How Much Does 2003 Ford Mustang Car Insurance Cost?

Want cheaper insurance rates for your Ford Mustang? If you are new to online price comparisons, you can be confused due to the large number of online insurance companies and websites all claiming to save you money.

If you currently have car insurance, you will be able to lower your premiums substantially using these techniques. This information will help you learn how car insurance quotes work. Although car owners do need to understand how companies price insurance differently because it can help you find the best coverage.

Lower your insurance rates

Smart consumers have a good feel for a few of the rating criteria that help determine auto insurance rates. If you have a feel for what controls the rates you pay, this enables informed choices that can earn you big savings.

Shown below are a few of the things auto insurance companies consider when setting your rates.

• Driver age impacts prices – Older people are more responsible, cause fewer claims and accidents and are safer drivers.Teenage drivers have been known to be more careless with other occupants in the car and because of this, their auto insurance rates are much higher.
• Gender and insurance coverage – Over time, data shows females are less aggressive when driving. That doesn’t necessarily mean that females are better drivers. Females and males are responsible for auto accidents at a similar rate, but the men have accidents that have higher claims. Not only are claims higher, but men get ticketed for serious violations like driving under the influence (DUI). Male drivers age 16 to 19 have the highest risk to insure and thus pay the highest rates.
• Eliminate extra coverages – Policies have additional coverages that you can buy on your Mustang policy. Coverages like vanishing deductibles, towing coverage, and term life insurance could be just wasting money. These may sound like a good investment at first, but if you have no use for them eliminate them to save money.
• Discounts for auto and home policies – Many insurers will award better rates to policyholders who consolidate policies with them in the form of a multi-policy discount. Discounts can add up to ten percent or more. Even with this discount applied, it’s still a good idea to compare rates to help guarantee you have the best rates. Consumers may save even more than the discount by insuring with multiple companies.
• GPS tracking and theft deterrents reduce prices – Choosing to buy a car that has an advanced theft prevention system can get you a discount on your auto insurance. Advanced theft deterrents such as vehicle immobilizer systems, OnStar, and tracking devices like LoJack can help prevent your vehicle from being stolen.
• High deductibles reduce rates – Comprehensive and collision coverage deductibles are how much you are required to spend out-of-pocket if the claim is covered. Physical damage protection, also called comprehensive and collision insurance, insures against damage to your car. Some instances where coverage would apply are colliding with a stationary object, damage caused by hail, or theft of your vehicle. The larger the amount you pay before a claim is paid (deductible), the less your company will charge you for insurance for Mustang coverage.

The most recommended method to get policy rate comparisons is to know most insurance companies provide online access to compare rate quotes. All consumers are required to do is take a few minutes to give details such as whether the vehicles are used for commuting, whether you are single or married, if it has an anti-theft system, and what you do for a living. Those rating factors is instantly submitted to all major companies and they respond with quotes very quickly.

Insurance coverage quotes and discounts

The price of auto insurance can be rather high, but you might find some hidden discounts to cut the cost considerably. Larger premium reductions will be automatically applied when you get a quote, but once in a while a discount must be specially asked for before you will receive the discount. If you don’t get every credit possible, you’re just leaving money on the table.

• College Student Discount – College-age children living away from home attending college and do not have a car could qualify for this discount.
• Onboard Data Collection – Drivers that enable their company to spy on when and where they use their vehicle through the use of a telematics system such as In-Drive from State Farm or Allstate’s Drivewise system may see discounts if they exhibit good driving behavior.
• Theft Prevention System – Vehicles optioned with advanced anti-theft systems can help prevent theft so companies will give you a small discount.
• Anti-lock Brakes – Cars, trucks, and SUVs with anti-lock braking systems are safer to drive so you can save 10 percent or more.
• Mature Driver Discount – Mature drivers can possibly qualify for a small decrease in premiums for Mustang coverage.

As a footnote on discounts, many deductions do not apply to the entire policy premium. Some only apply to specific coverage prices like comp or med pay. Despite the fact that it seems like having all the discounts means you get insurance for free, it’s just not the way it works.

