Insurance Friendly Mustang
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GTR Member
Joined: May 27, 2004
Posts: 4,749
Likes: 2
From: Manchester, England
Just received this from CNNmoney. Might be a bargaining chip with the insurance companies! (unlikely though 
)
Ford Motor Co. worked with insurers to lower cost of repairs and insurance for the new Mustang.
NEW YORK (CNN/Money) - The new model of the Ford Mustang sports car is likely to see lower insurance rates due to design changes that make it cheaper to repair, according to a published report Tuesday.
USA Today reported that the design changes include stronger bumpers and headlights which are slightly behind the front grill, which should save the lights from damage in the case of low-speed fender benders.
The nation's No. 2 automaker is also using the same lock mechanisms, handles and other door pieces on the Mustang that are used on the popular Mazda 6, which is more difficut to steal, the paper reported.
USA Today said Ford (Research) worked with State Farm, the largest auto insurer that runs a vehicle research facility working on reducing insurance claim costs, as well as Hartford Insurance to design the more insurance-friendly version of the Mustang.
"Other (automakers) have listened to information we've provided and may have made smaller efforts in individual areas of the car, but (the Mustang) may well be the most comprehensive we've seen," State Farm research administrate Steven Schmidt told the paper. He cited Volkswagen, Mitsubishi and Honda as automakers making some changes in their vehicle designs after input from the insurer.
Schmidt told the paper the insurer isn't sure yet whether Mustang insurance rates will fall, or by how much, but the outlook is good.
According to the Insurance Information Institute, repair costs are rising at nearly double the overall rate of inflation. the paper reports. The average family will spend $870 this year on auto insurance, up 1.5 percent from 2004, the paper reports, citing the institute.
)Ford Motor Co. worked with insurers to lower cost of repairs and insurance for the new Mustang.
NEW YORK (CNN/Money) - The new model of the Ford Mustang sports car is likely to see lower insurance rates due to design changes that make it cheaper to repair, according to a published report Tuesday.
USA Today reported that the design changes include stronger bumpers and headlights which are slightly behind the front grill, which should save the lights from damage in the case of low-speed fender benders.
The nation's No. 2 automaker is also using the same lock mechanisms, handles and other door pieces on the Mustang that are used on the popular Mazda 6, which is more difficut to steal, the paper reported.
USA Today said Ford (Research) worked with State Farm, the largest auto insurer that runs a vehicle research facility working on reducing insurance claim costs, as well as Hartford Insurance to design the more insurance-friendly version of the Mustang.
"Other (automakers) have listened to information we've provided and may have made smaller efforts in individual areas of the car, but (the Mustang) may well be the most comprehensive we've seen," State Farm research administrate Steven Schmidt told the paper. He cited Volkswagen, Mitsubishi and Honda as automakers making some changes in their vehicle designs after input from the insurer.
Schmidt told the paper the insurer isn't sure yet whether Mustang insurance rates will fall, or by how much, but the outlook is good.
According to the Insurance Information Institute, repair costs are rising at nearly double the overall rate of inflation. the paper reports. The average family will spend $870 this year on auto insurance, up 1.5 percent from 2004, the paper reports, citing the institute.
I Have No Life
Joined: May 26, 2004
Posts: 10,605
Likes: 2
Very interesting. My insurance is with state farm. When I first got the car insured last November my rate was insane. They based it on an 03 Cobra. Go figure. Since then my rates have dropped but only by about 15 bucks a month. Then again, I did find that people in Ontario pay 4x as much for insurance as someone in British Columbia. Thank you Mr. Government for everything. Should I bend over one more time for you 
Legacy TMS Member
Joined: November 25, 2004
Posts: 989
Likes: 0
From: Lehigh Valley, PA
When I first got the quote from GEICO it was without having a VIN yet. Once I gave them the VIN the quote went down. Never experienced that one before.
I have my other cars, mortgage and home owners insurance with USAA and their quote for the Mustang was still almost double what GEICO quoted for the car alone.. didn't xfer anything over to them either.
I have my other cars, mortgage and home owners insurance with USAA and their quote for the Mustang was still almost double what GEICO quoted for the car alone.. didn't xfer anything over to them either.
Member
Joined: October 16, 2004
Posts: 7
Likes: 0
I'm paying 1,200.- every 6 month (Progressive), due to no driving history here in the states!
I moved from Austria to the states beginning 2005!
Geico wanted to have 2,400,- for 6 month!
I think this is not fair, I'm driving cars for more than 10 years without one accident!
I moved from Austria to the states beginning 2005!
Geico wanted to have 2,400,- for 6 month!
I think this is not fair, I'm driving cars for more than 10 years without one accident!
GT Member
Joined: February 11, 2004
Posts: 187
Likes: 0
I got my car and started insurance in June with State Farm. I got a limited mileage policy that was about $400 every six months. A week later I got a letter in the mail that said State Farm was dropping my rate by $53 every 6 months. I got the rebate check a couple of days later. So, they definitely lowered it in my case.
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