Cheapest 2013 Ford Mustang Insurance Rates in 2023
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UPDATED: Feb 24, 2023
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Looking for lower insurance coverage rates for your Ford Mustang? Feel like you’re a prisoner to high-priced insurance coverage? Trust us, there are many consumers feeling the pinch from expensive insurance coverage. There are many insurance companies to choose from, and even though it’s nice to have a selection, so many choices can make it hard to get the best deal for your 2013 Ford Mustang auto coverage.
Choosing the best insurance company for you is quite easy. If you currently have car insurance, you will most likely be able to save some money using this information. Consumers only need to know the most efficient way to buy insurance over the internet.
Pieces of the Ford Mustang Insurance Rate Puzzle
It’s important that you understand the rating factors that help determine the rates you pay for auto insurance. When you know what positively or negatively determines base rates, you are empowered as a consumer to make smart changes that will entitle you to much lower annual insurance costs.
The following are some of the factors used by your company to calculate prices.
- Don’t sacrifice liability coverage – Liability coverage is the coverage that protects you if you are found to be at fault for damages from an accident. Liability insurance provides legal defense starting from day one. Carrying liability coverage is mandatory and cheap when compared with rates for comp and collision, so drivers should carry high limits.
- Keep rates low by being claim-free – Insurance companies award lower rates to policyholders who are claim-free. If you are a frequent claim filer, you can pretty much guarantee either policy cancellation or increased premiums. Your insurance policy is intended to be relied upon for large, substantial claims.
- Payless if you’re married – Having a spouse can get you a discount when buying auto insurance. Having a spouse usually means you are more mature and it’s proven that drivers who are married are more cautious.
- Lower rates come with age – Teenage drivers tend to be careless and easily distracted in a vehicle so auto insurance rates are higher. Mature drivers are more cautious drivers, statistically cause fewer accidents and get fewer tickets.
- Equipment add-ons that lower auto insurance rates – Purchasing a vehicle with an alarm system can save you a little every year. Theft prevention devices like tamper alarm systems, vehicle immobilizer technology, and General Motors OnStar all aid in stopping your vehicle from being stolen.
- Better credit means lower rates – A driver’s credit rating is a large factor in your rate calculation. Drivers who have excellent credit tend to be better drivers and file fewer claims than drivers with lower credit scores. So if your credit rating can use some improvement, you could save money insuring your 2013 Ford Mustang by spending a little time repairing your credit.
- Higher safety ratings mean cheaper insurance – Cars with high safety ratings can get you lower premiums. Safer cars have better occupant injury protection and fewer injuries translate into fewer and smaller insurance claims and lower rates for you. If your Ford Mustang earned at least four stars on Safercar.gov it is probably cheaper to insure.
- Poor driving leads to higher costs – Drivers who don’t get tickets receive lower rates than bad drivers. Even one moving violation can bump up the cost twenty percent or more. Drivers who get serious violations like DUI or reckless driving may be required to file an SR-22 with their state motor vehicle department in order to continue driving.
Are you getting all your discounts?
Companies that sell car insurance don’t always list every available discount very clearly, so the following is a list of both the well-known and also the lesser-known savings tricks you should be using. If you’re not getting every credit possible, you are paying more than you should be.
- Accident Waiver – A few companies will forgive one accident before hitting you with a surcharge as long as you don’t have any claims prior to the accident.
- Discount for Life Insurance – Larger companies have lower rates if you buy auto and life insurance together.
- College Student – Youth drivers who attend school more than 100 miles from home without a vehicle on campus may qualify for this discount.
- Federal Government Employee – Simply working for the federal government can earn a discount of up to 10% on Mustang insurance with select insurance companies.
- Low Mileage – Fewer annual miles on your Ford could qualify for discounted rates on garaged vehicles.
- Discount for New Cars – Putting insurance coverage on a new car can save up to 30% compared to insuring an older model.
It’s important to note that many deductions do not apply to all coverage premiums. Most cut individual premiums such as medical payments or collisions. Just because you may think you would end up receiving a 100% discount, it doesn’t quite work that way.
Companies who might offer these benefits include:
- Farmers Insurance
- State Farm
Check with each company what discounts are available to you. Some discounts might not apply in your state.
Misconceptions in Insurance Coverage Advertisements
Drivers constantly see and hear ads that promise big savings by Progressive, GEICO, Allstate, and State Farm. All the ads make the same claim that you can save if you move to their company.
How can each company say the same thing? This is how they do it.
Different companies have a certain “appetite” for the right customer they prefer to insure. An example of a driver they prefer might be profiled as between 25 and 40, has no driving citations, and drives less than 10,000 miles a year. A customer getting a price quote who meets those qualifications will qualify for the lowest rates and as a result, will probably cut their rates substantially.
