Have you had enough of sacrificing to pay insurance each month? You’re in the same situation as many other Illinois drivers.
A recent NerdWallet.com study revealed that 70% of consumers have remained with the same insurance company for four years or more, and just short of a majority have never compared rates with other companies. American consumers can save hundreds of dollars each year by just comparing rate quotes, but most just don’t grasp the benefits if they bought a different policy.
You have so many insurance companies to buy insurance from, and even though it’s nice to have multiple companies, lots of choices makes it harder to find a good deal for Ford Mustang insurance in Chicago.
You should take the time to do rate comparisons as often as possible because insurance prices change regularly. Just because you found the best deal on Ford Mustang insurance in Chicago on your last policy the chances are good that you can find a lower premium rate today. Block out anything you think you know about insurance because I’m going to let you in on the secrets to how to quote online to buy cheaper Ford Mustang insurance in Chicago.
The quickest method we recommend to compare car insurance rates for Ford Mustang insurance in Chicago is to understand auto insurance companies have advanced systems to give free rates quotes. All you need to do is provide a little information including if your license is active, how your vehicles are used, if you went to college, and whether you are single or married. Your insurance information is sent automatically to multiple top-rated companies and they return cost estimate quickly.
If you wish to get multiple quotes for your Ford Mustang now, click here and enter the information requested.
The companies shown below have been selected to offer price quotes in Chicago, IL. If multiple providers are shown, we recommend you visit as many as you can to find the most affordable auto insurance rates.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|Mustang 2-Dr Convertible||$230||$400||$342||$20||$102||$1,094||$91|
|Mustang 2-Dr Coupe||$126||$268||$306||$18||$92||$810||$68|
|Mustang GT 2-Dr Convertible||$178||$392||$250||$14||$76||$910||$76|
|Mustang GT 2-Dr Coupe||$196||$456||$306||$18||$92||$1,068||$89|
|Mustang Shelby GT500 2-Dr Convertible||$198||$530||$340||$20||$102||$1,190||$99|
|Mustang Shelby GT500 2-Dr Coupe||$260||$518||$428||$26||$128||$1,360||$113|
|Get Your Own Custom Quote Go|
Premium data assumes single male driver age 30, no speeding tickets, no at-fault accidents, $500 deductibles, and Illinois minimum liability limits. Discounts applied include safe-driver, homeowner, multi-vehicle, claim-free, and multi-policy. Rate quotes do not factor in Chicago location which can lower or raise coverage rates greatly.
Age-based auto insurance rates by gender
The information below visualizes the comparison of Ford Mustang annual premium costs for male and female drivers. The data assumes no claims or driving violations, comprehensive and collision coverage, $1,000 deductibles, marital status is single, and no additional discounts are factored in.
Is there deception in advertising?
Auto insurance providers like Progressive, Allstate and GEICO continually stream ads in print and on television. They all have a common claim that you’ll save big if you just switch your coverage. How is it plausible that every one can charge you a lower premium? You have to listen carefully.
Companies offer their best rates for a prospective insured that is profitable for them. For example, a driver they prefer may need to be married and over the age of 30, has never had a policy lapse, and insures a new vehicle. Any driver that meets those criteria will most likely get cheap car insurance rates as well as save when switching.
People who are not a match for these stringent criteria will have to pay a more expensive rate with the end result being business going elsewhere. The trick is to say “drivers who switch” but not “all drivers who get quotes” will save that much if they switch. That’s the way companies can truthfully make claims like that.
Because of these techniques, you absolutely need to compare free Chicago auto insurance quotes often. It’s just too difficult to predict with any certainty which company will fit your personal profile best.
Three reasons insurance is important
Even though it’s not necessarily cheap to insure a Ford in Chicago, insurance is not optional due to several reasons.
- Most states have minimum liability requirements which means it is punishable by state law to not carry a specific minimum amount of liability insurance coverage if you don’t want to risk a ticket. In Illinois these limits are 20/40/15 which means you must have $20,000 of bodily injury coverage per person, $40,000 of bodily injury coverage per accident, and $15,000 of property damage coverage.
- If your Mustang has a lien holder, almost every bank will require that you have insurance to guarantee loan repayment. If you cancel or allow the policy to lapse, the bank or lender will purchase a policy for your Ford at a significantly higher premium and require you to fork over for the much more expensive policy.
- Insurance protects both your car and your personal assets. It will also reimburse you for many types of medical costs for both you and anyone you injure as the result of an accident. Liability coverage, the one required by state law, will also pay to defend you if you are sued as the result of your driving. If you receive damage to your vehicle caused by a storm or accident, comprehensive (other-than-collision) and collision coverage will pay to repair the damage.
