Lower Your 2003 Ford Five Hundred Insurance Quotes

Having to pay for high-priced Ford Five Hundred insurance can bottom out your personal savings and make it hard to pay other bills. Comparing rate quotes is free and is an excellent way to cut your insurance bill.

Consumers have so many insurance companies to purchase coverage from, and although it’s nice to be able to choose, it can be more difficult to find the best rates for your vehicles.

Cheap insurance

Comparing insurance rates is a ton of work if you don’t utilize the most efficient way to do it. You could waste time driving to local insurance agents in your area, or you could use online quotes to achieve your goal.

All the larger companies belong to a marketplace that enables customers to submit one quote, and every company then returns a price quote for coverage. This system prevents you from having to do form submissions for each company. To compare pricing click here to open in new window.

The only drawback to doing it this way is you don’t know exactly the providers you will receive quotes from. So if you prefer to choose specific insurance companies to compare, we have assembled a list of insurance companies in your area. Click to view list.

However you get your quotes, compare apples-to-apples coverages and limits on every quote. If each company quotes mixed coverages you will not be able to make a fair comparison for your Ford Five Hundred. Just slight variations in coverages may result in a large different in cost. It’s important to know that making a lot of price comparisons increases your odds of finding the best rates. Not every company provides quotes online, so you should also compare prices from those companies as well.

Is there truth in advertising?

Well-known insurance companies like State Farm, Allstate and Geico consistently run ads on television and other media. All the companies seem to make the promise that drivers can save some big amount if you change your policy. How can each company lower your prices? Here is how they do it.

Many companies give the best rates for the type of customer that will most likely be profitable. A good example of a driver they prefer may be between the ages of 30 and 45, has never had a claim, and chooses high deductibles. Any driver who fits that profile will get the preferred premium rates as well as save quite a bit of money when switching.

Consumers who are not a match for this ideal profile may receive higher prices and the driver buying from a lower-cost company. The trick companies use is to say “people who switch” not “everyone that quotes” save money. That is how insurance companies can confidently make those claims.

Because of this risk profiling, drivers must compare price quotes frequently. Because you never know which insurance company will be your best fit.

Affordable insurance quotes with discounts

Insurance can be prohibitively expensive, but you might already qualify for some discounts that can help lower your rates. Certain discounts will be applied at the time of quoting, but occassionally some discounts must be manually applied prior to getting the savings.

• Organization Discounts – Being a member of specific professional or occupational memberships or organizations is a good way to get lower rates on your next renewal.
• Telematics Devices – Insureds who allow driving data submission to spy on vehicle usage by using a small device installed in their vehicle such as In-Drive from State Farm or Allstate’s Drivewise system could possibly reduce rates if they exhibit good driving behavior.
• Defensive Driver – Participating in a course in defensive driving is a good idea and can lower rates and easily recoup the cost of the course.
• Anti-theft System – Vehicles optioned with advanced anti-theft systems prevent vehicle theft and qualify for as much as a 10% discount.
• Discount for Passive Restraints – Factory air bags and/or automatic seat belt systems can receive discounts of more than 20%.
• No Claims – Drivers who don’t have accidents have much lower rates as compared to drivers with a long claim history.
• Good Grades Discount – Maintaining excellent grades can save 20 to 25%. This discount can apply up until you turn 25.
• Paper-free Discount – Certain larger companies will provide an incentive for buying your policy on the internet.

As a disclaimer on discounts, most discount credits are not given to your bottom line cost. Some only apply to specific coverage prices like comprehensive or collision. Even though it appears you would end up receiving a 100% discount, you won’t be that lucky.

To view insurance companies who offer online insurance quotes, click here.

Tailor your insurance coverage coverage to you

When it comes to buying the best insurance coverage coverage, there isn’t really a perfect coverage plan. Every situation is different so this has to be addressed. Here are some questions about coverages that might point out if your situation might need professional guidance.

• Should I buy more coverage than the required minimum liability coverage?
• Do I really need UM/UIM coverage?
• Is my Ford Five Hundred covered if I use it for business?
• Is pleasure use cheaper than using my 2003 Ford Five Hundred to commute?
• Does coverage extend to a rental car in a foreign country?
• Do I have any recourse if my insurance company denies a claim?
• What happens if I owe more than my 2003 Ford Five Hundred is worth?
• Should I have a commercial auto policy?
• Should I put collision coverage on all my vehicles?
• Which companies will insure high-risk drivers?

