2010 Ford Mustang Insurance Cost

Looking for the cheapest insurance rates for your Ford Mustang? Sick and tired of robbing Peter to pay Paul to insure your Ford every month? Your situation is no different than many other drivers.

Many insurance companies compete for your business, and because of this it can be hard to compare car insurance companies to find the best price available.

If you currently have car insurance, you stand a good chance to be able to save some money using these tips. Finding affordable coverage is easy if you know what you’re doing. Although drivers must comprehend the way insurance companies compete online and take advantage of how the system works.

Lower rates by qualifying for discounts

Properly insuring your vehicles can get expensive, but you may find discounts that many people don’t even know exist. Certain discounts will be triggered automatically at the time of purchase, but some may not be applied and must be asked for in order for you to get them.

  • Federal Government Employee – Employees or retirees of the government could cut as much as 10% off on Mustang coverage with select insurance companies.
  • Good Student Discount – Performing well in school can get you a discount of up to 25%. This discount can apply until age 25.
  • Save with a New Car – Buying coverage on a new vehicle can be considerably cheaper because new vehicles have to meet stringent safety requirements.
  • Pay Upfront and Save – If you pay your bill all at once instead of paying each month you may reduce your total bill.
  • More Vehicles More Savings – Having multiple cars or trucks on one policy can get a discount on all vehicles.

Keep in mind that most discounts do not apply to the entire cost. Most cut the cost of specific coverages such as comp or med pay. So when it seems like you would end up receiving a 100% discount, companies wouldn’t make money that way. But any discount will cut your overall premium however.

Car insurance companies who might offer some of the above discounts may include but are not limited to:

Check with each insurance company what discounts are available to you. Savings may not apply in your state.

Complexity of Ford Mustang insurance rates

Smart consumers have a good feel for the different types of things that play a part in calculating the rates you pay for insurance. Understanding what controls the rates you pay allows you to make educated decisions that will entitle you to lower insurance prices.

  • Choose a safe vehicle and save – Cars with high safety ratings get lower rates. The safest vehicles have better occupant injury protection and better occupant protection means less money paid by your insurance company and more competitive rates for policyholders. If your Ford Mustang is rated at least an “acceptable” rating on the Insurance Institute for Highway Safety website it is probably cheaper to insure.
  • Do you work long hours in a high stress job? – Did you know your occupation can influence how much you pay for insurance? Jobs such as lawyers, executives and financial analysts are shown to have higher average rates because of stressful work requirements and long work days. Conversely, jobs such as actors, engineers and homemakers pay the least on Mustang coverage.
  • Extra add-on coverages are wasting money – There are many additional coverages that can waste your money if you aren’t careful. Things like vanishing deductibles, accident forgiveness and membership fees may be costing you every month. These may sound like a good investment when you first buy your policy, but your needs may have changed so remove them from your policy.
  • How’s your driving record? – Drivers who don’t get tickets get better rates than bad drivers. Just one ticket can bump up the cost twenty percent or more. Drivers who have serious citations such as DUI or reckless driving may need to file a proof of financial responsibility form (SR-22) to the state department of motor vehicles in order to continue driving.
  • Liability coverage is cheap – Liability insurance is the protection if a jury decides you are liable for damages caused by your negligence. Liability provides for a legal defense starting from day one. Carrying liability coverage is mandatory and cheap compared to physical damage coverage, so drivers should carry high limits.
  • Consolidate policies to earn discounts – Most companies will award you with lower prices to customers who have multiple policies with them. It’s known as a multi-policy discount. Discounts can add up to anywhere from five to ten percent in most cases. If you currently are using one company, it’s still a good idea to compare rates to make sure you are getting the best deal. You may still be able to find a better deal by buying insurance from a different company.

Car insurance is unique, just like you

When buying coverage, there really is no one size fits all plan. Each situation is unique so this has to be addressed. For instance, these questions might help in determining if you will benefit from professional help.

  • Does my personal policy cover me when driving out-of-state?
  • Will I lose any money if I cancel my policy before it expires?
  • Where can I find high-risk insurance?
  • What is an SR-22 filing?
  • Does my medical payments coverage pay my health insurance deductible?
  • Am I better off with higher deductibles on my 2010 Ford Mustang?
  • Is a new car covered when I drive it off the dealer lot?
  • Should I get collision insurance on every vehicle?

If it’s difficult to answer those questions but a few of them apply, you might consider talking to an agent. If you want to speak to an agent in your area, simply complete this short form or click here for a list of car insurance companies in your area.

Car insurance coverage breakdown

Understanding the coverages of your policy helps when choosing the right coverages and the correct deductibles and limits. The coverage terms in a policy can be difficult to understand and coverage can change by endorsement. Listed below are the normal coverages found on most car insurance policies.

Collision coverage protection

This coverage will pay to fix damage to your Mustang resulting from a collision with another vehicle or an object, but not an animal. You have to pay a deductible then your collision coverage will kick in.

Collision coverage protects against claims like crashing into a ditch, sideswiping another vehicle, scraping a guard rail and sustaining damage from a pot hole. Paying for collision coverage can be pricey, so you might think about dropping it from vehicles that are 8 years or older. Drivers also have the option to raise the deductible to get cheaper collision coverage.

Medical expense coverage

Med pay and PIP coverage reimburse you for bills for things like nursing services, EMT expenses, ambulance fees and doctor visits. They can be used in conjunction with a health insurance policy or if there is no health insurance coverage. Medical payments and PIP cover not only the driver but also the vehicle occupants and will also cover if you are hit as a while walking down the street. Personal injury protection coverage is only offered in select states and may carry a deductible

Liability car insurance

Liability coverage protects you from damage or injury you incur to other people or property that is your fault. This coverage protects you from legal claims by others, and does not provide coverage for your injuries or vehicle damage.

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 policy limits of 50/100/50 that translate to a $50,000 limit per person for injuries, $100,000 for the entire accident, and a limit of $50,000 paid for damaged property. Occasionally you may see one limit called combined single limit (CSL) that pays claims from the same limit without having the split limit caps.

Liability coverage pays for claims like medical services, emergency aid, bail bonds and repair bills for other people’s vehicles. How much liability should you purchase? That is your choice, but you should buy higher limits if possible.

Comprehensive protection

Comprehensive insurance coverage pays to fix your vehicle from damage OTHER than collision with another vehicle or object. You need to pay your deductible first then the remaining damage will be covered by your comprehensive coverage.

Comprehensive can pay for things such as hitting a deer, a tree branch falling on your vehicle and damage from flooding. The highest amount a car 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.

Uninsured or underinsured coverage

This gives you protection when other motorists either have no liability insurance or not enough. Covered claims include injuries to you and your family and also any damage incurred to your Ford Mustang.

Since a lot of drivers only purchase the least amount of liability that is required, it only takes a small accident to exceed their coverage. That’s why carrying high Uninsured/Underinsured Motorist coverage is important protection for you and your family. Frequently these coverages do not exceed the liability coverage limits.

Stretch your dollar

Affordable 2010 Ford Mustang insurance can be found both online in addition to many insurance agents, and you need to comparison shop both to have the best chance of lowering rates. Some insurance providers do not provide the ability to get a quote online and usually these smaller companies provide coverage only through local independent agents.

You just read a lot of ways to shop for insurance online. The key concept to understand is the more price quotes you have, the better likelihood of reducing your rate. You may even find the best prices are with some of the smallest insurance companies. Regional companies may only write in your state and offer lower rates than their larger competitors like State Farm or Progressive.

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