Do you want to save money by buying more affordable Ford Mustang insurance in Detroit? Finding low-cost insurance for your Ford Mustang in Michigan could be an all-consuming task, but you can learn our auto insurance buying tips to find lower rates. There are more efficient ways to find auto insurance online and we’ll show you the best way to compare rates for your Ford and find the cheapest rates from both online companies and Detroit agents.
It is always a good idea to do rate comparisons on a regular basis because prices are adjusted regularly by insurance companies. Even if you think you had the best deal on Ford Mustang insurance in Detroit last year there may be better deals available now. Forget anything you know (or think you know) about auto insurance because I’m going to teach you how to use the internet to find lower rates on auto insurance.
Choosing the most cost-effective insurance policy in Detroit is really not that difficult. If you have a policy now or want to find a cheaper company, you can learn to reduce premiums and still get good coverage. Shoppers just need to use the most effective way to compare rate quotes from multiple carriers.
Best Ford Mustang insurance price quotes in Michigan
The companies in the list below provide free quotes in Michigan. If you want the best auto insurance in Detroit, we suggest you click on several of them to find the most competitive auto insurance rates.
Insurance coverage details
The coverage table displayed next covers a range of insurance rates for Ford Mustang models. Having a better understanding of how insurance prices are calculated can assist in making smart choices when buying a policy.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|Mustang 2-Dr Convertible||$284||$654||$726||$42||$218||$1,924||$160|
|Mustang 2-Dr Coupe||$284||$654||$906||$54||$272||$2,170||$181|
|Mustang GT 2-Dr Convertible||$320||$752||$726||$42||$218||$2,058||$172|
|Mustang GT 2-Dr Coupe||$320||$752||$906||$54||$272||$2,304||$192|
|Mustang Shelby GT500 2-Dr Convertible||$356||$950||$726||$42||$218||$2,292||$191|
|Mustang Shelby GT500 2-Dr Coupe||$392||$1048||$906||$54||$272||$2,672||$223|
|Get Your Own Custom Quote Go|
Table data assumes married female driver age 40, no speeding tickets, no at-fault accidents, $1000 deductibles, and Michigan minimum liability limits. Discounts applied include claim-free, multi-policy, safe-driver, multi-vehicle, and homeowner. Price estimates do not factor in specific location information which can increase or decrease insurance rates noticeably.
The diagram below highlights how deductible selection and can impact Ford Mustang insurance prices for each different age category. The rates are based on a single male driver, comp and collision included, and no discounts are taken into consideration.
Cost of full coverage
The chart below shows the difference between Ford Mustang annual premium costs with full physical damage coverage compared to only buying liability only. The rates are based on no claims or driving violations, $500 deductibles, drivers are single, and no discounts are factored in.
When to stop buying comprehensive and collision coverage
There is no definitive rule to drop full coverage, but there is a general guideline you can use. If the annual cost of having full coverage is 10% or more of replacement cost minus your deductible, then you may need to consider dropping full coverage.
For example, let’s assume your Ford Mustang claim settlement value is $8,000 and you have $1,000 policy deductibles. If your vehicle is severely damaged, the most you would get paid by your company is $7,000 after paying your policy deductible. If premiums are more than $700 a year for full coverage, then you might want to consider buying only liability coverage.
There are some circumstances where eliminating full coverage is not a good idea. If you still owe a portion of the original loan, you have to keep full coverage in order to keep the loan. Also, if you don’t have enough money to buy a different vehicle in the even your car is totaled, you should keep full coverage on your policy.
Verify you’re receiving every discount
Insurance is neither fun to buy or cheap, but you may qualify for discounts that many consumers don’t even know exist. Some trigger automatically when you get a quote, but once in a while a discount must be asked about before being credited.
- Auto/Life Discount – Select insurance companies reward you with a lower price if you buy a life insurance policy as well.
- Distant College Student Discount – Children who attend college more than 100 miles from Detroit and do not have a car may qualify for this discount.
