How Much Does 1998 Ford Mustang Insurance Cost?

Looking for the cheapest auto insurance rates for your Ford Mustang? Are you sick and tired of not being able to afford to buy car insurance? Your situation is no different than many other drivers. Many car insurance companies vie for your hard-earned dollar, so it’s not easy to compare every company and get the definite best rates possible.

Lower rates by qualifying for discounts

Insurance can be prohibitively expensive, but there could be available discounts that you may not know about. Certain discounts will be applied at the time of quoting, but some may not be applied and must be inquired about prior to getting the savings. If you aren’t receiving every discount you qualify for, you are paying more than you should be.

  • Homeowners Discount – Being a homeowner may trigger a insurance policy discount because of the fact that having a home requires personal responsibility.
  • Senior Citizens – Older drivers may be able to get reduced rates for Mustang insurance.
  • More Vehicles More Savings – Buying coverage for multiple cars or trucks on one policy may reduce the rate for each vehicle.
  • Driver Safety – Completing a course in driver safety could possibly earn you a 5% discount if you qualify.
  • Pay Upfront and Save – If paying your policy premium upfront instead of monthly or quarterly installments you may reduce your total bill.
  • Sign Early and Save – A few companies offer discounts for signing up before your current expiration date. It can save you around 10%.
  • Discount for Good Grades – Getting good grades can earn a discount of 20% or more. The good student discount can last until age 25.

Drivers should understand that most of the big mark downs will not be given to the overall cost of the policy. The majority will only reduce specific coverage prices like medical payments or collision. So when it seems like having all the discounts means you get insurance for free, insurance companies aren’t that generous. But any discount will help reduce the amount you have to pay.

Car insurance companies that possibly offer these money-saving discounts include:

It’s a good idea to ask all companies you are considering what discounts are available to you. Savings may not apply everywhere.

These factors can influence Ford Mustang insurance rates

An important part of buying insurance is that you know some of the elements that play a part in calculating the rates you pay for auto insurance. Having a good understanding of what controls the rates you pay empowers consumers to make smart changes that will entitle you to much lower annual insurance costs.

  • Lower deductibles cost more – Deductibles for physical damage define the amount you are willing to pay out-of-pocket before a claim is paid by your company. Coverage for physical damage, commonly called comprehensive (or other-than-collision) and collision coverage, covers damage that occurs to your car. Some instances where coverage would apply could be running into the backend of another car, damage from fire, and burglary. The higher the amount you are required to pay out-of-pocket, the bigger discount you will receive for Mustang insurance.
  • Your job and insurance rates – Careers like real estate brokers, executives and accountants tend to pay higher rates than average in part from job stress and lengthy work days. On the flip side, occupations such as farmers, athletes and the unemployed have the lowest average rates for Mustang insurance.
  • Careful drivers pay lower rates – Careful drivers have lower premiums compared to drivers with tickets. Even one moving violation can boost insurance rates by as much as thirty percent. Drivers who have flagrant citations such as reckless driving, hit and run or driving under the influence may need to submit a SR-22 form to the state department of motor vehicles in order to keep their license.
  • Lower rates with optional equipment – Purchasing a vehicle that has an advanced theft prevention system can save you a little every year. Anti-theft devices like vehicle immobilizer systems, General Motors OnStar and LoJack tracking systems all aid in stopping your car from being stolen.
  • Pleasure use or commuting – The higher the mileage driven every year the higher your rate. Most insurance companies charge to insure your cars based upon how you use the vehicle. Autos left parked in the garage receive lower rates than those used for commuting. Make sure your auto insurance declarations sheet properly reflects the correct usage for each vehicle, because improper ratings can cost you money. If your policy improperly rates your Mustang may be wasting your money.

Car insurance is unique, just like you

When it comes to buying coverage for your vehicles, there really is not a “best” method to buy coverage. Each situation is unique so your insurance should reflect that These are some specific questions might point out whether you might need professional guidance.

  • What if I total my 1998 Ford Mustang and owe more than it’s worth?
  • Is business property covered if stolen from my car?
  • What companies insure drivers after a DUI or DWI?
  • At what point should I drop full coverage?
  • How high should my medical payments coverage be?
  • Is borrowed equipment or tools covered if stolen or damaged?
  • Does medical payments coverage apply to all occupants?
  • Does coverage extend to a rental car in a foreign country?

