How Much Does 1998 Ford Mustang SVT Cobra Insurance Cost?

Searching for the cheapest auto insurance rates for your Ford Mustang SVT Cobra? Have you had enough of trying to scrape together enough money to insure your Ford every month? You are in the same boat as millions of other vehicle owners.

Due to the abundance of companies to choose from, it’s nearly impossible to choose the lowest cost company.

You should make it a habit to get comparison quotes yearly since prices change regularly. Even if you think you had the best deal for Mustang SVT Cobra insurance at your last renewal you can probably find a lower rate today. Ignore everything you know about auto insurance because you’re about to learn the quickest way to find lower rates on auto insurance.

Cheaper insurance rates with discounts

Insurance can be prohibitively expensive, but there could be available discounts that many consumers don’t even know exist. Certain credits will be shown when you complete an application, but a few must be requested specifically before you get the savings.

  • Discounts for Federal Employees – Federal government employees can earn a discount up to 10% for Mustang SVT Cobra insurance depending on your insurance provider.
  • First Accident Forgiveness – Not a discount per se, but some insurance companies may permit one accident before hitting you with a surcharge if you are claim-free for a certain period of time.
  • Air Bags and Passive Restraints – Factory options such as air bags or automatic seat belts may qualify for discounts of more than 20%.
  • Own a Home – Simply owning a home can save you money because owning a home shows financial diligence.
  • Savings for New Vehicles – Insuring a vehicle that is new can be considerably cheaper due to better safety requirements for new model year vehicles.
  • 55 and Retired – If you’re over the age of 55, you may be able to get reduced rates for Mustang SVT Cobra insurance.
  • Use Seat Belts – Drivers who require all vehicle occupants to fasten their seat belts could save 15% on the premium charged for medical payments and/or PIP.
  • Good Grades Discount – This discount may save you up to 25%. You can use this discount normally up until you turn 25.
  • Early Renewal Discounts – Select companies give a discount for buying a new policy prior to your current policy expiration. It can save you around 10%.
  • Theft Deterent – Anti-theft and alarm system equipped vehicles have a lower chance of being stolen and will qualify for a discount on a auto insurance quote.

We need to note that most discount credits are not given the the whole policy. Some only reduce the cost of specific coverages such as physical damage coverage or medical payments. If you do the math and it seems like adding up those discounts means a free policy, that’s just not realistic.

Large insurance companies and some of the discounts are included below.

  • Progressive policyholders can earn discounts including good student, multi-vehicle, online quote discount, multi-policy, online signing, and continuous coverage.
  • The Hartford offers discounts including air bag, bundle, driver training, good student, anti-theft, and vehicle fuel type.
  • Mercury Insurance discounts include age of vehicle, type of vehicle, location of vehicle, ease of repair, good driver, professional/association, and good student.
  • Geico has savings for emergency military deployment, federal employee, air bags, multi-vehicle, and anti-lock brakes.
  • AAA may include discounts for education and occupation, multi-policy, AAA membership discount, multi-car, good student, and anti-theft.
  • State Farm may have discounts that include good driver, multiple policy, passive restraint, driver’s education, and multiple autos.

If you want affordable auto insurance quotes, ask each insurance company which discounts you may be entitled to. All car insurance discounts might not be offered in your area.

How to get low cost auto insurance

When shopping for cheaper auto insurance quotes, there are a couple of ways of comparing rate quotes from companies that offer auto insurance in your state. One of the best ways to do a complete rate comparison consists of obtaining rate quotes online. This is very easy and can be done using a couple different methods.

  • The most efficient way consumers can make multiple comparisons is to use a rate comparison form (click to open form in new window). This form saves time by eliminating repetitive form entry for each company. One form submission gets insurance cost estimates from multiple companies.
  • A more time consuming way to shop for auto insurance online consists of going to the website for each individual company to complete their respective quote request forms. For sake of this example, let’s assume you want rates from Progressive, Esurance and American Family. To get each rate you have to go to every website and type in your information over and over, which can get old fast.

    For a list of companies in your area, click here.

It doesn’t matter which method you choose, just make sure you compare the exact same coverage information with each company. If you have different deductibles it’s impossible to make a fair rate comparison. Even a minor difference in coverages could skew the results. Just remember that making a lot of price comparisons increases the change that you will find the best rates.

Why you might pay lower rates

A large part of saving on insurance is knowing the different types of things that are used to determine insurance rates. If you have a feel for what impacts premium levels, this allows you to make good choices that may reward you with much lower annual insurance costs.

The factors shown below are a few of the “ingredients” companies use to determine your rates.

