Are you tired of overpaying and want lower-priced Ford Mustang insurance in Fort Wayne? Locating better insurance prices for a Ford Mustang in Indiana can be difficult, but you can learn the following methods to find lower rates.
There are both good and bad ways to buy insurance so you’re going to learn the proper way to get price quotes on a Ford and get the lowest price either online or from Fort Wayne insurance agents.
Get Ford Mustang Insurance More Affordably
Multiple criteria are part of the equation when you get your auto insurance bill. Some are obvious such as your driving record, but some are not quite as obvious such as your marital status or your financial responsibility. Smart consumers have a good feel for some of the factors that go into determining the price you pay for auto insurance. When you know what positively or negatively impacts premium levels, this helps enable you to make changes that could help you find lower auto insurance prices.
Annual mileage and car insurance premiums – The more miles you rack up on your Ford annually the more you’ll pay to insure it. A lot of insurance companies apply a rate based on how the vehicle is used. Vehicles left parked in the garage receive lower rates than those that get driven frequently. Incorrect rating for your Mustang may be costing you. Verify your declarations sheet reflects the proper vehicle usage.
Do you really need to file those insurance claims? – If you are the type of insured that files lots of claims you can look forward to either policy cancellation or increased premiums. Auto insurance companies in Indiana generally give cheaper rates to drivers who file claims infrequently. Your car insurance is designed for claims that you cannot pay yourself.
Higher rates for coverage lapses – Having a gap between insurance policy dates will be a guaranteed way to increase your renewal premiums. Not only will you pay higher rates, not being able to provide proof of insurance can result in a revoked license or a big fine. Then you may be required to submit proof of financial responsibility or a SR-22 with the Indiana motor vehicle department to get your license reinstated.
Save money with higher deductibles – Insurance for physical damage to your car, also called ‘full coverage’, helps pay for damage to your vehicle. Some examples of covered claims are running into the backend of another car, damage from fire, and having your car stolen. The deductibles tell how much you are required to pay if the claim is covered. The more expense the insured has to pay upfront, the bigger discount you will receive.
Is your vehicle theft-ready? – Buying a car with a theft deterrent system can get you a discount on your auto insurance. Systems that thwart thieves like tamper alarm systems, vehicle immobilizer technology and General Motors OnStar all hinder auto theft.
Reduce prices by driving safer cars – Vehicles with good safety scores tend to be cheaper to insure. Vehicles engineered for safety reduce occupant injuries and fewer serious injuries translates into fewer and smaller insurance claims and thus lower rates. If your Ford Mustang is rated at least an “acceptable” rating on the Insurance Institute for Highway Safety website you are probably receiving a discount.
Ford Mustang insurance loss probability – Auto insurance companies use statistical claims data when setting rates for each model. Models that historically have higher claim amounts or frequency will have a higher premium rate. The table below outlines the compiled insurance loss statistics for Ford Mustang vehicles.
For each policy coverage type, the loss probability for all vehicles, without regard to make or model, is represented as 100. Numbers under 100 mean the vehicle has better than average losses, while values that are 100 or greater show a trend for more claims or an increased probability of a larger loss.
|Vehicle 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|
Empty fields indicate not enough data collected
Statistics from IIHS.org for 2013-2015 Model Years
Ford Mustang insurance rates and statistics
The premium information shown next covers detailed analysis of prices for Ford Mustang models. Having knowledge of how premiums are formulated is important for drivers to make smart choices when buying a policy.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|Mustang 2-Dr Convertible||$234||$504||$286||$16||$86||$1,126||$94|
|Mustang 2-Dr Coupe||$234||$504||$358||$22||$108||$1,226||$102|
|Mustang GT 2-Dr Convertible||$264||$580||$286||$16||$86||$1,232||$103|
|Mustang GT 2-Dr Coupe||$264||$580||$358||$22||$108||$1,332||$111|
|Mustang Shelby GT500 2-Dr Convertible||$294||$732||$286||$16||$86||$1,414||$118|
|Mustang Shelby GT500 2-Dr Coupe||$324||$808||$358||$22||$108||$1,620||$135|
|Get Your Own Custom Quote Go|
Above prices assume married female driver age 30, no speeding tickets, no at-fault accidents, $100 deductibles, and Indiana minimum liability limits. Discounts applied include homeowner, multi-vehicle, safe-driver, claim-free, and multi-policy. Premium costs do not factor in your specific Fort Wayne location which can lower or raise auto insurance rates significantly.
Accidents and violations increase rates
The diagram below illustrates how traffic citations and at-fault fender-benders can increase Ford Mustang auto insurance costs for different age categories. The rate quotes are based on a married male driver, comp and collision included, $1,000 deductibles, and no additional discounts are factored in.
Ford Mustang insurance rates: Men versus women
The illustration below illustrates the difference between Ford Mustang insurance rates for male and female drivers. The information is based on a clean driving record, no claims, comp and collision included, $250 deductibles, single status, and no discounts are applied to the premium.
Cheap Fort Wayne insurance rates with discounts
Insuring your fleet can be pricey, but you may qualify for discounts that can dramatically reduce your bill. Some trigger automatically at quote time, but some must be inquired about before you will receive the discount.
- Air Bag Discount – Factory options such as air bags and/or automatic seat belt systems can qualify for discounts up to 30%.
- Sign Online – A few larger online companies will give you a small discount for buying your policy on the internet.
- Multiple Policy Discount – When you combine your homeowners and auto insurance and place coverage with the same company you could get a discount of approximately 10% to 15%.
