2002 Ford Mustang Insurance Rates – 6 Tips for Cheaper Quotes

Trying to find the cheapest auto insurance rates for your Ford Mustang? Have you had enough of wondering where the money will come from to make your auto insurance payment? You are no different than the majority of other people.

People have many car insurance companies to choose from, and although it’s a good thing to have multiple companies, so many choices can make it hard to get the best deal.

How to compare insurance quotes

Performing a rate comparison can be a daunting task if you don’t know the best way to get rate quotes. You can waste a few hours (or days) driving to insurance companies in your area, or you could use the internet for quick rates.

The majority of car insurance companies belong to an insurance system where prospective buyers enter their coverage request one time, and each participating company then returns a price quote for coverage. This saves time by eliminating quote forms to every company.

To find out how much you’re overpaying now click here (opens in new window).

The single downside to comparing rates this way is buyers cannot specifically choose which insurance companies you want to price. So if you prefer to pick individual companies to compare rates, we have assembled a list of companies who write insurance in your area. Click here to view list.

However you get your quotes, ensure you are comparing exactly the same coverage data for every quote you compare. If you are comparing unequal deductibles or liability limits you can’t possibly decipher which rate is best. Slightly different insurance coverages could mean much higher rates. Just remember that more quotes helps increase your odds of locating more affordable insurance. Some regional insurers cannot provide price estimates online, so it’s important to compare quotes from those companies as well.

Cheaper rates with these six discounts

Car insurance can cost a lot, but you might find some hidden discounts to reduce the price significantly. Larger premium reductions will be automatically applied when you quote, but once in a while a discount must be inquired about in order for you to get them.

• Discount for Low Mileage – Low mileage vehicles could earn discounted rates on garaged vehicles.
• Good Students Pay Less – This discount may save you up to 25%. This discount can apply until age 25.
• Payment Method – If paying your policy premium upfront instead of monthly or quarterly installments you may have a lower total premium amount.
• Discounts for Federal Employees – Being employed by or retired from a federal job can earn a discount up to 10% for Mustang coverage with a few insurance coverage companies.
• Save with More Vehicles Insured – Purchasing coverage when you have multiple vehicles on one policy can reduce rates for all insured vehicles.
• Anti-lock Brake Discount – Vehicles that have anti-lock braking systems prevent accidents and the ABS can save up to 10%.

As a disclaimer on discounts, most discount credits are not given the the whole policy. Some only apply to the cost of specific coverages such as collision or personal injury protection. Just because you may think having all the discounts means you get insurance for free, nobody gets a free ride.

If you would like to see a list of insurance coverage companies that offer discounts, click here.

Insurance coverage can be complex

When it comes to choosing coverage, there really is not a “best” method to buy coverage. Every situation is different and a cookie cutter policy won’t apply. For instance, these questions might help in determining whether your personal situation might need professional guidance.

• Are split liability limits better than a combined single limit?
• How many claims can I have before being cancelled?
• Am I covered if I wreck a rental car?
• Is my camper covered by my car insurance policy?
• Is my 2002 Ford Mustang covered for flood damage?
• Am I covered when using my vehicle for business?
• Where can I find DUI or SR-22 insurance?
• What exactly is covered by my policy?
• Is my teen driver covered when they drive my company car?

If you’re not sure about those questions, you may need to chat with an agent. To find an agent in your area, complete this form or click here for a list of insurance coverage companies in your area.

Insurance coverages and their meanings

Learning about specific coverages of insurance can be of help when determining appropriate coverage at the best deductibles and correct limits. Policy terminology can be difficult to understand and reading a policy is terribly boring. Listed below are the usual coverages found on the average insurance policy.

Auto liability

This coverage will cover damage that occurs to other’s property or people that is your fault. Coverage consists of three different limits, bodily injury for each person, bodily injury for the entire accident, and a limit for property damage. Your policy might show limits of 100/300/100 that means you have $100,000 bodily injury coverage, a total of $300,000 of bodily injury coverage per accident, and a limit of $100,000 paid for damaged property.

Liability insurance covers claims such as court costs, pain and suffering, emergency aid and funeral expenses. How much liability coverage do you need? That is a personal decision, but buy higher limits if possible.

Uninsured/Underinsured Motorist coverage

Your UM/UIM coverage protects you and your vehicle’s occupants from other motorists when they do not carry enough liability coverage. Covered claims include injuries sustained by your vehicle’s occupants and also any damage incurred to your 2002 Ford Mustang.

Since many drivers only purchase the least amount of liability that is required, their liability coverage can quickly be exhausted. This is the reason having UM/UIM coverage is a good idea.

Collision coverage

Collision insurance will pay to fix damage to your Mustang caused by collision with an object or car. A deductible applies then the remaining damage will be paid by your insurance company.

Collision coverage protects against claims like colliding with another moving vehicle, rolling your car and sustaining damage from a pot hole. Collision is rather expensive coverage, so analyze the benefit of dropping coverage from older vehicles. It’s also possible to choose a higher deductible to get cheaper collision coverage.

Comprehensive coverage

Comprehensive insurance will pay to fix damage from a wide range of events other than collision. You first must pay your deductible and then insurance will cover the rest of the damage.

Comprehensive can pay for things such as a tree branch falling on your vehicle, hail damage and damage from getting keyed. The highest amount a insurance company will pay at claim time is the cash value of the vehicle, so if the vehicle’s value is low consider dropping full coverage.

Medical payments coverage and PIP

Coverage for medical payments and/or PIP provide coverage for expenses such as doctor visits, X-ray expenses, pain medications, EMT expenses and hospital visits. They are used to fill the gap from your health insurance plan or if there is no health insurance coverage. Coverage applies to you and your occupants in addition to getting struck while a pedestrian. Personal injury protection coverage is only offered in select states but can be used in place of medical payments coverage

Find Good Coverage for Less

We’ve covered a lot of ways to compare 2002 Ford Mustang insurance premium rates online. The key concept to understand is the more providers you compare, the higher your chance of finding cheaper car insurance. You may be surprised to find that the most savings is with the smaller companies. These smaller insurers can often insure niche markets at a lower cost than the large multi-state companies such as State Farm and Allstate.

When you buy car insurance online, never buy less coverage just to save a little money. In many instances, consumers will sacrifice full coverage and discovered at claim time that the small savings ended up costing them much more. Your strategy should be to buy enough coverage at the best possible price while still protecting your assets.

Affordable 2002 Ford Mustang insurance can be purchased on the web in addition to local insurance agencies, and you should compare price quotes from both in order to have the best price selection to choose from. There are still a few companies who do not offer price quotes online and most of the time these regional insurance providers prefer to sell through independent agencies.

For more information, feel free to browse the resources below:

• Help Your Teen Be a Better Driver (State Farm)
• Safety Features for Your New Car (State Farm)
• Winter Driving (Insurance Information Insitute)
• Auto Insurance Facts and Statistics (Insurance Information Insitute)