Best Quotes for Ford Mustang Insurance in Madison

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The preferred way to find more affordable Ford Mustang insurance in Madison is to annually compare prices from providers in Wisconsin.

Step 1: Try to comprehend the coverage provided by your policy and the changes you can make to keep rates down. Many rating factors that increase rates like speeding tickets, careless driving and a not-so-good credit rating can be improved by making minor changes to your lifestyle.

Step 2: Quote rates from direct carriers, independent agents, and exclusive agents. Exclusive and direct companies can only give rate quotes from a single company like GEICO or State Farm, while independent agents can give you price quotes for many different companies.

Step 3: Compare the new rates to your existing rates to determine if switching companies saves money. If you can save money and buy the policy, make sure there is no lapse in coverage.

Step 4: Give notification to your current company to cancel your existing policy and submit payment and a signed application for the new policy. Immediately put the proof of insurance certificate somewhere easily accessible.

One key aspect when comparing rates is to use the same liability limits and deductibles on each quote request and and to get rates from every company you can. This provides a fair price comparison and the best price selection.

Discount Ford Mustang insuranceIt's hard to fathom, but most consumers have bought auto insurance from the same company for well over three years, and 38% of customers have never compared quotes from other companies. Many drivers in Wisconsin could save up to 30% each year by just shopping around, but they won't spend time to compare rates.

If you're already insured or want to find a cheaper company, use these techniques to find the best rates without sacrificing coverage. Buying the cheapest insurance in Madison can be much easier if you know how to start. You just have to know the least time-consuming way to buy insurance from many different companies online.

Most larger insurance companies allow consumers to get insurance quotes directly from their websites. Comparing Ford Mustang insurance rates online is possible for anyone because it's just a matter of typing in the coverage amounts you desire as requested by the quote form. After you submit the form the company's rating system collects your credit score and driving record and returns pricing information. This simplifies rate comparisons, and it's also necessary to compare as many rates as possible if you are searching for cheaper insurance pricing.

To quickly compare pricing, compare rate quotes from the providers shown below. To compare your current rates, we recommend you duplicate the coverages identical to your current policy. This ensures you will get an apples-to-apples comparison based on identical coverages.

The following companies are ready to provide quotes in Madison, WI. To find the best cheap auto insurance in Madison, we suggest you visit several of them in order to find the most competitive rates.

Why car insurance is not optional

Despite the potentially high cost of Ford Mustang insurance, buying car insurance may be required and benefits you in several ways.

  • Just about all states have compulsory liability insurance requirements which means it is punishable by state law to not carry specific minimum amounts of liability coverage in order to drive the car legally. In Wisconsin these limits are 25/50/10 which means you must have $25,000 of bodily injury coverage per person, $50,000 of bodily injury coverage per accident, and $10,000 of property damage coverage.
  • If you have a lien on your Mustang, most banks will stipulate that you buy insurance to guarantee loan repayment. If coverage lapses or is canceled, the lender will be forced to insure your Ford at a much higher premium rate and force you to pay the higher premium.
  • Car insurance protects both your assets and your Ford Mustang. Insurance will pay for hospital and medical expenses for both you and anyone you injure as the result of an accident. Liability coverage, the one required by state law, will also pay to defend you if anyone sues you for causing an accident. If your Ford gets damaged, collision and comprehensive coverages will pay to repair the damage minus the deductible amount.

The benefits of having insurance definitely exceed the cost, especially with large liability claims. According to a recent study, the average American driver is overpaying over $869 every year so smart consumers compare quotes at least once a year to ensure rates are competitive.

Car insurance analysis for a Ford Mustang

The premium information displayed below highlights a range of policy rates for Ford Mustang models. Having a better idea how insurance prices are figured can help you make informed decisions when shopping around for a new policy.

Ford Mustang Insurance Rates in Madison, WI
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Mustang 2-Dr Convertible $124 $294 $260 $16 $78 $772 $64
Mustang 2-Dr Coupe $124 $294 $324 $20 $98 $860 $72
Mustang GT 2-Dr Convertible $140 $338 $260 $16 $78 $832 $69
Mustang GT 2-Dr Coupe $140 $338 $324 $20 $98 $920 $77
Mustang Shelby GT500 2-Dr Convertible $156 $426 $260 $16 $78 $936 $78
Mustang Shelby GT500 2-Dr Coupe $172 $470 $324 $20 $98 $1,084 $90
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Data variables include single male driver age 50, no speeding tickets, no at-fault accidents, $500 deductibles, and Wisconsin minimum liability limits. Discounts applied include safe-driver, claim-free, multi-vehicle, homeowner, and multi-policy. Price estimates do not factor in garaging location in Madison which can alter coverage rates noticeably.

Deductible analysis

The hardest decision when buying coverage is how high should the physical damage coverage deductibles be. The comparison tables below approximate how much more rates are when you choose different deductibles. The first rate estimation uses a $250 physical damage deductible and the second data table uses a $1,000 deductible.

