Find Affordable Ford Mustang Insurance in Colorado Springs

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Ford Mustang insurance cost
Ford Mustang insurance cost image courtesy of QuoteInspector.com

The best way we recommend to get more affordable car insurance rates in Colorado Springs is to start doing a yearly price comparison from insurance carriers that sell auto insurance in Colorado. You can compare rates by following these guidelines.

  • Step 1: Try to learn about what is in your policy and the measures you can control to keep rates down. Many policy risk factors that cause rate increases such as careless driving and an unacceptable credit history can be remedied by making small lifestyle or driving habit changes. Read the full article for additional ideas to get low prices and find available discounts that you may qualify for.
  • Step 2: Request price quotes from independent agents, exclusive agents, and direct companies. Exclusive and direct companies can only provide price estimates from one company like GEICO and Allstate, while independent agencies can give you price quotes for many different companies.
  • Step 3: Compare the price quotes to your existing coverage and see if you can save money. If you can save some money and buy the policy, make sure there is no coverage gap between policies.
  • Step 4: Provide adequate notice to your current company to cancel the current policy and submit a down payment and signed policy application to the newly selected company. Immediately upon receiving it, keep the new certificate of insurance along with the vehicle's registration papers.

The most important part of this process is to use the same level of coverage on each quote request and and to get prices from as many companies as possible. This guarantees a fair rate comparison and and a good selection of different prices.

Insurance for Ford MustangIt's amazing but most car insurance policyholders have purchased from the same company for over three years, and almost 40% of drivers have never compared rates from other carriers. Many drivers in Colorado could cut their rates by almost 35% a year by just comparing rate quotes, but they don't believe the amount of savings they would get if they switch to a new company.

Obtaining price quotes for the most affordable auto insurance policy in Colorado Springs can be fairly easy. If you have a current auto insurance policy or need new coverage, you can learn to buy cheaper auto insurance and still get good coverage. Drivers only need an understanding of the best way to shop their coverage around over the internet.

Finding low cost Ford Mustang insurance rates can be relatively painless. The only thing you need to do is take the time getting comparison quotes online from several insurance companies.

The companies shown below are ready to provide quotes in Colorado Springs, CO. To find cheap car insurance in Colorado Springs, CO, we recommend you visit several of them to get the most competitive price.

Colorado Springs auto insurance discounts

Auto insurance is neither fun to buy or cheap, but you might be missing out on some discounts that can drop the cost substantially. Certain credits will be shown when you quote, but less common discounts must be specifically requested prior to receiving the credit. If you do not double check each discount you deserve, you're paying more than you need to.Cheaper auto insurance with discounts

  • Good Grades Discount - Getting good grades can get you a discount of up to 25%. The discount lasts until age 25.
  • Pay Upfront and Save - If you pay your entire premium ahead of time instead of making monthly payments you can avoid the installment charge.
  • Theft Deterrent - Cars, trucks, and SUVs with anti-theft systems help deter theft and therefore earn up to a 10% discount.
  • Military Rewards - Being deployed with a military unit can result in better rates.
  • E-sign Discounts - Some insurance companies will discount your bill up to fifty bucks for buying your policy over the internet.
  • Discount for Low Mileage - Driving fewer miles may enable drivers to earn substantially lower auto insurance rates.
  • Save with More Vehicles Insured - Purchasing coverage when you have primary and secondary vehicles with the same auto insurance company can get a discount on all vehicles.
  • Telematics Discount - Insureds who allow data collection to scrutinize driving patterns by installing a telematics device such as Progressive's Snapshot and State Farm's In-Drive may see discounts if they have good driving habits.
  • Resident Student - Kids who attend college more than 100 miles from Colorado Springs and do not have access to a covered vehicle may be insured at a cheaper rate.
  • Multi-line Discount - Select insurance carriers reward you with a discount if you purchase some life insurance in addition to your auto policy.

Don't be shocked that some of the credits will not apply to the entire cost. Most cut individual premiums such as physical damage coverage or medical payments. So even though it sounds like all the discounts add up to a free policy, companies don't profit that way.

The chart below compares Ford Mustang auto insurance rates with and without discounts applied to the premium. Data assumes a male driver, no violations or claims, Colorado 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 multi-car, safe-driver, homeowner, marriage, claim-free, and multi-policy discounts applied.

