Searching for lower-priced Ford Mustang insurance in Fort Collins? Being forced to pay for overpriced insurance premiums can dry up your budget and possibly require you to analyze your spending habits. Doing a rate analysis can be a smart way to tighten up your finances.
It's astonishing, but over 70% of Colorado drivers have bought insurance from the same company for well over three years, and nearly half have never compared quotes from other companies. U.S. drivers could cut their rates by roughly 47% a year by just comparing quotes, but they don't understand how simple it is to compare other rate quotes. Companies like State Farm, Progressive and GEICO persitently shower you with ads and it is difficult to ignore the flying pigs and cute green geckos and do the work needed to find the best deal.
Why Informed Consumers Pay Less for Ford Mustang Insurance
One of the most helpful ways to save on auto insurance is to to have a grasp of the factors that play a part in calculating your policy premiums. When you know what positively or negatively controls the rates you pay, this enables you to make decisions that may reward you with big savings.
- Reduce prices by driving safer cars - Vehicles with high crash test scores cost less to insure. Vehicles engineered for safety reduce the chance of injuries and lower injury rates means less claims paid and thus lower rates. If the Ford Mustang scored better than four stars on Safercar.gov or an "acceptable" rating on iihs.org it may cost less to insure.
- High performance equals high prices - The type of car, truck or SUV you are trying to find cheaper insurance for makes a substantial difference in your premium level. The most favorable rates will normally be found when insuring lower cost passenger cars, but that's not the only thing that factors into the final price. Since the Ford Mustang is considered a sports car, rates will be much more compared to average rates in Fort Collins.
- Insurance is expensive for youthful drivers - Beginning drivers in Colorado are statistically proven to be inattentive when at the wheel of a vehicle so they pay higher auto insurance rates. If you've ever had to add a beginning driver to your policy can really hurt. Older, more experienced drivers are more cautious drivers, cause fewer claims and accidents, and receive fewer citations.
- Liability protection limits on your policy - The liability section of your policy is the protection if ever you are determined to be liable for damages from an accident. It will provide for a legal defense which can cost a lot. This coverage is relatively inexpensive when compared with rates for comp and collision, so drivers should buy more than the minimum limits required by law.
- Never allow your coverage to lapse - Letting your insurance expire is a guaranteed way to trigger a rate increase. And not only will your rates increase, not being able to provide proof of insurance will get you a license revocation or jail time. You may need to file a SR-22 with the Colorado department of motor vehicles.
- Insurance losses for a Ford Mustang - Companies include the past claim trends for vehicles to calculate a price that offsets possible losses. Models that historically have higher losses will have higher premium rates. The table below outlines the collected loss data for Ford Mustang vehicles.
For each coverage category, the claim probability for all vehicles, without regard to make or model, is represented as 100. Values below 100 suggest a better than average loss history, while numbers shown that are more than 100 point to more losses or statistically larger losses.
Car Insurance Loss Data for Ford Mustang Models
Vehicle Make and 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
Data Source: iihs.org (Insurance Institute for Highway Safety) for 2013-2015 Model Years
The majority of larger companies give prices directly from their websites. The process doesn't take a lot of time as you simply type in your coverage preferences as requested by the quote form. When complete, their system sends out for credit information and your driving record and returns a price quote based on the data you entered. Being able to quote online for Ford Mustang insurance in Fort Collins makes it easy to compare insurance prices and it is important to perform this step in order to get lower-cost prices.
If you want to get comparison pricing now, check out the auto insurance providers below. If you currently have coverage, we recommend you duplicate the coverages as close as possible to your current policy. Doing this assures you will get a fair comparison using the same coverage and limits.
The following companies are ready to provide free rate quotes in Fort Collins, CO. If multiple companies are listed, we recommend you click on several of them in order to find the cheapest rates.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|Mustang 2-Dr Convertible||$310||$538||$460||$28||$138||$1,474||$123|
|Mustang 2-Dr Coupe||$260||$630||$462||$28||$138||$1,518||$127|
|Mustang GT 2-Dr Convertible||$146||$324||$330||$20||$98||$918||$77|
|Mustang GT 2-Dr Coupe||$298||$608||$448||$26||$134||$1,514||$126|
|Mustang Shelby GT500 2-Dr Convertible||$292||$776||$330||$20||$98||$1,516||$126|
|Mustang Shelby GT500 2-Dr Coupe||$182||$462||$422||$24||$126||$1,216||$101|
|Get Your Own Custom Quote Go|
Data based on married male driver age 50, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Colorado minimum liability limits. Discounts applied include multi-vehicle, claim-free, homeowner, safe-driver, and multi-policy. Table data does not factor in vehicle garaging location which can change insurance rates greatly.
