Cheapest 2001 Mercury Cougar Insurance Rates in 2023
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UPDATED: May 12, 2022
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Expensive insurance can overdraw your checking account and put a big crunch on your finances. Doing a price comparison is a great way to make sure you’re not throwing money away. Lots of insurers contend to insure your vehicles, so it can be very hard to choose a insurance company and get the best coverage at the lowest rate
If you have a policy now or are just looking to switch companies, you can follow these tips to shop for the lowest rates and possibly find even better coverage. Finding the best rates is not that difficult. Drivers just need to know how to compare rates online.
The quickest way to compare policy rates is to know most of the bigger providers participate in a system to give you rate quotes. To start a quote, the only thing you need to do is give them rating details like whether or not you need a SR-22, if you went to college, if the vehicle is leased, and the year, make and model of vehicles. That rating data gets transmitted to multiple top-rated companies and they provide comparison quotes very quickly.
To compare rates now, click here and find out if you can get cheaper insurance.
Car insurance ads bend the truth
Consumers can’t get away from ads for the lowest price auto insurance by 21st Century, Allstate and State Farm. All the companies make an identical promise about savings if you switch to their company.
How does each company claim to save you money?
Different companies can use profiling for the right customer that is profitable for them. For example, a driver they prefer might be over the age of 40, has no tickets, and drives less than 7,500 miles a year. A customer who matches those parameters will get the preferred rates and most likely will save when they switch companies.
Consumers who are not a match for the “perfect” profile must pay a more expensive rate and ends up with the driver buying from a lower-cost company. Company advertisements say “customers that switch” not “people who quote” save that much money. That is how companies can make those claims. This illustrates why you should get as many quotes as possible. It is impossible to predict which car insurance company will give you the biggest savings on Mercury Cougar insurance.
Factors that can influence insurance rates for a Mercury Cougar
Smart consumers have a good feel for the different types of things that help determine the price you pay for auto insurance. Understanding what controls the rates you pay empowers consumers to make smart changes that could result in lower auto insurance prices.
- Being married is a good thing – Having a wife or husband helps lower the price on your auto insurance policy. Marriage means you’re more mature than a single person and it’s statistically proven that married drivers get in fewer accidents.
- High credit ratings translate to low rates – A driver’s credit score is a big factor in determining your rates. Therefore, if your credit history is lower than you’d like, you could save money insuring your 2001 Mercury Cougar by spending a little time repairing your credit. Drivers with good credit tend to file fewer claims and have better driving records as compared to drivers with poor credit.
- Older drivers pay less – Mature drivers are viewed as being more responsible, tend to cause fewer accidents and receive fewer citations. Teen drivers tend to be more careless in a vehicle therefore auto insurance rates are much higher.
- Do men or women drive better? – Statistics demonstrate women tend to be less risk to insure than men. However, this does not mean men are WORSE drivers than women. Men and women tend to get into accidents at a similar rate, but the male of the species have costlier accidents. Men also tend to have more aggressive citations such as DWI and reckless driving. Teenage male drivers are most likely to cause an accident and therefore are the most expensive to insure.
- Safer occupants lowers premiums – Cars with high safety ratings tend to have better insurance rates. Safer cars protect occupants better and fewer injuries means less money paid by your insurance company and more competitive rates for policyholders. If your Mercury Cougar is rated at least an “acceptable” rating on the Insurance Institute for Highway Safety website you are probably receiving a discount.
- Liability coverage is peace of mind – Your policy’s liability coverage will protect you in the event that you are found to be at fault for causing damage or personal injury in an accident. Liability provides for a legal defense which can be incredibly expensive. Liability is cheap as compared to coverage for physical damage, so do not cut corners here.
How to save on Mercury Cougar insurance
Companies that sell car insurance do not advertise all their discounts in a way that’s easy to find, so we researched both the well known and also the lesser-known auto insurance savings. If you aren’t receiving every discount you qualify for, you’re paying more than you need to.
- Good Student – Getting good grades can earn a discount of 20% or more. This discount can apply until age 25.
- Discount for New Cars – Adding a new car to your policy is cheaper because new vehicles have to meet stringent safety requirements.
- No Charge for an Accident – A few companies will allow you to have one accident before hitting you with a surcharge so long as you haven’t had any claims prior to the accident.
- Discount for Swiching Early – Select companies give a discount for switching policies prior to your current policy expiring. The savings is around 10%.
- More Vehicles More Savings – Insuring multiple cars or trucks on the same auto insurance policy qualifies for this discount.
- Military Discounts – Being deployed with a military unit can result in better rates.
