1994 Ford Mustang SVT Cobra Insurance Cost – 10 Ideas for Best Prices

Want the cheapest car insurance rates for your Ford Mustang SVT Cobra? Do you get exhausted from trying to scrape together enough money to insure your Ford every month? You are in the same boat as many other people. With people having so many companies and agents to choose from, it can be challenging to pick the lowest price insurance company.

Finding auto insurance

Reducing your 1994 Ford Mustang SVT Cobra insurance rates is a great way to save money. You just have to spend a few minutes on the computer to get quotes to discover which company has affordable auto insurance quotes. You can get a good selection of rate quotes by following the guidelines below.

  1. If you are pressed for time, the simplest way to find low rates is an all-inclusive rate comparison click here to open form in new window. This form saves time by eliminating separate quote forms for every auto insurance company. A single, simple form gets insurance cost estimates from auto insurance companies with the best prices.
  2. A less efficient way to get comparison quotes is to take the time to go to the website of each company and complete a new quote form. For sake of this example, let’s assume you want comparison quotes from Progressive, State Farm and Travelers. To find out each rate you need to spend time on each company’s site and type in your information over and over, which is why first method is reommended. For a list of links to companies insuring cars in your area, click here.
  3. The least efficient and most time consuming way to comparison shop rate quotes is calling or driving to insurance agents’ offices. The fact that you can get quotes online eliminates the middleman unless you’re the type of person who wants the professional assistance only provided by licensed agents. Some companies do allow you to comparison shop your insurance online and still use a local agent.

Take whichever approach you prefer, but be certain you are entering apples-to-apples coverages on every quote. If the quotes have differing limits it will be nearly impossible to determine which rate is truly the best.

Do you qualify for these ten discounts?

Some companies do not advertise the entire discount list in a way that’s easy to find, so the following is a list of some of the more common and the harder-to-find discounts that you may qualify for.

  • Savings for New Vehicles – Buying a new car instead of a used car is cheaper compared to insuring an older model.
  • Low Miles Discount – Low annual miles could earn lower car insurancerates due to less chance of an accident.
  • Theft Deterent System – Cars with anti-theft systems help deter theft and will save you 10% or more.
  • Telematics Discount – Drivers that enable companies to study where and when they drive by installing a telematics device such as In-Drive from State Farm or Allstate’s Drivewise system might see lower rates if their driving habits are good.
  • ABS Brakes – Cars, trucks, and SUVs with ABS braking systems or traction control can stop better under adverse conditions and earn discounts up to 10%.
  • Safety Course Discount – Participating in a course in defensive driver may get you a small discount and make you a better driver.
  • Accident Free – Insureds who avoid accidents and claims have much lower rates when compared to frequent claim filers.
  • Switch and Save Discount – Some companies provide a discount for switching policies prior to the expiration date on your current policy. Ten percent is about the average savings.
  • Homeowners Discount – Simply owning a home may trigger a policy discount on car insurance because maintaining a house requires personal responsibility.
  • Good Student Discount – Performing well in school can save 20 to 25%. Most companies allow this discount well after school through age 25.

Please keep in mind that some credits don’t apply to the entire cost. Some only apply to individual premiums such as liability, collision or medical payments. Just because it seems like you would end up receiving a 100% discount, that’s just not realistic.

For a list of companies that provide some of the discounts listed above, follow this link.

Don’t assume everyone needs the same insurance coverage coverage

When it comes to choosing adequate coverage for your personal vehicles, there is no single plan that fits everyone. Your needs are not the same as everyone else’s so this has to be addressed. For example, these questions may help highlight whether your personal situation could use an agent’s help.

  • Does my personal policy cover me when driving out-of-state?
  • Do I need replacement cost coverage?
  • Does coverage extend to Mexico or Canada?
  • If my pet gets injured in an accident are they covered?
  • Do I need PIP (personal injury protection) coverage in my state?
  • What are the financial responsibility laws in my state?
  • Should I waive the damage coverage when renting a car?
  • Are there companies who specialize in insuring high-risk drivers?
  • Is my teen driver covered when they drive my company car?
  • How high should my uninsured/underinsured coverage be in my state?

If it’s difficult to answer those questions but one or more may apply to you then you might want to talk to a licensed insurance agent. To find lower rates from a local agent, simply complete this short form or you can go here for a list of companies in your area. It’s fast, free and may give you better protection.

Coverages available on your insurance policy

Knowing the specifics of your policy can be of help when determining the right coverages and proper limits and deductibles. Policy terminology can be ambiguous and nobody wants to actually read their policy. Shown next are the usual coverages found on the average insurance policy.

