Ford Mustang Insurance Rate Quotes in San Jose

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Discount Ford Mustang insuranceAre you irritated from paying out the nose to pay insurance each month? You have the same problem as many other California drivers.

It goes without saying that car insurance companies want to keep your business as long as possible. Insureds who shop around annually will presumably buy a different policy because of the good chance of finding a policy with better rates. A recent insurance study discovered that drivers who routinely shopped around saved about $72 a month compared to policyholders who didn't regularly shop around.

If saving money on Ford Mustang insurance is your target objective, knowing how to quote and compare car insurance can help make the process easier and more efficient.

Companies like GEICO and Progressive all claim big savings with ads and it can be hard to separate fact from fiction and take the time to shop coverage around.

You need to get comparison quotes quite often since insurance prices are adjusted regularly by insurance companies. Even if you think you had the best price on Ford Mustang insurance in San Jose two years ago you will most likely find a better rate quote today. Don't believe everything you read about Mustang insurance online, but by reading this article, you're going to learn some proven techniques to quit paying high insurance rates in San Jose.

Just remember that making a lot of price comparisons will increase your chances of finding a better price. Not every company does online San Jose Mustang insurance quotes, so you need to compare rates from them, too.

The auto insurance companies shown below are ready to provide free rate quotes in San Jose, CA. If more than one company is shown, we suggest you click on several of them in order to find the cheapest rates.

Protect more than your Ford vehicle

Despite the high insurance cost for a Ford Mustang in San Jose, insurance may be required and benefits you in several ways.

  • Just about all states have compulsory liability insurance requirements which means the state requires a specific minimum amount of liability insurance coverage in order to drive the car legally. In California these limits are 15/30/5 which means you must have $15,000 of bodily injury coverage per person, $30,000 of bodily injury coverage per accident, and $5,000 of property damage coverage.
  • If your Mustang has a lienholder, almost all lenders will have a requirement that you have comprehensive coverage to guarantee their interest in the vehicle. If you do not keep the policy in force, the bank or lender will purchase a policy for your Ford for a much higher rate and require you to pay the higher premium.
  • Insurance safeguards both your assets and your Ford Mustang. Insurance will pay for medical transport and hospital expenses for both you and anyone you injure as the result of an accident. Liability coverage, the one required by state law, also covers legal expenses if you cause an accident and are sued. If your car is damaged in a storm or accident, your car insurance policy will cover the repair costs.

The benefits of having car insurance outweigh the cost, especially when you need to use it. According to a survey of 1,000 drivers, the average driver is overpaying more than $865 each year so compare rate quotes every year to be sure current rates are still competitive.

Ford Mustang insurance statistics and information

The rate table shown below showcases estimates of policy rates for Ford Mustang models. Having a better idea how insurance premiums are figured is important for making smart choices when selecting a policy.

Ford Mustang Insurance Rates in San Jose, CA
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Mustang 2-Dr Convertible $316 $546 $578 $34 $174 $1,648 $137
Mustang 2-Dr Coupe $316 $546 $724 $42 $216 $1,844 $154
Mustang GT 2-Dr Convertible $358 $630 $578 $34 $174 $1,774 $148
Mustang GT 2-Dr Coupe $358 $630 $724 $42 $216 $1,970 $164
Mustang Shelby GT500 2-Dr Convertible $398 $794 $578 $34 $174 $1,978 $165
Mustang Shelby GT500 2-Dr Coupe $438 $878 $724 $42 $216 $2,298 $192
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Price data assumes single male driver age 30, no speeding tickets, no at-fault accidents, $500 deductibles, and California minimum liability limits. Discounts applied include homeowner, multi-policy, multi-vehicle, claim-free, and safe-driver. Premium amounts do not factor in specific garaging location which can decrease or increase rates noticeably.

Policy deductibles

When comparing auto insurance rates, the most common question is how high should the physical damage coverage deductibles be. The following tables show the rate differences when you choose different comp and collision deductibles. The first data set uses a $250 deductible for comp and collision and the second set of prices uses a $1,000 deductible.

Ford Mustang insurance prices with $250 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Mustang 2-Dr Convertible $342 $678 $442 $26 $132 $1,645 $137
Mustang 2-Dr Coupe $342 $678 $552 $32 $166 $1,795 $150
Mustang GT 2-Dr Convertible $386 $780 $442 $26 $132 $1,791 $149
Mustang GT 2-Dr Coupe $386 $780 $552 $32 $166 $1,941 $162
Mustang Shelby GT500 2-Dr Convertible $430 $986 $442 $26 $132 $2,041 $170
Mustang Shelby GT500 2-Dr Coupe $474 $1088 $552 $32 $166 $2,337 $195
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Ford Mustang insurance prices with $1,000 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Mustang 2-Dr Convertible $210 $426 $442 $26 $132 $1,236 $103
Mustang 2-Dr Coupe $210 $426 $552 $32 $166 $1,386 $116
Mustang GT 2-Dr Convertible $238 $490 $442 $26 $132 $1,328 $111
Mustang GT 2-Dr Coupe $238 $490 $552 $32 $166 $1,478 $123
Mustang Shelby GT500 2-Dr Convertible $266 $620 $442 $26 $132 $1,486 $124
Mustang Shelby GT500 2-Dr Coupe $292 $684 $552 $32 $166 $1,726 $144
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Above prices assume married male driver age 30, no speeding tickets, no at-fault accidents, and California minimum liability limits. Discounts applied include safe-driver, homeowner, multi-vehicle, multi-policy, and claim-free. Premium amounts do not factor in specific garaging location which can lower or raise insurance rates considerably.

