It’s safe to conclude that auto insurance companies don’t want you to look for cheaper rates. Consumers who compare other rates are highly likely to switch to a new company because they have good chances of finding lower prices. A study discovered that consumers who faithfully checked for cheaper rates saved about $865 annually compared to those who never shopped for cheaper rates.
If finding the cheapest price on Ford Mustang insurance is your objective, then understanding how to choose a company and compare coverages can help you succeed in finding affordable rates.
It takes a little time, but the best way to find affordable quotes for car insurance rates is to do an annual price comparison from different companies in Baltimore.
Step 1: Try to understand policy coverages and the things you can control to drop your rates. Many policy risk factors that result in higher prices such as multiple speeding tickets and bad credit can be amended by making small lifestyle or driving habit changes.
Step 2: Quote rates from exclusive agents, independent agents, and direct providers. Exclusive and direct companies can provide rates from one company like GEICO and Allstate, while agents who are independent can give you price quotes from multiple insurance companies.
Step 3: Compare the new rate quotes to your current policy to see if switching to a new carrier will save money. If you find a lower rate and buy the policy, make sure coverage is continuous and does not lapse.
The key thing to know about shopping around is to use similar limits and deductibles on each quote request and and to look at every company you can. This guarantees an apples-to-apples comparison and the most accurate and complete price analysis.
If you currently have a car insurance policy, you will be able to cut your premiums using the concepts you’re about to learn. Finding quotes for the best-priced insurance policy in Baltimore is not as difficult as people think. Nevertheless, Maryland consumers must understand how big insurance companies determine what you pay and use it to your advantage.
Do you qualify for discounts on Ford Mustang insurance in Baltimore?
Car insurance companies don’t always list all possible discounts in an easy-to-find place, so we researched some of the best known and the more hidden credits that you can use to lower your rates.
- Online Discount – Some of the larger companies may give you up to $50 for buying your policy on the web.
- Defensive Driver – Passing a course that instructs on driving safety could cut 5% off your bill if your company offers it.
- Federal Employees – Federal government employees could provide a small rate reduction with certain companies.
- Switch and Save Discount – A few companies allow discounts for switching to them before your current Mustang insurance policy expires. It could save around 10% when you buy Baltimore auto insurance online.
- Good Student – A discount for being a good student can save 20 to 25%. This discount can apply until age 25.
- Braking Control Discount – Cars and trucks with ABS braking systems or traction control can reduce accidents and qualify for as much as a 10% discount.
- Drive Less and Save – Maintaining low annual mileage may enable drivers to earn cheaper premium rates.
A little note about advertised discounts, many deductions do not apply to the overall cost of the policy. Some only apply to the cost of specific coverages such as comprehensive or collision. So when the math indicates all the discounts add up to a free policy, car insurance companies aren’t that generous. But all discounts will lower your car insurance premiums.
The chart below compares Ford Mustang insurance costs with and without discounts applied to the policy premium. The premium estimates are based on a male driver, no accidents, no driving violations, Maryland state minimum liability limits, full coverage, and $1,000 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with safe-driver, marriage, multi-policy, claim-free, multi-car, and homeowner discounts applied.
To locate insurance companies that have a full spectrum of discounts in Baltimore, click this link.
Most of the larger companies give insurance quotes on the web. Obtaining pricing for Ford Mustang insurance in Baltimore can be done by anyone because it’s just a matter of typing in your personal and coverage information on the page. After the form is submitted, the quote system will obtain reports for credit and driving violations and returns a price based on the data you entered.
This makes it simple to compare prices and it’s also necessary to do this in order to get lower-cost insurance pricing.
To quickly fill out one form to compare multiple rates now, visit the companies below or click here to submit a quote request to multiple companies at once. If you currently have coverage, we recommend you input deductibles and limits as close as possible to your current policy. This ensures you’re receiving rate comparison quotes using the exact same coverages.