Consumers who don’t meet this ideal profile will be quoted more money which leads to the customer not buying. Company advertisements say “customers who switch” not “everybody who quotes” save that much money. That is how insurance companies can confidently advertise the savings. This emphasizes why it is so important to get quotes from several different companies. It’s impossible to know which insurance coverage company will have the lowest Ford Mustang insurance rates.
When might I need an agent?
When it comes to buying the best auto insurance coverage, there isn’t really a cookie-cutter policy. Everyone’s situation is a little different so your insurance should reflect that Here are some questions about coverages that may help highlight whether or not you might need an agent’s assistance.
- Am I covered if I crash into my own garage door?
- Do I need replacement cost coverage?
- Can I afford low physical damage deductibles?
- When should I not file a claim?
- Do I really need UM/UIM coverage?
- Does my policy cover me when driving someone else’s vehicle?
If you can’t answer these questions, you may need to chat with a licensed insurance agent. If you don’t have a local agent, simply complete this short form or you can go here for a list of companies in your area. It only takes a few minutes to browse insurance for your 2013 Ford Mustang GT and help protect you and your family.
What auto insurance coverages do you need?
Learning about specific coverages of auto insurance helps when choosing which coverages you need and the proper limits and deductibles. Policy terminology can be ambiguous and even agents have difficulty translating policy wording. Shown next are the usual coverages offered by auto insurance companies.
Uninsured/Underinsured Motorist (UM/UIM) – Uninsured or Underinsured Motorist coverage gives you protection when other motorists either have no liability insurance or not enough. Covered losses include medical payments for you and your occupants and also any damage incurred to your Ford Mustang.
Since a lot of drivers only purchase the least amount of liability that is required, it doesn’t take a major accident to exceed their coverage limits. So UM/UIM coverage is very important.
Comprehensive – Comprehensive insurance pays for damage from a wide range of events other than a collision. You first must pay your deductible and the remainder of the damage will be paid by comprehensive coverage.
Comprehensive insurance covers claims such as a broken windshield, hail damage, and damage from flooding. The maximum amount your auto insurance company will pay is the actual cash value, so if the vehicle is not worth much it’s not worth carrying full coverage.
Collision – This coverage pays for damage to your insurance for your 2013 Ford Mustang GT from colliding with another car or object. A deductible applies then your collision coverage will kick in.
Collision coverage protects against claims such as driving through your garage door, crashing into a ditch, sideswiping another vehicle, and sustaining damage from a pothole. Collision coverage makes up a good portion of your premium, so analyze the benefit of dropping coverage from older vehicles. Drivers also have the option to increase the deductible in order to get cheaper collision rates.
Liability – This will cover damage that occurs to a person or their property that is your fault. This insurance protects you from legal claims by others. It does not cover your own vehicle damage or injuries.
Coverage consists of three different limits, bodily injury for each person injured, bodily injury for the entire accident, and a property damage limit. As an example, you may have liability limits of 100/300/100 which means you have $100,000 bodily injury coverage, a total of $300,000 of bodily injury coverage per accident, and a total limit of $100,000 for damage to vehicles and property.
Liability insurance covers things like repair bills for other people’s vehicles, bail bonds, pain and suffering, medical expenses, and medical services. How much coverage you buy is a personal decision, but it’s cheap coverage so purchase as much as you can afford.
Medical payment and personal injury protection (PIP) – Coverage for medical payments and/or PIP reimburse you for bills like nursing services, prosthetic devices, chiropractic care, surgery, and funeral costs. The coverages can be used to cover expenses not covered by your health insurance plan or if there is no health insurance coverage. They cover not only the driver but also the vehicle occupants and will also cover getting struck while a pedestrian. Personal injury protection coverage is only offered in select states but can be used in place of medical payments coverage
Save Your Cold Hard Cash
As you restructure your insurance plan, it’s a bad idea to skimp on coverage in order to save money. Too many times, someone will drop liability coverage limits only to discover at claim time that saving that couple of dollars actually cost them tens of thousands. Your strategy should be to find the BEST coverage at a price you can afford while still protecting your assets.
Throughout this article, we presented many tips on how you can compare 2013 Ford Mustang insurance prices online. The key thing to remember is the more rate comparisons you have, the more likely it is that you will get a better rate. You may even discover the best prices are with the least-expected company. Smaller companies often have lower prices in specific markets than their larger competitors like State Farm and Allstate.
Additional car insurance information can be read below:
- Preventing Carjacking and Theft (Insurance Information Insitute)
- Uninsured Motorist Statistics (Insurance Information Insitute)
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