The best way to get low-cost auto insurance rates is to compare prices at least once a year from providers that sell auto insurance in Boston. You can compare rates by completing these steps.
Step 1: Read about how insurance companies determine prices and the changes you can make to keep rates low. Many rating criteria that result in higher rates such as traffic violations and an imperfect credit history can be eliminated by paying attention to minor details.
Step 2: Compare price quotes from exclusive agents, independent agents, and direct providers. Exclusive and direct companies can give quotes from a single company like GEICO and State Farm, while independent agents can provide rate quotes from many different companies. Begin your rate comparison
Step 3: Compare the new rate quotes to the price on your current policy to see if you can save by switching companies. If you find a lower rate, make sure there is no lapse between the expiration of your current policy and the new one.
Step 4: Provide adequate notice to your current company to cancel your current policy and submit the signed application along with the required initial payment to the new insurer. Make sure you keep the new certificate of insurance in your vehicle.
The most important part of shopping around is to compare the same level of coverage on every price quote and and to get price quotes from as many car insurance companies as possible. Doing this provides a level playing field and the best price selection.
It’s hard to fathom, but a large majority of car insurance policyholders kept buying from the same company for at least the last four years, and approximately 38% of consumers have never compared rate quotes at all. Drivers in Massachusetts could save an average of roughly 45% each year just by shopping around, but they think it’s difficult to compare rate quotes online.
If you have insurance now or need new coverage, use these tips to get lower rates while maintaining coverages. Our goal is to help educate you on the most effective way to quote insurance. Consumers just have to learn how to compare company rates online.
Compare Boston Ford Mustang insurance rate quotes
Getting a low cost price on Ford Mustang insurance is actually easier than you may think. All you need to do is invest a few minutes getting comparison quotes to discover which company has inexpensive Boston car insurance quotes.
The providers in the list below provide free quotes in Boston, MA. If you want to find cheap auto insurance in Boston, it’s a good idea that you get rates from several of them to find the most affordable car insurance rates.
Rates and data analysis
The rate table displayed next showcases estimates of rate quotes for Ford Mustang models. Having knowledge of how car insurance prices are calculated is important for you to make decisions on the best policy to buy.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| Mustang 2-Dr Convertible | $328 | $612 | $438 | $26 | $132 | $1,536 | $128 |
| Mustang 2-Dr Coupe | $328 | $612 | $548 | $32 | $164 | $1,684 | $140 |
| Mustang GT 2-Dr Convertible | $370 | $704 | $438 | $26 | $132 | $1,670 | $139 |
| Mustang GT 2-Dr Coupe | $370 | $704 | $548 | $32 | $164 | $1,818 | $152 |
| Mustang Shelby GT500 2-Dr Convertible | $412 | $890 | $438 | $26 | $132 | $1,898 | $158 |
| Mustang Shelby GT500 2-Dr Coupe | $454 | $982 | $548 | $32 | $164 | $2,180 | $182 |
| Get Your Own Custom Quote Go | |||||||
Prices based on single male driver age 30, no speeding tickets, no at-fault accidents, $100 deductibles, and Massachusetts minimum liability limits. Discounts applied include multi-policy, safe-driver, multi-vehicle, homeowner, and claim-free. Table data does not factor in garaging location in Boston which can modify premium rates significantly.
Raise deductibles and save
One of the most common auto insurance questions is what deductibles to buy. The figures shown below may aid in understanding the rate differences between low and high deductibles. The first set of rates uses a $100 comprehensive and collision deductible and the second pricing table uses a $500 deductible.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| Mustang 2-Dr Convertible | $288 | $612 | $334 | $20 | $100 | $1,379 | $115 |
| Mustang 2-Dr Coupe | $288 | $612 | $418 | $24 | $126 | $1,493 | $124 |
| Mustang GT 2-Dr Convertible | $324 | $704 | $334 | $20 | $100 | $1,507 | $126 |
| Mustang GT 2-Dr Coupe | $324 | $704 | $418 | $24 | $126 | $1,621 | $135 |
| Mustang Shelby GT500 2-Dr Convertible | $362 | $890 | $334 | $20 | $100 | $1,731 | $144 |
| Mustang Shelby GT500 2-Dr Coupe | $398 | $982 | $418 | $24 | $126 | $1,973 | $164 |
| Get Your Own Custom Quote Go | |||||||
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| Mustang 2-Dr Convertible | $210 | $414 | $334 | $20 | $100 | $1,078 | $90 |
| Mustang 2-Dr Coupe | $210 | $414 | $418 | $24 | $126 | $1,192 | $99 |
| Mustang GT 2-Dr Convertible | $236 | $476 | $334 | $20 | $100 | $1,166 | $97 |
| Mustang GT 2-Dr Coupe | $236 | $476 | $418 | $24 | $126 | $1,280 | $107 |
| Mustang Shelby GT500 2-Dr Convertible | $264 | $602 | $334 | $20 | $100 | $1,320 | $110 |
| Mustang Shelby GT500 2-Dr Coupe | $292 | $664 | $418 | $24 | $126 | $1,524 | $127 |
| Get Your Own Custom Quote Go | |||||||
Data variables include married male driver age 30, no speeding tickets, no at-fault accidents, and Massachusetts minimum liability limits. Discounts applied include safe-driver, multi-vehicle, claim-free, homeowner, and multi-policy. Estimates do not factor in vehicle garaging location which can alter prices noticeably.