The auto insurance companies shown below are our best choices to provide free rate quotes in Maryland. If you want the best cheap car insurance in MD, it’s highly recommended you visit two to three different companies to get a more complete price comparison.
Ford Mustang insurance rate analysis
The premium information displayed next outlines detailed analysis of insurance costs for Ford Mustang models. Having a good understanding how insurance prices are figured can benefit drivers when making smart choices when comparing insurance quotes.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| Mustang 2-Dr Convertible | $242 | $518 | $382 | $22 | $114 | $1,278 | $107 |
| Mustang 2-Dr Coupe | $242 | $518 | $478 | $28 | $142 | $1,408 | $117 |
| Mustang GT 2-Dr Convertible | $272 | $596 | $382 | $22 | $114 | $1,386 | $116 |
| Mustang GT 2-Dr Coupe | $272 | $596 | $478 | $28 | $142 | $1,516 | $126 |
| Mustang Shelby GT500 2-Dr Convertible | $304 | $752 | $382 | $22 | $114 | $1,574 | $131 |
| Mustang Shelby GT500 2-Dr Coupe | $334 | $830 | $478 | $28 | $142 | $1,812 | $151 |
| Get Your Own Custom Quote Go | |||||||
Table data represents married female driver age 50, no speeding tickets, no at-fault accidents, $250 deductibles, and Maryland minimum liability limits. Discounts applied include claim-free, multi-policy, safe-driver, multi-vehicle, and homeowner. Table data does not factor in specific Baltimore garaging location which can alter auto insurance rates substantially.
Policy deductibles
One of the more difficult decisions when buying auto insurance is which deductible level should you buy. The comparison tables below help summarize how much more you’ll pay between high and low physical damage deductibles. The first rate table uses a $100 deductible for physical damage and the second rate chart uses a $500 deductible.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| Mustang 2-Dr Convertible | $350 | $744 | $406 | $24 | $122 | $1,671 | $139 |
| Mustang 2-Dr Coupe | $350 | $744 | $508 | $30 | $152 | $1,809 | $151 |
| Mustang GT 2-Dr Convertible | $394 | $856 | $406 | $24 | $122 | $1,827 | $152 |
| Mustang GT 2-Dr Coupe | $394 | $856 | $508 | $30 | $152 | $1,965 | $164 |
| Mustang Shelby GT500 2-Dr Convertible | $440 | $1082 | $406 | $24 | $122 | $2,099 | $175 |
| Mustang Shelby GT500 2-Dr Coupe | $484 | $1194 | $508 | $30 | $152 | $2,393 | $199 |
| Get Your Own Custom Quote Go | |||||||
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| Mustang 2-Dr Convertible | $256 | $502 | $406 | $24 | $122 | $1,310 | $109 |
| Mustang 2-Dr Coupe | $256 | $502 | $508 | $30 | $152 | $1,448 | $121 |
| Mustang GT 2-Dr Convertible | $288 | $578 | $406 | $24 | $122 | $1,418 | $118 |
| Mustang GT 2-Dr Coupe | $288 | $578 | $508 | $30 | $152 | $1,556 | $130 |
| Mustang Shelby GT500 2-Dr Convertible | $320 | $730 | $406 | $24 | $122 | $1,602 | $134 |
| Mustang Shelby GT500 2-Dr Coupe | $354 | $806 | $508 | $30 | $152 | $1,850 | $154 |
| Get Your Own Custom Quote Go | |||||||
Table data assumes married male driver age 30, no speeding tickets, no at-fault accidents, and Maryland minimum liability limits. Discounts applied include multi-vehicle, homeowner, multi-policy, safe-driver, and claim-free. Prices do not factor in vehicle location which can alter insurance rates significantly.
Based on this data, using a $100 deductible will cost you about $35 more each month or $420 annually than choosing the higher $500 deductible. Since the policyholder would be required to pay $400 more to file a claim with a $500 deductible as compared to a $100 deductible, if you go at a minimum 11 months between claims, you would save money by going with a higher deductible.