Collision insurance

This pays to fix your vehicle from damage resulting from a collision with another vehicle or an object, but not an animal. You first must pay a deductible and then insurance will cover the remainder.

Collision coverage pays for things like driving through your garage door, crashing into a ditch, backing into a parked car, hitting a mailbox and sustaining damage from a pot hole. This coverage can be expensive, so you might think about dropping it from older vehicles. It’s also possible to increase the deductible to get cheaper collision coverage.

Medical expense coverage

Medical payments and Personal Injury Protection insurance kick in for bills such as rehabilitation expenses, surgery, nursing services, ambulance fees and chiropractic care. They can be used to fill the gap from your health insurance policy or if you lack health insurance entirely. It covers you and your occupants and also covers if you are hit as a while walking down the street. PIP coverage is only offered in select states and gives slightly broader coverage than med pay

Auto liability insurance

Liability insurance will cover damage or injury you incur to other’s property or people by causing an accident. Split limit liability has three limits of coverage: per person bodily injury, per accident bodily injury, and a property damage limit. As an example, you may have values of 100/300/100 which stand for $100,000 bodily injury coverage, $300,000 for the entire accident, and property damage coverage for $100,000. Some companies may use a combined limit which combines the three limits into one amount without having the split limit caps.

Liability coverage pays for things such as loss of income, attorney fees and pain and suffering. How much coverage you buy is a decision to put some thought into, but it’s cheap coverage so purchase higher limits if possible.

Comprehensive protection

This covers damage caused by mother nature, theft, vandalism and other events. You first must pay your deductible and then insurance will cover the rest of the damage.

Comprehensive coverage pays for claims like hail damage, hitting a deer and rock chips in glass. The maximum payout you can receive from a comprehensive claim is the ACV or actual cash value, so if it’s not worth much more than your deductible it’s probably time to drop comprehensive insurance.

Uninsured or underinsured coverage

Your UM/UIM coverage protects you and your vehicle when other motorists do not carry enough liability coverage. Covered losses include medical payments for you and your occupants and also any damage incurred to your Ford Mustang SVT Cobra.

Since a lot of drivers carry very low liability coverage limits, it doesn’t take a major accident to exceed their coverage limits. For this reason, having high UM/UIM coverages is very important. Usually the UM/UIM limits are similar to your liability insurance amounts.

What is YOUR best insurance company?

In this article, we covered quite a bit of information on how to compare 1994 Ford Mustang SVT Cobra insurance premium rates online. It’s most important to understand that the more price quotes you have, the higher your chance of finding cheaper auto insurance. You may even discover the lowest premium rates come from some of the smallest insurance companies. These companies may have significantly lower prices on certain market segments compared to the large companies like GEICO and State Farm.

There are still a few companies who don’t offer online price quotes and many times these small, regional companies only sell coverage through local independent agencies. Cheaper 1994 Ford Mustang SVT Cobra insurance can be purchased online in addition to local insurance agencies, and you need to comparison shop both in order to have the best chance of saving money.

Much more information about insurance is available below:

Comments About 1994 Ford Mustang SVT Cobra Insurance

  1. Cassaundra Flynn

    Got pretty cheap 1994 Ford Mustang SVT Cobra insurance from Progressive in Burlington, VT.

  2. Melani Calhoun

    Does Allstate offer new car replacement?

  3. Lachelle Ortiz

    Good site, thanks. I’m just north of Indianapolis, IN. Received rates from Progressive, Amica, and Farmers for my Ford and am saving around $60 a year. Highly recommended. It’s only liability tho.

  4. Vincenza Rowe

    If you’re a decent driver and are close to Hilo, HI, check out Progressive. They seem to be cheaper. I have several vehicles insured with them.

  5. Wendolyn Leonard

    I chose to switch to Progressive from American Family. I live in Tacoma, WA. Left Erie to switch.

  6. Ofelia Richmond

    If you have a good history and live around Lincoln, NE, check out Allstate. I saved quite a bit. Insured with USAA before. I used their online quote form to compare rates. I don’t put full coverage on it.

  7. Alene Payne

    If you’re from West Valley City, Utah get quotes from Allstate and GEICO and you might save.

  8. Jasmin Floyd

    I’ve bought from GEICO forever. Cheapest rates in Columbus, GA.

  9. Kristeen Stanley

    Live in the eastern part of Salt Lake City, UT. Quoted prices online for a 1994 Ford Mustang SVT Cobra. Ended up at about $110 savings annually. Went with Allstate.

  10. Charley Freeman

    GEICO was cheapest for my 1994 Ford Mustang SVT Cobra in Providence, RI.