Cheaper 1994 Ford Mustang SVT Cobra Insurance Rates

Want lower insurance rates for your Ford Mustang SVT Cobra? Did you fall for a flashy sales pitch and buy high-priced insurance? Trust us, you are not the only one feeling buyer’s remorse. Drivers have multiple insurers to pick from, and though it is a good thing to have multiple companies, too many choices makes it more difficult to compare rates and find the lowest cost insurance.

More discounts equal less premium

Insuring your fleet can be pricey, buy you may qualify for discounts to help offset the cost. Certain discounts will be triggered automatically when you quote, but less common discounts must be specially asked for in order for you to get them. If you’re not getting every credit you deserve, you are paying more than you should be.

  • Auto/Home Discount – If you insure your home and vehicles with the same insurance company you could get a discount of up to 20% off your total premium.
  • Drive Safe and Save – Insureds without accidents may receive a discount up to 45% less for Mustang SVT Cobra insurance than less cautious drivers.
  • Anti-lock Brake System – Vehicles equipped with ABS or steering control can reduce accidents and qualify for as much as a 10% discount.
  • Multi-car Discount – Buying insurance for more than one vehicle on one policy may reduce the rate for each vehicle.
  • Passive Restraints and Air Bags – Factory air bags or motorized seat belts can qualify for discounts of up to 25% or more.
  • Military Rewards – Having a family member in the military can result in better rates.

It’s important to note that most credits do not apply the the whole policy. Most only apply to specific coverage prices like liability, collision or medical payments. Just because you may think all those discounts means the company will pay you, it doesn’t quite work that way. But all discounts will reduce the cost of coverage.

For a list of companies with the best car insurance discounts, click here to view.

Factors that might impact rates for a Ford Mustang SVT Cobra

It’s important that you understand some of the elements that help determine your auto insurance rates. Having a good understanding of what determines base rates helps enable you to make changes that could result in better auto insurance rates.

  • Safer cars are cheaper to insure – Safer cars can get you lower premiums. The safest vehicles reduce injuries and better occupant protection means lower claim amounts and lower rates for you. If the Ford Mustang SVT Cobra scored better than four stars on Safercar.gov it may be receiving lower rates.
  • Liability coverage is cheap – Liability coverage provides coverage when you are found liable for personal injury or accident damage. It will provide legal defense which can cost thousands of dollars. Liability insurance is quite affordable when compared with rates for comp and collision, so drivers should carry high limits.
  • Optional equipment can affect rates – Owning a car with an alarm system can help bring down rates. Theft prevention features such as vehicle immobilizer systems, General Motors OnStar and LoJack tracking systems can help prevent auto theft.
  • With age comes lower rates – More mature drivers are more responsible, tend to file fewer claims and get fewer tickets. Teen drivers tend to get distracted easily when driving and because of this, their auto insurance rates are much higher.
  • Consolidate policies to earn discounts – Many insurers will give a discount to customers who carry more than one policy, otherwise known as a multi-policy discount. Even if you’re getting this discount you may still want to compare other company rates to verify if the discount is saving money. You may still find better rates by insuring with multiple companies.
  • Women pay lower rates – Statistics show that women are safer drivers than men. Now that doesn’t mean men are worse drivers. They both cause accidents in similar numbers, but the men tend to have more serious accidents. Men also statistically have more aggressive citations such as DWI and reckless driving.

It’s not one size fits all

When buying the right insurance coverage, there really is not a perfect coverage plan. Your needs are not the same as everyone else’s so your insurance needs to address that. Here are some questions about coverages that can aid in determining whether you would benefit from an agent’s advice.

  • When do I need to add a new car to my policy?
  • Who is covered when they drive my 1994 Ford Mustang SVT Cobra?
  • Do I have coverage when making deliveries for my home business?
  • Do I need replacement cost coverage on my 1994 Ford Mustang SVT Cobra?
  • What companies insure drivers after a DUI or DWI?
  • Is my custom paint covered by insurance?
  • Is my 1994 Ford Mustang SVT Cobra covered for smoke damage?

If you’re not sure about those questions but you think they might apply to your situation, then you may want to think about talking to a licensed insurance agent. If you don’t have a local agent, take a second and complete this form or you can go here for a list of companies in your area. It is quick, free and can help protect your family.

Auto insurance coverages

Understanding the coverages of a insurance policy can be of help when determining appropriate coverage and the correct deductibles and limits. The coverage terms in a policy can be difficult to understand and reading a policy is terribly boring. Listed below are the normal coverages found on the average insurance policy.

Collision coverage protection

This covers damage to your Mustang SVT Cobra resulting from a collision with an object or car. You will need to pay your deductible then your collision coverage will kick in.

Collision coverage pays for things like backing into a parked car, colliding with a tree, sustaining damage from a pot hole, damaging your car on a curb and scraping a guard rail. Collision is rather expensive coverage, so you might think about dropping it from older vehicles. Another option is to bump up the deductible to get cheaper collision coverage.

Uninsured/Underinsured Motorist coverage

Uninsured or Underinsured Motorist coverage protects you and your vehicle when the “other guys” either are underinsured or have no liability coverage at all. This coverage pays for hospital bills for your injuries as well as your vehicle’s damage.

Since a lot of drivers have only the minimum liability required by law, their liability coverage can quickly be exhausted. This is the reason having UM/UIM coverage is very important. Usually your uninsured/underinsured motorist coverages are identical to your policy’s liability coverage.

Coverage for liability

Liability insurance can cover damage or injury you incur to other people or property by causing an accident. It protects you from claims by other people, and does not provide coverage for damage sustained by your vehicle in an accident.

Split limit liability has three limits of coverage: per person bodily injury, per accident bodily injury, and a property damage limit. You might see limits of 100/300/100 that means you have a $100,000 limit per person for injuries, a per accident bodily injury limit of $300,000, and property damage coverage for $100,000. Alternatively, you may have a combined limit that pays claims from the same limit rather than limiting it on a per person basis.

Liability coverage protects against claims like court costs, bail bonds, repair bills for other people’s vehicles, loss of income and legal defense fees. The amount of liability coverage you purchase is up to you, but buy higher limits if possible.

Medical payments coverage and PIP

Medical payments and Personal Injury Protection insurance provide coverage for bills like X-ray expenses, dental work, prosthetic devices and EMT expenses. They can be used to fill the gap from your health insurance plan or if there is no health insurance coverage. They cover both the driver and occupants as well as any family member struck as a pedestrian. PIP is only offered in select states and may carry a deductible

Comprehensive coverage

Comprehensive insurance pays for damage OTHER than collision with another vehicle or object. You first must pay your deductible then the remaining damage will be covered by your comprehensive coverage.

Comprehensive insurance covers claims such as falling objects, fire damage, damage from getting keyed, hitting a bird and rock chips in glass. The maximum payout you’ll receive from a claim is the cash value of the vehicle, so if the vehicle is not worth much it’s probably time to drop comprehensive insurance.

Stretch your dollar

We just covered a lot of ways to lower your 1994 Ford Mustang SVT Cobra insurance rates. It’s most important to understand that the more companies you get rates for, the better your comparison will be. Consumers could even find that the best prices are with a smaller regional carrier. Regional companies may often insure only within specific states and give getter rates than their larger competitors like Allstate and Progressive.

Discount insurance is attainable online and also from your neighborhood agents, and you need to price shop both so you have a total pricing picture. Some insurance companies may not provide you the ability to get quotes online and most of the time these smaller companies sell through independent agents.

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