2002 Ford Five Hundred Insurance Rates

Trying to find better insurance coverage rates for your Ford Five Hundred? Purchasing cheap insurance coverage on the internet is rather challenging for beginners to comparison shopping online. With dozens of insurance companies available, how can drivers have a chance to compare every company to locate the best available price?

Consumers should take time to shop coverage around occasionally since rates tend to go up over time. Just because you had the best price for Five Hundred coverage six months ago you can probably find a better price now. There is too much inaccurate information about insurance coverage on the web, but we’re going to give you some great ways to put money back in your pocket.

If you are paying for car insurance now, you stand a good chance to be able to lower your premiums substantially using these techniques. Finding the cheapest coverage can be fairly easy. Nevertheless, drivers must comprehend how the larger insurance companies price online insurance and apply this information to your search.

Factors that can influence Ford Five Hundred insurance rates

Consumers need to have an understanding of the rating factors that help determine auto insurance rates. Knowing what controls the rates you pay enables informed choices that could result in better auto insurance rates.

  • Where you live – Residing in less populated areas has it’s advantages when insuring your vehicles. City drivers have congested traffic and longer commutes to work. Lower population translates into fewer accidents and a lower car theft rate.
  • Protect your assets with liability insurance – Liability insurance is the coverage that protects you when a jury decides you are liable for causing damage or personal injury in an accident. Liability provides legal defense which can cost thousands of dollars. Liability insurance is quite affordable compared to physical damage coverage, so buy as much as you can afford.
  • Allowing your policy to lapse raises rates – Letting your insurance expire will be a sure-fire way to trigger a rate increase. And not only will your rates increase, but not being able to provide proof of insurance might get you a steep fine or even jail time.You may then be required to submit proof of financial responsibility or a SR-22 with your state motor vehicle department.
  • Traffic violations increase rates – Drivers with clean records get better rates than bad drivers. Even one ticket may increase your cost by as much as thirty percent. If you have serious violations like hit and run, DWI or reckless driving convictions may find they need to file a proof of financial responsibility form (SR-22) with their state motor vehicle department in order to continue driving.
  • Safer occupants lowers premiums – Vehicles with good safety scores get lower rates. The safest vehicles reduce injuries and lower injury rates means lower claim amounts and lower rates for you. If your Ford Five Hundred scored better than four stars on Safercar.gov you are probably receiving a discount.
  • Do you need the policy add-ons? – There are a ton of extra coverages that you can buy if you aren’t careful. Coverages like roadside assistance, towing coverage and additional equipment coverage are some examples. These may sound like a good investment initially, but now you might not need them so get rid of them and save.

Discounts are great for lower rates

The price of auto insurance can be rather high, but you can get discounts to cut the cost considerably. Certain discounts will be triggered automatically when you get a quote, but lesser-known reductions have to be asked about prior to getting the savings.

  • One Accident Forgiven – Certain companies permit an accident before raising your premiums so long as you haven’t had any claims prior to the accident.
  • Federal Employees – Being employed by or retired from a federal job can earn a discount up to 10% for Five Hundred coverage with a few insurance companies.
  • Senior Discount – If you’re over the age of 55, you may be able to get a small decrease in premiums for Five Hundred coverage.
  • Good Student – Getting good grades can earn a discount of 20% or more. The discount lasts well after school through age 25.
  • Life Insurance Discount – Companies who offer life insurance give better rates if you take out a life insurance policy as well.
  • No Accidents – Claim-free drivers can earn big discounts when compared to accident-prone drivers.
  • Sign Online – A few companies will discount your bill up to fifty bucks for buying a policy and signing up over the internet.

Keep in mind that most of the big mark downs will not be given the the whole policy. Some only apply to the price of certain insurance coverages like comp or med pay. Just because you may think it’s possible to get free car insurance, companies wouldn’t make money that way. But any discount will bring down your premiums.

For a list of companies who offer insurance discounts, click this link.

Can you really save that much by switching?

Insurance providers like 21st Century, Allstate and State Farm consistently run ads on television and other media. They all make an identical promise about savings if you change your coverage to them. How do they all say the same thing?

All companies have a preferred profile for the type of driver that is profitable for them. For instance, a preferred risk might be profiled as between the ages of 30 and 50, a clean driving record, and drives less than 10,000 miles a year. A customer who meets those qualifications will get very good rates and is almost guaranteed to pay quite a bit less when switching companies.