- Safe Drivers – Accident-free drivers can save up to 40% or more on their Detroit car insurance quote compared to accident prone drivers.
- Theft Deterrent Discount – Vehicles that have factory alarm systems and tracking devices can help prevent theft and that can save you a little bit as well.
- More Vehicles More Savings – Insuring primary and secondary vehicles with the same insurance company qualifies for this discount.
- 55 and Retired – Mature drivers can get a small decrease in premiums.
- Safety Restraint Discount – Drivers who require all vehicle occupants to use a seat belt can save a little off PIP or medical payments premium.
- New Car Discount – Buying a new car instead of a used Mustang can save up to 30% since newer vehicles have better safety ratings.
- Discounts for Federal Employees – Active or former government employment could cut as much as 10% off with certain companies.
Don’t be shocked that most of the big mark downs will not be given to your bottom line cost. The majority will only reduce specific coverage prices like physical damage coverage or medical payments. So even though they make it sound like adding up those discounts means a free policy, you won’t be that lucky.
The illustration below shows the comparison of Ford Mustang premium costs with and without some available policy discounts. The prices are based on a female driver, no claims or violations, Michigan state minimum liability limits, full coverage, and $500 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with marriage, homeowner, claim-free, multi-policy, safe-driver, and multi-car discounts applied.
Popular insurance companies and some of their more popular discounts are detailed below.
- American Family offers premium reductions for early bird, TimeAway discount, air bags, bundled insurance, and good student.
- Nationwide may have discounts that include multi-policy, accident-free, Farm Bureau membership, easy pay, family plan, and business or organization.
- MetLife offers discounts including multi-policy, good driver, claim-free, good student, and accident-free.
- 21st Century has savings for air bags, defensive driver, theft prevention, teen driver, and automatic seat belts.
- Farmers Insurance has discounts for distant student, pay in full, multi-car, bundle discounts, and homeowner.
- Allstate may include discounts for premier discount, auto/life discount, anti-lock brakes, eSmart discount, and premier plus.
It’s a good idea to ask each company to apply every possible discount. A few discounts might not be offered in Detroit. If you would like to see a list of insurance companies that offer the discounts shown above in Michigan, click this link.
Why You Might Pay Higher Rates in Detroit
When buying car insurance it’s important to understand the rating factors that play a part in calculating the rates you pay for car insurance. If you have some idea of what controls the rates you pay, this allows you to make educated decisions that may result in lower premium levels.
Shown below are a partial list of the pieces utilized by car insurance companies to help set your rates.
Car insurance rates and age – Inexperience drivers are proven to be careless and easily distracted behind the wheel so they pay higher car insurance rates. Having to add a first-time driver to your car insurance policy will cause a huge premium hike. Older drivers are viewed as being more responsible, statistically cause fewer accidents, and tend to be get fewer driving tickets.
The next chart is based on a single driver, full coverage with $100 deductibles, and no discounts or violations.
Safer vehicles mean better premiums – Vehicles with good safety scores tend to have lower insurance rates. Vehicles engineered for safety protect occupants better and fewer injuries means less claims paid passed on to you as lower rates.
Raise comp and collision deductibles and save – Comprehensive and collision coverage deductibles define the amount you are willing to pay out-of-pocket if a claim is determined to be covered. Insurance for physical damage to your car, also called comprehensive and collision insurance, protects your car from damage. Some examples of claims that would be covered are colliding with a stationary object, damage caused by hail, and having a roll-over accident. The more expense you’re willing to pay, the lower your rates will be.
Prices and your address – Residing in small towns and rural areas has definite advantages when buying car insurance. Fewer people corresponds to lower accident rates. City drivers have more traffic problems and longer commute times. Higher commute times statistically corresponds to a higher accident and claim rate.
Car insurance claims cost money – If you frequently file small claims, you can definitely plan on increased rates or even have your policy non-renewed. Companies in Michigan provide cheaper rates to policyholders who file claims infrequently. Your insurance policy is designed for larger claims.
