Cheapest 2012 Ford Mustang Insurance Rates in 2023
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UPDATED: Jun 27, 2022
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Looking for the cheapest insurance coverage rates for your Ford Mustang? Sick and tired of robbing Peter to pay Paul to pay your car insurance bill each month? You are in the same boat as most other car owners. Big-name insurance companies like State Farm and GEICO all promote huge savings with TV and radio ads and it is difficult to see through the deception and do the work needed to find the best deal.
You need to do rate comparisons every six months because insurance rates are rarely the same from one policy term to another. Just because you found the best rates for Mustang insurance a few years ago does not mean a different company won’t have better rates today. Ignore everything you know about insurance coverage because we’re going to demonstrate the easiest way to find better coverage at a better price.
How to Buy Auto Insurance Online
Finding lower auto insurance rates is not a difficult process. Consumers just need to take time comparing rate quotes online with multiple companies. It is quite easy and can be accomplished in several different ways.
- One of the best ways to get quotes for comparison is a comparison rater form click to view the form in a new window. This method prevents you from having to do repetitive form submissions to each individual auto insurance company. One form submission gets rate comparisons from all major companies.
- A slightly less efficient method to obtain and compare quotes online requires a trip to each individual company’s website to complete a price quote. For example, we’ll pretend you want rates from Progressive, Esurance, and State Farm. To find out each rate you need to take the time to go to each site and enter your information, which is why the first method is quicker. For a list of links to insurance companies in your area, click here.
Which method you use is up to you, but double-check that you are using apples-to-apples quote information for every quote you compare. If you use different liability limits you can’t possibly determine the best price for your Ford Mustang.
Misconceptions in Car Insurance Advertisements
Consumers constantly see and hear ads for car insurance savings from the likes of Progressive, GEICO, Allstate, and State Farm. All the ads make the same claim about savings after switching your coverage to them.
How do they all make almost identical claims?
Different companies can use profiling for the right customer that makes them money. For example, a profitable customer might be profiled as between 30 and 50, has no driving citations, and has great credit. Any driver that hits that “sweet spot” is entitled to the best price and most likely will save when switching.
Potential customers who don’t measure up to the “perfect” profile will have to pay a higher premium which usually ends up with the driver buying from a lower-cost company. Company advertisements say “people who switch” but not “drivers who get quotes” save that much money. This is how companies can truthfully state their savings.
Because of the profiling, drivers should get a wide range of price quotes. Until you look around, you will never know which auto insurance provider will fit your personal profile best. Comparison shopping allows you the best chance to save on your 2012 Ford Mustang GT insurance costs.
How to Save on Ford Mustang Insurance
Insuring your fleet can be pricey, but companies offer discounts to help bring down the price. Certain discounts will be applied at the time you complete a quote, but less common discounts must be specially asked for before you will receive the discount. If you’re not getting every credit you deserve, you’re paying more than you need to.
- Safe Driver Discount – Drivers who avoid accidents can pay as much as 50% less for Mustang insurance than less cautious drivers.
- Air Bag Discount – Vehicles equipped with air bags and/or automatic seat belt systems can qualify for discounts up to 30%.
- Braking Control Discount – Anti-lock brake-equipped vehicles are safer to drive and earn discounts up to 10%.
- More Vehicles More Savings – Having multiple cars or trucks on one policy qualifies for this discount.
- College Student – Any of your kids living away from home attending college and who do not have access to a covered vehicle can be insured at a reduced rate.
- New Car Discount – Putting insurance coverage on a new car can cost up to 25% less since new cars are generally safer.
- Good Students Pay Less – Getting good grades can get you a discount of up to 25%. A good student discount can last up to age 25.
Keep in mind that most credits do not apply to the entire cost. A few only apply to the cost of specific coverages such as physical damage coverage or medical payments. So even though they make it sound like you could get a free auto insurance policy, you’re out of luck. Any qualifying discounts will reduce your premiums.
Companies that may have some of the above discounts may include but are not limited to:
- 21st Century
- State Farm
- The Hartford
It’s a good idea to ask each insurance company what discounts are available to you. Some discounts may not apply in every state.
