2021 Ford Mustang Car Insurance Cost in 2024 – 6 Savings Tips

Do you get exhausted from scraping nickels together to pay auto insurance each month? You are in the same boat as the majority of other people. There are many insurance companies to buy insurance from, and even though it’s nice to have a selection, more choices can make it harder to locate the cheapest rates.

It’s a good idea to do rate comparisons yearly because prices change regularly. Even if you think you had the best quotes on Mustang insurance six months ago the chances are good that you can find a lower rate today. Forget all the misinformation about auto insurance because you’re about to find out the easiest way to buy cheaper auto insurance.

This information will let you in on the best way to quote coverages and some tips to save money. If you are paying for car insurance now, you will be able to reduce your rates substantially using these methods. Vehicle owners only need to know the best way to buy car insurance online.

Save with with these six discounts

Companies offering auto insurance do not advertise all discounts very clearly, so the list below details both the well known and the harder-to-find credits that you can use to lower your rates.

• Pay Upfront and Save – If paying your policy premium upfront instead of paying each month you could save 5% or more.
• Save with a New Car – Insuring a new car is cheaper since newer models have better safety ratings.
• Mature Driver Discount – Mature drivers can get a discount up to 10% on Mustang insurance.
• Defensive Driving Course – Passing a defensive driving course can save you 5% or more and easily pay for the cost of the class.
• Telematics Discount – Insureds that choose to allow driving data collection to study driving manner through the use of a telematics system such as Drivewise from Allstate or Snapshot from Progressive may see discounts if they show good driving skills.
• Seat Belts Save – Drivers who always wear seat belts and also require passengers to buckle up before driving can save a little off PIP or medical payments premium.

It’s important to note that most credits do not apply to the whole policy. Most only apply to the cost of specific coverages such as liability and collision coverage. Despite the appearance that adding up those discounts means a free policy, that’s just not realistic.

A few of the larger companies and a partial list of their discounts are detailed below.

• State Farm may have discounts that include safe vehicle, multiple autos, multiple policy, passive restraint, good student, student away at school, and defensive driving training.
• Farmers Insurance policyholders can earn discounts including homeowner, bundle discounts, alternative fuel, business and professional, teen driver, and early shopping.
• Progressive discounts include online quote discount, multi-vehicle, multi-policy, good student, online signing, and homeowner.
• GEICO may include discounts for anti-lock brakes, seat belt use, air bags, multi-vehicle, and anti-theft.
• Auto-Owners Insurance offers discounts including good student, group or association, anti-lock brakes, paid in full, student away at school, and multiple vehicles.
• The Hartford has savings for vehicle fuel type, bundle, defensive driver, air bag, and good student.
• Farm Bureau may offer discounts for youthful driver, 55 and retired, renewal discount, multi-policy, and driver training.
• USAA offers discounts for annual mileage, defensive driver, family discount, military installation, and driver training.

It’s a good idea to ask all the companies to apply every possible discount. All car insurance discounts might not be offered in every state. If you would like to see a list of insurers that offer discounts, enter your zip code here.

Your situation helps dictate your coverage

When choosing coverage for your vehicles, there is no perfect coverage plan. Your needs are not the same as everyone else’s and a cookie cutter policy won’t apply. These are some specific questions can aid in determining if your insurance needs might need an agent’s assistance.

• Is other people’s property covered if stolen from my vehicle?
• I have a DUI can I still get coverage?
• Do I get a pro-rated refund if I cancel my policy early?
• Why do I only qualify for high-risk insurance?
• How can I force my company to pay a claim?
• Should I have a commercial auto policy?
• When should I drop full coverage on my 2021 Ford Mustang?

If it’s difficult to answer those questions, you might consider talking to a licensed insurance agent. To find an agent in your area, complete your zip code. It’s fast, doesn’t cost anything and may give you better protection.

Coverages available on your insurance policy

Knowing the specifics of a insurance policy can help you determine which coverages you need and the correct deductibles and limits. The coverage terms in a policy can be ambiguous and even agents have difficulty translating policy wording. Below you’ll find typical coverage types available from insurance companies.

Comprehensive protection

This coverage covers damage that is not covered by collision coverage. You first have to pay a deductible then your comprehensive coverage will pay.

Comprehensive coverage pays for claims like rock chips in glass, hail damage, falling objects, hitting a deer and hitting a bird. The most your insurance company will pay is the ACV or actual cash value, so if your deductible is as high as the vehicle’s value it’s probably time to drop comprehensive insurance.

Medical expense coverage

Medical payments and Personal Injury Protection insurance reimburse you for bills for ambulance fees, doctor visits, prosthetic devices and hospital visits. The coverages can be utilized in addition to your health insurance policy or if you do not have health coverage. Medical payments and PIP cover you and your occupants and also covers getting struck while a pedestrian. PIP is not universally available and may carry a deductible

Liability

This will cover damages or injuries you inflict on other’s property or people in an accident. It protects you against other people’s claims. It does not cover damage to your own property or vehicle.

Coverage consists of three different limits, bodily injury for each person injured, bodily injury for the entire accident and a property damage limit. Your policy might show limits of 50/100/50 which stand for $50,000 bodily injury coverage, a total of $100,000 of bodily injury coverage per accident, and property damage coverage for $50,000. Alternatively, you may have one limit called combined single limit (CSL) which provides one coverage limit and claims can be made without the split limit restrictions.

Liability coverage pays for claims such as repair costs for stationary objects, attorney fees, medical services, structural damage and loss of income. How much liability should you purchase? That is up to you, but you should buy as high a limit as you can afford.

Collision protection

This pays for damage to your Mustang resulting from colliding with another vehicle or an object, but not an animal. You will need to pay your deductible then your collision coverage will kick in.

Collision coverage pays for claims like backing into a parked car, scraping a guard rail, sideswiping another vehicle, rolling your car and damaging your car on a curb. Collision coverage makes up a good portion of your premium, so you might think about dropping it from vehicles that are 8 years or older. Drivers also have the option to bump up the deductible in order to get cheaper collision rates.

Uninsured or underinsured coverage

Uninsured or Underinsured Motorist coverage provides protection when the “other guys” either are underinsured or have no liability coverage at all. It can pay for 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. This is the reason having UM/UIM coverage is very important. Normally your uninsured/underinsured motorist coverages do not exceed the liability coverage limits.

Smart consumers save more

Low-cost 2021 Ford Mustang insurance can be purchased both online and from local agencies, and you should compare rates from both in order to have the best chance of saving money. A few companies do not provide price quotes online and most of the time these smaller companies work with independent agents.

When buying insurance coverage, never sacrifice coverage to reduce premiums. Too many times, consumers will sacrifice liability limits or collision coverage and found out when filing a claim they didn’t have enough coverage. The proper strategy is to find the BEST coverage for the lowest cost while not skimping on critical coverages.