Based on the data above, we can derive that using a $100 deductible costs an average of $30 more each month or $360 for a full year averaged for all Mustang models than selecting the higher $500 deductible. Since you would pay $400 more out of your own pocket with a $500 deductible as compared to a $100 deductible, if you tend to have at a minimum 13 months between claims, you would more than likely save some money if you choose the higher deductible.
The diagram below shows how choosing a deductible and can affect Ford Mustang insurance costs for each age group. The premiums are based on a single male driver, comp and collision included, and no additional discounts are factored in.
Ford Mustang insurance rates by age and gender
The example below shows the difference between Ford Mustang insurance prices for male and female drivers. The rate quotes are based on no accidents or driving violations, comprehensive and collision coverage, $1,000 deductibles, drivers are single, and no discounts are applied.
Does it make sense to buy full coverage?
The chart below compares Ford Mustang yearly insurance costs with full coverage compared to only the Massachusetts minimum liability coverage. The premiums assume no claims or driving citations, $100 deductibles, drivers are not married, and no policy discounts are applied.
When to stop paying for full coverage
There is no exact formula for eliminating physical damage coverage on your policy, but there is a guideline you can consider. If the annual cost of your full coverage insurance is about 10% or more of the replacement cost minus the deductible, then you might consider buying liability only.
For example, let’s pretend your Ford Mustang book value is $7,000 and you have $1,000 policy deductibles. If your vehicle is destroyed, the most your company will settle for is $6,000 after paying the physical damage deductible. If it’s costing in excess of $600 a year for physical damage coverage, then you might consider buying liability only.
There are some scenarios where buying only liability insurance is not a good idea. If you haven’t paid off your loan, you have to keep full coverage to satisfy the loan requirements. Also, if your emergency fund is not enough to purchase a different vehicle if your current one is damaged, you should maintain full coverage.
Boston Insurance Rates are Influenced by These Factors
An important part of buying insurance is that you know some of the factors that play a part in calculating the price you pay for car insurance. When you understand what impacts premium levels, this helps enable you to make changes that can earn you big savings.
- Improve your credit rating – Credit rating will be a significant factor in determining your rates. Insureds that have very good credit scores tend to be better risks to insure than drivers with lower credit scores. Therefore, if your credit rating leaves room for improvement, you could pay less to insure your Ford Mustang by improving your rating.
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Younger drivers pay high premiums – More mature drivers are viewed as being more responsible, tend to file fewer claims, and are safer drivers. Teenage drivers tend to get distracted easily behind the wheel and because of this, their car insurance rates are much higher.
The following data assumes a single driver, full coverage with $1000 deductibles, and no discounts or violations.
- Continuous coverage lowers rates – Letting your insurance expire is a fast way to pay more for car insurance. Not only will you pay more, the inability to provide proof of insurance may result in a license revocation or jail time.
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High performance vehicles cost more to insure – The performance of the car you are buying insurance for makes a substantial difference in your rates. The lowest premiums are for economy passenger vehicles, but your final cost has many other factors.
The following chart uses these variables: single male driver age 40, full coverage with $500 deductibles, and no discounts or violations. The chart compares Ford Mustang policy rates compared to other models that have a range of performance risks.
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Accidents are costly – Attentive drivers get better rates than bad drivers. Just one speeding ticket can boost insurance rates forty percent or more. Drivers who have received multiple citations like DUI or willful reckless driving may find that they have to to prove financial responsibility with their state’s department of motor vehicles in order to prevent their license from being revoked.
The information below shows how violations and at-fault collisions can affect Ford Mustang insurance prices for different age groups of insureds. The data assumes a married male driver, full physical damage coverage, $100 deductibles, and no additional discounts are factored in.
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Insurance losses for a Ford Mustang – Insurers analyze historical claim data as a way to help calculate a profitable premium price. Vehicles that tend to have increased losses will have higher premium rates.
The next table illustrates the actual insurance loss data for Ford Mustang vehicles. For each type of coverage, the claim amount for all vehicles averaged together is equal to 100. Values that are below 100 suggest losses that are better than average, while numbers that are greater than 100 indicate frequent claims or an increased likelihood of larger losses.
Car Insurance Loss Data for Ford Mustang Models 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 BETTERAVERAGEWORSEEmpty fields indicate not enough data collected
Data Source: iihs.org (Insurance Institute for Highway Safety) for 2013-2015 Model Years
Three good reasons to insure your vehicle
Despite the high cost of buying insurance for a Ford Mustang in Boston, insurance may not be optional for several reasons.
- Most states have compulsory liability insurance requirements which means the state requires a specific minimum amount of liability if you want to drive legally. In Massachusetts these limits are 20/40/5 which means you must have $20,000 of bodily injury coverage per person, $40,000 of bodily injury coverage per accident, and $5,000 of property damage coverage.
- If you have a loan on your vehicle, more than likely the lender will force you to have comprehensive coverage to ensure loan repayment if the vehicle is totaled. If you cancel or allow the policy to lapse, the lender may insure your Ford for a much higher rate and make you pay a much higher amount than you were paying before.
- Insurance protects your vehicle and your assets. It also can pay for medical expenses for you, your passengers, and anyone else injured in an accident. One policy coverage, liability insurance, also covers all legal expenses up to the policy limit if anyone sues you for causing an accident. If mother nature or an accident damages your car, comprehensive (other-than-collision) and collision coverage will pay all costs to repair after the deductible has been paid.
The benefits of having auto insurance outweigh the cost, especially with large liability claims. As of last year, the average driver in Massachusetts is wasting up to $800 each year so smart consumers compare quotes each time the policy renews to save money.