Annual premiums for males compared to females
The illustration below shows the comparison of Ford Mustang annual premium costs for male and female drivers. The data assumes no claims or violations, full coverage, $1,000 deductibles, drivers are single, and no discounts are applied to the premium.
Why you might not save $465 a year
Consumers can't get away from ads that claim the cheapest car insurance rates by companies like GEICO, State Farm and Progressive. They all seem to advertise claims that people will save if you change your coverage to them.
That's great but how can every company make almost identical claims? It's all in how they say it.
All companies give the cheapest rates for the type of driver that makes them money. For example, a profitable insured could be over the age of 40, carries high limits, and drives less than 10,000 miles a year. Someone that fits those parameters gets the lowest premium rates and is almost guaranteed to pay quite a bit less when switching companies.
Drivers who don't meet these criteria will probably be forced to pay higher prices and ends up with the customer not purchasing. Company advertisements say "drivers that switch" not "everyone who quotes" save that much money. That's why insurance companies can make it sound like they have such great prices. Each company has different criteria, so you should compare rate quotes every year. You cannot predict the company that will have the lowest premium rates for your situation.
Why car insurance is not optional
Even though Fort Collins Mustang insurance rates can get expensive, paying for car insurance is not optional due to several reasons.
- Just about all states have mandatory insurance requirements which means you are required to carry a specific level of liability insurance in order to drive the car legally. In Colorado these limits are 25/50/15 which means you must have $25,000 of bodily injury coverage per person, $50,000 of bodily injury coverage per accident, and $15,000 of property damage coverage.
- If your Ford has a loan, more than likely the lender will stipulate that you have physical damage coverage to guarantee loan repayment. If you do not pay your insurance premiums, the bank will be required to insure your Ford at a much higher premium rate and force you to reimburse them much more than you were paying before.
- Insurance protects your Ford and your assets. It will also reimburse you for hospital and medical expenses for you, your passengers, and anyone else injured in an accident. One policy coverage, liability insurance, also covers legal expenses if anyone sues you for causing an accident. If your Ford gets damaged, comprehensive (other-than-collision) and collision coverage will pay to repair the damage minus the deductible amount.
The benefits of insuring your Mustang are definitely more than the cost, particularly when you have a large claim. An average driver in America is wasting up to $850 per year so you should quote rates at every renewal to help ensure money is not being wasted.
Get discounts on Fort Collins insurance
Companies offering auto insurance do not advertise all available discounts in an easy-to-find place, so we break down a few of the more common and also the more inconspicuous insurance savings. If you do not check that you are getting every discount available, you are throwing money away.
- One Accident Forgiven - Not a discount per se, but companies like State Farm and Allstate will let one accident slide before hitting you with a surcharge if you are claim-free before the accident.
- Early Renewal Discounts - A few insurance companies allow discounts for buying a new policy prior to your current Mustang insurance policy expiration. It can save you around 10%.
- Responsible Drivers - Drivers who avoid accidents can pay as much as 50% less compared to accident prone drivers.
- Homeowners Savings - Just owning your own home can earn you a little savings since home ownership is proof that your finances are in order.
- Life Insurance Discount - Select insurance carriers reward you with better prices if you take out life insurance from them.
- Use Seat Belts - Forcing all vehicle occupants to buckle up can save a little off the PIP or medical payment premium.
- Multi-policy Discount - If you can combine your auto and homeowners policy with one company you could save 10% to 20% off each policy.
It's important to note that most of the big mark downs will not be given to the overall cost of the policy. Some only reduce the price of certain insurance coverages like collision or personal injury protection. Despite the fact that it seems like you could get a free insurance policy, it doesn't quite work that way. But all discounts will bring down your policy premiums.
A few of the larger companies and some of the premium reductions they offer are outlined below.
- State Farm offers premium reductions for multiple autos, anti-theft, good driver, accident-free, driver's education, good student, and safe vehicle.
- American Family may include discounts for bundled insurance, good driver, good student, defensive driver, early bird, air bags, and mySafetyValet.