If it’s difficult to answer those questions but you know they apply to you then you might want to talk to a licensed agent. To find lower rates from a local agent, take a second and complete this form or you can also visit this page to select a carrier

Information about specific coverages

Knowing the specifics of a car insurance policy can help you determine the best coverages at the best deductibles and correct limits. The coverage terms in a policy can be confusing and reading a policy is terribly boring. These are the usual coverages offered by car insurance companies.

Auto collision coverage

Collision coverage pays for damage to your Five Hundred caused by collision with a stationary object or other vehicle. You have to pay a deductible then the remaining damage will be paid by your insurance company.

Collision insurance covers things such as driving through your garage door, backing into a parked car, sustaining damage from a pot hole and rolling your car. Paying for collision coverage can be pricey, so you might think about dropping it from vehicles that are older. You can also raise the deductible to save money on collision insurance.

UM/UIM (Uninsured/Underinsured Motorist) coverage

Uninsured or Underinsured Motorist coverage provides protection when other motorists either have no liability insurance or not enough. It can pay for hospital bills for your injuries as well as your vehicle’s damage.

Because many people only carry the minimum required liability limits, their liability coverage can quickly be exhausted. For this reason, having high UM/UIM coverages is a good idea. Most of the time these coverages are identical to your policy’s liability coverage.

Medical payments and PIP coverage

Med pay and PIP coverage reimburse you for expenses for rehabilitation expenses, chiropractic care and pain medications. The coverages can be used to cover expenses not covered by your health insurance plan or if you do not have health coverage. They cover not only the driver but also the vehicle occupants in addition to being hit by a car walking across the street. PIP coverage is only offered in select states but can be used in place of medical payments coverage

Liability insurance

Liability coverage protects you from damages or injuries you inflict on other people or property in an accident. It protects YOU from legal claims by others. It does not cover your own vehicle damage or injuries.

Liability coverage has three limits: bodily injury for each person injured, bodily injury for the entire accident and a property damage limit. You commonly see liability limits of 25/50/25 which stand for a limit of $25,000 per injured person, a total of $50,000 of bodily injury coverage per accident, and $25,000 of coverage for damaged propery. Occasionally you may see one number which is a combined single limit which provides one coverage limit and claims can be made without the split limit restrictions.

Liability coverage protects against things like funeral expenses, medical services, repair bills for other people’s vehicles, emergency aid and bail bonds. The amount of liability coverage you purchase is a personal decision, but it’s cheap coverage so purchase higher limits if possible.

Comprehensive auto coverage

This covers damage from a wide range of events other than collision. You need to pay your deductible first and the remainder of the damage will be paid by comprehensive coverage.

Comprehensive coverage protects against claims such as theft, damage from a tornado or hurricane, hitting a deer and damage from flooding. The maximum payout you can receive from a comprehensive claim is the market value of your vehicle, so if the vehicle’s value is low it’s not worth carrying full coverage.

In any little way, save everyday

Cheaper 2003 Ford Five Hundred insurance is definitely available both online and from local agencies, so you need to shop auto insurance with both to have the best rate selection. There are still a few companies who may not provide the ability to get a quote online and these smaller providers work with local independent agents.

We’ve covered a lot of techniques to reduce 2003 Ford Five Hundred insurance prices online. The key thing to remember is the more quotes you get, the better your comparison will be. You may even find the biggest savings come from a small mutual company. Smaller companies often have lower rates on specific markets as compared to the big name companies such as State Farm, Geico and Nationwide.

When trying to cut insurance costs, never sacrifice coverage to reduce premiums. In many cases, drivers have reduced uninsured motorist or liability limits only to regret at claim time that it was a big error on their part. Your goal should be to buy the best coverage you can find for the lowest cost, but don’t skip important coverages to save money.

Other information

• Smart Auto Insurance Tips (Insurance Information Insitute)
• What Determines the Price of My Auto Insurance Policy? (Insurance Information Insitute)
• Vehicle Insurance (Wikipedia)
• Young Drivers: The High Risk Years Video (iihs.org)
• Anti-Lock Brake FAQ (iihs.org)
• Side Impact Crash Tests (iihs.org)