Compare 2006 Ford Mustang Insurance Cost

Searching for better insurance coverage rates for your Ford Mustang? Being forced to pay for pricey insurance coverage premiums can diminish your checking account and maybe even restrict other spending. Shopping your coverage around is a fast and free way to make sure you’re not throwing money away.

With so many online and local companies to choose from, it can be hard to choose the lowest cost insurer.

You may qualify for discounts

Some providers do not list the complete list of policy discounts in an easy-to-find place, so the following is a list of both well-publicized as well as the least known credits that you can use to lower your rates. If you do not check that you are getting every discount possible, you are throwing money away.

• ABS Brakes – Cars with anti-lock braking systems are much safer to drive and qualify for as much as a 10% discount.
• Passenger Safety Discount – Options like air bags and/or automatic seat belt systems may earn rate discounts of up to 25% or more.
• Theft Prevention Discount – Vehicles that have factory alarm systems and tracking devices are stolen with less frequency and that can save you a little bit as well.
• Distant Student Discount – who live away from home at college and do not take a car to college may qualify for this discount.
• Payment Method – By making one initial payment instead of monthly or quarterly installments you may have a lower total premium amount.
• First Accident Forgiveness – Not necessarily a discount, but a handful of insurance companies will turn a blind eye to one accident without raising rates with the catch being you have to be claim-free for a certain period of time.

Remember that most discounts do not apply to the entire cost. Most only cut the price of certain insurance coverages like liability, collision or medical payments. Even though it may seem like all the discounts add up to a free policy, companies don’t profit that way.

Some of the larger companies that have these benefits are:

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

When getting a coverage quote, ask each company the best way to save money. Some discounts listed above might not be offered everywhere. If you would like to see a list of providers who offer cheap auto insurance quotes, follow this link.

What determines Ford Mustang insurance costs?

Smart consumers have a good feel for some of the things that help calculate insurance rates. When you understand what determines premiums, this enables you to make decisions that can earn you better insurance rates.

• More than one policy can earn a discount – Some insurance companies will give a discount for people that buy multiple policies, otherwise known as a multi-policy discount. The discount can be ten percent or more. Even if you already get this discount, you still need to compare rates to confirm you are receiving the best rates possible. You may still be able to find a better deal by insuring with multiple companies.
• Tickets can be expensive – Your driving record has a big impact on rates. Having a single driving citation can increase rates substantially. Drivers with clean records receive lower rates than people who have multiple driving citations. Drivers unfortunate enough to have severe tickets like reckless driving, hit and run or driving under the influence may need to maintain a SR-22 with their state’s licensing department in order to prevent their license from being revoked.
• Never let your insurance policy expire – Not maintaining insurance is not a good idea and any future policy may cost more because you let your coverage lapse. In addition to paying higher premiums, failure to provide proof of insurance might get you a hefty fine and possibly a revoked license.
• How do annual miles impact prices? – The more you drive your Ford in a year the higher your rate. Almost all companies price each vehicle’s coverage based on their usage. Cars not used for work or commuting can get a lower rate than vehicles that have high annual mileage. Having the wrong rating on your Mustang may be costing you higher rates. Double check that your vehicle rating shows the correct usage.
• Younger drivers pay more – Older people are more responsible, cause fewer claims and accidents , and are generally more financially stable.Young drivers have a tendency to be inattentive behind the wheel therefore insurance rates are much higher.
• Safeguard your assets with liability insurance – Your insurance policy’s liability coverage will afford coverage if ever a court rules you are at fault for damages caused by your negligence. Your policy’s liability insurance provides legal defense which can be incredibly expensive. Liability insurance is pretty cheap compared to insuring for physical damage coverage, so drivers should carry high limits.
• Get married and get cheaper prices – Your spouse can get you a discount on insurance. It is viewed as being more financially stable and it’s statistically proven that married couples file fewer claims.

There’s no such thing as the perfect insurance policy

When choosing coverage for your vehicles, there really is not a cookie cutter policy. Coverage needs to be tailored to your specific needs and a cookie cutter policy won’t apply. These are some specific questions could help you determine whether your personal situation might need an agent’s assistance.

• Will I lose any money if I cancel my policy before it expires?
• If I drive on a suspended license am I covered?
• Does coverage extend to a rental car in a foreign country?
• What is the minimum liability in my state?
• Is borrowed equipment or tools covered if stolen or damaged?
• Am I covered when renting a car or should I buy coverage from the car rental agency?
• Do I have coverage when pulling a U-Haul trailer?
• What are the financial responsibility laws in my state?
• Do I have any recourse if my insurance company denies a claim?