For a list of insurance companies who offer auto insurance discounts in Colorado Springs, click here.

Analysis of coverages

The premium table displayed below highlights estimates of prices for Ford Mustang models. Knowing how auto insurance policy rates are established can help guide drivers when making smart choices when choosing a car insurance company.

Ford Mustang Insurance Rates in Colorado Springs, CO
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Mustang 2-Dr Convertible $162 $332 $358 $22 $108 $982 $82
Mustang 2-Dr Coupe $162 $332 $448 $26 $134 $1,102 $92
Mustang GT 2-Dr Convertible $184 $382 $358 $22 $108 $1,054 $88
Mustang GT 2-Dr Coupe $184 $382 $448 $26 $134 $1,174 $98
Mustang Shelby GT500 2-Dr Convertible $204 $482 $358 $22 $108 $1,174 $98
Mustang Shelby GT500 2-Dr Coupe $226 $534 $448 $26 $134 $1,368 $114
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Price data assumes married female driver age 30, no speeding tickets, no at-fault accidents, $1000 deductibles, and Colorado minimum liability limits. Discounts applied include multi-policy, homeowner, claim-free, safe-driver, and multi-vehicle. Price estimates do not factor in zip code location which can lower or raise auto insurance rates substantially.

Raise deductibles and save

The hardest decision when buying coverage is which deductible level should you buy. The comparisons below may help to conceptualize how much more rates are between high and low deductibles. The first set of rates uses a $100 physical damage deductible and the second set of rates uses a $500 deductible.

Ford Mustang insurance rates with $100 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Mustang 2-Dr Convertible $302 $644 $352 $20 $106 $1,449 $121
Mustang 2-Dr Coupe $302 $644 $440 $26 $132 $1,569 $131
Mustang GT 2-Dr Convertible $342 $740 $352 $20 $106 $1,585 $132
Mustang GT 2-Dr Coupe $342 $740 $440 $26 $132 $1,705 $142
Mustang Shelby GT500 2-Dr Convertible $380 $936 $352 $20 $106 $1,819 $152
Mustang Shelby GT500 2-Dr Coupe $420 $1032 $440 $26 $132 $2,075 $173
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Ford Mustang insurance rates with $500 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Mustang 2-Dr Convertible $220 $434 $352 $20 $106 $1,132 $94
Mustang 2-Dr Coupe $220 $434 $440 $26 $132 $1,252 $104
Mustang GT 2-Dr Convertible $250 $500 $352 $20 $106 $1,228 $102
Mustang GT 2-Dr Coupe $250 $500 $440 $26 $132 $1,348 $112
Mustang Shelby GT500 2-Dr Convertible $278 $632 $352 $20 $106 $1,388 $116
Mustang Shelby GT500 2-Dr Coupe $306 $698 $440 $26 $132 $1,602 $134
Get Your Own Custom Quote Go

Cost estimates assume married male driver age 30, no speeding tickets, no at-fault accidents, and Colorado minimum liability limits. Discounts applied include multi-policy, multi-vehicle, homeowner, safe-driver, and claim-free. Premium costs do not factor in specific location which can change rates greatly.

Based on these figures, using a $100 deductible could cost the average driver approximately $32 more each month or $384 each year than choosing the higher $500 deductible. Due to the fact that you would have to pay $400 more out of your own pocket with a $500 deductible as compared to a $100 deductible, if you average at a minimum 13 months between claims, you would most likely save money going with the higher deductible.

Impact of violations and accidents on rates in Colorado Springs

The information below shows how violations and at-fault fender-benders drive up Ford Mustang auto insurance rates for each different age category. Data assumes a single male driver, comp and collision included, $250 deductibles, and no discounts are taken into consideration.

How much more does full coverage cost?

The illustration below shows the comparison of Ford Mustang car insurance rates with full physical damage coverage and with liability coverage only. The data assumes a clean driving record, no claims, $1,000 deductibles, drivers are single, and no discounts are taken into consideration.

When to stop buying comprehensive and collision coverage

There is no definitive guideline that works best for making the decision to drop comprehensive and collision coverage on your policy, but there is a guideline you can use. If the yearly cost for physical damage coverage is more than around 10% of the replacement cost of your vehicle minus the policy deductible, then you might want to think about dropping full coverage.

