Cheapest 2006 Ford Mustang Insurance Rates in 2023
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UPDATED: Aug 24, 2022
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Shoppers have many options when shopping for affordable Ford Mustang insurance. You can either spend your time contacting agents trying to get quotes or utilize the internet to find the lowest rates. There is a right way and a wrong way to buy auto insurance and we’ll show you the quickest way to compare rates for your Ford and obtain the lowest possible price.
You should make it a habit to price shop coverage yearly because insurance rates are usually higher with each renewal. If you had the lowest rates for Mustang insurance a year ago other companies may now be cheaper. So just ignore everything you know about auto insurance because you’re going to learn the tricks you need to know to properly buy coverages and cut your premium.
Don’t miss out on these money-saving discounts
Companies do not advertise all their discounts in an easy-to-find place, so here is a list some of the more common and the more hidden savings tricks you should be using. If they aren’t giving you every credit you qualify for, you are throwing money away.
- Early Signing – Some insurance companies reward drivers for switching policies before your current policy expires. This can save 10% or more.
- Distant Student – Youth drivers who live away from home and don’t have a car can be insured at a reduced rate.
- Federal Employees – Active or retired federal employment can save as much as 8% for Mustang insurance depending on your company.
- Low Mileage – Low mileage vehicles could qualify for discounted rates on garaged vehicles.
- Passive Restraints – Vehicles equipped with air bags can receive discounts of more than 20%.
- Anti-theft Discount – Vehicles equipped with anti-theft or alarm systems help deter theft and earn discounts up to 10%.
A little note about advertised discounts, most discount credits are not given to the entire cost. A few only apply to individual premiums such as collision or personal injury protection. Even though it may seem like it’s possible to get free car insurance, you’re out of luck.
Companies who might offer these benefits are:
Check with all companies you are considering which discounts they offer. Discounts may not apply in your state.
Do I need special coverages?
When choosing coverage for your vehicles, there is no single plan that fits everyone. Your needs are not the same as everyone else’s.
These are some specific questions can aid in determining if your insurance needs may require specific advice.
- What companies insure drivers after a DUI or DWI?
- Am I covered when driving someone else’s vehicle?
- Which is better, split liability limits or combined limits?
- Am I getting all the discounts available?
- Is my custom paint covered by insurance?
- I have good health insurance, so how much medical payments coverage do I need?
If you can’t answer these questions but you think they might apply to your situation then you might want to talk to an agent. If you want to speak to an agent in your area, fill out this quick form. It’s fast, free and you can get the answers you need.
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Car insurance coverage information
Knowing the specifics of your insurance policy can help you determine the right coverages and the correct deductibles and limits. The terms used in a policy can be difficult to understand and nobody wants to actually read their policy.
Auto collision coverage
This will pay to fix damage to your Mustang caused by collision with another vehicle or an object, but not an animal. You will need to pay your deductible and then insurance will cover the remainder.
Collision coverage protects against claims like backing into a parked car, sideswiping another vehicle, hitting a mailbox and rolling your car. Paying for collision coverage can be pricey, so analyze the benefit of dropping coverage from older vehicles. Drivers also have the option to bump up the deductible in order to get cheaper collision rates.
Uninsured and underinsured coverage
Uninsured or Underinsured Motorist coverage protects you and your vehicle when the “other guys” are uninsured or don’t have enough coverage. Covered claims include injuries to you and your family and damage to your Ford Mustang.
Since many drivers have only the minimum liability required by law, it doesn’t take a major accident to exceed their coverage limits. That’s why carrying high Uninsured/Underinsured Motorist coverage is important protection for you and your family.
Liability auto insurance
This coverage can cover damage or injury you incur to other people or property in an accident. It protects YOU against claims from other people. It does not cover your own vehicle damage or injuries.
It consists of three limits, bodily injury for each person injured, bodily injury for the entire accident and a property damage limit. You commonly see values of 50/100/50 that translate to $50,000 bodily injury coverage, a per accident bodily injury limit of $100,000, and $50,000 of coverage for damaged property.
Liability insurance covers claims like bail bonds, repair bills for other people’s vehicles, funeral expenses and court costs. How much liability coverage do you need? That is a personal decision, but consider buying as much as you can afford.
Comprehensive insurance coverage pays for damage OTHER than collision with another vehicle or object. You first must pay your deductible and the remainder of the damage will be paid by comprehensive coverage.
Comprehensive coverage pays for claims like vandalism, hitting a bird, hail damage and falling objects. The most your insurance company will pay is the ACV or actual cash value, so if the vehicle’s value is low it’s not worth carrying full coverage.
Coverage for medical payments
Coverage for medical payments and/or PIP provide coverage for expenses like pain medications, nursing services, funeral costs and prosthetic devices. They are often used in conjunction with a health insurance policy or if there is no health insurance coverage. They cover you and your occupants as well as getting struck while a pedestrian. PIP is not an option in every state and gives slightly broader coverage than med pay
Shop around and save
People switch companies for a number of reasons such as unfair underwriting practices, extreme rates for teen drivers, an unsatisfactory settlement offer or even policy cancellation. No matter why you want to switch, switching car insurance companies is pretty easy and you might even save some money in the process.
Cost effective 2006 Ford Mustang insurance is possible online as well as from independent agents, so compare prices from both to have the best chance of lowering rates. There are still a few companies who don’t offer online price quotes and these small, regional companies work with independent agents.
When trying to cut insurance costs, make sure you don’t skimp on coverage in order to save money. There have been many situations where consumers will sacrifice comprehensive coverage or liability limits only to regret at claim time that the few dollars in savings costed them thousands. Your goal should be to buy the best coverage you can find at the best price while still protecting your assets.
Much more information about car insurance is available at the links below
- Auto Insurance FAQ (Farmers Insurance)
- Side Impact Crash Tests (iihs.org)
- Can I Drive Legally without Insurance? (Insurance Information Insitute)
- How do I File a Claim? (Insurance Information Insitute)
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