Ford Mustang insurance image courtesy of QuoteInspector.com
It takes a few minutes, but the best way to get budget Ford Mustang insurance in Lubbock is to annually compare prices from companies who provide auto insurance in Texas.
Step 1: Read and learn about coverages and the steps you can take to keep rates down. Many rating criteria that cause high rates such as traffic citations, accidents, and your credit history can be eliminated by making minor driving habit or lifestyle changes.
Step 2: Compare price quotes from direct, independent, and exclusive agents. Exclusive agents and direct companies can only quote rates from one company like Progressive or Allstate, while agents who are independent can provide rate quotes from multiple insurance companies. Click to view companies
Step 3: Compare the quotes to your current policy premium to see if you can save by switching companies. If you can save money and switch companies, make sure coverage is continuous and does not lapse.
Step 4: Provide adequate notice to your current company of your intent to cancel the current policy and submit a down payment and signed policy application to the new company. When you receive it, place your new certificate verifying proof of insurance in your vehicle's glove compartment or console.
One thing to remember is to make sure you're comparing the same amount of coverage on every quote request and and to get price estimates from every insurance company. Doing this ensures an accurate price comparison and the most accurate and complete price analysis.
It's well known that car insurance companies don't want you to compare rates. Drivers who shop around for the cheapest rate will, in all likelihood, switch auto insurance companies because there is a great chance of finding a more affordable policy premium. A study showed that consumers who made a habit of comparing rate quotes saved approximately $3,400 over four years as compared to drivers who never compared prices.
If finding the lowest rates on auto insurance in Lubbock is why you're reading this, then learning about how to shop for auto insurance can save money and time.
Companies offering affordable Ford Mustang price quotes in Lubbock, TX
The providers in the list below provide free quotes in Lubbock, TX. If you wish to find cheap auto insurance in Texas, we recommend you visit several of them to get the best price comparison.
Auto insurance statistics and figures
The premium table shown next showcases estimates of prices for Ford Mustang models. Having a good understanding how insurance premiums are established is important for drivers to make smart choices when selecting a policy.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|Mustang 2-Dr Convertible||$326||$720||$514||$30||$154||$1,744||$145|
|Mustang 2-Dr Coupe||$326||$720||$642||$38||$192||$1,918||$160|
|Mustang GT 2-Dr Convertible||$368||$828||$514||$30||$154||$1,894||$158|
|Mustang GT 2-Dr Coupe||$368||$828||$642||$38||$192||$2,068||$172|
|Mustang Shelby GT500 2-Dr Convertible||$410||$1046||$514||$30||$154||$2,154||$180|
|Mustang Shelby GT500 2-Dr Coupe||$452||$1154||$642||$38||$192||$2,478||$207|
|Get Your Own Custom Quote Go|
Data based on single female driver age 30, no speeding tickets, no at-fault accidents, $250 deductibles, and Texas minimum liability limits. Discounts applied include multi-vehicle, claim-free, homeowner, safe-driver, and multi-policy. Table data does not factor in Lubbock location which can increase or decrease rates noticeably.
Ford Mustang full coverage rates compared to liability only
The information below compares Ford Mustang annual premium costs with full coverage and liability only. The data is based on no tickets, no at-fault accidents, $1,000 deductibles, marital status is single, and no discounts are factored in.
Guidelines for dropping full coverage
There is no specific rule for eliminating comp and collision coverage, but there is a general convention. If the yearly cost of full coverage is about 10% or more of the vehicle's replacement cost less your deductible, then it might be time to buy liability only.
For example, let's say your Ford Mustang replacement value is $3,000 and you have $1,000 deductibles. If your vehicle is destroyed, the most your company would pay you is $2,000 after you pay the deductible. If you are paying over $200 annually for full coverage, then you may want to consider only buying liability coverage.
There are some scenarios where buying only liability insurance is not a good idea. If you still have a lienholder on your title, you must maintain physical damage coverage as part of the loan conditions. Also, if you can't afford to buy a different vehicle if your current one is totaled, you should not eliminate full coverage.
