Truthfully, the best way to get low-cost car insurance rates is to make a habit of regularly comparing prices from companies who sell insurance in Oklahoma City.
First, spend a few minutes and learn about how car insurance works and the things you can control to lower rates. Many risk factors that result in higher rates such as distracted driving and a negative credit score can be eliminated by making lifestyle changes or driving safer. Continue reading for additional tips to get cheaper rates and earn a bigger discount.
Second, request rate estimates from independent agents, exclusive agents, and direct companies. Direct and exclusive agents can provide rates from one company like Progressive or Allstate, while agents who are independent can provide prices from multiple companies. Find an Oklahoma City insurance agent
Third, compare the price quotes to the price on your current policy to determine if you can save on Mustang insurance in Oklahoma City. If you find a better price and make a switch, make sure coverage is continuous and does not lapse.
Fourth, provide notification to your current agent or company to cancel your current policy. Submit any necessary down payment along with the completed application to the newly selected company. As soon as you receive it, keep your new certificate of insurance in your vehicle’s glove compartment or console.
The most important part of shopping around is to use similar coverage information on every quote request and to quote with as many auto insurance providers as possible. This helps ensure a fair price comparison and the best price selection.
It goes without saying that auto insurance companies don’t want you to look for a cheaper policy. Consumers who shop around for cheaper prices are inclined to buy a new policy because they have good chances of finding a policy with better rates. A recent study showed that people who compared rates once a year saved on average $860 a year compared to other drivers who don’t regularly compare prices.
If finding budget-friendly Ford Mustang insurance is your ultimate target, then having an understanding of how to shop for insurance coverage can make the process less intimidating.
Locating the most cost-effective car insurance policy in Oklahoma City is actually not that difficult if you follow our advice. If you have insurance now or are shopping for new coverage, follow these tips to find the best rates and still have adequate protection. Smart shoppers just have to know the tricks to get comparison rates over the internet.
Getting a cheaper price on Ford Mustang insurance is actually quite simple. All that’s required is to take a couple of minutes getting comparison quotes online with multiple companies.
The following companies offer price quotes in Oklahoma. If several companies are displayed, it’s a good idea that you compare several of them in order to get a fair rate comparison.
Save with these discounts
Some insurance providers don’t always advertise every available discount very well, so below is a list a few of the more well known and the more hidden discounts you could be receiving when you buy Oklahoma City car insurance online.
- Anti-lock Brake Discount – Cars and trucks that have anti-lock braking systems can stop better under adverse conditions and the ABS can save up to 10%.
- Home Ownership Discount – Being a homeowner can get you a discount because it shows financial diligence.
- Seat Belts Save – Forcing all vehicle occupants to buckle up can save up to 15% off the PIP or medical payment premium.
- Early Switch Discount – A few car insurance companies offer discounts for switching to them prior to the expiration date on your current Mustang insurance policy. You could save around 10% when you buy Oklahoma City car insurance online.
- Waiver for an Accident – This isn’t a discount exactly, but companies like Progressive, State Farm and GEICO may permit one accident before hitting you with a surcharge if your claims history is clear prior to being involved in the accident.
- Bundle and Save – If you can bundle your auto and home insurance with the same company you may earn approximately 10% to 15%.
- Good Grades Discount – Maintaining excellent grades can be rewarded with saving of up to 25%. The discount lasts well after school through age 25.
- Discounts for Federal Employees – Active or former government employment can earn a discount up to 10% with some car insurance companies.
Keep in mind that most discounts do not apply to the entire cost. Most only reduce the price of certain insurance coverages like comprehensive or collision. So despite the fact that it appears having all the discounts means you get insurance for free, you’re out of luck.
The illustration below illustrates the difference between Ford Mustang auto insurance costs with and without discounts applied to the rates. The price estimates are based on a female driver, no tickets, no at-fault accidents, Oklahoma state minimum liability limits, full physical damage coverage, and $250 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with multi-policy, claim-free, marriage, homeowner, safe-driver, and multi-car discounts applied.