If you’re not sure about those questions but a few of them apply then you might want to talk to a licensed agent. To find an agent in your area, take a second and complete this form or you can also visit this page to select a carrier It only takes a few minutes and can provide invaluable advice.

The fine print in car insurance ads

Consumers get pounded daily by advertisements that promise big savings by 21st Century, Allstate and State Farm. They all seem to make the same claim that you’ll save big if you change to their company.

How can each company claim to save you money? It’s all in the numbers.

Different companies are able to cherry pick for the type of customer that makes them money. An example of a profitable customer might be profiled as over the age of 50, insures multiple vehicles, and drives newer vehicles. A propective insured who fits that profile is entitled to the best price and is almost guaranteed to pay quite a bit less when switching companies.

Potential insureds who don’t measure up to the requirements will be quoted more money which usually ends up with the customer not buying. The ads state “customers who switch” not “people who quote” save that much money. That’s why companies can claim big savings.

This emphasizes why you should get as many comparisons as possible. It is impossible to predict which car insurance company will have the lowest Ford Mustang insurance rates.

Learn about car insurance coverages for a Ford Mustang

Understanding the coverages of your car insurance policy can help you determine the right coverages at the best deductibles and correct limits. The coverage terms in a policy can be confusing and reading a policy is terribly boring. These are the normal coverages offered by car insurance companies.

Comprehensive auto coverage – This coverage will pay to fix damage that is not covered by collision coverage. You need to pay your deductible first then the remaining damage will be covered by your comprehensive coverage.

Comprehensive coverage protects against claims like fire damage, a tree branch falling on your vehicle, damage from getting keyed, hail damage and hitting a bird. The highest amount you can receive from a comprehensive claim is the actual cash value, so if the vehicle’s value is low it’s probably time to drop comprehensive insurance.

Auto liability insurance – Liability insurance can cover damage that occurs to a person or their property by causing an accident. It protects you against claims from other people, and doesn’t cover your own vehicle damage or injuries.

Split limit liability has three limits of coverage: bodily injury for each person injured, bodily injury for the entire accident and a property damage limit. Your policy might show limits of 25/50/25 that translate to $25,000 in coverage for each person’s injuries, a per accident bodily injury limit of $50,000, and property damage coverage for $25,000. Alternatively, you may have a combined limit which provides one coverage limit with no separate limits for injury or property damage.

Liability coverage protects against things like funeral expenses, structural damage and repair costs for stationary objects. The amount of liability coverage you purchase is a personal decision, but you should buy as high a limit as you can afford.

UM/UIM (Uninsured/Underinsured Motorist) coverage – Your UM/UIM coverage gives you protection when other motorists either have no liability insurance or not enough. This coverage pays for injuries sustained by your vehicle’s occupants and also any damage incurred to your Ford Mustang.

Since many drivers only purchase the least amount of liability that is required, their liability coverage can quickly be exhausted. For this reason, having high UM/UIM coverages is a good idea. Most of the time these coverages do not exceed the liability coverage limits.

Medical payments and PIP coverage – Personal Injury Protection (PIP) and medical payments coverage kick in for expenses such as rehabilitation expenses, nursing services and doctor visits. They are used to cover expenses not covered by your health insurance policy or if you lack health insurance entirely. It covers both the driver and occupants and also covers being hit by a car walking across the street. PIP coverage is not an option in every state but it provides additional coverages not offered by medical payments coverage

Collision – Collision insurance will pay to fix damage to your Mustang from colliding with another vehicle or an object, but not an animal. A deductible applies and the rest of the damage will be paid by collision coverage.

Collision coverage protects against claims like crashing into a building, rolling your car, sideswiping another vehicle, crashing into a ditch and colliding with another moving vehicle. Paying for collision coverage can be pricey, so consider removing coverage from vehicles that are 8 years or older. Drivers also have the option to increase the deductible to save money on collision insurance.

And the best car insurance company is…

You just learned a lot of ways to compare 1998 Ford Mustang insurance prices online. The key thing to remember is the more quotes you get, the better your comparison will be. You may be surprised to find that the biggest savings come from a company that doesn’t do a lot of advertising. Regional companies often have lower prices on specific markets than the large multi-state companies such as Allstate, GEICO and Progressive.

As you go through the steps to switch your coverage, never sacrifice coverage to reduce premiums. There are too many instances where an accident victim reduced collision coverage and found out when filing a claim that their decision to reduce coverage ended up costing them more. The aim is to purchase plenty of coverage at the best price while still protecting your assets.

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