Ford Mustang Insurance Quotes in Minneapolis

Really, the only way to get low-cost car insurance rates is to start comparing rates regularly from insurance carriers who provide car insurance in Minneapolis. You can shop around by completing these steps.

• Step 1: Gain an understanding of how your policy works and the changes you can make to keep rates down. Many rating factors that are responsible for high rates such as multiple speeding tickets and an unacceptable credit score can be rectified by making small lifestyle or driving habit changes.
• Step 2: Request price quotes from direct carriers, independent agents, and exclusive agents. Direct companies and exclusive agencies can only provide price estimates from one company like GEICO or Allstate, while independent agents can provide rate quotes from many different companies. Get quotes now
• Step 3: Compare the new rates to the premium of your current policy to see if you can save by switching companies. If you find a lower rate quote and make a switch, verify that coverage does not lapse between policies.

One thing to remember is to compare identical coverages on every quote and and to analyze as many companies as feasibly possible. This ensures an accurate price comparison and a complete price analysis.

It’s an obvious assumption that auto insurance companies want to keep your business as long as possible. Consumers who compare other prices will presumably buy a new policy because of the good chance of finding a lower-priced company. A recent insurance study discovered that drivers who compared rates annually saved on average $850 each year as compared to drivers who never shopped around for lower prices.

If finding the lowest price for car insurance is your objective, learning how to compare cheaper coverage can make it easier to find better rates.

Buying the cheapest insurance in Minneapolis is really not that difficult. If you have coverage now, you will surely be able to get lower rates using the concepts covered in this article. Smart buyers just need to use the most effective way to compare different rates from many companies at once.

What Determines Ford Mustang Insurance Prices?

Many things are part of the equation when quoting car insurance. A few of the factors are predictable like your driving record, but other factors are not as apparent such as your credit history and annual miles driven. When buying car insurance it’s important to understand the rating factors that help calculate the rates you pay for car insurance. If you have some idea of what influences your rates, this enables you to make decisions that could result in big savings.

The list below includes some of the items utilized by car insurance companies to help set rates.

• Rates and vocation – Did you know your car insurance rates can be affected by your occupation? Occupations like real estate brokers, business owners, and emergency personnel have higher premium rates attributed to intense work requirements and lots of time spent away from family. Other occupations such as professors, engineers and performers have lower than average premiums.

• Gender impacts costs – The statistics show that women are safer drivers than men. However, don’t assume that men are worse drivers. Both sexes cause at-fault accidents at a similar rate, but men have costlier accidents. In addition to higher claims, males also get ticketed for serious violations like DWI (DUI) or reckless driving. Young males cause the most accidents and are penalized with high car insurance rates.

  The information below visualizes the comparison of Ford Mustang premium costs for male and female drivers. The price estimates are based on a clean driving record, no at-fault accidents, comp and collision included, $500 deductibles, drivers are single, and no discounts are applied.

• Extra policy coverages are wasting money – Insurance policies have a lot of extra add-on coverages that sound like a good idea at the time on your Mustang policy. Things like roadside assistance, towing coverage, and extra life insurance coverage are some examples. They may sound like good ideas initially, but your needs may have changed so eliminate the coverages to reduce your premium.
• Cars with good safety ratings means lower prices – Safe vehicles get lower rates. Safer cars reduce the chance of injuries and reduced instances of injuries translates directly to fewer claims passed on to you as lower rates.

• Vehicle risk affects rates – The performance of the car you need to insure makes a substantial difference in your auto insurance rates. The cheapest insurance rates will normally be found when insuring small economy passenger cars, but the cost you end up paying is determined by many additional factors.

  The chart below uses these variables: married female driver age 30, full coverage with $250 deductibles, and no discounts or violations. The chart compares Ford Mustang insurance rates compared to other models that have different performances.

• Loss statistics for a Ford Mustang – Insurance companies analyze the history of losses when they file their rates in each state. Models that are shown to have a trend towards higher claim severity or frequency will be charged more to insure.

  The table below demonstrates the compiled insurance loss statistics for Ford Mustang vehicles. For each coverage type, the claim probability for all vehicles, regardless of manufacturer or model, equals 100. Percentages below 100 represent a good loss history, while percentages above 100 point to more frequent losses or an increased probability of a larger loss.

  
  

  Ford Mustang Insurance Loss Statistics

  Specific Ford Model	Collision	Property Damage	Comp	Personal Injury	Medical Payment	Bodily Injury
  Ford Mustang 2dr	175	80	131	109	136	117
  Ford Mustang GT 2dr	171	61	143	82

  BETTER

  AVERAGE

  WORSE

  Empty fields indicate not enough data collected
  Statistics from IIHS.org for 2013-2015 Model Years

Facts and figures for Ford Mustang insurance

The rate table shown next showcases detailed analysis of insurance costs for Ford Mustang models. Having insight into how auto insurance policy rates are calculated can be valuable when making decisions on the best policy coverages.

Price data assumes married male driver age 50, no speeding tickets, no at-fault accidents, $500 deductibles, and Minnesota minimum liability limits. Discounts applied include multi-vehicle, homeowner, multi-policy, claim-free, and safe-driver. Rate information does not factor in specific garaging location which can modify prices noticeably.

Physical damage deductible comparison

When shopping for auto insurance, a common question is which comprehensive and collision deductibles to buy. The premium rates below may help to conceptualize the price difference of buying low and high policy deductibles. The first price estimate table uses a $250 physical damage deductible and the second pricing table uses a $500 deductible.