For example, let's assume your Ford Mustang replacement value is $5,000 and you have $1,000 policy deductibles. If your vehicle is destroyed, the most you would receive is $4,000 after paying the physical damage deductible. If you are paying in excess of $400 a year for your policy with full coverage, then it could be time to drop full coverage.

There are some scenarios where dropping full coverage is not recommended. If you still have a lienholder on your title, you have to maintain full coverage as part of the loan conditions. Also, if your savings is not enough to buy a different vehicle in the event your current vehicle is totaled, you should maintain full coverage.

When to talk to an insurance agency

A lot of people would rather go talk to an agent and doing that can be a smart decision Good insurance agents can answer important questions and help submit paperwork. An additional benefit of comparing rate quotes online is the fact that drivers can get lower rates but still work with a licensed agent. And buying from local insurance agencies is especially important in Colorado Springs.

Find insurance agent in Colorado SpringsAfter filling out this short form, your insurance data is transmitted to insurance agents in Colorado Springs that can provide free Colorado Springs auto insurance quotes for your insurance coverage. You won't need to contact any insurance agencies since rate quotes are delivered to the email address you provide. If you wish to compare rates from one company in particular, feel free to go to their quote page and complete a quote there.

Different types of Colorado Springs car insurance agents

When searching for a reliable insurance agency, it's important to understand the different types of agencies that differ in how they can insure your vehicles. Insurance agencies can either be independent (non-exclusive) or exclusive. Either one can properly insure your vehicles, but it's a good idea to understand the difference between them because it can factor into your selection of an agent.

Independent Insurance Agents

Independent insurance agents can sell policies from many different companies so they have the ability to put coverage through lots of different companies and find you cheaper rates. If they quote lower rates, the business is moved internally and you stay with the same agent.

When searching for an agent, you need to get several quotes from multiple independent agents to have the best price comparison. Many independent agencies also insure through smaller companies which may provide better rates.

Shown below is a partial list of independent insurance agents in Colorado Springs that can possibly get you cheap rate quotes.

View more Colorado Springs agents

Exclusive Insurance Agencies

Exclusive agents are contracted to one company and examples are Farmers Insurance, American Family, State Farm and Allstate. These agents are not able to provide prices from multiple companies so you need to shop around if the rates are high. Exclusive agents receive a lot of sales training on sales techniques which can be an advantage. Consumers often choose to use an exclusive agent primarily because of the prominent brand name rather than having the cheapest rates.

Listed below are Colorado Springs exclusive insurance agencies who can help you get rate quotes.

View more Colorado Springs agents

Finding the right insurance agency requires more thought than just the premium amount. Get answers to these questions too.

  • Will they give you a referral list?
  • Can you use your own choice of collision repair facility?
  • Are there any hidden costs in their price quote and does it include driving and credit history?
  • How does the company pay claims for a total loss?
  • Where are claims handled?
  • How long has their agency been open in Colorado Springs?
  • Is coverage determined by price?
  • What insurance companies do they recommend if they are an independent agent?

Smart Buyers Know How to Quote Auto Insurance More Affordably

The best way to find cheaper auto insurance is to take a look at some of the things that go into determining the price you pay for auto insurance. If you have some idea of what determines base rates, this allows you to make good choices that could result in lower auto insurance prices. Lots of things are used in the calculation when pricing auto insurance. Some factors are common sense like a motor vehicle report, but other factors are less apparent like your continuous coverage or your commute time.

If you don't need it don't buy it - There are quite a few add-on coverages that may not really be needed if you don't pay attention. Insurance for things like vanishing deductibles, accident forgiveness, and motor club memberships may not be needed and are just wasting money. These may sound like a good investment when discussing your needs, but if they're wasting money eliminate them to save money.

Does car insurance cost more for guys? - Statistics show females are less aggressive when driving. However, this does not mean men are WORSE drivers than women. Females and males are in auto accidents in similar percentages, but men tend to have higher claims. They also get ticketed for serious violations like DUI and reckless driving.

The information below shows the difference between Ford Mustang annual premium costs for male and female drivers. The prices are based on a clean driving record, no claims, full physical damage coverage, $100 deductibles, single status, and no discounts are applied.