A few popular companies and a summarized list of policyholder discounts are detailed below.
- Travelers offers discounts for home ownership, early quote, new car, multi-policy, continuous insurance, and student away at school.
- 21st Century has discounts for early bird, teen driver, student driver, air bags, good student, and anti-lock brakes.
- State Farm may have discounts that include Drive Safe & Save, multiple policy, safe vehicle, good student, multiple autos, and student away at school.
- GEICO policyholders can earn discounts including anti-theft, daytime running lights, good student, seat belt use, and air bags.
- SAFECO offers premium reductions for teen safety rewards, multi-car, bundle discounts, drive less, homeowner, and anti-theft.
- AAA includes discounts for good student, multi-car, pay-in-full, multi-policy, AAA membership discount, education and occupation, and anti-theft.
It’s a good idea to ask each company which credits you are entitled to. Some credits might not apply in your state. For a list of car insurance companies that offer many of these discounts in Oklahoma, follow this link.
Auto insurance data for a Ford Mustang
The data table shown next outlines estimates of coverage prices for Ford Mustang models. Being aware of how policy premiums are figured can assist in making smart buying decisions.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| Mustang 2-Dr Convertible | $322 | $554 | $588 | $34 | $176 | $1,674 | $140 |
| Mustang 2-Dr Coupe | $322 | $554 | $734 | $44 | $220 | $1,874 | $156 |
| Mustang GT 2-Dr Convertible | $362 | $638 | $588 | $34 | $176 | $1,798 | $150 |
| Mustang GT 2-Dr Coupe | $362 | $638 | $734 | $44 | $220 | $1,998 | $167 |
| Mustang Shelby GT500 2-Dr Convertible | $404 | $806 | $588 | $34 | $176 | $2,008 | $167 |
| Mustang Shelby GT500 2-Dr Coupe | $446 | $890 | $734 | $44 | $220 | $2,334 | $195 |
| Get Your Own Custom Quote Go | |||||||
Prices above based on single male driver age 30, no speeding tickets, no at-fault accidents, $500 deductibles, and Oklahoma minimum liability limits. Discounts applied include multi-vehicle, homeowner, safe-driver, claim-free, and multi-policy. Information does not factor in Oklahoma City location which can influence coverage rates substantially.
Impact of speeding/accidents on auto insurance rates
The diagram below shows how speeding tickets and at-fault fender-benders impact Ford Mustang premium costs for each different age group. The rates are based on a single male driver, full physical damage coverage, $100 deductibles, and no additional discounts are factored in.
Auto insurance prices based on gender
The diagram below illustrates the comparison of Ford Mustang insurance prices for male and female drivers. The premium estimates are based on no violations or claims, full physical damage coverage, $100 deductibles, single status, and no discounts are factored in.
Full coverage rates compared to liability-only
The information below illustrates the difference between Ford Mustang auto insurance rates with and without full coverage. The premiums assume no accidents, no driving violations, $1,000 deductibles, single marital status, and no discounts are factored in.
Are you wasting money paying for full coverage?
There is no clear-cut formula to eliminate comprehensive and collision coverage on your policy, but there is a broad guideline. If the yearly cost of comp and collision coverage is more than around 10% of the vehicle’s replacement cost less your deductible, then it could be time to drop full coverage.
For example, let’s assume your Ford Mustang replacement value is $7,000 and you have $1,000 full coverage deductibles. If your vehicle is damaged in an accident, the most your company would pay you is $6,000 after you pay the deductible. If premiums are more than $600 annually for physical damage coverage, then you might consider buying liability only.
There are a few situations where buying only liability insurance is not a good idea. If you have an outstanding loan on your vehicle, you have to carry full coverage in order to prevent your loan from defaulting. Also, if your emergency fund is not enough to purchase a different vehicle in the even your car is totaled, you should not eliminate full coverage.