Insurance companies that have most of the discounts above include:

• Progressive
• SAFECO
• American Family
• MetLife
• Geico
• The Hartford

If you want the cheapest auto insurance quotes, ask every prospective company the best way to save money. Some discounts may not apply to policyholders in your area. To choose providers who offer insurance coverage discounts, click here.

Situations that may require an agent’s advice

When it comes to buying coverage, there really is not a single plan that fits everyone. Everyone’s needs are different.

For instance, these questions may help you determine whether you might need an agent’s assistance.

• I have a DUI can I still get coverage?
• Can I get a multi-policy discount?
• Should I buy full coverage?
• What if I owe more than I can insure my car for?
• Why am I required to get a high-risk car insurance policy?
• Do I need added coverage for expensive stereo equipment?
• Can my teen drive my company car?
• Do I need an umbrella policy?
• Do I have coverage if my license is suspended?

If it’s difficult to answer those questions but a few of them apply, then you may want to think about talking to a licensed agent. If you want to speak to an agent in your area, simply complete this short form.

Car insurance coverage information

Knowing the specifics of your car insurance policy helps when choosing the best coverages at the best deductibles and correct limits. The terms used in a policy can be ambiguous and even agents have difficulty translating policy wording.

Collision coverage – Collision coverage will pay to fix damage to your Mustang resulting from a collision with another vehicle or an object, but not an animal. A deductible applies then the remaining damage will be paid by your insurance company.

Collision insurance covers claims like colliding with another moving vehicle, sustaining damage from a pot hole, hitting a parking meter and rolling your car. This coverage can be expensive, so consider removing coverage from lower value vehicles. You can also raise the deductible to get cheaper collision coverage.

Comprehensive coverage – Comprehensive insurance coverage covers damage caused by mother nature, theft, vandalism and other events. A deductible will apply then your comprehensive coverage will pay.

Comprehensive insurance covers claims like a broken windshield, theft, hail damage, rock chips in glass and fire damage. The maximum amount you’ll receive from a claim is the market value of your vehicle, so if it’s not worth much more than your deductible consider removing comprehensive coverage.

Medical payments coverage and PIP – Coverage for medical payments and/or PIP reimburse you for bills for things like hospital visits, surgery and nursing services. They can be used in conjunction with a health insurance program or if you lack health insurance entirely. Coverage applies to both the driver and occupants in addition to if you are hit as a while walking down the street. PIP coverage is not available in all states but can be used in place of medical payments coverage

Liability – This can cover damage or injury you incur to a person or their property that is your fault. It protects YOU against claims from other people. It does not cover your own vehicle damage or injuries.

It consists of three limits, bodily injury for each person injured, bodily injury for the entire accident and a property damage limit. You commonly see policy limits of 100/300/100 which stand for $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 can pay for claims such as funeral expenses, legal defense fees and attorney fees. The amount of liability coverage you purchase is a personal decision, but consider buying as high a limit as you can afford.

Uninsured/Underinsured Motorist coverage – This coverage gives you protection when the “other guys” either are underinsured or have no liability coverage at all. This coverage pays for medical payments for you and your occupants and also any damage incurred to your Ford Mustang.

Since many drivers have only the minimum liability required by law, their limits can quickly be used up. So UM/UIM coverage is a good idea.

The bottom line

Throughout this article, we presented a lot of information how to get a better price on 2003 Ford Mustang insurance. The key concept to understand is the more companies you get car insurance rates for, the better chance you’ll have of finding cheaper auto insurance. You may even discover the most savings is with a company that doesn’t do a lot of advertising.

Drivers who switch companies do it for many reasons like poor customer service, lack of trust in their agent, unfair underwriting practices and high prices. Regardless of your reason, finding a great new company is easier than you think.

Some companies do not provide the ability to get quotes online and usually these regional insurance providers sell through local independent agencies. Lower-priced auto insurance is possible both online and from local insurance agents, and you need to price shop both to have the best rate selection.

Additional information is available at the links below

• Your Car has been Stolen: Now What? (Allstate)
• Car Insurance: When not to Skimp (BankRate.com)
• Learn About Car Insurance (Geico)
• Car Insurance FAQ (Trusted Choice)
• Reducing Your Risks in a Car Crash Video (iihs.org)