2004 Ford Mustang Insurance Rates – 5 Ideas for Cheaper Quotes

Trying to find lower insurance coverage rates for your Ford Mustang? Wish you could get out of high-priced insurance coverage? Don’t feel bad because you’re not the only one.

Insurance companies such as Progressive, GEICO and Farmers Insurance promote their brand names with ad campaigns and it is challenging if not impossible to see past the geckos and flying pigs and do the work needed to find the best deal.

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 not that difficult. Although car owners must comprehend how insurance companies price online insurance.

How to compare car insurance rate quotes

Most larger insurance companies make it easy to get pricing on their websites. Getting prices online is pretty painless as you just type in your required coverages into the quote form. When the form is submitted, the system obtains your driving and credit reports and returns pricing information determined by many factors. Online price quotes helps simplify price comparisons, but the time it takes to visit several different sites and type in your information is a waste of time. But it’s also necessary to do this in order to get lower prices.

There is a better way!

A quicker way to find cheaper rates uses one form that obtains quotes from more than one company. This type of form saves time, helps eliminate reptitive entry, and makes online price comparison much easier. As soon as the form is sent, it is rated and you are able to buy any one of the quotes that you receive. If one or more price quotes are lower than your current rates, you can simply submit the application and purchase coverage. The entire process just takes a couple of minutes and you’ll know if lower rates are available.

To quickly find out how much you’re overpaying now, click here to open in a new tab and fill out the form. If you currently have coverage, we recommend you duplicate the coverages as close as possible to your current policy. This ensures you are getting a fair comparison based on similar coverages.

Advertising myths

Big name companies like Allstate, GEICO and Progressive regularly use television, radio, and online ads. All the ads try to convey promises that you can save if you just switch to their company. How does every insurance company offer drivers better rates?

Different companies look for specific characteristics for the driver that will be a good risk. For example, a desirable risk might be over the age of 50, has no prior claims, and has a high credit rating. Someone who matches those parameters will get very good prices and will also save if they switch.

Potential insureds who are not a match for this ideal profile will get a higher rate with the end result being business going elsewhere. The ad wording is “customers that switch” not “everyone who quotes” save that kind of money. That is how companies can truthfully make the claims of big savings. Because of the profiling, you absolutely need to compare quotes as often as possible. Because you never know which company will have the best rates for your profile.

Cheaper insurance quotes with discounts

Insurance can cost an arm and a leg, but you might find some hidden discounts that could help you make your next renewal payment. Certain discounts will be triggered automatically when you purchase, but lesser-known reductions have to be asked for before you will receive the discount. If you aren’t receiving every discount you deserve, you are paying more than you should be.

  • Good Student Discount – This discount can earn a discount of 20% or more. Most companies allow this discount until age 25.
  • Life Insurance – Companies who offer life insurance give lower prices if you buy some life insurance too.
  • Pay Now and Pay Less – If you can afford to pay the entire bill as opposed to paying monthly you could save up to 5%.
  • Buy New and Save – Putting insurance coverage on a new car can be considerably cheaper since new model year vehicles are generally safer.
  • Low Mileage – Low annual miles could qualify for lower rates due to less chance of an accident.

Don’t be shocked that some of the credits will not apply to the entire policy premium. Most cut the cost of specific coverages such as physical damage coverage or medical payments. Even though it may seem like all the discounts add up to a free policy, it’s just not the way it works. But any discount will bring down the premium cost.

A few popular companies and their possible discounts are shown below.

  • State Farm policyholders can earn discounts including multiple policy, driver’s education, good student, good driver, and defensive driving training.
  • Progressive has discounts for good student, online quote discount, online signing, multi-policy, and continuous coverage.
  • Progressive discounts include continuous coverage, multi-vehicle, online signing, online quote discount, homeowner, and good student.
  • MetLife may include discounts for defensive driver, multi-policy, good driver, accident-free, and good student.
  • Farm Bureau offers premium reductions for driver training, safe driver, youthful driver, multi-policy, and multi-vehicle.
  • GEICO includes discounts for multi-vehicle, seat belt use, daytime running lights, anti-theft, air bags, and good student.
  • SAFECO offers discounts for anti-lock brakes, safe driver, homeowner, multi-car, and teen safety rewards.