Does auto insurance cost less for women? – Over the last 30 years, statistics show that men are more aggressive behind the wheel. That doesn’t necessarily mean that women are better drivers. Both sexes get in accidents at a similar rate, but men have costlier accidents. Not only are claims higher, but men get ticketed for serious violations such as DWI and reckless driving.
The diagram below shows the difference between Ford Mustang insurance rates for male and female drivers. Data assumes no claims or driving violations, full coverage, $1,000 deductibles, drivers are not married, and no additional discounts are factored in.
Annual mileage and car insurance rates – The higher the miles on your Ford in a year’s time the more you’ll pay to insure your vehicle. Many insurance companies charge rates based upon how you use the vehicle. Cars that have low annual miles qualify for better rates as compared to vehicles used primarily for driving to work. Incorrect rating for your Mustang may be costing you higher rates. Ask your agent if your car insurance policy is showing the right rating data.
Drive a fast vehicle and pay more – The make and model of the car, truck or SUV you are insuring makes a substantial difference in your premium level. The lowest premiums are generally reserved for the lowest performance passenger cars, but the final cost of insurance is determined by many other factors.
The data below assumes a single male driver age 40, full coverage with $250 deductibles, and no discounts or violations. The chart compares Ford Mustang car insurance rates compared to other models of vehicles that have a range of performance rating factors.
Ford Mustang claim data – Insurers include the past claim trends for vehicles when they file their rates in each state. Vehicles that historically have higher prevalence or dollar amount of losses will have a higher premium rate. The information below illustrates the collected loss data for Ford Mustang vehicles.
For each policy coverage, the statistical loss for all vehicles, regardless of make, model or trim level, is set at 100. Percentage values below 100 indicate a favorable loss history, while percentage values above 100 indicate more frequent claims or tendency to have larger claims.
|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|
Empty fields indicate not enough data collected
Statistics from IIHS.org for 2013-2015 Model Years
When in doubt talk to an agent
When it comes to buying a policy, there really is no perfect coverage plan. Coverage needs to be tailored to your specific needs and your auto insurance should be unique as well.
Here are some questions about coverages that can aid in determining whether you will benefit from professional help.
- Am I covered by my employer’s commercial auto policy when driving my personal car for business?
- Do I need to call my car insurance company before buying a new car?
- Am I covered by my spouse’s policy after a separation?
- When should I have rental car coverage?
- What is an adequate liability insurance limit?
- What are the liability requirements in my state?
- Do I have coverage when using my vehicle for my home business?
- Is a blown tire covered by insurance?
If you’re not sure about those questions but a few of them apply then you might want to talk to an agent. If you want to speak to an agent in your area, simply complete this short form or click here for a list of auto insurance companies in your area. It is quick, free and can help protect your family.
Local Detroit insurance agencies
Some people just want to talk to a local agent and that is not a bad decision Good agents are very good at helping people manage risk and give you someone to call. An additional benefit of price shopping on the web is you can get cheaper prices and also buy local.
To help locate an agent, after submitting this form (opens in new window), your information is immediately sent to local insurance agents in Detroit that can give you free Detroit car insurance quotes for your business. It simplifies rate comparisons since you won’t have to find an agent since price quotes are sent instantly to you. If you want to get a rate quote for a specific company, don’t hesitate to go to their quote page and fill out their quote form.
Selecting an insurer should depend on more than just a low price. Agents should be asked these questions:
- Is assistance available after office hours?
- If your car is totaled, how to they determine the replacement cost?
- Will you work with the agent or an assistant?
- Does the agent help file claims?
- Does the agency support the community they serve?
- Can they help ensure a fair claim settlement?
- Are they paid to recommend certain coverages?
- Do they carry Errors and Omissions coverage?
If you prefer to buy insurance from a reliable insurance agency, you should know the different types of agencies and how they can service your needs differently. Detroit agents can be described as either exclusive agents or independent agents. Either can insure your vehicles properly, but it’s good to learn the differences since it can impact the selection process.