If you don’t know the answers to these questions but a few of them apply then you might want to talk to a licensed agent. If you don’t have a local agent, complete this form or you can also visit this page to select a carrier It is quick, free and you can get the answers you need.

Auto insurance myths debunked

Consumers get pounded daily by advertisements that promise big savings from the likes of Allstate, Geico and Progressive. All the ads have a common claim that you’ll save big if you get a free auto insurance quote and switch your coverage to them.

How do they all offer drivers better rates? Just pay attention to how they say it.

Insurance providers have an ideal profile for the driver that makes them money. For instance, a profitable risk profile should be over the age of 45, carries high limits, and the vehicle is rated for pleasure use. Any customer who matches that profile will probably get cheap rates and most likely will save when switching.

Consumers who fall short of this ideal profile will see higher rates which results in the customer buying from someone else. If you listen closely, the ads state “drivers that switch” not “everyone who quotes” will save that much if they switch. That’s why insurance companies can state the savings.

This illustrates why it’s extremely important to compare rate quotes every year. Because without a comparison, you cannot know which insurance companies will fit you best based on your risk profile.

Specifics of your auto insurance policy

Understanding the coverages of auto insurance aids in choosing appropriate coverage at the best deductibles and correct limits. The coverage terms in a policy can be impossible to understand and even agents have difficulty translating policy wording. Shown next are the normal coverages found on most auto insurance policies.

Uninsured/Underinsured Motorist (UM/UIM)

This coverage protects you and your vehicle when the “other guys” either are underinsured or have no liability coverage at all. Covered claims include injuries to you and your family as well as damage to your Ford Mustang.

Because many people only purchase the least amount of liability that is required, it doesn’t take a major accident to exceed their coverage limits. So UM/UIM coverage is important protection for you and your family. Normally the UM/UIM limits are set the same as your liablity limits.

Auto collision coverage

This coverage will pay to fix damage to your Mustang resulting from a 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 can pay for claims such as scraping a guard rail, crashing into a building, rolling your car, sideswiping another vehicle and backing into a parked car. Collision is rather expensive coverage, so you might think about dropping it from lower value vehicles. It’s also possible to raise the deductible to bring the cost down.

Med pay and Personal Injury Protection (PIP)

Personal Injury Protection (PIP) and medical payments coverage reimburse you for bills for things like prosthetic devices, surgery, EMT expenses and ambulance fees. They are utilized in addition to your health insurance policy or if you lack health insurance entirely. Medical payments and PIP cover not only the driver but also the vehicle occupants and also covers being hit by a car walking across the street. PIP is not universally available and gives slightly broader coverage than med pay

Comprehensive insurance

Comprehensive insurance pays for damage caused by mother nature, theft, vandalism and other events. You first must pay your deductible then your comprehensive coverage will pay.

Comprehensive insurance covers claims such as a broken windshield, damage from a tornado or hurricane, hitting a deer, theft and falling objects. The most you’ll receive from a claim is the actual cash value, so if your deductible is as high as the vehicle’s value it’s probably time to drop comprehensive insurance.

Auto liability insurance

Liability insurance can cover damage that occurs to people or other property that is your fault. This coverage protects you against claims from other people, and does not provide coverage for damage to your own property or vehicle.

Split limit liability has three limits of coverage: per person bodily injury, per accident bodily injury, and a property damage limit. You might see liability limits of 100/300/100 which stand for a limit of $100,000 per injured person, a limit of $300,000 in injury protection per accident, and a limit of $100,000 paid for damaged property. Some companies may use a combined limit which combines the three limits into one amount without having the split limit caps.

Liability insurance covers things such as bail bonds, pain and suffering, loss of income and court costs. The amount of liability coverage you purchase is a decision to put some thought into, but consider buying as high a limit as you can afford.

And the best car insurance company is…

We covered a lot of techniques to compare 2006 Ford Mustang insurance prices online. The most important thing to understand is the more times you quote, the more likely it is that you will get a better rate. Consumers may even find the lowest prices come from a small mutual company. Regional companies often have lower rates on specific markets as compared to the big name companies such as Allstate and Progressive.

When shopping online for car insurance, it’s not a good idea to skimp on coverage in order to save money. In too many instances, an accident victim reduced full coverage to discover at claim time that a couple dollars of savings turned into a financial nightmare. The ultimate goal is to buy a smart amount of coverage at the best cost.

More resources

• What are my Rights when Filing a Claim? (Insurance Information Insitute)
• Distracted Driving Statistics (Insurance Information Insitute)
• Information for Teen Drivers (Geico)
• What does Personal Injury Protection (PIP) Cover? (Allstate)
• Understanding your Policy (NAIC.org)