Price comparison of only insuring for liability
The chart below shows the comparison of Ford Mustang yearly insurance costs with and without physical damage coverage. The costs are based on a clean driving record, no at-fault accidents, $500 deductibles, drivers are single, and no other discounts are factored in.
When to buy liability coverage only
There is no set guideline of when to stop paying for physical damage coverage on your policy, but there is a guideline you can use. If the annual cost of having full coverage is about 10% or more of replacement cost minus your deductible, then you might want to consider buying only liability coverage.
For example, let’s say your Ford Mustang replacement cost is $9,000 and you have $1,000 physical damage deductibles. If your vehicle is totaled in an accident, the most your company would pay you is $8,000 after paying your policy deductible. If premium cost is more than $800 a year for comprehensive and collision coverage, then you may want to consider only buying liability coverage.
There are a few situations where dropping full coverage is not in your best interest. If you haven’t satisfied your loan, you are required to maintain full coverage to protect the lienholder’s interest in the vehicle. Also, if your emergency fund is not enough to purchase a different vehicle if your current one is totaled, you should keep full coverage.
How You Can Control Ford Mustang Insurance Prices
An important part of buying insurance is that you know some of the things that go into determining insurance rates. When you understand what controls the rates you pay, this allows you to make educated decisions that can help you get cheaper rates. Many different elements are part of the calculation when you get a price on insurance. Some of the criteria are obvious like an MVR report, although others are less obvious such as your marital status or how safe your car is.
The items below are some of the most common factors used by insurance companies to determine rates.
Costs are impacted by vehicle performance – The performance of the vehicle you need to insure makes a huge difference in the rate you pay. Lower performance four cylinder passenger cars generally have the cheapest insurance rates, but there are many factors that impact the final cost.
The following data uses these assumptions: single male driver age 40, full coverage with $250 deductibles, and no discounts or violations. It compares Ford Mustang rates compared to other vehicles that have different performance rating factors.
Decrease rates by maintaining coverage – Driving with no insurance is a big no-no and your next policy will cost more because you let your insurance expire. Not only will you pay higher rates, getting caught without coverage may earn you a hefty fine and possibly a revoked license.
Insurance companies don’t like frequent policy claims – Car insurance companies in Maryland award most affordable rates to insureds who are claim-free. If you file a lot of claims you can pretty much guarantee increased rates or even have your policy non-renewed. Insurance coverage is meant to be used in the event of the large, substantial claims.
Where you call home plays a part – Residing in small towns and rural areas can be a good thing when insuring your vehicles. Drivers who live in large cities have to deal with more road rage incidents and longer commute times. Lower population translates into fewer accident claims in addition to fewer liability claims.
Discounts for married couples – Walking down the aisle actually saves money on your insurance policy. It may mean you are more responsible and it’s statistically proven that married couples file fewer claims.
Youthful driver insurance rates – Mature drivers are proven to be safer behind the wheel, are lower risk to insure, and tend to be get fewer driving tickets. Inexperience drivers have a tendency to get distracted easily in a vehicle and because of this, their insurance rates are much higher.
The chart below assumes a single driver, full coverage with $100 deductibles, and no discounts or violations.
Gender impacts prices – Statistics demonstrate women are more cautious behind the wheel. However, this does not mean women are better drivers. Males and females get in accidents at about the same rate, but men cause more damage and cost insurance companies more money. Men also have more aggressive citations like DUI and reckless driving. Male drivers age 16 to 19 generally have the highest accident percentage so it costs more to insure them.
The example below illustrates the difference between Ford Mustang insurance costs for male and female drivers. The data is based on no violations or accidents, comprehensive and collision coverage, $250 deductibles, single marital status, and no additional discounts are factored in.