Data rating is based on married male driver age 30, no speeding tickets, no at-fault accidents, and Minnesota minimum liability limits. Discounts applied include homeowner, multi-vehicle, claim-free, multi-policy, and safe-driver. Prices do not factor in specific Minneapolis garaging location which can revise auto insurance rates significantly.

Based on these figures, using a $250 deductible costs an average of $17 more each month or $204 annually across all Ford Mustang models than choosing the higher $500 deductible. Because you would pay $250 more if you file a claim with a $500 deductible as compared to a $250 deductible, if you tend to have at least 15 months between claims, you would come out ahead by selecting a higher deductible.

Full coverage rates compared to liability-only

The illustration below shows the difference between Ford Mustang insurance costs with full coverage and liability only. The premium estimates are based on a clean driving record, no at-fault accidents, $500 deductibles, single status, and no discounts are applied to the premium.

Guidelines for dropping full coverage

There is no written rule to delete comp and collision coverage, but there is a general guideline you can use. If the annual cost of having full coverage is 10% or more of the vehicle’s replacement cost less your deductible, the it may be a good time to stop paying for full coverage.

For example, let’s pretend your Ford Mustang replacement value is $6,000 and you have $1,000 deductibles. If your vehicle is damaged in an accident, the most you would receive is $5,000 after you pay the deductible. If it’s costing in excess of $500 a year for your policy with full coverage, then it might be time to consider dropping full coverage.

There are some cases where buying only liability insurance is not a good plan. If you haven’t paid off your loan, you have to maintain full coverage in order to satisfy the requirements of the loan. Also, if your finances do not allow you to purchase a different vehicle if your current one is in an accident, you should not opt for liability only.

Get cheaper Ford Mustang insurance rates in Minneapolis

Some providers don’t list every possible discount in a way that’s easy to find, so here is a list both well-publicized and the harder-to-find discounts you could be receiving when you buy Minneapolis auto insurance online. If you check and find you aren’t receiving every discount you qualify for, you are not getting the best rate possible.

• Discount for Life Insurance – If the company offers life insurance, you could get a discount if you purchase life insurance.
• Pay Early and Save – If you can afford to pay the entire bill rather than paying in monthly installments you can actually save on your bill.
• First Accident Forgiveness – Not really a discount, but a few companies such as Progressive, State Farm and GEICO will let one accident slide without getting socked with a rate hike so long as you are claim-free for a certain period of time.
• Switch and Save Discount – Some companies reward drivers for buying a policy before your current coverage expires. It could save around 10% when you buy Minneapolis auto insurance online.
• Online Discount – A handful of auto insurance companies will discount your bill up to fifty bucks for buying your policy online.
• Drivers Education – Cut your cost by having your teen driver successfully take a driver’s education course in high school.
• Defensive Driver Discount – Successfully completing a course teaching defensive driver skills could earn you a small percentage discount and easily recoup the cost of the course.
• Smart Student Discounts – Excelling in school may save you up to 25%. The good student discount can last until age 25.
• Active Service Discounts – Being on active deployment in the military may qualify for rate reductions.
• Theft Deterrent – Cars with anti-theft systems have a lower chance of being stolen so companies will give you a small discount.

A little disclaimer on discounts, many deductions do not apply to your bottom line cost. Most only reduce specific coverage prices like liability, collision or medical payments. So even though it sounds like you would end up receiving a 100% discount, it just doesn’t work that way. Any amount of discount should help reduce the amount you pay for coverage.

The chart below illustrates the comparison of Ford Mustang insurance costs with and without discounts applied to the rates. The costs are based on a female driver, no violations or claims, Minnesota state minimum liability limits, comprehensive and collision coverage, and $250 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with multi-policy, multi-car, claim-free, safe-driver, homeowner, and marriage discounts applied.

To see a list of auto insurance companies who offer cheap Ford Mustang insurance quotes in Minneapolis in Minneapolis, click here.

Do the work, save more money

The cheapest Ford Mustang insurance in Minneapolis can be found from both online companies as well as from insurance agents, and you should compare rates from both in order to have the best chance of saving money. A few companies do not offer online rate quotes and these small, regional companies provide coverage only through local independent agencies.

As you restructure your insurance plan, make sure you don’t buy poor coverage just to save money. Too many times, someone sacrificed comprehensive coverage or liability limits only to discover later that the small savings ended up costing them much more. The ultimate goal is to buy the best coverage you can find at the best cost.

You just learned a lot of information how to compare Ford Mustang insurance premium rates in Minneapolis. The key concept to understand is the more you quote Minneapolis auto insurance, the better your chances of lowering your prices. Consumers may even find the biggest savings come from an unexpected company.

Additional information can be read at the links below

• What is Covered by an Auto Insurance Policy? (Insurance Information Institute)
• Who Has the Cheapest Car Insurance Quotes for Teenagers in Minneapolis? (FAQ)
• What Auto Insurance is Cheapest for a Toyota RAV4 in Minneapolis? (FAQ)
• How Much are Auto Insurance Rates for Young Drivers in Minneapolis? (FAQ)
• Who Has Affordable Minneapolis Auto Insurance for Drivers with Bad Credit? (FAQ)
• Who Has Cheap Auto Insurance Rates for a Chevrolet Equinox in Minneapolis? (FAQ)
• Who Has Affordable Auto Insurance Rates for a Subaru Outback in Minneapolis? (FAQ)
• Automakers compete to add autobraking (Insurance Institute for Highway Safety)
• Determining Auto Insurance Rates (GEICO)
• How to shop for a safer car (Insurance Institute for Highway Safety)
• How Much Auto Coverage do I Need? (Insurance Information Institute)