The benefits of insuring your car more than cancel out the cost, particularly when you have a large claim. The average driver in America is overpaying over $700 annually so compare rates at every renewal to make sure the price is not too high.
Save a ton by taking advantage of these six discounts
Car insurance is not cheap, but you may find discounts that many people don’t even know exist. Larger premium reductions will be automatically applied at the time you complete a quote, but some may not be applied and must be specifically requested in order for you to get them. If you aren’t receiving every discount you deserve, it’s possible you qualify for a lower rate.
- Anti-theft System – Cars, trucks, and SUVs optioned with advanced anti-theft systems are stolen less frequently and can earn a small discount on your policy.
- Auto/Life Discount – Auto insurance companies who offer life insurance give a discounted price on car insurance if you buy life insurance.
- Driving Data Discount – Chicago drivers who agree to allow driving data submission to monitor driving habits by installing a telematics device like Drivewise from Allstate or In-Drive from State Farm could see a rate decrease as long as the data is positive.
- Early Payment Discounts – If paying your policy premium upfront instead of making monthly payments you can actually save on your bill.
- Government Employees – Being employed by or retired from a federal job could provide a small rate reduction depending on your company.
- Student Discounts – Excelling in school may save you up to 25%. You can use this discount normally well after school through age 25.
One last thing about discounts, some of the credits will not apply to your bottom line cost. Most only apply to the price of certain insurance coverages like medical payments or collision. So even though they make it sound like you can get free auto insurance, company stockholders wouldn’t be very happy. Any qualifying discounts will bring down the cost of your policy.
If you would like to see a list of insurers with discount rates in Chicago, click here to view.
Don’t I need to talk to an insurance agency?
Many drivers just want to have an agent’s advice and doing that can be a smart decision An additional benefit of comparing insurance prices online is that you can find better rates and still buy from a local agent. And supporting neighborhood insurance agencies is definitely important in Chicago.
Upon completion of this short form, your coverage information is instantly submitted to local insurance agents that can give you free Chicago auto insurance quotes to get your business. It makes it easy because there is no need to contact any agents since price quotes are sent instantly to you. You’ll get the best rates AND an agent nearby. If you wish to quote rates from a specific company, you would need to navigate to their website and complete a quote there.
The different types of car insurance agents
When researching a local agent, you must know there are a couple different agency structures and how they can service your needs differently. Agencies in Chicago are either independent (non-exclusive) or exclusive.
Independent Insurance Agencies
Agents of this type do not have single company limitations so they can quote policies with many different companies and help determine which has the cheapest rates. If your agent finds better pricing, they simply move your policy to a different company and you don’t have to do anything. If you need cheaper insurance rates, you need to check rates from several independent insurance agents to ensure the widest selection of prices.
Shown below is a small list of independent agents in Chicago who may provide free insurance rate quotes.
Exclusive Insurance Agencies
Agents that elect to be exclusive have only one company to place business with and examples are Farmers Insurance, American Family, State Farm and Allstate. Exclusive agents are unable to compare rates from other companies so they have no alternatives for high prices. Exclusive insurance agents are usually quite knowledgeable on their company’s products which helps offset the inability to provide other markets.
Listed below is a list of exclusive agencies in Chicago willing to provide price quote information.
Choosing the best insurance agency is decision based upon more than just a low price. Get answers to these questions too.
- Will a damage claim use OEM or aftermarket replacement parts?
- Will one accident increase rates?
- How are they compensated?
- By raising physical damage deductibles, how much would you save?
- Does the company have a solid financial rating?
- How much training do they have in personal risk management?
- Are they involved in claim handling?
- If your car is in the repair shop, do you have coverage for a rental car?
Once you have positive feedback to any questions you may have in addition to an acceptable price estimate, you may have just found an auto insurance agent that meets the criteria to insure your vehicles.
How much auto insurance do I need?
When it comes to choosing a policy, there really is no “perfect” insurance plan. Every insured’s situation is different.
These are some specific questions can aid in determining whether you will benefit from professional help.
- What does PIP insurance cover?
- What can I do if my company won’t pay a claim?
- If my car is totalled with they pay enough to replace it?
- Does coverage follow the driver or the vehicle?
- Am I covered when driving in Canada or Mexico?
- Is there coverage for injuries to my pets?
- Where can I find high-risk insurance?
- Can I get a multi-policy discount for packaging my home and auto coverage?
