How to Save on Ford Mustang Insurance in Indianapolis

Have you had enough of being strong-armed to insure your Ford every month? You’re in the same situation as most other vehicle owners in Indiana.

It’s an obvious conclusion that car insurance companies don’t want you to look at other companies. Insureds who get comparison quotes once a year will presumably switch insurance companies because of the good chance of getting low-cost coverage. A recent survey revealed that people who shopped around saved $3,450 over four years compared to policyholders who never shopped around for cheaper prices.

If finding the most affordable car insurance in Indianapolis is your objective, then learning about the best ways to find and compare car insurance can make shopping around easier.

Steps to finding the cheapest rates for Ford Mustang insurance in Indianapolis

If you want to save the most money, the best way to get discount Ford Mustang insurance is to regularly compare quotes from insurance carriers in Indianapolis. This can be done by following these guidelines.

• Step 1: Try to comprehend what coverages are included in your policy and the modifications you can make to prevent expensive coverage. Many risk factors that increase rates such as accidents, careless driving, and a negative credit history can be remedied by making lifestyle changes or driving safer.
• Step 2: Compare price quotes from exclusive agents, independent agents, and direct providers. Direct companies and exclusive agencies can give quotes from a single company like Progressive or Farmers Insurance, while agents who are independent can quote rates for many different companies.
• Step 3: Compare the new rate quotes to your existing coverage and determine if cheaper Mustang coverage is available. If you can save money and switch companies, make sure there is no lapse in coverage.
• Step 4: Give proper notification to your current agent or company of your decision to cancel your current car insurance policy and submit a completed policy application and payment for the new policy. Don’t forget to place the new certificate verifying coverage somewhere easily accessible.

An important note is to try to compare the same physical damage deductibles and liability limits on each quote and and to get quotes from as many companies as possible. Doing this guarantees a fair rate comparison and a complete price analysis.

With so many choices of insurance companies that have cheap insurance for a Ford Mustang in Indianapolis, it is hard for the average consumer to choose the most affordable insurance company.

It is always a good idea to get comparison quotes before your policy renews because prices fluctuate regularly. Even if you think you had the best rate on Ford Mustang insurance in Indianapolis at your last renewal you can probably find a better premium rate now. There is too much inaccurate information about Mustang insurance on the web, but we’re going to give you some tested techniques to put money back in your pocket.

Low Cost companies for Ford Mustang insurance in Indiana

The companies in the list below offer quotes in Indiana. If the list has multiple companies, we recommend you get price quotes from several of them to get the most competitive price.

Rate information and statistics

The premium table displayed below covers different coverage costs for Ford Mustang models. Having insight into how auto insurance policy rates are established can help drivers make informed decisions when comparing rate quotes.

Data variables include single female driver age 30, no speeding tickets, no at-fault accidents, $100 deductibles, and Indiana minimum liability limits. Discounts applied include multi-policy, multi-vehicle, claim-free, homeowner, and safe-driver. Rate quotes do not factor in Indianapolis location which can affect price quotes noticeably.

Raise deductibles and save

One of the more difficult decisions when buying auto insurance is where should you set your physical damage deductibles. The rates below may help to conceptualize the rate fluctuation when you choose different physical damage deductibles. The first set of prices uses a $100 comprehensive and collision deductible and the second rate table uses a $1,000 deductible.

Cost estimates assume married male driver age 30, no speeding tickets, no at-fault accidents, and Indiana minimum liability limits. Discounts applied include claim-free, homeowner, multi-vehicle, safe-driver, and multi-policy. Table data does not factor in specific location information which can influence auto insurance rates significantly.

Using the premium rates above, we can conclude that using a $100 deductible costs approximately $38 more each month or $456 a year averaged for all Mustang models than requesting the higher $1,000 deductible. Since the policyholder would be required to pay $900 more out-of-pocket with a $1,000 deductible as compared to a $100 deductible, if you tend to have more than 24 months between claims, you would come out ahead if you choose a higher deductible.

Ford Mustang full coverage rates compared to liability only

The illustration below illustrates the comparison of Ford Mustang premium costs with liability coverage only compared to full coverage. The premium estimates are based on no tickets, no at-fault accidents, $250 deductibles, single status, and no additional discounts are factored in.