A little note about advertised discounts, most discounts do not apply to the entire policy premium. Most only apply to the cost of specific coverages such as collision or personal injury protection. So when it seems like it’s possible to get free car insurance, it just doesn’t work that way.
For a list of insurance companies who offer auto insurance discounts, click here.
Tailor your coverage to you
When buying proper insurance coverage for your vehicles, there isn’t really a one size fits all plan. Coverage needs to be tailored to your specific needs and your policy should reflect that. These are some specific questions might help in determining whether your personal situation would benefit from professional advice.
- Is business equipment covered while in my vehicle?
- Exactly who is provided coverage by my policy?
- Do all my vehicles need collision coverage?
- If my 2001 Mercury Cougar is totaled, can I afford another vehicle?
- What vehicles should carry emergency assistance coverage?
- Do I need medical payments coverage since I have good health insurance?
If you’re not sure about those questions but you know they apply to you, then you may want to think about talking to a licensed agent. To find an agent in your area, simply complete this short form or you can also visit this page to select a carrier It’s fast, free and may give you better protection.
Detailed coverages of your insurance policy
Having a good grasp of a insurance policy can help you determine the best coverages and the correct deductibles and limits. Policy terminology can be confusing and even agents have difficulty translating policy wording. These are typical coverage types found on the average insurance policy.
Comprehensive or Other Than Collision
Comprehensive insurance coverage pays to fix your vehicle from damage caused by mother nature, theft, vandalism and other events. You first must pay your deductible and then insurance will cover the rest of the damage.
Comprehensive coverage pays for claims like rock chips in glass, damage from a tornado or hurricane, theft, fire damage and damage from getting keyed. The most you can receive from a comprehensive claim is the actual cash value, so if the vehicle’s value is low consider dropping full coverage.
Uninsured or Underinsured Motorist coverage protects you and your vehicle’s occupants when other motorists either have no liability insurance or not enough. It can pay for injuries sustained by your vehicle’s occupants and also any damage incurred to your Mercury Cougar.
Because many people only carry the minimum required liability limits, it doesn’t take a major accident to exceed their coverage limits. For this reason, having high UM/UIM coverages is a good idea.
This coverage will cover damage or injury you incur to other people or property by causing an accident. This insurance protects YOU against other people’s claims. It does not cover damage to your own property or vehicle.
Split limit liability has three limits of coverage: bodily injury per person, bodily injury per accident and property damage. You might see values of 100/300/100 that means you have $100,000 bodily injury coverage, a total of $300,000 of bodily injury coverage per accident, and $100,000 of coverage for damaged property.
Liability can pay for claims like repair bills for other people’s vehicles, loss of income, pain and suffering and funeral expenses. How much coverage you buy is a decision to put some thought into, but buy as much as you can afford.
Medical costs insurance
Medical payments and Personal Injury Protection insurance reimburse you for short-term medical expenses for things like pain medications, prosthetic devices and EMT expenses. They are often used in conjunction with a health insurance policy or if you lack health insurance entirely. Medical payments and PIP cover you and your occupants and also covers any family member struck as a pedestrian. Personal injury protection coverage is not available in all states and gives slightly broader coverage than med pay
Auto collision coverage
This coverage pays for damage to your Cougar resulting from colliding with another car or object. You will need to pay your deductible and the rest of the damage will be paid by collision coverage.
Collision coverage protects against claims such as driving through your garage door, crashing into a ditch and sideswiping another vehicle. Collision coverage makes up a good portion of your premium, so consider removing coverage from older vehicles. Drivers also have the option to bump up the deductible to save money on collision insurance.
Power to the consumer
When buying insurance coverage, don’t be tempted to skimp on coverage in order to save money. In too many instances, an insured dropped physical damage coverage and learned later that it was a big mistake. Your strategy should be to buy a smart amount of coverage for the lowest price while not skimping on critical coverages.
We covered a lot of tips how to reduce 2001 Mercury Cougar insurance prices online. It’s most important to understand that the more providers you compare, the more likely it is that you will get a better rate. Consumers may even find the lowest rates come from a small local company. They may only write in your state and offer lower rates as compared to the big name companies such as State Farm, GEICO and Nationwide.
Cost effective insurance can be purchased online as well as from independent agents, so you should compare both in order to have the best price selection to choose from. Some insurance companies don’t offer online price quotes and many times these small, regional companies only sell through independent insurance agents.
To learn more, link through to these articles:
- Crash Avoidance Technologies FAQ (iihs.org)
- Vehicle Size and Weight FAQ (iihs.org)
- Things to Know Before you Cancel Insurance (Allstate)
- Top Signs Your Brakes are Giving Out (State Farm)
- Bodily Injury Coverage (Liberty Mutual)
- Keeping Children Safe in Crashes Video (iihs.org)
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