Consumers who don’t measure up to these standards must pay more money which leads to business not being written. Company advertisements say “people who switch” not “everybody who quotes” save that much. That is how companies can make the claims of big savings.

This illustrates why drivers must get as many comparisons as possible. It is impossible to predict which insurance companies will fit your personal profile best.

You may need specialized coverage

When it comes to buying the right insurance coverage for your vehicles, there really is not a “best” method to buy coverage. Each situation is unique.

These are some specific questions can aid in determining whether you could use an agent’s help.

  • When would I need rental car insurance?
  • How much liability coverage do I need in my state?
  • What is high-risk coverage and where do I buy it?
  • Where can I find high-risk insurance?
  • How can I find cheaper teen driver insurance?
  • Do I need PIP (personal injury protection) coverage in my state?
  • Should I have a commercial auto policy?
  • Who is covered when they drive my 2002 Ford Five Hundred?
  • Can I get a multi-policy discount?

If you can’t answer these questions but a few of them apply, then you may want to think about talking to an agent. If you don’t have a local agent, take a second and complete this form.

Car insurance coverages for a 2002 Ford Five Hundred

Understanding the coverages of your policy can be of help when determining appropriate coverage for your vehicles. Policy terminology can be impossible to understand and coverage can change by endorsement.

Collision coverage

This covers damage to your Five Hundred resulting from colliding with an object or car. You will need to pay your deductible then your collision coverage will kick in.

Collision can pay for claims like scraping a guard rail, rolling your car and sideswiping another vehicle. Paying for collision coverage can be pricey, so you might think about dropping it from vehicles that are older. It’s also possible to bump up the deductible to get cheaper collision coverage.

Comprehensive coverages

This coverage pays to fix your vehicle from damage from a wide range of events other than collision. You first have to pay a deductible then your comprehensive coverage will pay.

Comprehensive coverage protects against things such as damage from getting keyed, a broken windshield and damage from flooding. The most you’ll receive from a claim is the ACV or actual cash value, so if your deductible is as high as the vehicle’s value consider removing comprehensive coverage.

Liability car insurance

Liability insurance protects you from damage that occurs to other’s property or people. This coverage protects you against other people’s claims. It does not cover your injuries or vehicle damage.

Liability coverage has three limits: bodily injury for each person, bodily injury for the entire accident, and a limit for property damage. Your policy might show limits of 25/50/25 which means $25,000 bodily injury coverage, $50,000 for the entire accident, and property damage coverage for $25,000. Occasionally you may see one limit called combined single limit (CSL) which provides one coverage limit and claims can be made without the split limit restrictions.

Liability coverage pays for things like attorney fees, court costs, bail bonds, emergency aid and funeral expenses. How much liability should you purchase? That is your choice, but you should buy as much as you can afford.

Uninsured and underinsured coverage

Your UM/UIM coverage protects you and your vehicle when the “other guys” either have no liability insurance or not enough. Covered claims include medical payments for you and your occupants and also any damage incurred to your Ford Five Hundred.

Due to the fact that many drivers have only the minimum liability required by law, their limits can quickly be used up. So UM/UIM coverage is a good idea. Most of the time your uninsured/underinsured motorist coverages do not exceed the liability coverage limits.

Coverage for medical payments

Medical payments and Personal Injury Protection insurance pay for expenses for X-ray expenses, hospital visits and pain medications. They are often used in conjunction with a health insurance policy or if there is no health insurance coverage. Coverage applies to all vehicle occupants and will also cover any family member struck as a pedestrian. Personal Injury Protection is not an option in every state and gives slightly broader coverage than med pay

Final considerations

We just covered a lot of techniques to reduce 2002 Ford Five Hundred insurance prices online. The key concept to understand is the more rate comparisons you have, the better likelihood of reducing your rate. Consumers could even find that the most savings is with a small local company.

As you restructure your insurance plan, it’s very important that you do not skimp on critical coverages to save a buck or two. There have been many cases where an insured dropped uninsured motorist or liability limits only to regret at claim time they didn’t purchase enough coverage. Your strategy should be to purchase plenty of coverage for the lowest price.

Lower-priced insurance is available on the web in addition to many insurance agents, so you should be comparing quotes from both in order to have the best price selection to choose from. A few companies do not provide online quoting and most of the time these small insurance companies sell through independent agents.

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