Lower Your 2004 Ford Five Hundred Insurance Cost

Searching for lower insurance rates for your Ford Five Hundred? Are you a victim of overpriced insurance? Trust us, you’re not alone. Drivers have multiple insurers to purchase coverage from, and although it’s nice to have multiple companies, too many choices makes it more difficult to get the best deal.

Consumers need to compare rates at least once a year because insurance rates change frequently. Even if you think you had the best deal on Five Hundred insurance on your last policy you can probably find a better price now. Forget anything you know (or think you know) about insurance because you’re about to find out the fastest way to reduce your cost while improving coverage.

Compare the Market for Insurance

Comparing insurance rates can be a daunting task if you don’t utilize the most efficient way. You can waste a lot of time driving to local insurance agents in your area, or you could save time and use online quoting for quick rates.

Most major companies take part in a program where prospective buyers only type in their quote data once, and at least one company provides a quote based on that information. This system prevents you from having to do quote requests to each company.

To compare pricing click here (opens in new window).

The single downside to pricing coverage this way is that you can’t choose which carriers you want pricing from. If you prefer to choose specific providers to request quotes from, we have a page of low cost insurance companies in your area. View list of insurance companies.

It’s up to you which method you use, but make darn sure you compare the exact same coverage information for every quote you compare. If you compare different deductibles it will be impossible to make a fair comparison for your Ford Five Hundred.

Discounts are available to cut your rates

Insuring your vehicles can cost a lot, but there could be available discounts to reduce the price significantly. Most are applied when you purchase, but a few need to be inquired about before they will apply. If they aren’t giving you every credit possible, you are throwing money away.

  • More Vehicles More Savings – Insuring multiple cars or trucks with the same company may reduce the rate for each vehicle.
  • E-sign – A few companies give back up to $50 for buying your policy on their website.
  • Student Driver Training – Require your teen driver to successfully complete driver’s ed class if it’s offered in school.
  • Claim Free – Good drivers with no accidents pay less as compared to bad drivers.
  • Driver Safety – Successfully completing a defensive driving course can save you 5% or more if your company offers it.
  • One Accident Forgiven – A few companies will forgive one accident before your rates go up as long as you don’t have any claims prior to the accident.
  • Fewer Miles Equal More Savings – Keeping the miles down on your Ford can qualify you for a substantially lower rate.

Consumers should know that most discount credits are not given to the entire policy premium. Most only cut individual premiums such as physical damage coverage or medical payments. So even though it sounds like all those discounts means the company will pay you, insurance companies aren’t that generous. But all discounts will bring down your premiums.

Car insurance companies that possibly offer these money-saving discounts include:

Before buying, ask every prospective company what discounts are available to you. Discounts may not apply in your state.

Everyone needs different coverages

When buying adequate coverage for your vehicles, there really is no “perfect” insurance plan. Your needs are not the same as everyone else’s so your insurance should reflect that These are some specific questions can help discover if you would benefit from an agent’s advice.

  • What is covered by UM/UIM coverage?
  • What is PIP insurance?
  • Is my Ford Five Hundred covered if I use it for business?
  • Are split liability limits better than a combined single limit?
  • Why does it cost so much to insure a teen driver?
  • How do I buy GAP insurance?
  • Does my policy cover me when driving someone else’s vehicle?
  • Will my vehicle be repaired with OEM or aftermarket parts?
  • Should I buy full coverage?
  • Who is covered by my policy?

If you don’t know the answers to these questions but a few of them apply, you may need to chat with an insurance agent. To find lower rates from a local agent, complete this form or go to this page to view a list of companies. It’s fast, free and can provide invaluable advice.

Car insurance coverages and their meanings

Learning about specific coverages of car insurance can help you determine appropriate coverage and the correct deductibles and limits. Policy terminology can be confusing and nobody wants to actually read their policy. Shown next are the usual coverages offered by car insurance companies.

Auto liability insurance

This coverage can cover injuries or damage you cause to people or other property that is your fault. This coverage protects you from legal claims by others, and does not provide coverage for damage to your own property or vehicle.

Coverage consists of three different limits, bodily injury per person, bodily injury per accident and property damage. You might see values of 25/50/25 which stand for a $25,000 limit per person for injuries, a per accident bodily injury limit of $50,000, and $25,000 of coverage for damaged propery. Occasionally you may see a combined limit which combines the three limits into one amount without having the split limit caps.

Liability insurance covers claims such as court costs, loss of income, legal defense fees and repair costs for stationary objects. How much liability should you purchase? That is a decision to put some thought into, but buy higher limits if possible.

Uninsured/Underinsured Motorist (UM/UIM)

This coverage protects you and your vehicle when other motorists either are underinsured or have no liability coverage at all. It can pay for injuries sustained by your vehicle’s occupants as well as your vehicle’s damage.

Due to the fact that many drivers have only the minimum liability required by law, their liability coverage can quickly be exhausted. For this reason, having high UM/UIM coverages should not be overlooked. Normally your uninsured/underinsured motorist coverages are identical to your policy’s liability coverage.

Comprehensive insurance

This coverage pays to fix your vehicle from damage caused by mother nature, theft, vandalism and other events. You need to pay your deductible first then your comprehensive coverage will pay.

Comprehensive insurance covers claims such as rock chips in glass, hitting a bird and a tree branch falling on your vehicle. The most your car insurance company will pay is the actual cash value, so if the vehicle is not worth much consider removing comprehensive coverage.

Med pay and Personal Injury Protection (PIP)

Med pay and PIP coverage kick in for expenses such as pain medications, hospital visits and EMT expenses. They are utilized in addition to your health insurance policy or if there is no health insurance coverage. It covers both the driver and occupants as well as if you are hit as a while walking down the street. PIP coverage is not an option in every state but it provides additional coverages not offered by medical payments coverage

Collision insurance

Collision coverage will pay to fix damage to your Five Hundred from colliding with another vehicle or an object, but not an animal. You first must pay a deductible and then insurance will cover the remainder.

Collision can pay for things like driving through your garage door, damaging your car on a curb, colliding with a tree, rolling your car and scraping a guard rail. Collision is rather expensive coverage, so you might think about dropping it from older vehicles. It’s also possible to choose a higher deductible to get cheaper collision coverage.