Credit rating impacts rates - Your credit score will be a significant factor in calculating your premium rate. People that have high credit ratings tend to be better drivers and file fewer claims as compared to drivers with poor credit scores. If your credit history is lower than you'd like, you could save money insuring your Ford Mustang by improving your credit score.

A policy lapse is a bad thing - Not maintaining insurance is a misdemeanor and you will pay a penalty because you let your coverage cancel without a new policy in place. And not only will insurance be more expensive, getting caught without coverage can result in a fine, jail time, or a revoked license.

Safety ratings are a factor - Vehicles with high crash test scores get lower rates. Safe vehicles result in less severe injuries and better occupant protection means less money paid by your insurance company and lower rates for you. If your Ford Mustang is rated at a minimum four stars on Safercar.gov you may qualify for a discount.

Do you save by driving less? - The more you drive your Ford in a year the higher your rate. Most companies charge rates partially by how you use the vehicle. Vehicles that have low annual miles receive better premium rates as compared to vehicles used primarily for driving to work. Double check that your vehicle rating states the proper vehicle usage. An incorrectly rated Mustang can result in significantly higher rates.

Consolidating policies can get discounts - Most insurers will give a discount to policyholders that purchase more than one policy such as combining an auto and homeowners policy. Discounts can add up to 10 percent or more. Even with this discount, you still need to comparison shop to confirm you are receiving the best rates possible. Consumers may find better rates by insuring with multiple companies.

Auto insurance rates and your occupation - Jobs such as real estate brokers, architects, and medical professionals tend to have higher average rates in part from high stress levels and incredibly demanding work hours. Conversely, jobs like scientists, athletes and retirees get better rates.

Loss probability for a Ford Mustang - Insurance companies use statistical claims data to help calculate a profitable premium rate. Vehicles that tend to have higher claim amounts or frequency will have a higher premium rate. The information below illustrates the historical loss data for Ford Mustang vehicles.

For each insurance policy coverage type, the claim amount for all vehicles combined as an average is considered to be 100. Numbers under 100 mean the vehicle has better than average losses, while numbers that are greater than 100 indicate more frequent claims or statistically larger claims.

Ford Mustang Insurance Claim Statistics
Vehicle 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
BETTER
AVERAGE
WORSE

Empty fields indicate not enough data collected
Statistics Source: Insurance Institute for Highway Safety for 2013-2015 Model Years

Choosing Mustang insurance is an important decision

Despite the fact that insurance is not cheap in Colorado Springs, insurance serves several important purposes.

  • Most states have mandatory insurance requirements which means the state requires a minimum amount of liability if you don't want to risk a ticket. In Colorado these limits are 25/50/15 which means you must have $25,000 of bodily injury coverage per person, $50,000 of bodily injury coverage per accident, and $15,000 of property damage coverage.
  • If you took out a loan on your Mustang, it's most likely the lender will stipulate that you have comprehensive coverage to ensure loan repayment if the vehicle is totaled. If you let the policy lapse, the bank may insure your Ford at an extremely high rate and force you to pay for the expensive policy.
  • Insurance protects both your assets and your vehicle. It will also cover many types of medical costs for you, your passengers, and anyone else injured in an accident. Liability coverage, the one required by state law, will also pay attorney fees if you are named as a defendant in an auto accident. If damage is caused by hail or an accident, your policy will pay to have it repaired.

The benefits of insuring your Mustang outweigh the cost, particularly when you have a large claim. According to a survey of 1,000 drivers, the average driver is overpaying over $820 a year so compare rates at every renewal to ensure rates are inline.

Compare insurance rates regularly to save

We just showed you many tips how you can reduce Ford Mustang insurance premium rates online in Colorado Springs. The key thing to remember is the more price quotes you have, the better your chances of lowering your prices. Consumers may even find the lowest priced insurance comes from some of the lesser-known companies.

As you restructure your insurance plan, never buy lower coverage limits just to save a few bucks. In too many instances, drivers have reduced comprehensive coverage or liability limits only to discover later they didn't purchase enough coverage. Your focus should be to purchase plenty of coverage at the best price while still protecting your assets.

Cheaper Ford Mustang insurance in Colorado Springs is possible both online as well as from insurance agents, and you need to comparison shop both in order to have the best price selection to choose from. There are still a few companies who may not provide rates over the internet and many times these smaller providers work with local independent agencies.

More detailed insurance information can be found by following these links: