How Much Does 1993 Ford Mustang Car Insurance Cost?

Searching for better auto insurance rates for your Ford Mustang? High-priced auto insurance can sap your funds and force you to make sacrifices. Performing a rate comparison is a smart way to ensure you are getting the best deal.

Due to the abundance of companies to choose from, it is hard for the average consumer to find the lowest price insurer.

It’s a good idea to get comparison quotes as often as possible because auto insurance prices change regularly. Even if you think you had the best quotes on Mustang insurance on your last policy you can probably find a better rate now. Forget all the misinformation about auto insurance because you’re about to find out one of the best ways to lower your rates without sacrificing coverage.

The purpose of this article is to teach you how car insurance quotes work and some tips to save money. If you have car insurance now, you will be able to save some money using this strategy. Nevertheless, drivers do need to know the methods companies use to market insurance on the web because it can help you find the best coverage.

Why your insurance costs might be higher

Multiple criteria are used in the calculation when pricing auto insurance. A few of the factors are predictable such as traffic violations, but some are more obscure like your vehicle usage or how safe your car is.An important part of buying insurance is that you know a few of the rating criteria that help calculate the level of your policy premiums. When consumers understand what impacts premium levels, this allows you to make good choices that can earn you big savings.

  • Your age impacts your rates – Older drivers tend to be more responsible, are lower risk to insure and are safer drivers.Young drivers have a tendency to be less responsible when driving with friends and because of this, their car insurance rates are much higher.
  • Drive fewer miles and save – The more you drive in a year’s time the higher the price you pay to insure it. Many insurance companies charge to insure your cars based upon how you use the vehicle. Cars and trucks that have low annual miles get more affordable rates as compared to vehicles used primarily for driving to work. Double check that your car insurance declarations sheet reflects annual mileage, because improper ratings can cost you money. Having the wrong rating on your Mustang may be costing you higher rates.
  • Improve your credit score – A driver’s credit history can be an important factor in determining what you pay for car insurance. If your credit score is low, you could save money insuring your 1993 Ford Mustang by taking the time to improve your credit score. People that have high credit ratings tend to be better risks to insure than drivers who have lower credit scores.
  • Optional features that lower prices – Choosing to buy a car with anti-theft technology or alarm system can earn a premium discount. Anti-theft devices like LoJack tracking devices, vehicle tamper alarm systems or GM’s OnStar system can thwart auto theft and help lower rates.
  • Battle of the sexes – Statistics show females are less aggressive when driving. However, don’t assume that women are better drivers. Both sexes are in at-fault accidents in similar percentages, but males cause more damage. Not only are claims higher, but men have more aggressive citations like DWI (DUI) or reckless driving. Male drivers age 16 to 19 generally have the highest accident percentage and thus pay the highest rates.
  • Cars with good safety ratings save money – Safer cars cost less to insure. These vehicles reduce occupant injuries and reduced instances of injuries means your insurance company pays less and lower rates for you. If the Ford Mustang is rated at a minimum an “acceptable” rating on the Insurance Institute for Highway Safety website it may be receiving lower rates.
  • Be proud to be claim-free – If you tend to file frequent claims, don’t be surprised to see either higher rates or even cancellation. Insurance companies give better rates to policyholders who file claims infrequently. Your insurance policy is designed for claims that you cannot pay yourself.

These discounts can slash insurance coverage rates

Insurance coverage is not an enjoyable expense, but there are discounts available to help offset the cost. Many discounts should be triggered at the time of quoting, but some discounts are required to be asked for before being credited.

  • First Accident Forgiveness – Not necessarily a discount, but companies like Geico, Progressive, and Allstate may permit one accident before raising your premiums with the catch being you have to be claim-free for a particular time prior to the accident.
  • College Student Discount – College-age children who live away from home at college and do not have access to a covered vehicle may be insured at a cheaper rate.
  • Auto/Life Discount – Select insurance coverage companies reward you with lower insurance coveragerates if you buy some life insurance too.
  • Air Bags and Passive Restraints – Cars that have air bags or motorized seat belts can qualify for discounts as much as 30%.
  • Bundle and Save – When you combine your home and auto insurance with the same company you may earn at least 10% off all policies.
  • Mature Driver Discount – Seniors may be able to get a slight reduction on a insurance coverage quote on Mustang insurance.
  • Seat Belts Save – Requiring all passengers to use a seat belt could cut 10% or more off PIP or medical payments premium.
  • Good Student – Being a good student can save 20 to 25%. Most companies allow this discount well after school through age 25.
  • Multi-Vehicle Discounts – Buying insurance for all your vehicles with one company can get a discount for every vehicle.

