2022 Ford Mustang Car Insurance Rates in 2024 – 10 Tips to Save

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Jeffrey Johnson

Insurance Lawyer

Jeffrey Johnson is a legal writer with a focus on personal injury. He has worked on personal injury and sovereign immunity litigation in addition to experience in family, estate, and criminal law. He earned a J.D. from the University of Baltimore and has worked in legal offices and non-profits in Maryland, Texas, and North Carolina. He has also earned an MFA in screenwriting from Chapman Univer...

Insurance Lawyer

UPDATED: May 10, 2024

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Trying to find the cheapest insurance rates for your Ford Mustang? Searching for the cheapest insurance for a new or used Ford Mustang could be a lot of work, but you can use these tips to make it easier.

There is a better way to buy insurance so we’re going to tell you the proper way to price shop coverage for a Ford and locate the cheapest rates from local insurance agents and online providers.

If you have a policy now or need a new policy, you can follow these tips to get lower rates and possibly find even better coverage. Shopping for affordable protection is easy if you know what you’re doing. Drivers only need to know how to find the lowest price on the web.

How to buy insurance coverage online

Finding a better price on insurance coverage can be relatively painless. All that’s required is to take a few minutes to compare rate quotes from different insurance companies. This can be accomplished by following the guidelines below.

  1. Without a doubt, the easiest way to get quotes is an all-inclusive rate comparison. This form keeps you from doing separate forms for each price estimate. Filling out one form gets rate comparisons from several companies. It’s definitely the quickest method.
  2. A different way to compare rate quotes consists of going to the website for every company you want to compare and fill out a new quote form. For examples sake, let’s assume you want to get rates from State Farm, 21st Century and Farmers. To get rate quotes you would need to spend time on each company’s site and repeatedly enter your information, which can get rather old.
  3. The hardest method to comparison shop is driving around to insurance agencies in your area. Comparing online rate quotes can eliminate the need for a local agent unless you have a need for the professional advice that only a licensed agent can provide. Although, it is possible get the lowest quotes online but have a local agent actually write the policy.

It’s your choice how you get your quotes, but compare exactly the same coverage limits for every quote you compare. If you compare differing limits it will be impossible to determine which company has the best rates.

You may qualify for discounts

Properly insuring your vehicles can get expensive, but you may qualify for discounts that could drop your premiums quite a bit. Certain reductions will be credited when you quote, but occasionally some discounts must be specifically requested prior to receiving the credit.

  • Accident Free – Good drivers with no accidents are rewarded with significantly better rates on insurance coverage quote when compared to accident-prone drivers.
  • Low Mileage Discounts – Keeping the miles down on your Ford could be rewarded with cheaper insurance rates.
  • Payment Method – If you pay your bill all at once rather than spreading payments over time you may have a lower total premium amount.
  • Driver Education Discount – Teen drivers should enroll in driver’s education in school.
  • Paperless Signup – Some companies provide a small discount for buying your policy on your computer.
  • Own a Home – Being a homeowner may earn you a small savings since owning and maintaining a home demonstrates responsibility.
  • Discounts for Multiple Vehicles – Having more than one vehicle on the same insurance policy can reduce rates for all insured vehicles.
  • Theft Deterrent Discount – Cars that have factory anti-theft systems are less likely to be stolen and that can save you a little bit as well.
  • Senior Citizen Rates – Drivers that qualify as senior citizens can possibly qualify for a small discount on rates on Mustang coverage.
  • Student Discounts – Being a good student may save as much as 25% on a insurance coverage quote. This discount can apply up to age 25.

Keep in mind that many deductions do not apply to the entire cost. The majority will only reduce the cost of specific coverages such as medical payments or collision. So even though you would think having all the discounts means you get insurance for free, insurance companies aren’t that generous. But any discount will positively reduce your policy premium.

A few popular companies and some of the discounts are outlined below.

  • Progressive may offer discounts for continuous coverage, good student, multi-policy, online signing, and multi-vehicle.
  • MetLife may include discounts for multi-policy, defensive driver, good driver, accident-free, good student, claim-free
  • Mercury Insurance discounts include low natural disaster claims, location of vehicle, professional/association, good student, anti-theft, ease of repair, and annual mileage.
  • Nationwide offers discounts for anti-theft, business or organization, family plan, accident-free, easy pay, and good student.
  • GEICO has discounts for anti-theft, air bags, emergency military deployment, anti-lock brakes, daytime running lights, seat belt use, and multi-policy.
  • AAA has savings for good driver, multi-car, AAA membership discount, pay-in-full, and good student.

Before purchasing a policy, check with every company which discounts you may be entitled to. Some of the earlier mentioned discounts might not be offered in your area.

There’s no such thing as the perfect insurance policy

When it comes to buying the right insurance coverage for your vehicles, there isn’t really a best way to insure your cars. Everyone’s needs are different.

