How Much Does 2003 Ford Ranger Car Insurance Cost?

Paying for high-priced Ford Ranger insurance can drain your bank account and make it hard to pay other bills. Comparing price quotes is a great way to lower your monthly bill.

Because there are so many online and local companies to choose from, it can be challenging to choose the most affordable company.

Pay less by taking advantage of discounts

Car insurance companies don’t always list every discount very clearly, so the following is a list of both the well known as well as the least known car insurance savings.

  • Multiple Vehicles – Buying insurance for multiple vehicles with the same company qualifies for this discount.
  • Senior Citizens – If you’re over the age of 55, you may qualify for reduced rates for Ranger insurance.
  • Early Switch Discount – Select companies give a discount for switching to them before your current expiration date. It’s a savings of about 10%.
  • Service Members Pay Less – Having a family member in the military may qualify for rate reductions.
  • Auto/Life Discount – Some companies give better rates if you take out auto and life insurance together.
  • Anti-lock Brake Discount – Anti-lock brake equipped vehicles can reduce accidents and will save you 10% or more.
  • Seat Belt Usage – Drivers who require all occupants to wear their seat belts can save 10% or more off your medical payments premium.
  • Drivers Ed for Students – Require your teen driver to successfully complete driver’s ed class if it’s offered in school.

Consumers should know that most discounts do not apply the the whole policy. The majority will only reduce individual premiums such as physical damage coverage or medical payments. So even though it sounds like you would end up receiving a 100% discount, companies wouldn’t make money that way.

For a list of providers who offer car insurance discounts, click this link.

Elements that influence Ford Ranger insurance rates

It’s important that you understand the factors that go into determining auto insurance rates. Understanding what influences your rates helps enable you to make changes that can help you get better auto insurance rates.

  • Where you live is a factor – Choosing to live in a small town is a positive aspect when buying auto insurance. Less people living in that area means fewer accidents as well as less vandalism and auto theft. Drivers in populated areas tend to have more traffic problems and much longer commute distances. Longer commute distances means higher likelihood of an accident.
  • Theft deterrents lower rates – Choosing a vehicle that has an advanced theft prevention system can help bring down rates. Anti-theft features like vehicle immobilizer systems, General Motors OnStar and LoJack tracking systems can thwart auto theft.
  • Safer occupants lowers premiums – Safer cars get lower rates. Safer cars protect occupants better and any reduction in injury severity translates into savings for insurance companies and thus lower rates. If the Ford Ranger has ratings of a minimum an “acceptable” rating on the Insurance Institute for Highway Safety website or four stars on the National Highway Traffic Safety Administration website you may qualify for a discount.
  • More miles equals more premium – Driving more miles every year the higher your rates will be. Almost all companies apply a rate determined by how the vehicle is used. Vehicles left parked in the garage get more affordable rates compared to those used for work or business. Having the wrong rating on your Ranger may be wasting your money. Make sure your auto insurance coverage properly reflects the proper vehicle usage.
  • High credit ratings translate to low rates – Credit score is a large factor in determining your rates. If your credit score is lower than you’d like, you could potentially save money when insuring your 2003 Ford Ranger by improving your rating. Drivers who have excellent credit tend to be better drivers and file fewer claims than those with poor credit.

Your coverage should be tailored to you

When choosing coverage, there really is no “perfect” insurance plan. Your needs are not the same as everyone else’s and your policy should reflect that. Here are some questions about coverages that could help you determine whether you will benefit from professional help.

  • Do I get a pro-rated refund if I cancel my policy early?
  • What are the financial responsibility laws in my state?
  • What is UM/UIM insurance?
  • I have health insurance so do I need medical payments coverage?
  • When can my company non-renew my policy?
  • Who is covered by my policy?

If you’re not sure about those questions but you know they apply to you, you may need to chat with a licensed insurance agent. If you want to speak to an agent in your area, fill out this quick form or you can go here for a list of companies in your area.