As a sidenote, most credits do not apply to the overall cost of the policy. Most only reduce specific coverage prices like physical damage coverage or medical payments. Even though it appears you could get a free insurance coverage policy, you won’t be that lucky.

To view insurers who offer discounts, click here to view.

When do I need an agent’s advice?

When it comes to buying adequate coverage, there is no “best” method to buy coverage. Everyone’s situation is a little different so your insurance should reflect that For instance, these questions can help discover whether your personal situation could use an agent’s help.

  • Do I really need UM/UIM coverage?
  • Is my nanny covered when driving my vehicle?
  • Should I put collision coverage on all my vehicles?
  • Does coverage extend to my business vehicle?
  • Who is covered by my policy?
  • Am I covered when using my vehicle for business?
  • Does coverage extend to a rental car in a foreign country?
  • Are there companies who specialize in insuring high-risk drivers?
  • Does my 1993 Ford Mustang qualify for pleasure use?

If you can’t answer these questions but you think they might apply to your situation then you might want to talk to an agent. If you don’t have a local agent, simply complete this short form or click here for a list of car insurance companies in your area.

Specific coverages for a 1993 Ford Mustang

Understanding the coverages of your policy can be of help when determining the right coverages at the best deductibles and correct limits. The coverage terms in a policy can be impossible to understand and coverage can change by endorsement. Listed below are typical coverages found on most auto insurance policies.

Liability coverage

Liability coverage provides protection from injuries or damage you cause to other people or property in an accident. This coverage protects you against other people’s claims, and doesn’t cover damage to your own property or vehicle.

It consists of three limits, per person bodily injury, per accident bodily injury, and a property damage limit. Your policy might show liability limits of 25/50/25 which stand for a $25,000 limit per person for injuries, a limit of $50,000 in injury protection per accident, and property damage coverage for $25,000. Another option is a combined single limit or CSL which combines the three limits into one amount rather than limiting it on a per person basis.

Liability can pay for things such as court costs, structural damage, medical expenses, repair costs for stationary objects and medical services. How much coverage you buy is your choice, but buy as high a limit as you can afford.

Uninsured Motorist or Underinsured Motorist insurance

This coverage gives you protection from other motorists when they do not carry enough liability coverage. Covered losses include medical payments for you and your occupants and also any damage incurred to your 1993 Ford Mustang.

Due to the fact that many drivers only purchase the least amount of liability that is required, their limits can quickly be used up. For this reason, having high UM/UIM coverages is very important. Most of the time these coverages are identical to your policy’s liability coverage.

Insurance for medical payments

Med pay and PIP coverage kick in for immediate expenses like hospital visits, chiropractic care, rehabilitation expenses, prosthetic devices and ambulance fees. They are utilized in addition to your health insurance policy or if there is no health insurance coverage. Medical payments and PIP cover you and your occupants and also covers being hit by a car walking across the street. Personal injury protection coverage is not an option in every state but it provides additional coverages not offered by medical payments coverage

Comprehensive coverage (or Other than Collision)

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

Comprehensive coverage pays for things like hitting a deer, a broken windshield, a tree branch falling on your vehicle, theft and hitting a bird. The most you can receive from a comprehensive claim is the market value of your vehicle, so if the vehicle’s value is low consider removing comprehensive coverage.

Collision insurance

This coverage covers damage to your Mustang from colliding with a stationary object or other vehicle. A deductible applies then the remaining damage will be paid by your insurance company.

Collision insurance covers things such as backing into a parked car, driving through your garage door and sideswiping another vehicle. Collision is rather expensive coverage, so you might think about dropping it from vehicles that are 8 years or older. Another option is to bump up the deductible to bring the cost down.

One last thing about your coverage

When buying insurance coverage, it’s not a good idea to buy less coverage just to save a little money. Too many times, someone sacrificed full coverage only to find out that the small savings ended up costing them much more. Your goal is to buy enough coverage at the best possible price, not the least amount of coverage.

You just read some good ideas how you can lower your 1993 Ford Mustang insurance prices. The most important thing to understand is the more providers you compare, the higher your chance of finding the cheapest insurance coverage. You may even discover the lowest priced auto insurance comes from a smaller regional carrier. They may only write in your state and offer lower rates than the large multi-state companies such as Progressive or Geico.

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