Tailoring Your Coverage to You
When it comes to choosing coverage, there isn’t really a “perfect” insurance plan. Every insured’s situation is different and your policy should reflect that. Here are some questions about coverages that can help discover if you will benefit from professional help.
- Is my nanny covered when driving my vehicle?
- Can my teen driver be rated on a liability-only vehicle?
- Should I buy full coverage?
- Are all vehicle passengers covered by medical payments coverage?
- Do I need replacement cost coverage on my 2012 Ford Mustang?
- Can my teen drive my company car?
- Do I get a pro-rated refund if I cancel my policy early?
If you don’t know the answers to these questions but you know they apply to you, you might consider talking to a licensed insurance agent. If you don’t have a local agent, fill out this quick form or you can go here for a list of companies in your area. It’s fast, doesn’t cost anything, and can provide invaluable advice.
Coverages Available On Your Insurance Policy
Having a good grasp of an insurance policy aids in choosing appropriate coverage and the correct deductibles and limits. Policy terminology can be impossible to understand and reading a policy is terribly boring. Listed below are typical coverage types offered by insurance companies.
This protects you from damage or injury you incur to people or other property. Liability coverage has three limits: per person bodily injury, per accident bodily injury, and a property damage limit. Your policy might show liability limits of 25/50/25 that means you have a $25,000 limit per person for injuries, $50,000 for the entire accident, and a total limit of $25,000 for damage to vehicles and property. Alternatively, you may have one limit called combined single limit (CSL) that pays claims from the same limit without having the split limit caps.
Liability coverage protects against claims like repair bills for other people’s vehicles, attorney fees, emergency aid, court costs, and funeral expenses. The amount of liability coverage you purchase is up to you, but you should buy higher limits if possible.
Comprehensive auto coverage
Comprehensive insurance covers damage OTHER than collision with another vehicle or object. You first must pay your deductible then your comprehensive coverage will pay.
Comprehensive insurance covers claims such as hitting a bird, vandalism, and a tree branch falling on your vehicle. The highest amount you can receive from a comprehensive claim is the actual cash value, so if the vehicle is not worth much consider removing comprehensive coverage.
This will pay to fix damage to your Mustang from colliding with another vehicle or an object, but not an animal. You have to pay a deductible and the rest of the damage will be paid by collision coverage.
Collision insurance covers things like damaging your car on a curb, scraping a guard rail, colliding with a tree, and driving through your garage door. Collision is rather expensive coverage, so analyze the benefit of dropping coverage from vehicles that are 8 years or older. You can also raise the deductible in order to get cheaper collision rates.
Uninsured/Underinsured Motorist Coverage
Your UM/UIM coverage gives you protection from other drivers when they either have no liability insurance or not enough. This coverage pays for injuries to you and your family and also any damage incurred to your 2012 Ford Mustang.
Since many drivers only purchase the least amount of liability that is required, their liability coverage can quickly be exhausted. That’s why carrying high Uninsured/Underinsured Motorist coverage 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 pay for expenses for X-ray expenses, chiropractic care, hospital visits, and EMT expenses. They can be used in conjunction with a health insurance policy or if you do not have health coverage. Coverage applies to not only the driver but also the vehicle occupants and also covers being hit by a car walking across the street. Personal Injury Protection is not an option in every state and may carry a deductible
Smart Shoppers Get Results
Lower-priced 2012 Ford Mustang insurance is available on the web and with local insurance agents, and you need to comparison shop both to get a complete price analysis. Some insurance companies do not offer online quoting and most of the time these regional insurance providers sell through independent agents.
We’ve covered a lot of information on how to reduce insurance prices online. The key thing to remember is the more providers you compare, the better your comparison will be. You may be surprised to find that the best prices are with an unexpected company. These companies can often provide lower rates in certain areas as compared to the big-name companies such as Progressive or GEICO.
For more information, take a look at the articles below:
- Uninsured Motorists: Threats on the Road (Insurance Information Insitute)
- Preventing Carjacking and Theft (Insurance Information Insitute)
- Uninsured Motorist Statistics (Insurance Information Insitute)
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