Ford LTD Car Insurance Costs

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Here's what you need to know...

  • The Ford LTD was not produced after 1986
  • It offered advanced safety features for its time
  • When considering insurance for an older car, you may be better off not carrying full coverage

If you own an older model vehicle or are considering buying one, you need to have the right insurance in place to protect yourself, as well as other drivers on the road.

If you are looking for car insurance for a Ford LTD, you will need to get rate quotes for your specific model and situation.

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Keep in mind that you will need to buy at least the minimum level of third party liability coverage required for your state.

This type of coverage protects the occupants of the other vehicle when an accident occurs. The bodily injury liability coverage pays for their medical bills and lost wages incurred as a result of the incident. It also pays out a funeral benefit if the accident produces one or more fatalities.

Property damage liability coverage is the other type of mandatory insurance coverage that drivers must have in place.

This part of the policy pays for the cost of repairs to the other driver’s vehicle, as well as any public property damaged in the accident. Public property includes items like guard rails, sign posts, and mailboxes.

Specifics of the Ford LTD

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The Ford LTD was a full-size sedan produced from 1965-1991. The first model was called the Galaxie 500 LTD. Customers who chose it got a vehicle that was equipped with several state-of-the-art features:

  • a power driver’s seat
  • power windows
  • power steering and brakes
  • air conditioning

By the late 1970s, LTD models on the market were noticeably shorter than previous versions. Designers found a way to shorten the car’s length without sacrificing any interior space.

Customers who bought an LTD from the 1979-82 model years also reported that these cars offered easier handling on the road.

Starting in 1983, the LTD was sold in a four-door sedan and four-door station wagon style. This generation of models also included a police version. This version featured bench seats with an automatic trunk opener located under the steering wheel.

The LTD went out of production in 1986. It was replaced by the Ford Taurus.

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Car Insurance for Older Models

Car insurance customers looking for coverage for older model cars may have different needs than someone who wants to buy insurance for a brand new vehicle.

While they have to buy third party liability insurance to stay legal in their state, they are not required to buy coverage for their own vehicle if they own it outright.

As a general guideline, if the cash value of the vehicle you are driving is $2,000 or less, it’s probably not worthwhile to put full coverage (collision and comprehensive) in place.

Collision coverage pays for the cost of repairs to the policyholder’s own car, less the deductible the customer has chosen.

Comprehensive coverage pays for losses caused by events other than a collision. It pays out when the car is damaged or destroyed due to these conditions:

  • Severe weather
  • Flooding
  • Fire
  • Acts of vandalism
  • Car theft

When a total loss occurs, the policy pays out based on the car’s cash value, not its replacement value or what the policyholder paid for it.

An older vehicle, like a Ford LTD, will likely not have a high cash value, and a good portion of the premiums that a customer pays reflects the cost to repair or replace a vehicle after a loss.

A car insurance buyer is paying a level premium for a benefit that continues to fall over time.

At some point, the money being paid for collision and comprehensive protection would be better off put into a savings account to pay for a replacement vehicle than being spent on premiums.

Car Insurance for the Ford LTD

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If you want to get the best prices on coverage for a Ford LTD, be prepared to shop around for coverage. Rates will vary from different companies, even for the same type and level of protection.

By taking the time to look at different options, you can get the insurance policy you need at an affordable price.

Each company uses its own formula for determining the level of risk that a particular applicant presents, even if they all consider similar factors when making this determination. An applicant’s prior driving record, age, and gender are all considered when an insurer is working up a quote.

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