Careless drivers pay higher prices – Even a single ticket could increase your next policy renewal forty percent or more. Careful drivers receive lower rates than bad drivers. Drivers who have received serious violations such as hit and run, DWI or reckless driving convictions might be required by their state to file a proof of financial responsibility form (SR-22) to the state department of motor vehicles in order to legally drive.
The information below demonstrates how citations and at-fault collisions impact Ford Mustang auto insurance costs for different age groups. The information is based on a single male driver, full physical damage coverage, $100 deductibles, and no discounts are taken into consideration.
Ford Mustang insurance claim data – Companies include the past claim history for a vehicle when they set coverage costs for each model. Models that the statistics show to have a trend towards higher claims will have increased rates. The table shown below demonstrates the historical insurance loss data for Ford Mustang vehicles.
For each policy coverage, the statistical loss for all vehicles, regardless of manufacturer or model, is a value of 100. Numbers under 100 suggest a positive loss record, while percentages above 100 indicate more frequent losses or statistically larger losses.
| 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
You may need specialized auto insurance coverage
When buying coverage, there really is no one size fits all plan. Each situation is unique and a cookie cutter policy won’t apply. These are some specific questions can help discover whether or not you may require specific advice.
- Should I rate my Ford Mustang as pleasure use or commute?
- At what point should I drop full coverage?
- What is roadside assistance coverage?
- Do I need motorclub coverage?
- Is my teenager covered with friends in the car?
- Does my liability insurance cover pulling a trailer or camper?
- What is an adequate liability insurance limit?
- What is high-risk coverage and where do I buy it?
If you’re not sure about those questions, you may need to chat with an insurance agent. If you want to speak to an agent in your area, take a second and complete this form or go to this page to view a list of companies.
Compare rates but still have a local neighborhood Baltimore car insurance agent
A small number of people just prefer to get professional advice from a licensed agent and that is OK! One of the benefits of comparing rate quotes online is the fact that you can find the lowest rates and still buy from a local agent.
Once you complete this form (opens in new window), your information is submitted to local insurance agents in Baltimore who will give competitive quotes for your coverage. You never need to even leave your home as quotes are delivered immediately to you. You can get cheaper auto insurance rates AND a local agent. If you wish to get a comparison quote from a specific insurance company, you just need to navigate to their website and fill out the quote form the provide.
Choosing the best insurer should include more criteria than just the bottom line cost. Ask your prospective agent these questions:
- What company holds the largest book of business for them?
- Do they have advanced training designations such as CPCU, AAI, AIC, or CIC?
- Will high miles depreciate repair valuations?
- How much can you save by raising your physical damage deductibles?
- Are aftermarket or OEM parts used to repair vehicles?
- Will one accident increase rates?
- Are claims handled at the agent’s location?
- Is insurance their full-time profession?
Pick the best auto insurance agent in Baltimore for you
When narrowing the list to find a reputable insurance agent or broker, it helps to know the two types of agencies and how they can write your policy. Agents are either exclusive or independent agents depending on their company appointments.
Exclusive Agents
Exclusive agencies normally can only provide a single company’s rates and examples are Farmers Insurance and State Farm. They usually cannot compare rates from other companies so they really need to provide good service. Exclusive agents are usually quite knowledgeable on sales techniques and that allows them to sell at a higher price point. Many people purchase coverage from exclusives mostly because of loyalty to the company rather than low rates.
Shown below are Baltimore exclusive insurance agencies willing to provide comparison quotes.
- Joe Lawton – State Farm Insurance Agent
9008 Harford Rd – Baltimore, MD 21234 – (410) 665-0243 – View Map - Allstate Insurance: Shanda Hayden
7200 Eastern Ave a – Baltimore, MD 21224 – (410) 282-7863 – View Map - Mimi Brown – State Farm Insurance Agent
911 S Lakewood Ave – Baltimore, MD 21224 – (410) 878-0232 – View Map
Independent Auto Insurance Agencies
These type of agents do not sell for just one brand so they can insure your vehicles amongst many companies and find you the best rates. If prices rise, your agent can switch companies and you can keep the same agent. If you are comparing auto insurance prices, you will want to compare prices from multiple independent agents to get the best comparison. They also have the ability to place coverage with small mutual carriers which could offer lower prices.