Are you wasting money paying for full coverage?

There is no exact rule for eliminating full coverage, but there is a general guideline. If the annual cost of coverage is 10% or more of the replacement cost minus the deductible, the it may be a good time to stop paying for full coverage.

For example, let’s pretend your Ford Mustang claim settlement value is $3,000 and you have $1,000 full coverage deductibles. If your vehicle is severely damaged, the most you would receive is $2,000 after paying your deductible. If it’s costing in excess of $200 a year for your policy with full coverage, then it might be time to buy liability only.

There are some circumstances where dropping full coverage is not a good plan. If you haven’t satisfied your loan, you must maintain physical damage coverage as part of the loan conditions. Also, if your emergency fund is not enough to purchase a different vehicle if your current one is damaged, you should not consider dropping full coverage.

Don’t overlook these Ford Mustang insurance discounts

Auto insurance is not inexpensive, but discounts can save money and there are some available that may help make it more affordable. Many of these discounts will be applied automatically at the time of quoting, but a few need to be manually applied prior to receiving the credit. If you don’t get every credit you deserve, you’re paying more than you need to.

• Discounts for Multiple Vehicles – Insuring more than one vehicle on a single policy can reduce rates for all insured vehicles.
• Club Memberships – Joining a civic or occupational organization in Indianapolis could trigger savings on your next auto insurance statement.
• Student Discount for Driver Training – It’s a good idea to have your young drivers successfully take a driver’s education course in school.
• Early Renewal Discounts – A few insurance companies offer discounts for switching to them prior to your current Mustang insurance policy expiring. You can save around 10% with this discount.
• ABS and Traction Control Discounts – Vehicles with ABS and/or traction control have fewer accidents so companies give up to a 10% discount.
• Homeowners Savings – Just owning your own home may earn you a small savings since home ownership demonstrates responsibility.
• Theft Deterrent System – Cars and trucks that have factory anti-theft systems are stolen less frequently and can earn a small discount on your policy.

Discounts save money, but please remember that most credits do not apply to the overall cost of the policy. Most only reduce specific coverage prices like liability, collision or medical payments. So when the math indicates having all the discounts means you get insurance for free, you’re out of luck.

The illustration below shows the difference between Ford Mustang premium costs with and without discounts applied to the policy rates. The rates are based on a female driver, no violations or accidents, Indiana state minimum liability limits, full coverage, and $500 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with claim-free, marriage, multi-car, multi-policy, homeowner, and safe-driver discounts applied.

Car insurance companies that possibly offer most of the discounts above include:

• Esurance
• The Hartford
• AAA
• GEICO
• State Farm

When getting a coverage quote, ask each company or agent which discounts they offer. Depending on the company, some discounts may not be offered in your state. To see a list of companies with the best discounts in Indiana, click here to view.

You are unique and your auto insurance should be too

When it comes to your policy, there really isn’t a “best” method to buy coverage. You are unique.

For example, these questions might point out whether you will benefit from professional help.

• Is rental equipment covered for theft or damage?
• Am I covered when driving someone else’s vehicle?
• Should I rate my Ford Mustang as pleasure use or commute?
• Do I need medical payments coverage since I have good health insurance?
• Do I have coverage for damage caused while driving under the influence?
• Can I use my car for my catering business?
• Do I pay less if my vehicle is kept in my garage?
• Do I have any recourse if my insurance company denies a claim?
• Why is insurance for a teen driver so high in Indianapolis?
• What is no-fault insurance?

If you don’t know the answers to these questions but you know they apply to you, you may need to chat with a licensed insurance agent. If you want to speak to an agent in your area, complete this form.

Exclusive or independent auto insurance agents

Many drivers would prefer to buy from a local agent and that can be a great decision A nice benefit of comparing rates online is that you can find lower rates and still buy from a local agent. Putting coverage with small agencies is important particularly in Indianapolis.

Once you complete this form (opens in new window), your insurance coverage information is transmitted to local insurance agents that provide free Indianapolis car insurance quotes for your coverage. You won’t need to find an agent since price quotes are sent to you directly. You can find better rates without requiring a lot of work. If you want to quote rates from a specific insurance company, you would need to jump over to their website and fill out the quote form the provide.