Ford Mustang insurance rates with $250 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Mustang 2-Dr Convertible $178 $352 $230 $14 $68 $867 $72
Mustang 2-Dr Coupe $178 $352 $288 $18 $86 $947 $79
Mustang GT 2-Dr Convertible $200 $406 $230 $14 $68 $943 $79
Mustang GT 2-Dr Coupe $200 $406 $288 $18 $86 $1,023 $85
Mustang Shelby GT500 2-Dr Convertible $224 $512 $230 $14 $68 $1,073 $89
Mustang Shelby GT500 2-Dr Coupe $246 $566 $288 $18 $86 $1,229 $102
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Ford Mustang insurance rates with $1,000 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Mustang 2-Dr Convertible $110 $222 $230 $14 $68 $644 $54
Mustang 2-Dr Coupe $110 $222 $288 $18 $86 $724 $60
Mustang GT 2-Dr Convertible $124 $256 $230 $14 $68 $692 $58
Mustang GT 2-Dr Coupe $124 $256 $288 $18 $86 $772 $64
Mustang Shelby GT500 2-Dr Convertible $138 $322 $230 $14 $68 $772 $64
Mustang Shelby GT500 2-Dr Coupe $152 $356 $288 $18 $86 $900 $75
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Data variables include married male driver age 30, no speeding tickets, no at-fault accidents, and Wisconsin minimum liability limits. Discounts applied include homeowner, claim-free, multi-vehicle, safe-driver, and multi-policy. Premium costs do not factor in specific Madison garaging location which can raise or lower insurance rates noticeably.

We can estimate from the data above that using a $250 deductible will cost in the ballpark of $21 more each month or $252 each year than buying the higher $1,000 deductible. Since you would have to pay $750 more to settle a claim with a $1,000 deductible as compared to a $250 deductible, if you normally average at least 36 months between claims, you would probably save some money by going with a higher deductible. The table below illustrates an example of how you can make this decision for your own policy.

Average monthly premium for $250 deductibles: $84
Average monthly premium for $1,000 deductibles (subtract): - $63
Monthly savings from raising deductible: $21
Difference between deductibles ($1,000 - $250): $750
Divide difference by monthly savings: $750 / $21
Number of months required between physical damage coverage claims in order to save money by choosing the higher deductible 36 months

One big caveat is that raising deductibles to get cheaper rates means you will have to cover more of the damage yourself at claim time. You need enough money put aside in the event you need to pay the deductible to have repairs made.

The information below illustrates how choosing a deductible and can affect Ford Mustang insurance costs for different insured age categories. Data assumes a single female driver, full coverage, and no policy discounts are applied.

Drive safe and save

The diagram below demonstrates how speeding tickets and at-fault claims influence Ford Mustang insurance costs for different categories of driver ages. The rates are based on a married female driver, full coverage, $500 deductibles, and no discounts are applied to the premium.

Affordable rates with discounts

The price of auto insurance can be rather high, but you might be missing out on some discounts that you may not even be aware of. Many discounts should be triggered at quote time, but some must be specifically requested in order for you to get them. If you aren't receiving every discount you deserve, you may be paying too high a price.Discount car insurance

  • Theft Prevention Discount - Vehicles equipped with tracking devices and advanced anti-theft systems help deter theft and therefore earn up to a 10% discount.
  • No Accidents - Madison drivers who stay claim-free pay less in comparison with insureds who have frequent claims or accidents.
  • Sign Early and Save - A few larger companies allow discounts for renewing your policy before your current expiration date. It's a savings of about 10%.
  • Driver's Education for Students - Make teen driver coverage more affordable by requiring them to complete a driver education course as it can save substantially.
  • Memberships - Participating in a professional or civic organization is a good way to get lower rates when shopping for car insurance.
  • Own a Home and Save - Being a homeowner may earn you a small savings since home ownership requires a higher level of personal finance.
  • Fewer Miles Equal More Savings - Low annual miles may allow you to get slightly better car insurance rates than normal.
  • Data Collection Discounts - Insureds that choose to allow data collection to spy on when and where they use their vehicle by installing a telematics device such as Progressive's Snapshot could save a few bucks as long as they are good drivers.
  • Federal Employees - Simply working for the federal government may reduce rates when you quote Madison car insurance with certain companies.

We need to note that most of the big mark downs will not be given to the whole policy. Most only cut the cost of specific coverages such as comprehensive or collision. Even though the math looks like you can get free auto insurance, that's just not realistic.

The diagram below shows the comparison of Ford Mustang annual premium costs with and without discounts applied to the policy rates. The premiums assume a female driver, a clean driving record, no claims, Wisconsin state minimum liability limits, comp and collision included, and $500 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with claim-free, safe-driver, multi-policy, marriage, multi-car, and homeowner discounts applied.

If you would like to view car insurance companies that offer multiple discounts in Wisconsin, click here to view.

Situations that may require an agent's advice

Keep in mind that when it comes to choosing coverage online or from an agent, there is no one-size-fits-all type of policy. Everyone's situation is unique and your auto insurance should be unique as well.Higher deductibles save money These are some specific questions might help in determining whether your personal situation might need an agent's assistance.

  • Am I covered while delivering pizza?
  • Am I covered when renting a car or should I buy coverage from the car rental agency?
  • Do I need roadside assistance coverage?
  • What are the liability requirements in my state?
  • When would I need rental car insurance?
  • How much cheaper are high deductibles?

If it's difficult to answer those questions but a few of them apply then you might want to talk to a licensed insurance agent. To find an agent in your area, complete this form or you can go here for a list of companies in your area. It's fast, free and can provide invaluable advice.