Listed below is a list of independent agents in Baltimore who can help you get price quote information.
- Luray Insurance of Baltimore
1726 Reisterstown Rd #220 – Baltimore, MD 21208 – (410) 602-2636 – View Map - Ugele Insurance
408 E 25th St – Baltimore, MD 21218 – (410) 366-6566 – View Map - Morgan Smith Insurance Agency
847 W 36th St – Baltimore, MD 21211 – (410) 889-9290 – View Map
Once you have received acceptable answers and a good coverage price, chances are good that you have found an insurance agency that can be relied on to provide auto insurance coverage. Just keep in mind policyholders can terminate your policy whenever you wish so don’t assume that you are obligated to any specific agency for a certain time period.
Insuring your vehicle just makes sense
Despite the potentially high cost of Ford Mustang insurance, paying for car insurance serves several important purposes.
First, just about all states have minimum mandated liability insurance limits which means you are required to carry a minimum amount of liability insurance if you want to drive legally. In Maryland these limits are 30/60/15 which means you must have $30,000 of bodily injury coverage per person, $60,000 of bodily injury coverage per accident, and $15,000 of property damage coverage.
Second, if you bought your vehicle with a loan, most lenders will make it a condition of the loan that you have physical damage coverage to guarantee their interest in the vehicle. If you default on your policy, the bank may insure your Ford at a much higher rate and force you to pay a much higher amount than you were paying before.
Third, insurance safeguards both your assets and your Ford. Insurance will also pay for all forms of medical expenses for yourself as well as anyone injured by you. Liability insurance, one of your policy coverages, also covers legal expenses if you are named as a defendant in an auto accident. If you receive damage to your vehicle caused by a storm or accident, comprehensive and/or collision insurance will pay to repair the damage.
The benefits of having insurance outweigh the cost, particularly for liability claims. According to a recent study, the average American driver is wasting up to $750 every year so smart consumers compare quotes each time the policy renews to save money.
More comparisons equals cheap rates
Low-cost Ford Mustang insurance in Baltimore can be found online as well as from insurance agents, and you need to comparison shop both in order to have the best chance of saving money. There are still a few companies who don’t offer online price quotes and many times these smaller companies provide coverage only through local independent agents.
We just showed you many ideas to lower your Ford Mustang insurance premium rates in Baltimore. The key concept to understand is the more price quotes you have, the better chance you’ll have of finding cheaper Baltimore auto insurance quotes. You may even discover the most savings is with a small local company. Regional companies may cover specific market segments cheaper than their larger competitors like State Farm, GEICO and Nationwide.
Even more information can be read by following these links:
- Safety Belts FAQ (iihs.org)
- Who Has Cheap Car Insurance for a Honda Accord in Baltimore? (FAQ)
- Who Has the Cheapest Auto Insurance Rates for Government Employees in Baltimore? (FAQ)
- How Much are Auto Insurance Quotes for a Ford Fusion in Baltimore? (FAQ)
- Who Has the Cheapest Auto Insurance Quotes for Retired Military in Baltimore? (FAQ)
- Who Has the Cheapest Baltimore Auto Insurance Quotes for a Nissan Altima? (FAQ)
- What Car Insurance is Cheapest for a Toyota Corolla in Baltimore? (FAQ)
- Who Has Cheap Baltimore Auto Insurance Rates for Hybrid Vehicles? (FAQ)
- How Much Auto Coverage do I Need? (Insurance Information Institute)
- Child Safety FAQ (iihs.org)
- Teen Driving and Texting (State Farm)