These are some specific questions can help discover whether your personal situation may require specific advice.

  • Can I still get insurance after a DUI?
  • Am I getting all the discounts available?
  • Do I pay less for low miles?
  • Does my medical payments coverage pay my health insurance deductible?
  • Is a fancy paint job covered?
  • What if I don’t agree with a claim settlement offer?
  • Is my ex-spouse still covered by my policy?
  • What are the financial responsibility laws in my state?
  • Can I pay claims out-of-pocket if I buy high deductibles?
  • Can I get a multi-policy discount for packaging my home and auto coverage?

If you can’t answer these questions but a few of them apply, you may need to chat with a licensed insurance agent. If you don’t have a local agent, take a second and enter your zip code. It’s fast, free and may give you better protection.

Auto insurance myths debunked

Consumers can’t escape the ads that promise big savings from companies such as State Farm and Allstate. They all seem to have a common claim that people will save after switching your policy.

How does every auto insurance company give you a lower rate? This is how they do it.

Different companies offer their best rates for the right customer that will not have excessive claims. An example of this type of risk profile could possibly be over age 30, has no claims, and has excellent credit. Any driver that fits those parameters gets the lowest rates and therefore will save if they switch.

Potential insureds who are not a match for this ideal profile will have to pay a higher rate with the end result being the customer buying from someone else. The trick is to say “customers who switch” but not “all drivers who get quotes” save money. This is how companies can make those statements.

Different companies use different criteria so you should quote coverage with many companies. It is just not possible to predict which company will have the lowest prices for your situation.

Insurance coverage breakdown

Having a good grasp of a insurance policy can be of help when determining the best coverages and the correct deductibles and limits. The coverage terms in a policy can be ambiguous and nobody wants to actually read their policy.

Coverage for collisions

This coverage covers damage to your Mustang caused by collision with a stationary object or other vehicle. You will need to pay your deductible then the remaining damage will be paid by your insurance company.

Collision can pay for claims such as crashing into a ditch, sustaining damage from a pot hole and hitting a parking meter. Paying for collision coverage can be pricey, so consider removing coverage from lower value vehicles. Drivers also have the option to raise the deductible to get cheaper collision coverage.

UM/UIM Coverage

This gives you protection from other drivers when they either have no liability insurance or not enough. This coverage pays for medical payments for you and your occupants and also any damage incurred to your Ford Mustang.

Because many people carry very low liability coverage limits, it doesn’t take a major accident to exceed their coverage limits. This is the reason having UM/UIM coverage is important protection for you and your family. Usually these limits are similar to your liability insurance amounts.

Medical costs insurance

Med pay and PIP coverage reimburse you for bills for things like chiropractic care, X-ray expenses, EMT expenses, dental work and nursing services. They are often utilized in addition to your health insurance policy or if there is no health insurance coverage. Coverage applies to all vehicle occupants and also covers getting struck while a pedestrian. Personal Injury Protection is only offered in select states and gives slightly broader coverage than med pay

Comprehensive or Other Than Collision

This coverage pays to fix your vehicle from damage caused by mother nature, theft, vandalism and other events. You first have to pay a deductible and then insurance will cover the rest of the damage.

Comprehensive can pay for things like a tree branch falling on your vehicle, hail damage, theft, vandalism and falling objects. The maximum amount you’ll receive from a claim is the actual cash value, so if the vehicle’s value is low it’s probably time to drop comprehensive insurance.

Liability

Liability coverage provides protection from damage that occurs to other’s property or people. Split limit liability has three limits of coverage: bodily injury for each person, bodily injury for the entire accident, and a limit for property damage. You might see values of 25/50/25 which stand for $25,000 in coverage for each person’s injuries, a per accident bodily injury limit of $50,000, and a limit of $25,000 paid for damaged property. Occasionally you may see a combined single limit or CSL which provides one coverage limit without having the split limit caps.

Liability can pay for claims like pain and suffering, court costs, medical expenses and medical services. The amount of liability coverage you purchase is your choice, but you should buy higher limits if possible.

A tidy conclusion

As you shop your coverage around, it’s a bad idea to skimp on coverage in order to save money. There are many occasions where an insured dropped full coverage and found out when filing a claim they didn’t purchase enough coverage. Your goal should be to buy enough coverage for the lowest cost while still protecting your assets.

Drivers change insurance companies for many reasons like high rates after DUI convictions, denial of a claim, extreme rates for teen drivers and delays in paying claims. Regardless of your reason for switching companies, choosing a new company is not as difficult as it may seem.

Some insurance coverage companies don’t offer price quotes online regional carriers only sell coverage through local independent agencies. Lower-priced 2022 Ford Mustang insurance is possible online and from local agencies, and you should compare rates from both to have the best rate selection.

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