- How do I buy GAP insurance?
- How high should my medical payments coverage be?
If you don’t know the answers to these questions but you know they apply to you, then you may want to think about talking to an insurance agent. To find lower rates from a local agent, complete this form.
Learn about insurance coverages for a Ford Mustang
Having a good grasp of your policy helps when choosing appropriate coverage for your vehicles. The terms used in a policy can be impossible to understand and even agents have difficulty translating policy wording.
Medical payments coverage and PIP
Medical payments and Personal Injury Protection insurance kick in for short-term medical expenses for things like rehabilitation expenses, dental work, nursing services, funeral costs and surgery. The coverages can be utilized in addition to your health insurance program or if there is no health insurance coverage. Medical payments and PIP cover you and your occupants and will also cover any family member struck as a pedestrian. PIP is only offered in select states but can be used in place of medical payments coverage
Collision insurance covers damage to your Mustang caused by collision with a stationary object or other vehicle. You have to pay a deductible and the rest of the damage will be paid by collision coverage.
Collision coverage pays for claims like hitting a mailbox, crashing into a building and crashing into a ditch. This coverage can be expensive, so consider dropping it from older vehicles. It’s also possible to choose a higher deductible on your Mustang to bring the cost down.
Comprehensive insurance coverage pays for damage that is not covered by collision coverage. You first must pay your deductible then the remaining damage will be covered by your comprehensive coverage.
Comprehensive coverage protects against things like hitting a deer, vandalism, falling objects and rock chips in glass. The maximum payout your insurance company will pay is the ACV or actual cash value, so if the vehicle’s value is low consider removing comprehensive coverage.
Uninsured/Underinsured Motorist coverage
Your UM/UIM coverage protects you and your vehicle from other drivers when they do not carry enough liability coverage. This coverage pays for hospital bills for your injuries as well as damage to your Ford Mustang.
Due to the fact that many Illinois drivers carry very low liability coverage limits (which is 20/40/15), it doesn’t take a major accident to exceed their coverage limits. So UM/UIM coverage is important protection for you and your family. Usually these coverages do not exceed the liability coverage limits.
This coverage will cover damage that occurs to other’s property or people in an accident. It protects YOU against claims from other people. It does not cover damage sustained by your vehicle in an accident.
It consists of three limits, bodily injury per person, bodily injury per accident and property damage. As an example, you may have values of 20/40/15 which stand for a limit of $20,000 per injured person, a total of $40,000 of bodily injury coverage per accident, and property damage coverage for $15,000. Another option is one number which is a combined single limit which combines the three limits into one amount without having the split limit caps.
Liability can pay for claims like loss of income, court costs and repair bills for other people’s vehicles. How much liability should you purchase? That is your choice, but it’s cheap coverage so purchase as high a limit as you can afford. Illinois state minimum liability requirements are 20/40/15 but it’s recommended drivers buy higher limits.
The best rates come from being thorough
In this article, we covered many tips how you can save on Ford Mustang insurance in Chicago. The key thing to remember is the more companies you get rates for, the higher your chance of finding low cost Chicago auto insurance quotes. Drivers may even discover the lowest priced auto insurance comes from a company that doesn’t do a lot of advertising.
Insureds switch companies for a variety of reasons including denial of a claim, extreme rates for teen drivers, lack of trust in their agent and an unsatisfactory settlement offer. Whatever your reason, finding a great new company is pretty easy and you might even save some money in the process.
More affordable auto insurance in Chicago is attainable from both online companies in addition to many Chicago insurance agents, and you should be comparing both to get a complete price analysis. Some insurance companies may not provide the ability to get quotes online and these smaller companies provide coverage only through independent insurance agencies.
More detailed auto insurance information is available in the articles below:
- Eight Auto Insurance Myths (Insurance Information Institute)
- Who Has Affordable Chicago Auto Insurance for a Honda CR-V? (FAQ)
- What Car Insurance is Cheapest for Lyft Drivers in Chicago? (FAQ)
- Who Has Cheap Auto Insurance Quotes for a Chevrolet Equinox in Chicago? (FAQ)
- Who Has Cheap Car Insurance for a Honda Civic in Chicago? (FAQ)
- How Much is Chicago Car Insurance for Electric Cars? (FAQ)
- Who Has the Cheapest Chicago Auto Insurance for Teenagers? (FAQ)
- Higher speed limits cause more fatalities (Insurance Institute for Highway Safety)
- Smart Auto Insurance Tips (Insurance Information Institute)
- Choosing a Car for Your Teen (State Farm)