  • Younger drivers are expensive to insure – Beginning drivers have a tendency to be careless and easily distracted when driving with friends and because of this, their insurance rates are much higher. Parents adding a teen driver to your policy can cause a big jump in price. Older people have been proven to be more responsible, are lower risk to insure , and usually have better credit.
  • Insure your auto and home with one company – Lots of insurers allow lower prices for people that purchase more than one policy such as combining an auto and homeowners policy. The discount can be anywhere from five to ten percent in most cases. Even with this discount applied, it’s still a good idea to compare other company rates to confirm you are receiving the best rates possible.
  • Do you really need roadside assistance? – There are quite a few additional extra coverages you can purchase if you aren’t careful. Coverages like replacement cost coverage, accidental death, and extra life insurance coverage could be just wasting money. The coverages may be enticing when deciding what coverages you need, but your needs may have changed so eliminate them to save money.
  • Occupation and insurance prices – Do you have a high-stress occupation? Occupations such as real estate brokers, business owners and dentists generally pay higher rates than the rest of us because of intense work requirements and long work days. Other professions such as actors, athletes and performers get better rates for Mustang SVT Cobra insurance.

Tailor your insurance coverage coverage to you

When it comes to choosing adequate coverage for your personal vehicles, there really is not a cookie cutter policy. Everyone’s situation is a little different so your insurance should reflect that For example, these questions can help discover if your insurance needs could use an agent’s help.

  • Can I pay claims out-of-pocket if I buy high deductibles?
  • Am I covered when driving in Canada or Mexico?
  • Should I get collision insurance on every vehicle?
  • Who is covered by my policy?
  • Do I benefit by insuring my home with the same company?
  • How high should deductibles be on a 1998 Ford Mustang SVT Cobra?
  • How much underlying liability do I need for an umbrella policy?
  • Can I get a multi-policy discount?
  • Should I buy only the required minimum liability coverage?
  • Is a blown tire covered by insurance?

If it’s difficult to answer those questions but one or more may apply to you then you might want to talk to an agent. To find lower rates from a local agent, take a second and complete this form or click here for a list of insurance coverage companies in your area.

Car insurance specifics

Knowing the specifics of a car insurance policy can help you determine which coverages you need and the correct deductibles and limits. The coverage terms in a policy can be confusing and coverage can change by endorsement. Below you’ll find the normal coverages available from car insurance companies.

Comprehensive coverages

This coverage pays to fix your vehicle from damage caused by mother nature, theft, vandalism and other events. 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 vandalism, damage from a tornado or hurricane, rock chips in glass and hitting a deer. The highest amount your car insurance company will pay is the market value of your vehicle, so if it’s not worth much more than your deductible consider dropping full coverage.

Liability auto insurance

Liability insurance will cover damage that occurs to other’s property or people. This insurance protects YOU from claims by other people. Liability doesn’t cover damage sustained by your vehicle in an accident.

It consists of three limits, bodily injury for each person, bodily injury for the entire accident, and a limit for property damage. You might see limits of 50/100/50 that translate to a limit of $50,000 per injured person, a limit of $100,000 in injury protection per accident, and property damage coverage for $50,000.

Liability coverage pays for things like emergency aid, medical services, court costs, funeral expenses and attorney fees. How much coverage you buy is up to you, but you should buy as large an amount as possible.

Collision coverage protection

This coverage pays for damage to your Mustang SVT Cobra resulting from colliding with an object or car. You will need to pay your deductible then your collision coverage will kick in.

Collision coverage protects against claims such as damaging your car on a curb, backing into a parked car, rolling your car, driving through your garage door and hitting a parking meter. Collision is rather expensive coverage, so consider removing coverage from vehicles that are older. Another option is to bump up the deductible to get cheaper collision coverage.

Uninsured and underinsured coverage

This coverage provides protection from other motorists when they either have no liability insurance or not enough. Covered claims include hospital bills for your injuries as well as damage to your 1998 Ford Mustang SVT Cobra.

Because many people only carry the minimum required liability limits, it only takes a small accident to exceed their coverage. So UM/UIM coverage is a good idea.

Coverage for medical payments

Medical payments and Personal Injury Protection insurance kick in for immediate expenses such as ambulance fees, X-ray expenses and nursing services. They can be used in conjunction with a health insurance plan or if there is no health insurance coverage. They cover all vehicle occupants and also covers any family member struck as a pedestrian. Personal Injury Protection is not an option in every state but it provides additional coverages not offered by medical payments coverage

Best coverage at the best price

When trying to cut insurance costs, you should never buy less coverage just to save a little money. In too many instances, an insured dropped comprehensive coverage or liability limits to discover at claim time that they should have had better coverage. The ultimate goal is to buy a smart amount of coverage at the best price while still protecting your assets.

You just read a lot of information how to shop for 1998 Ford Mustang SVT Cobra insurance online. The most important thing to understand is the more you quote auto insurance, the better likelihood of getting the cheapest auto insurance. Consumers may even find the lowest prices come from a small local company. These companies can often insure niche markets at a lower cost as compared to the big name companies such as State Farm or Progressive.

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