- GEICO discounts include military active duty, five-year accident-free, federal employee, seat belt use, good student, emergency military deployment, and membership and employees.
- 21st Century policyholders can earn discounts including theft prevention, defensive driver, driver training, teen driver, and early bird.
- Progressive has savings for multi-vehicle, continuous coverage, homeowner, online signing, and online quote discount.
Double check with every company which discounts you may be entitled to. Depending on the company, some discounts may not apply to policies in Fort Collins. To view insurers with the best Ford Mustang insurance discounts in Fort Collins, click here to view.
When should I get advice from an agent?
A small number of people still prefer to get advice from a local agent and that is OK! Insurance agents can help you choose the best coverages and give you someone to call. A nice benefit of comparing rate quotes online is that you can obtain the best rates but still work with a licensed agent.
Upon completion of this quick form, the quote information is immediately sent to local insurance agents who will give you bids to get your business. You won't even need to drive around because prices are sent to you directly. If for some reason you want to quote rates from a specific insurance company, you can always visit that company's website and give them your coverage information.
Choosing the best company shouldn't rely on just a cheap quote. Below are some questions you should ask.
- Do they get extra compensation for selling add-on coverages?
- Which companies can they place coverage with?
- Is the agent CPCU or CIC certified?
- Will they give you a referral list?
- Are they full-time agents?
When finding a local Fort Collins insurance agency, it can be helpful to understand the types of insurance agents that you can select. Agents can be categorized as either exclusive agents or independent agents. Either one can sell insurance policies, but it's a good idea to understand how they are different since it can impact the type of agent you choose.
Exclusive Insurance Agencies
Exclusive insurance agents generally can only insure with one company and examples are Farmers Insurance or State Farm. They generally cannot compare other company's rates so it's a take it or leave it situation. Exclusive agents are very knowledgeable on sales techniques and that allows them to sell at a higher price point.
Below are Fort Collins exclusive agents who can help you get price quotes.
Independent Insurance Agents
Independent agencies are not employed by one company and that allows them to write policies with any number of different companies and potentially find a lower price. If they find a cheaper price, they simply move your policy to a different company without you having to go to a different agency. If you need lower rates, it's a good idea to compare prices from a few independent agents in order to compare the most rates.
The following are Fort Collins independent agencies that are able to give rate quotes.
When quoting and comparing a policy for your vehicles, there is no one-size-fits-all type of policy. Coverage needs to be tailored to your specific needs.
For example, these questions can aid in determining if you may require specific advice.
- Is my teenager covered with friends in the car?
- What does medical payments cover?
- Does my policy pay for OEM or aftermarket parts?
- Who is covered when they drive my Ford Mustang?
- Should I rate my Ford Mustang as pleasure use or commute?
- Am I covered when delivering products for my home-based business?
- Is business property covered if stolen from my car?
- What is glass protection for?
- What is an adequate liability insurance limit?
If you're not sure about those questions, then you may want to think about talking to a licensed agent. To find an agent in your area, complete this form. It's fast, doesn't cost anything and can help protect your family.
Cheaper coverage is out there
The cheapest Ford Mustang insurance in Fort Collins can be found both online and from local agencies, and you should be comparing both to have the best chance of lowering rates. Some insurance companies may not offer the ability to get quotes online and many times these regional carriers prefer to sell through independent insurance agencies.
Drivers change insurance companies for a number of reasons such as policy cancellation, delays in paying claims, delays in responding to claim requests or even policy non-renewal. Regardless of your reason for switching companies, finding a new company can be less work than you think.
When getting Fort Collins car insurance quotes online, do not skimp on critical coverages to save a buck or two. In too many instances, someone sacrificed uninsured motorist or liability limits to discover at claim time that they should have had better coverage. Your objective should be to purchase a proper amount of coverage at the lowest possible cost and still be able to protect your assets.
Much more information about auto insurance in Colorado can be read below:
- Collision Coverage (Liberty Mutual)
- Who Has Affordable Colorado Car Insurance for a Hyundai Sonata? (FAQ)
- What is the Best Cheap Auto Insurance in Longmont, Colorado? (FAQ)
- Who Has Cheap Colorado Auto Insurance for Infrequent Drivers? (FAQ)
- Red Light Cameras (State Farm)
- Child Safety Seats (Insurance Information Institute)
- Insurance losses by make and model (Insurance Institute for Highway Safety)