The fine print in auto insurance ads

Companies like GEICO, State Farm and Progressive consistently run ads on television and other media. All the ads make an identical promise that you can save if you change to their company. How do they all say the same thing?

Different companies are able to cherry pick for the type of customer that is profitable for them. For instance, a driver they prefer could possibly be between 25 and 40, a clean driving record, and drives less than 7,500 miles a year. Any new insured who fits that profile will qualify for the lowest rates and therefore will save when they switch companies.

Drivers who do not match the “perfect” profile will be charged a more expensive rate and this can result in business not being written. The ads say “people who switch” not “people who quote” save that kind of money. That’s the way insurance companies can advertise the way they do. That is why it’s extremely important to get a wide range of price quotes. Because you never know the company that will fit your personal profile best.

Car insurance coverages explained

Understanding the coverages of car insurance aids in choosing the best coverages and the correct deductibles and limits. Car insurance terms can be difficult to understand and nobody wants to actually read their policy. Listed below are the normal coverages found on the average car insurance policy.

Liability coverage – This provides protection from damage that occurs to other’s property or people by causing an accident. It protects you against other people’s claims, and doesn’t cover damage to your own property or vehicle.

Split limit liability has three limits of coverage: bodily injury per person, bodily injury per accident and property damage. Your policy might show liability limits of 25/50/25 that translate to $25,000 in coverage for each person’s injuries, a limit of $50,000 in injury protection per accident, and a total limit of $25,000 for damage to vehicles and property.

Liability can pay for things like court costs, medical expenses, emergency aid, loss of income and repair costs for stationary objects. The amount of liability coverage you purchase is a decision to put some thought into, but you should buy as high a limit as you can afford.

Collision coverage – This pays to fix your vehicle from damage from colliding with a stationary object or other vehicle. A deductible applies and then insurance will cover the remainder.

Collision insurance covers things like backing into a parked car, hitting a parking meter, hitting a mailbox and colliding with a tree. Collision is rather expensive coverage, so analyze the benefit of dropping coverage from vehicles that are older. You can also increase the deductible in order to get cheaper collision rates.

Coverage for medical payments – Coverage for medical payments and/or PIP pay for short-term medical expenses for ambulance fees, funeral costs, X-ray expenses, prosthetic devices and doctor visits. They are often used to cover expenses not covered by your health insurance policy or if you lack health insurance entirely. Coverage applies to all vehicle occupants as well as getting struck while a pedestrian. Personal Injury Protection is not available in all states and gives slightly broader coverage than med pay

Comprehensive coverages – This will pay to fix damage caused by mother nature, theft, vandalism and other events. You first have to pay a deductible and the remainder of the damage will be paid by comprehensive coverage.

Comprehensive coverage protects against claims such as a tree branch falling on your vehicle, rock chips in glass, falling objects and damage from getting keyed. The highest amount you’ll receive from a claim is the actual cash value, so if the vehicle is not worth much it’s not worth carrying full coverage.

Uninsured and underinsured coverage – This coverage protects you and your vehicle when the “other guys” either have no liability insurance or not enough. Covered losses include injuries sustained by your vehicle’s occupants and also any damage incurred to your 2003 Ford Ranger.

Due to the fact that many drivers have only the minimum liability required by law, it doesn’t take a major accident to exceed their coverage limits. For this reason, having high UM/UIM coverages is very important.

Save your cold hard cash

Affordable 2003 Ford Ranger insurance is available on the web and also from your neighborhood agents, and you need to price shop both in order to have the best chance of saving money. Some companies may not provide online quoting and usually these small insurance companies provide coverage only through local independent agents.

We’ve covered some good ideas how to reduce insurance prices online. The key thing to remember is the more price quotes you have, the better your chances of lowering your rates. Consumers could even find that the most savings is with an unexpected company. These smaller insurers may cover specific market segments cheaper compared to the large companies like State Farm and Allstate.

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