Local agents and car insurance
Some people just prefer to sit down and talk to an agent and that is a personal choice. Most agents can help you build your policy and help file insurance claims. One of the best bonuses of comparing rates online is that you can find cheap car insurance quotes and still have an agent to talk to.
To make it easy to find an agent, after completing this short form, the quote information is instantly submitted to insurance agents in Oklahoma City who will gladly provide quotes for your car insurance coverage. You don’t have to do any legwork since rate quotes are delivered to you directly. If you wish to get a comparison quote from a particular provider, you would need to go to their quote page and fill out the quote form the provide.
Picking an insurance company requires you to look at more than just the price. Get answers to these questions too.
- Do the companies they represent have a solid financial rating?
- Where are claims handled?
- Will the agent or a CSR service your policy?
- Can they help ensure a fair claim settlement?
- How many years have they been established?
- Does the company use OEM repair parts?
- What insurance companies do they recommend if they are an independent agent?
- Are they in the agency full-time?
Auto insurance agents in Oklahoma City come in two varieties
When researching a reliable insurance agency, you should know the types of agencies and how they differ in how they quote coverages. Car insurance agents are considered either independent or exclusive. Both can handle car insurance, but it’s worth learning the subtle differences because it can impact which agent you choose.
Exclusive Agents
Exclusive insurance agents can only write with one company such as State Farm, Allstate, or Farmers Insurance. Exclusive agencies are unable to shop your coverage around so keep that in mind. Exclusive agents are usually well trained on their products and sales techniques and that enables them to sell even at higher rates. Consumers frequently buy from the same agent for years primarily because of the prominence of the brand rather than having low rates.
Listed below are Oklahoma City exclusive agents that are able to give price quotes.
- Farmers Insurance: Todd Jackson
5909 Northwest Expy #105 – Oklahoma City, OK 73132 – (405) 722-5858 – View Map - Tony Brummitt – State Farm Insurance Agent
9509 N Council Rd – Oklahoma City, OK 73162 – (405) 721-1423 – View Map - Shelter Insurance – Paul Michael
8320 S Western Ave – Oklahoma City, OK 73139 – (405) 632-2751 – View Map
Independent Agents (or Brokers)
Agents that elect to be independent are not restricted to one company and that allows them to write policies with an assortment of companies and find you cheaper rates. To move your coverage to a new company, they simply move your policy to a different company and you don’t have to do anything.
When comparing car insurance prices, you need to get several quotes from several independent insurance agents for maximum quote selection. Most have the option of insuring with small regional insurance companies which may have better rates.
The following is a short list of independent agencies in Oklahoma City that can give you price quotes.
- State Auto Insurance
4030 NW 10th St – Oklahoma City, OK 73107 – (405) 943-5575 – View Map - State Auto Insurance Agency Inc
4717 S Western Ave – Oklahoma City, OK 73109 – (405) 631-5575 – View Map - Freeland Insurance, LLC
6017 Shiloh Dr – Oklahoma City, OK 73179 – (405) 692-6106 – View Map
If you feel you receive good feedback to your questions in addition to an acceptable price estimate, you have narrowed it down to a car insurance agent that is a good match to insure your vehicles. It’s important to know that you are able to cancel your policy at any time so never feel that you’re stuck with any particular company indefinitely.
Choices You Make Can Impact Your Insurance Costs
Consumers need to have an understanding of a few of the rating criteria that go into determining the price you pay for car insurance. When you understand what impacts premium levels, this enables informed choices that will entitle you to better car insurance rates.
The list below includes some of the major factors that factor into rates.
Companies want multiple policies – Most larger companies will award a discount to insureds that have more than one policy, otherwise known as a multi-policy discount. The discount can be ten or even fifteen percent. Even if you already get this discount, drivers will still want to comparison shop to guarantee you are still saving the most. You may still find better rates by buying from different companies
Discounts for married drivers – Your spouse can actually save you money when shopping for car insurance. Having a spouse usually means you are more mature it has been statistically shown that married couples file fewer claims.