When comparing rates, check with each company to apply every possible discount. Some discounts may not apply to policyholders in your state. If you would like to choose from a list of providers that offer multiple discounts, click here to view.

Tailor your insurance coverage to you

When buying coverage, there isn’t really a best way to insure your cars. Each situation is unique so this has to be addressed. For instance, these questions could help you determine whether your personal situation will benefit from professional help.

  • Am I covered when driving someone else’s vehicle?
  • Is my teenager covered with friends in the car?
  • Does my policy pay for OEM or aftermarket parts?
  • Why am I be forced to buy a membership to get insurance from some companies?
  • Do I need to file an SR-22 for a DUI in my state?
  • Should I rate my 2004 Ford Mustang as pleasure use or commute?

If you can’t answer these questions but you know they apply to you then you might want to talk to a licensed insurance agent. To find lower rates from a local agent, complete this form or you can go here for a list of companies in your area.

Insurance policy specifics

Learning about specific coverages of insurance aids in choosing the best coverages and proper limits and deductibles. The coverage terms in a policy can be ambiguous and reading a policy is terribly boring. Listed below are typical coverage types offered by insurance companies.

Collision insurance

Collision insurance pays for damage to your Mustang caused by collision with another car or object. You first must pay a deductible and then insurance will cover the remainder.

Collision can pay for things such as colliding with another moving vehicle, hitting a parking meter, hitting a mailbox, sustaining damage from a pot hole and sideswiping another vehicle. This coverage can be expensive, so consider removing coverage from older vehicles. You can also increase the deductible to save money on collision insurance.

Comprehensive coverage

Comprehensive insurance coverage pays for damage from a wide range of events other than collision. A deductible will apply then the remaining damage will be covered by your comprehensive coverage.

Comprehensive coverage protects against claims like falling objects, vandalism, theft, hitting a deer and a broken windshield. The maximum payout a insurance company will pay at claim time is the actual cash value, so if it’s not worth much more than your deductible it’s not worth carrying full coverage.

Uninsured/Underinsured Motorist coverage

This provides protection when other motorists either have no liability insurance or not enough. This coverage pays for hospital bills for your injuries and also any damage incurred to your 2004 Ford Mustang.

Since a lot of drivers carry very low liability coverage limits, their limits can quickly be used up. For this reason, having high UM/UIM coverages is important protection for you and your family.

Medical payments coverage and PIP

Med pay and PIP coverage pay for immediate expenses for things like hospital visits, pain medications, rehabilitation expenses, chiropractic care and prosthetic devices. The coverages can be used in conjunction with a health insurance program or if you do not have health coverage. They 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 is not universally available and may carry a deductible

Coverage for liability

This coverage protects you from damages or injuries you inflict on a person or their property that is your fault. It consists of three limits, bodily injury for each person injured, bodily injury for the entire accident and a property damage limit. As an example, you may have policy limits of 100/300/100 which means $100,000 in coverage for each person’s injuries, $300,000 for the entire accident, and property damage coverage for $100,000.

Liability can pay for claims like medical expenses, repair costs for stationary objects, pain and suffering, repair bills for other people’s vehicles and emergency aid. How much liability should you purchase? That is up to you, but you should buy as high a limit as you can afford.

Spend less. Save more.

Cheaper 2004 Ford Mustang insurance can be sourced online and also from your neighborhood agents, so you should be comparing quotes from both to get a complete price analysis. A few companies may not provide internet price quotes and these regional carriers work with independent agents.

As you prepare to switch companies, it’s not a good idea to reduce coverage to reduce premium. In too many instances, consumers will sacrifice uninsured motorist or liability limits only to find out that their decision to reduce coverage ended up costing them more. The proper strategy is to purchase plenty of coverage at the lowest possible cost, not the least amount of coverage.

Much more information about insurance is available on the following sites: