insurance help!
 

i need some insurance advice from some of you mustang owners...

i'm looking to buy a '93-95 5.0L and i was investigating insurance prices... i was wondering what do you pay for insurance? with what company? and what kind of coverage? i got a quote from my dad's insurance company (not under his policy, though) of an outragous $4900/yr for a '95 cobra that i was looking at... any input or advice would be very appreciated! right now i've got a '90 ranger... would keeping this as a primary driver be a cheaper way out? being in my early twenties probably isn't helping either...

the cobra will be a lot worse than a normal 5.0. You do know that the body style from 87-93 is different that that of 94-95?

By your posting I gather that you are a young driver. If you are not disregard my message. Unfortunately, the rates for a young driver are very over priced. I was in a similar situation 6 years ago. I would try to get under your father's policy it would be cheaper. Also, you could register your mustang as a recreation car since you have the ranger. I pay about 50-60 bucks a month for 90 5.0 and I am 25. Farmers insurance is one of the cheapest in my opinion. Try them.

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dinomite - yeah, i'm aware of the different body styles... i'm primarily looking for a '93 lx coupe, but i'm a fan of the 94-95 body style too... basically i'm not being to picky - i'm finding it difficult to find a quality stock 5.0L mustang for a reasonable price...

jpumpkinn - i'm 23 with a clean driving record... but i'm finding out that doesn't mean that much when you own one of these cars... http://www.mustangworks.com/msgboard/smile.gif

thanks for the input guys...

tchm: I feel your pain. But there is hope! I am 19 years old and have been driving ever since I was 16 and have had a outstanding rate ever since. I own a 94 gt conv. I pay $1800/year with a clean MVR (no tickets/accidents). I also have full coverage but my limits are a little lower than average. My company (nationwide) also gives me a discount for being a good student (3.0gpa), driver's ed, and an air bag.
My dad being the agent, (doesn't have anything to do with my rate) estimates those 3 things save me about $500/year.

To MOST insurance companies, whether your Mustang is a Cobra or just a regular 5.0, doesn't matter. It's whether it is a v8 or v6, conv. or hardtop. Other things fall into options category also.

On my policy, I also have a little lower limits on the 3 different categories such as PIP, bodily inj., and property dam. But this only saves me about $15-20 a month.

Another thing to consider is where you live in the US. For instance, where you live may be more expensive for the same rate rather than where I live.

One other thing that saves me money is my long term discount. Your dad maybe able to give you this discount becuase he has been with the company for X amount of years. Not all companies offer it, but it helps if they do.

Hope I have helped!

It's hard to pay for insurance and also want to spend money on upgrades! But sqeeze every little discount you can out of those rat-bast**** for insurance agents.

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Green '94 GT conv. -- K&N filter charger, FMS 9mm wires, Accel hipo cap/rotor, 180* thermo, 14* timing, off road H-pipe in front of 2 chamber flow's, Steeda subframe connectors w/ crossbrace, and still workin' on the rest!

My 'Stang


[This message has been edited by green94droptop (edited 06-10-2001).]

I know that what your saying is right, all insurance companies do it, but if i ran an insurance company, and someone put a sports car down as a rec vehicle, i'd charge more for it. Cause they aren't in it all the time, they are gonna drive the hell out of it when they are! I know i would.

I use nationwide too. I have full coverage and it's about 1400 with better than average limits and a clean record (thank God for defensive driving). I think with nationwide the rates drop when you turn 23, unlike most companies where you have to be 24 or 25. Also the difference in a gt and cobra were about $50 or so a year. Check em out. I can't comment on their service though, because I've never had to use them, and I hope I never have to.

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Clint L.
White 95 Cobra #3637
58cc GT40X heads with mild porting, Crane 2031 cam, FRPP 65 TB, 1.7s, Cobra intake, homeade cold air, 155lph, pullies, Tokico Illuminas, C springs, GW LCAs, Kenny Brown super subs, Steeda CC plates, aluminum driveshaft, Steeda quadrant, B&M ripper, Kirban FPR, MSD6A, Taylor wires, Mac shorties, off road hpipe, 2 1/2 ultra flows w/ dumps, R hood, Euro clear corners, stock 3.08s
13.61 @ 104.7 w/ 2.22

You might want to check with an independant agent. They can usually get better rates because they can check with a whole bunch of companies and find you the lowest rates. Of course, then you end up with "Ed's Insurance Co." I've done this, and actually have had good service when I've had to use them.

Good luck, but insurance is a necessary evil.

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See my 1985 Mustang GT

I use Nationwide. I'm a guy, 20, and have a 93 5.0 coupe. My rate for full coverage is $111 a month. No tickets or accidents (knock on wood). Your rates will depend on driving record, sex, color of car (colors like black, dark colors are usually higher cause theyre harder to see, i.e., people pull out in front of you), location in the country, how many children are living in the house (one of em might get a wild hair, steal the car, and wreck it). etc. best thing is to call around and use the best quote you can get. Geico SUCKS. I called and they wanted 2600 a year for the same car. Nationwide kicks their *** .

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93 Coupe, long tubes, pro chamber, flowmasters, 3.73, auburn, alum driveshft, subframes, tri-ax, pulley, 73mm MAF, cobra Rs.

I am 19, have a clean record and I pay $2400 a year for my 92GT with full coverage. I have Liberty Mutual with $250 deductibles.

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1992 GT 5.0L Convertible
BBK Shorties, Flowmasters, Super Chip, Mass Air, Under Drive Pullies, Hurst Shifter, Duck Tape
AIM: SmokeyDP

You're 2 years too young. Insurance companies still think of you as a kid (high risk)....Rates go down dramatically when you hit 25. Also, it depends on where you live.....if you live in or near a big city, that's high in crime/stolen cars and in the# of accidents, you will pay phenominally more. My suggestion: turn 25 as quickly as possible, and get married (drops alot then too) http://www.mustangworks.com/msgboard/biggrin.gif

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'90 LX 5.0; 12K original miles (no sh*&); 3.55 gears; pulleys;Edelbrock Performer Heads; BBK shorties; MSD 6AL box w/ blaster 2 coil; Motorsport E303 cam; Pro-M 75mm MAF; BBK 70mm TB; Eibach spring kit; Southside welded subs; K&N cone filter charger; Hurst shifter; fiberglass turbo hood; A/C-less; rear seat-less; cat-less; 2 chamber Flos; Corbeau racing seats (fronts);
30# injectors; JMS Chip; 190 lb fp; TFS track heat Intake (12.299 @ 113)

I used to work for an insurance company and I can tell you that you definitely want to list the mustang as your secondary vehicle (this is what I have done and I pay about $56 a month, I am 23 also). The rates will be less than half of listing it as your primary vehicle.

Also, if you live in a part of the country that sees some shi##y weather you will want to put the vehicle in "storage" mode over the winter months. It will only cost about $10 a month and covers you for theft, fire, etc...

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Eric - 89 Mustang LX
302 - Cobra Intake - GT40p heads - Naturally Aspirated

While on the subject of insurance, I do alright on my 98 stang with the two vehicle thing but my 80 mustangs 6 cyl is just about dead. I was going to drop in 302 but the insurance company tells me they wont cover it because its a modified vehicle. Anyone else have any dealings with this? I figure Ill be putting in another late 70s - early 80s lo po v8 that was optional in the car stock. If it was just performance mods i might must not tell them, but if something happened and the insurance co really didnt want to pay, they might look hard enough to notice a different engine. Anyone know of a place that deals in insuring "modified vehicles?"

i bought my car from a lady i know so she let me make a 1500 down payment and then pay 100 a month so when i got a loan i didnt get a car loan so i dont need full coverage..so i have liability and it cost me $65 a month under my dads

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'91 GT,91K,T-5,air silencer removed,racing clutch(previous owner put in so dont know what kind),K&N air filter,Mac long tubes,Cat-back,off road H,FMS 9mm wires,Competition gauges,C&L 76mm MAF

Waiting install:TFS street heat,Accufab TB

Future Mods:3.73's,Pro 5.0,TFS heads,TFS stage 1 cam,lakewood struts/shocks,nitto DR's
ICQ#35670781
http://www.mustangworld.com/mpics/mwl1.gif