Your address can affect costs – Choosing to live in areas with lower population has definite advantages when talking about car insurance. Fewer people means reduced accidents in addition to fewer liability claims. City drivers regularly have more aggressive driving styles and more severe claims. Higher commute times means more chances of being involved in an auto accident.
Your age impacts your prices – Inexperience drivers have a tendency to be more careless when behind the wheel so they pay higher car insurance rates. If you’ve ever had to add a beginning driver onto your car insurance can really hurt. Older drivers are viewed as being more responsible, tend to cause fewer accidents, and usually have better credit.
The following data is based on a single driver, full coverage with $250 deductibles, and no discounts or violations.
Ford Mustang insurance claim data – Insurers use data from past claims to determine a price that will be profitable for them. Vehicles that the data shows to have a higher amount or frequency of claims will have higher rates. The table below outlines the insurance loss data for Ford Mustang vehicles.
For each coverage category, the claim probability for all vehicles, regardless of make, model or trim level, is a value of 100. Percentage values below 100 suggest a better than average loss history, while percentage values above 100 point to more claims or statistically larger claims.
| Specific Ford 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
Data Source: Insurance Institute for Highway Safety for 2013-2015 Model Years
Car insurance does more than just repair your car
Despite the high cost, buying car insurance serves an important purpose.
- Almost all states have mandatory liability insurance requirements which means you are required to carry a specific minimum amount of liability insurance in order to drive the car. In Oklahoma these limits are 25/50/25 which means you must have $25,000 of bodily injury coverage per person, $50,000 of bodily injury coverage per accident, and $25,000 of property damage coverage.
- If you bought your Ford with a loan, most lenders will stipulate that you have comprehensive coverage to guarantee their interest in the vehicle. If you do not keep the policy in force, the lender may insure your Ford at an extremely high rate and require you to reimburse them a much higher amount than you were paying before.
- Car insurance protects both your vehicle and your personal assets. It will also cover all forms of medical expenses incurred in an accident. Liability insurance also pays for attorney fees and expenses if you cause an accident and are sued. If you have damage to your Ford as the result of the weather or an accident, comprehensive and/or collision insurance will pay to have it repaired.
The benefits of insuring your car are without a doubt worth the cost, especially with large liability claims. According to a 2015 survey, the average American driver is wasting up to $850 per year so you should quote rates each time the policy renews to make sure the price is not too high.
The best insurance company isn’t always the cheapest
People who switch companies do it for a number of reasons such as high rates after DUI convictions, delays in paying claims, denial of a claim or even policy cancellation. It doesn’t matter what your reason, finding a great new company is not as difficult as it may seem.
When getting Oklahoma City car insurance quotes online, do not buy poor coverage just to save money. In too many instances, an insured dropped uninsured motorist or liability limits only to regret that the savings was not a smart move. Your goal should be to find the BEST coverage at the lowest possible cost, but do not skimp to save money.
We’ve covered a lot of information how to compare Ford Mustang insurance car insurance rates in Oklahoma City. The key thing to remember is the more rate quotes you have, the higher the chance of saving money. Drivers may even discover the lowest car insurance rates are with some of the smallest insurance companies.
Even more information is available in these articles:
- When is the Right Time to Switch Car Insurance Companies? (Allstate)
- Who Has Cheap Oklahoma City Auto Insurance for Government Employees? (FAQ)
- Who Has the Cheapest Auto Insurance Rates for a Chevrolet Equinox in Oklahoma City? (FAQ)
- Who Has the Cheapest Auto Insurance for Uninsured Drivers in Oklahoma City? (FAQ)
- Eight Auto Insurance Myths (Insurance Information Institute)
- Auto Insurance Basics (Insurance Information Institute)
- State Car Insurance Guides (GEICO)
- Get the Right Protection (InsureUonline.org)