2003 Ford Mustang Insurance Rates – 10 Tips for Cheaper Quotes

Want the cheapest insurance coverage rates for your Ford Mustang? Comparison shopping for insurance coverage can be challenging for consumers not familiar with buying insurance online. There are so many choices that it can be a real hassle to compare prices.

The method we recommend to compare insurance rates in your area is to know the fact most insurance companies participate in a system to compare their rates. To get started, all you need to do is provide the companies a bit of rating information like whether you are single or married, daily mileage, your job, and if you require a SR-22. Your insurance information is instantly provided to multiple companies and they return cost estimate very quickly.

More discounts equal less premium

Car insurance can cost a lot, but you can get discounts that many people don’t even know exist. Some discounts apply automatically at the time of quoting, but lesser-known reductions have to be specially asked for prior to getting the savings.

  • Sign Online – A few companies will give a small break simply for signing on their website.
  • Student in College – Children living away from home attending college and do not have access to a covered vehicle may qualify for this discount.
  • Use Seat Belts – Drivers who require all occupants to buckle their seat belts could cut 10% or more off the personal injury premium cost.
  • Anti-lock Brakes – Vehicles equipped with ABS or steering control are safer to drive and earn discounts up to 10%.
  • Multi-policy Discount – If you insure your home and vehicles with one company you will save at least 10% off all policies.
  • Lower Rates for Military – Being on active duty in the military could mean lower rates.
  • Driver Safety – Taking a course in driver safety could possibly earn you a 5% discount if you qualify.
  • Employee of Federal Government – Active or retired federal employment could cut as much as 10% off for Mustang coverage with certain companies.
  • Discount for New Cars – Buying coverage on a new vehicle is cheaper due to better safety requirements for new cars.
  • Drive Less and Save – Low mileage vehicles could qualify for lower rates on the low mileage vehicles.

Consumers should know that most discount credits are not given to the entire cost. Some only apply to the cost of specific coverages such as comp or med pay. Even though it may seem like it’s possible to get free car insurance, you’re out of luck. But any discount will help reduce your overall premium however.

Car insurance companies that may have these benefits include:

Double check with each company which discounts you may be entitled to. All car insurance discounts may not be available in your area.

It’s not one size fits all

When it comes to buying coverage, there really is no one size fits all plan. Everyone’s needs are different.

Here are some questions about coverages that may help highlight if your situation could use an agent’s help.

  • Does my medical payments coverage pay my health insurance deductible?
  • Do I need replacement cost coverage on my 2003 Ford Mustang?
  • Is my teen driver covered when they drive my company car?
  • Is my nanny covered when driving my vehicle?
  • Am I covered if hit by an uninsured driver?
  • Do I need replacement cost coverage?

If you can’t answer these questions, you may need to chat with a licensed insurance agent. If you don’t have a local agent, simply complete this short form.

Auto insurance coverages explained

Learning about specific coverages of your auto insurance policy helps when choosing the right coverages for your vehicles. Auto insurance terms can be impossible to understand and nobody wants to actually read their policy.

Coverage for medical payments

Med pay and PIP coverage pay for expenses like pain medications, dental work, nursing services and surgery. They can be used in conjunction with a health insurance program or if you lack health insurance entirely. They cover you and your occupants in addition to if you are hit as a while walking down the street. Personal Injury Protection is not an option in every state and may carry a deductible

Collision coverage

This coverage will pay to fix damage to your Mustang resulting from colliding with another vehicle or an object, but not an animal. You will need to pay your deductible and the rest of the damage will be paid by collision coverage.

Collision coverage pays for things such as driving through your garage door, sideswiping another vehicle, sustaining damage from a pot hole and colliding with a tree. This coverage can be expensive, so analyze the benefit of dropping coverage from lower value vehicles. Another option is to bump up the deductible in order to get cheaper collision rates.

Uninsured and underinsured coverage

Your UM/UIM coverage protects you and your vehicle when the “other guys” either are underinsured or have no liability coverage at all. Covered claims include medical payments for you and your occupants as well as your vehicle’s damage.

Since a lot of drivers have only the minimum liability required by law, their liability coverage can quickly be exhausted. So UM/UIM coverage is important protection for you and your family. Most of the time your uninsured/underinsured motorist coverages are identical to your policy’s liability coverage.

Comprehensive coverages

Comprehensive insurance covers damage from a wide range of events other than collision. You first have to pay a deductible then the remaining damage will be covered by your comprehensive coverage.

Comprehensive coverage protects against things such as theft, fire damage, falling objects, vandalism and damage from getting keyed. The most a auto insurance company will pay at claim time 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.

Liability insurance

Liability 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 injured, bodily injury for the entire accident and a property damage limit. Your policy might show policy limits of 50/100/50 that means you have $50,000 bodily injury coverage, a total of $100,000 of bodily injury coverage per accident, and a limit of $50,000 paid for damaged property. Occasionally you may see one number which is a combined single limit which provides one coverage limit rather than limiting it on a per person basis.

Liability coverage protects against things like pain and suffering, medical services, repair costs for stationary objects, attorney fees and legal defense fees. How much liability should you purchase? That is a personal decision, but you should buy as much as you can afford.

Shop smart and save

Discount 2003 Ford Mustang insurance is possible on the web as well as from independent agents, so you should compare both to have the best selection. Some insurance companies don’t offer online quoting and these small, regional companies work with independent agents.

When shopping online for car insurance, it’s a bad idea to reduce needed coverages to save money. Too many times, consumers will sacrifice liability limits or collision coverage to discover at claim time that it was a big mistake. Your strategy should be to purchase plenty of coverage at a price you can afford while not skimping on critical coverages.

We just presented a lot of techniques to lower your insurance rates. The key thing to remember is the more rate quotes you have, the more likely it is that you will get a better rate. You may even find the lowest rates come from the least-expected company.

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