Based on the above data, using a $250 deductible costs an average of $41 more each month or $492 for a full year than requesting the higher $1,000 deductible. Since the policyholder would be required to pay $750 more out of your own pocket with a $1,000 deductible as compared to a $250 deductible, if you normally average at least 18 months between claims, you would probably save some money by going with a higher deductible.

Ford Mustang liability-only versus full coverage

The chart below shows the difference between Ford Mustang car insurance costs when comparing full coverage to liability only. The premium estimates are based on no tickets, no at-fault accidents, $100 deductibles, single marital status, and no discounts are taken into consideration.

When to drop comprehensive and collision

There is no specific rule to stop paying for physical damage coverage on your policy, but there is a broad guideline. If the annual cost of having full coverage is 10% or more of the replacement cost of your vehicle minus the policy deductible, the it may be a good time to stop paying for full coverage.

For example, let's assume your Ford Mustang replacement cost is $5,000 and you have $1,000 deductibles. If your vehicle is destroyed, the most you would receive is $4,000 after you pay the deductible. If it's costing you more than $400 a year for full coverage, then it could be time to drop full coverage.

There are a few situations where dropping full coverage is not a good idea. If you still have a lienholder on your title, you are required to maintain full coverage in order to satisfy the requirements of the loan. Also, if your emergency fund is not enough to purchase a different vehicle in the even your car is totaled, you should not remove full coverage.

Cheap Ford Mustang insurance rates in San Jose

Some insurers do not advertise every available discount in an easy-to-find place, so we researched a few of the more well known in addition to some of the lesser obvious discounts that you can inquire about if you buy San Jose auto insurance online. If you check and find you aren't receiving every discount you deserve, you may be paying too high a price.Save money with discounts

  • Discount for Life Insurance - Select companies reward you with a discount if you purchase some life insurance too.
  • Own a Home and Save - Just being a homeowner may trigger a policy discount on auto insurance due to the fact that maintaining a home requires personal responsibility.
  • Discounts for Government Workers - Being employed by or retired from a federal job can save as much as 8% depending on your auto insurance provider.
  • Drivers Education - It's a good idea to have your young drivers participate in a local driver's education class in school.
  • No Accidents - Claim-free drivers can earn big discounts as opposed to drivers with a long claim history.
  • Responsible Driver Discount - Drivers without accidents could pay up to 40% less compared to accident prone drivers.
  • Discount for Good Grades - A discount for being a good student can save 20 to 25%. You can use this discount normally until age 25.
  • Passive Restraints and Air Bags - Factory air bags may earn rate discounts of 20 to 30 percent.
  • Pay Upfront and Save - If you pay your entire premium ahead of time rather than spreading payments over time you could save 5% or more.
  • Telematics Discount - Insureds who allow driving data collection to study driving patterns by using a telematics device in their vehicle such as In-Drive from State Farm or Allstate's Drivewise system may get a rate reduction if they have good driving habits.

As a sidenote, some credits don't apply to the whole policy. Most only reduce the price of certain insurance coverages like physical damage coverage or medical payments. Just because you may think you could get a free auto insurance policy, that's just not realistic. But all discounts will lower the cost of your policy.

The diagram below illustrates the comparison of Ford Mustang premium costs with and without discounts applied to the policy premium. The premiums assume a male driver, no violations or accidents, California 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-car, safe-driver, multi-policy, homeowner, claim-free, and marriage discounts applied.

A list of companies and a partial list of their discounts can be found below.

  • Farm Bureau discounts include safe driver, good student, driver training, renewal discount, youthful driver, and multi-vehicle.
  • Liberty Mutual offers premium reductions for newly married, hybrid vehicle, good student, preferred payment discount, new move discount, new graduate, and safety features.
  • State Farm may offer discounts for multiple policy, passive restraint, Steer Clear safe driver discount, accident-free, and safe vehicle.
  • Auto-Owners Insurance may have discounts that include safe vehicle, air bags, paperless, good student, mature driver, and safe driver.
  • GEICO has discounts for membership and employees, good student, anti-lock brakes, multi-vehicle, military active duty, anti-theft, and multi-policy.
  • SAFECO includes discounts for anti-lock brakes, anti-theft, bundle discounts, teen safe driver, multi-car, homeowner, and safe driver.

Double check with each company or agent which discounts you qualify for. Some discounts listed above may not apply to policies in your state.

Auto insurance can be complex

Always remember that when buying insurance from an agent or online, there really isn't a "perfect" insurance plan. Your situation is unique and your policy should reflect that.Auto insurance savings These are some specific questions can aid in determining whether you might need an agent's assistance.

  • Can my babysitter drive my car?
  • Should I have a commercial auto policy?
  • Do all my vehicles need collision coverage?
  • How do I file an SR-22 for a DUI in California?
  • What are the liability requirements in my state?
  • Will damage be repaired with OEM parts?
  • How do I buy GAP insurance?
  • Is my custom stereo system covered?
  • Can I insure my car for more than it's worth?
  • Should I rate my vehicle as business use?

If you can't answer these questions but you think they might apply to your situation, you might consider talking to a licensed insurance agent. To find lower rates from a local agent, fill out this quick form or you can go here for a list of companies in your area.