Lubbock Insurance Premiums are Influenced by These Factors
An important part of buying insurance is that you know some of the factors that aid in calculating the price you pay for car insurance. If you have a feel for what impacts premium levels, this allows you to make educated decisions that can earn you better car insurance rates. Lots of factors are taken into consideration when premium rates are determined. A few of the factors are predictable like a motor vehicle report, but other factors are not quite as obvious like your continuous coverage or how safe your car is.
Gender is a factor - Over time, data shows that females tend to be a little less risky than males. The data does not necessarily mean that females are better drivers. Both sexes are responsible for at-fault accidents at a similar rate, but men have costlier accidents. Not only that, but men also get cited for more serious violations like DWI (DUI) or reckless driving.
The example below shows the comparison of Ford Mustang yearly insurance costs for male and female drivers. Data assumes no violations or claims, full coverage, $500 deductibles, marital status is single, and no other discounts are factored in.
Alarms and GPS tracking lower car insurance rates - Selecting a car model that has an advanced theft prevention system can earn a premium discount. Anti-theft devices such as vehicle immobilizer systems, OnStar, and tracking devices like LoJack all aid in stopping vehicle theft.
Bad drivers pay high costs - Attentive drivers receive lower rates than people who have multiple driving citations. Even a single ticket can boost insurance rates by twenty percent. People who have serious citations such as DUI or reckless driving may find that they have to to prove financial responsibility with their state's department of motor vehicles in order to keep their license.
The information below demonstrates how traffic citations and at-fault fender-benders impact Ford Mustang auto insurance costs for each age group. The data is based on a married female driver, full coverage, $100 deductibles, and no additional discounts are factored in.
Physical damage deductibles - Coverage for physical damage, otherwise known as comp (or other than collision) and collision, covers your vehicle from damage. Examples of some claims that would be covered would be colliding with a building, collision with an animal, or theft. Deductibles for physical damage tell how much you are required to pay in the event of a claim. The more money you choose to pay out-of-pocket, the less money you will pay for car insurance.
Less chance of injury means lower car insurance rates - Cars with high safety ratings tend to have lower insurance rates. These vehicles result in less severe injuries and lower rates of occupant injuries means less claims paid and more competitive rates for policyholders. If your Ford Mustang scored better than four stars on Safercar.gov you may be receiving a better rate.
Ford Mustang insurance loss probability - Companies analyze claim trends for every vehicle to help calculate premium rates. Models that historically have increased losses will cost more to insure. The table below illustrates the compiled insurance loss statistics for Ford Mustang vehicles.
For each policy coverage, the loss probability for all vehicles, regardless of make or model, is represented as 100. Percentage values below 100 suggest a positive loss record, while values that are 100 or greater point to more frequent losses or an increased likelihood of larger losses.
|Make and Model||Collision||Property Damage||Comp||Personal Injury||Medical Payment||Bodily Injury|
|Ford Mustang 2dr||175||80||131||109||136||117|
|Ford Mustang GT 2dr||171||61||143||82|
Empty fields indicate not enough data collected
Data Source: Insurance Institute for Highway Safety for 2013-2015 Model Years
Discount Lubbock car insurance rates
Car insurance can cost a lot, but discounts can save money and there are some available that many people don't even know exist. Some trigger automatically at the time of purchase, but some must be specifically requested before being credited.
- Drivers Education - Teen drivers should participate in a local driver's education class in school.
- Driver Training Discounts - Taking a course in defensive driver is a good idea and can lower rates and easily pay for the cost of the class.
- Theft Deterrent - Cars, trucks, and SUVs equipped with tracking devices and advanced anti-theft systems help deter theft and qualify for as much as a 10% discount.
- One Accident Forgiven - Not really a discount, but a handful of insurance companies will turn a blind eye to one accident before raising your premiums as long as you don't have any claims for a set time period.
- Seat Belts Save more than Lives - Requiring all passengers to buckle up before driving can save a little on medical payment and PIP coverage.
- Savings for New Vehicles - Buying coverage on a new vehicle can get you a discount due to better safety requirements for newer vehicles.
- Student Discounts - Being a good student can save 20 to 25%. The discount lasts up until you turn 25.
Remember that some of the credits will not apply to all coverage premiums. The majority will only reduce individual premiums such as comp or med pay. Even though the math looks like all the discounts add up to a free policy, it doesn't quite work that way.
The illustration below visualizes the comparison of Ford Mustang auto insurance costs with and without discounts. The price estimates are based on a male driver, no accidents, no driving violations, Texas state minimum liability limits, full coverage, and $100 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with multi-policy, marriage, claim-free, safe-driver, multi-car, and homeowner discounts applied.
If you would like to see a list of car insurance companies that offer multiple discounts in Texas, click here to view.
When should I have guidance from a local insurance agent?
A small number of people just prefer to get professional advice from a licensed agent and that can be a smart move Experienced insurance agents can make sure you are properly covered and help submit paperwork. The best thing about getting free rate quotes online is you may find cheap auto insurance quotes and still have an agent to talk to. And supporting local insurance agencies is especially important in Lubbock.
By using this short form, your insurance data is submitted to agents in your area who will give you quotes for your business. It makes it easy because there is no need to leave your house due to the fact that quote results will go to the email address you provide. If you wish to compare prices for a specific company, don't hesitate to jump over to their website to submit a rate quote request.
Below is a short list of auto insurance companies in Lubbock that may be willing to give price quote information for Ford Mustang insurance in Lubbock.
Allstate Insurance Agent: Bill Eggar
10101 Quaker Ave - Lubbock, TX 79424 - (806) 792-5200 - View Map
David Tate Insurance Agency LLP
5233 79th St - Lubbock, TX 79424 - (806) 794-1177 - View Map
Choosing the best provider requires more thought than just the price. The following questions are important to ask.
- Which companies can they place coverage with?
- How is replacement cost determined on your vehicle?
- Are glass claims handled on-site or do you have to take your vehicle to a repair shop?
- Do they have any clout with companies to ensure a fair claim settlement?
- Are they full-time agents?
- When do they do a full risk review?
- How long have they worked with personal auto insurance coverage?
- How long has the business existed?
Don't give up on cheap rates
In this article, we presented quite a bit of information on how to lower your Ford Mustang insurance auto insurance rates in Lubbock. The key thing to remember is the more price quotes you have, the better your comparison will be. You may even find the lowest auto insurance rates are with some of the lesser-known companies. They may often insure only within specific states and give better rates as compared to the big name companies such as Progressive and GEICO.
When shopping online for car insurance, don't be tempted to skimp on critical coverages to save a buck or two. In too many instances, an accident victim reduced liability limits or collision coverage only to regret that the small savings ended up costing them much more. Your goal is to buy a smart amount of coverage at an affordable rate, not the least amount of coverage.
For more information, take a look at the following helpful articles:
- Vehicle Insurance (Wikipedia)
- Who Has Affordable Lubbock Car Insurance for a Toyota Tundra? (FAQ)
- How Much is Lubbock Car Insurance for Uber Drivers? (FAQ)
- What Insurance is Cheapest for a Honda CR-V in Lubbock? (FAQ)
- What Auto Insurance is Cheapest for a Ford Escape in Lubbock? (FAQ)
- Who Has Affordable Lubbock Car Insurance Rates for Good Drivers? (FAQ)
- What Auto Insurance is Cheapest for Low Mileage Drivers in Lubbock? (FAQ)
- Who Has Cheap Lubbock Auto Insurance Quotes for Handicapped Drivers? (FAQ)
- Auto Insurance FAQ (Farmers Insurance)
- Anti-Lock Brake FAQ (iihs.org)
- Uninsured Motorist Statistics (Insurance Information Institute)