Agents that choose to be exclusive are contracted to one company like Farmers Insurance, State Farm, Allstate, and AAA. They are unable to compare rates from other companies so you might not find the best rates. Exclusive agents are very knowledgeable on their products and sales techniques and that can be a competitive advantage. Drivers often buy insurance from these agents mostly because of the prominence of the brand rather than low price.
Below is a short list of exclusive insurance agents in Detroit who may provide you with price quotes.
- Kenya Wells – State Farm Insurance Agent
20021 Kelly Rd – Detroit, MI 48225 – (313) 822-5948 – View Map
- PD Dandnaik – State Farm Insurance Agent
W, 7725 Vernor Hwy – Detroit, MI 48209 – (313) 554-1500 – View Map
- Angela Hughes – State Farm Insurance Agent
14511 W McNichols Rd – Detroit, MI 48235 – (313) 862-7800 – View Map
Independent Insurance Agencies
Independent agencies can sell policies from many different companies so they can insure your vehicles with a variety of different insurance companies and find you cheaper rates. If you want to switch companies, the agent simply finds a different carrier which is easy for the insured. If you need cheaper insurance rates, it’s a good idea to include several independent agencies to have the best price comparison. Most can insure with mutual insurance companies that may provide cheaper insurance rates.
Listed below are independent insurance agencies in Detroit willing to provide price quotes.
- Thomas L Whatley Agency Inc
14710 Puritan Ave – Detroit, MI 48227 – (313) 272-5955 – View Map
- Advasure Insurance
13600 W 8 Mile Rd C – Detroit, MI 48205 – (313) 521-0300 – View Map
- Dave Gilead Insurance Agency
18323 W McNichols Rd – Detroit, MI 48219 – (313) 533-3220 – View Map
If you get good answers to any questions you have and an acceptable price quote, most likely you have located an insurance agent that is reputable and can service your policy. But keep in mind you can always terminate coverage whenever you want so never assume that you are obligated to any specific agency indefinitely.
You can find affordable coverage
While you’re price shopping online, it’s a bad idea to sacrifice coverage to reduce premiums. In too many instances, someone dropped full coverage only to regret at claim time they didn’t purchase enough coverage. The aim is to buy the best coverage you can find for the lowest price while not skimping on critical coverages.
Some insurance providers do not provide the ability to get quotes online and these smaller companies sell through local independent agents. Budget-friendly insurance in Detroit is definitely available online and also from your neighborhood Detroit agents, and you should be comparing both in order to have the best price selection to choose from.
Steps to saving money on Ford Mustang insurance in Detroit
The preferred way to get more affordable Ford Mustang insurance in Detroit is to compare prices annually from providers in Michigan. You can compare prices by following these guidelines.
- First, take a few minutes and learn about how companies price auto insurance and the modifications you can make to keep rates down. Many factors that cause high rates such as traffic citations, accidents, and a less-than-favorable credit score can be controlled by paying attention to minor details.
- Second, compare rates from direct carriers, independent agents, and exclusive agents. Exclusive and direct companies can only quote rates from a single company like GEICO or State Farm, while independent agents can quote rates from multiple insurance companies.
- Third, compare the new rate quotes to your existing policy to see if a cheaper price is available. If you find a better price and switch companies, ensure there is no coverage lapse between policies.
- Fourth, give proper notification to your current agent or company to cancel the current policy. Submit the required down payment along with the signed application to the new insurer. Once the paperwork is finalized, place the new certificate of insurance in an accessible location in your vehicle.
An essential thing to point out is to make sure you’re comparing the same liability limits and deductibles on every price quote and and to get rate quotes from as many companies as you can. Doing this guarantees a level playing field and a better comparison of the market.
Additional information can be found at these links:
- Reducing Your Risks in a Car Crash Video (iihs.org)
- Who Has the Cheapest Car Insurance for Good Drivers in Detroit? (FAQ)
- Car Insurance: When not to Skimp (BankRate.com)
- Help Your Teen Be a Better Driver (State Farm)
- What is Gap Insurance? (Insurance Information Institute)