When researching a local Indianapolis insurance agent, you need to know there are two types of agencies and how they differ in how they quote coverages. Indianapolis agents may be either independent (non-exclusive) or exclusive.

Independent Insurance Agents

These type of agents often have many company appointments so they have the ability to put coverage with many different companies and find you cheaper rates. To transfer your coverage to a different company, they simply move your policy to a different company and you don’t have to find a new agent.

If you need cheaper auto insurance rates, you need to get insurance quotes from at least one independent agent for the best price selection.

The following is a small list of independent insurance agencies in Indianapolis that can possibly get you comparison quotes.

View more Indianapolis agents

Exclusive Agents

Exclusive agencies can only provide pricing for a single company and examples are Allstate, State Farm and Farmers Insurance. These agents are unable to provide rate quotes from other companies so you might not find the best rates. Exclusive agencies receive a lot of sales training on what they offer which helps offset the inability to provide other markets.

Shown below are exclusive insurance agents in Indianapolis who can help you get rate quotes.

View more Indianapolis agents

Deciding on an insurance agent requires more thought than just a cheap quote. A good agent in Indianapolis will have answers to these questions.

• If independent agents, which companies do they recommend?
• Has the agent ever had any license suspensions?
• How many years of experience in personal auto insurance do they have?
• Can they give you a list of client referrals?
• How would your car be valued if totaled?
• If you have an accident, will your rates go up?

Affordable insurance is out there

In this article, we covered some good ideas how to reduce Ford Mustang insurance premium rates online in Indianapolis. The key thing to remember is the more quotes you get, the more likely it is that you will get a better rate. Drivers may even discover the lowest premium rates come from a small local company.

When getting Indianapolis car insurance quotes online, make sure you don’t buy poor coverage just to save money. In many cases, drivers have reduced liability limits or collision coverage and found out when filing a claim that their decision to reduce coverage ended up costing them more. Your objective should be to buy a smart amount of coverage at a price you can afford while not skimping on critical coverages.

Consumers change insurance companies for a number of reasons such as questionable increases in premium, extreme rates for teen drivers, delays in responding to claim requests or delays in paying claims. Regardless of your reason, choosing a new insurance company is not as difficult as it may seem.

Steps to finding affordable Ford Mustang insurance in Indianapolis

It takes a little time, but the best way to get cheaper Ford Mustang insurance is to regularly compare quotes from companies who sell auto insurance in Indianapolis. Price quotes can be compared by following these guidelines.

1. Try to understand the different coverages in a policy and the measures you can control to prevent expensive coverage. Many risk factors that cause high rates such as speeding and an unacceptable credit rating can be improved by making minor driving habit or lifestyle changes.
2. Compare price quotes from direct, independent, and exclusive agents. Direct companies and exclusive agencies can provide rates from a single company like GEICO and Allstate, while independent agencies can provide price quotes from multiple sources.
3. Compare the new quotes to your current policy premium to see if cheaper Mustang coverage is available. If you find better rates and buy the policy, make sure the effective date of the new policy is the same as the expiration date of the old one.
4. Tell your current company to cancel your current coverage and submit the completed application along with a down payment for your new policy. Once the paperwork is finalized, place your new certificate verifying coverage along with your vehicle registration.

The key thing to know about shopping around is to try to compare identical coverage information on every quote request and and to look at as many different companies as possible. Doing this helps ensure a fair rate comparison and a better comparison of the market.

Other resources

• Credit and Insurance Scores (Insurance Information Institute)
• Who Has the Cheapest Indianapolis Auto Insurance for Drivers Over Age 50? (FAQ)
• What Auto Insurance is Cheapest for Nurses in Indianapolis? (FAQ)
• Who Has Cheap Auto Insurance with Multiple Speeding Tickets in Indianapolis? (FAQ)
• How Much are Indianapolis Auto Insurance Quotes for a Ford Explorer? (FAQ)
• What Insurance is Cheapest for Police Officers in Indianapolis? (FAQ)
• Five Steps to Filing an Auto Insurance Claim (Insurance Information Institute)
• How to Avoid Staged Accidents (State Farm)
• Safety Tips for Teen Drivers (Insurance Information Institute)