- Seat Belts Save more than Lives – Drivers who always wear seat belts and also require passengers to wear their seat belts could save 15% on medical payment and PIP coverage.
- Pay Now and Pay Less – If you pay your bill all at once instead of monthly or quarterly installments you may have a lower total premium amount.
- Responsible Driver Discount – Insureds who avoid accidents can save as much as half off their rates compared to rates paid by drivers with frequent claims.
- Military Discounts – Having an actively deployed family member could be rewarded with lower prices.
While discounts sound great, it’s important to understand that some of the credits will not apply to the entire cost. Most cut specific coverage prices like liability and collision coverage. So when the math indicates adding up those discounts means a free policy, companies don’t profit that way.
The diagram below illustrates the comparison of Ford Mustang insurance prices with and without discounts applied to the policy rates. Data assumes a male driver, no violations or accidents, Indiana state minimum liability limits, comp and collision included, and $500 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with multi-policy, multi-car, marriage, safe-driver, homeowner, and claim-free discounts applied.
A list of insurance companies and the discounts they provide are:
- Progressive policyholders can earn discounts including continuous coverage, multi-vehicle, online quote discount, multi-policy, homeowner, and good student.
- Farmers Insurance includes discounts for homeowner, electronic funds transfer, early shopping, multi-car, pay in full, and teen driver.
- Farm Bureau may have discounts that include multi-policy, safe driver, driver training, renewal discount, 55 and retired, multi-vehicle, and good student.
- State Farm may include discounts for Steer Clear safe driver discount, safe vehicle, multiple policy, multiple autos, and driver’s education.
- GEICO has savings for membership and employees, seat belt use, multi-policy, military active duty, daytime running lights, anti-lock brakes, and anti-theft.
- SAFECO offers discounts including anti-theft, bundle discounts, multi-car, homeowner, teen safety rewards, teen safe driver, and accident prevention training.
- Liberty Mutual offers discounts for teen driver discount, hybrid vehicle, new graduate, newly married, multi-car, and newly retired.
When getting a coverage quote, ask every insurance company which discounts they offer. Some discounts might not be offered on policies in every state. If you would like to choose from a list of providers that offer multiple discounts in Indiana, follow this link.
How to find a good Fort Wayne car insurance company
Selecting a highly-rated auto insurance provider is difficult considering how many companies sell coverage in Indiana. The company rank data shown below could help you analyze which providers to look at comparing rates from.
Top 10 Fort Wayne Car Insurance Companies by A.M. Best Rank
- USAA – A++
- GEICO – A++
- Travelers – A++
- State Farm – A++
- Allstate – A+
- Progressive – A+
- Erie Insurance – A+
- The Hartford – A+
- Nationwide – A+
- Esurance – A+
Top 10 Fort Wayne Car Insurance Companies Ranked by Customer Service
- State Farm
- Safeco Insurance
- American Family
- Titan Insurance
- Liberty Mutual
- Erie Insurance
Compare. Compare. Compare.
Throughout this article, we presented some good ideas how to find cheap Ford Mustang insurance in Fort Wayne. The most important thing to understand is the more providers you compare, the better chance you’ll have of finding the cheapest Ford Mustang rate quotes. You may even be surprised to find that the lowest priced auto insurance comes from a small mutual company. Some small companies often have lower car insurance rates on specific markets as compared to the big name companies such as State Farm, GEICO and Nationwide.
Cheaper Ford Mustang insurance in Fort Wayne can be bought from both online companies as well as from insurance agents, so you need to shop Fort Wayne car insurance with both in order to have the best price selection to choose from. There are still a few companies who may not have internet price quotes and most of the time these smaller providers provide coverage only through local independent agencies.
When buying insurance coverage, it’s not a good idea to buy lower coverage limits just to save a few bucks. There have been many situations where an accident victim reduced physical damage coverage only to regret at claim time that saving that couple of dollars actually costed them tens of thousands. The goal is to buy enough coverage at the lowest possible cost, not the least amount of coverage.
Steps to buying cheaper Ford Mustang insurance in Fort Wayne
If you want to find the absolute lowest rates, then the best way to find more affordable Ford Mustang insurance is to begin comparing prices regularly from providers that insure vehicles in Fort Wayne. Drivers can shop around by following these guidelines.
- Spend some time learning about policy coverages and the measures you can control to prevent expensive coverage. Many things that cause rate increases like traffic violations and a substandard credit score can be controlled by making lifestyle changes or driving safer.
- Compare rates from direct carriers, independent agents, and exclusive agents. Direct companies and exclusive agencies can only quote rates from one company like GEICO or Farmers Insurance, while independent agents can provide rate quotes from multiple insurance companies. Compare rates now
- Compare the new rates to your existing coverage to determine if switching companies saves money. If you find a lower rate quote, make sure coverage does not lapse between policies.
- Tell your current company to cancel your current auto insurance policy and submit the signed application along with the required initial payment to the new company. Make sure you store the certificate of insurance in a readily accessible location in your vehicle.
One key aspect of rate comparisons is that you’ll want to make sure you compare similar coverage information on every quote request and and to compare as many companies as possible. Doing this ensures the most accurate price comparison and a thorough price selection.
Additional learning opportunities
- Protect Yourself Against Auto Theft (Insurance Information Institute)
- How Much is Fort Wayne Car Insurance for a GMC Sierra? (FAQ)
- Who Has Cheap Auto Insurance for Veterans in Fort Wayne? (FAQ)
- Think You’re a Safe Driver? (State Farm)
- Event Data Recorders FAQ (iihs.org)
- What is Covered by an Auto Insurance Policy? (Insurance Information Institute)