How Much Is Insurance For A Mustang?

Cost of Ford Mustang Insurance | American Muscle

A traditional American muscle automobile is the Ford Mustang. It was initially released in 1964, and it rapidly became the fastest-selling muscle vehicle in American history (selling over 400,000 units the first year). It has continued to be a staple in America ever since.

No matter what year or model your car is, these creatures have been featured in Hollywood blockbusters, are driven by practically every age group and are sure to turn heads.

But for those of you wondering how much it costs to insure a Ford Mustang, they are still going to cost you a little bit more per year than a dated Toyota Camry, even though they are not the most expensive to insure compared to other luxury and sports cars.

We’re here to provide you with all the information you require regarding the average insurance costs that companies charge for Ford Mustangs, the factors that affect these costs, and how to compare car insurance quotes, whether you’re considering buying a Ford Mustang or you’re just curious about how much the average Ford Mustang insurance costs.

How Much is Car Insurance For a Ford Mustang?

The entire cost of your Ford Mustang insurance coverage will differ significantly depending on your age, driving history, the year/model of the vehicle, and the amount of insurance you’re getting. For instance, if you have a 2016 or 2017 Ford Mustang with a V6 engine, you’ll pay a lot less for insurance than someone attempting to get coverage for a brand-new 2022 GT model with an 8-cylinder engine.

Still curious about the cost of Mustang insurance? The cost of Mustang insurance could be high.

Average Cost To Insure A Ford Mustang Per Year

A Mustang’s annual insurance costs are typically between $1,200 and $2,500, or $170 per month or $2,000 per year. It may cost more than twice what the national average is for auto insurance!

These rates are influenced by numerous variables. The age of the driver may be the most important aspect of this whole situation.

It’s no secret that more adolescents and people in their early 20s than almost any other group drive Mustangs. However, young drivers under the age of 25 also have the highest insurance costs. Senior drivers over the age of 65 or drivers over the age of 35 often receive the best coverage auto insurance rates.

Teenagers could pay up to $11,195 on average (Allstate rate) for their Ford Mustang insurance, while adults could pay as little as $804 yearly to cover a brand-new Ford Mustang.

The cheapest car insurance quotes we’ve received for a Ford Mustang were from Plymouth Rock Insurance and GEICO, with average monthly premiums of $70 and annual premiums of $820, respectively.

However, classic Mustangs are among the least expensive sports vehicles to insure.

How Much Does it Cost to Insure a Ford Mustang Per Month?

So, let’s assume that you received quotations for a Mustang GT full-coverage policy at $2,000 a year. Let’s say you start your coverage with a $200 down payment (the anticipated average). The remaining balance, $1,800, must be paid down over the following 11 months.

The Price of a Ford Mustang’s Insurance and the Best Provider

Your choice of the auto insurance provider can have a significant impact on the cost of your Ford Mustang insurance. A Ford Mustang insurance policy will typically cost $1,571, however prices could vary based on the provider. To locate the most affordable vehicle insurance provider, it’s critical to compare quotes from numerous different service providers.

USAA offers insurance at the low end for $1,298 while Allstate has the highest average price at $1,927. Depending on the firm you select, there might be a $629 annual difference.

THE AVERAGE ANNUAL COST OF FORD MUSTANG INSURANCE BY COMPANY

Using a model driver profile, MoneyGeek gathered data on insurance provider rates. In this case, the driver is covered by comprehensive and collision insurance as well as 100/300/100 liability insurance.

Is a Ford Mustang Expensive to Insure?

The price of auto insurance for a specific model is determined by a number of variables by insurers. In general, insurance prices are higher for expensive vehicles, models that are more likely to be in an accident, and/or models that are more likely to be stolen.

Insurance on Ford Mustangs is frequently pricey. According to the most recent data from the National Highway Traffic Safety Administration, Ford Mustangs are classified as sports cars and have high rates of theft. These elements make the model riskier for insurers to cover, which presumably results in increased insurance rates.

The best provider of automobile insurance for a Ford Mustang

When purchasing auto insurance for a Ford Mustang, cost shouldn’t be your sole deciding consideration. To locate the finest auto insurance provider for your requirements, you should also take into account other factors.

Based on consumer complaints, affordability, customer contentment, and financial soundness, MoneyGeek’s ranking system discovered:

  • The best auto insurance for a Ford Mustang is offered by USAA, but only to active-duty military personnel and their families.
  • The second-best provider of insurance for a Ford Mustang is GEICO.

How Much It Costs to Insure a Ford Mustang by Model Year

Older Ford Mustang models typically cost less to insure. This is due to the fact that comprehensive and collision insurance costs decrease when a car’s value decreases.

For a 2005 Ford Mustang, the average cost of car insurance is $1,163, but for a 2020 model, the average is $1,797. That represents a $634 annual difference.

Depending on the model year, many insurers might provide coverage at a lower cost. USAA offers the cheapest insurance for a 2020 Ford Mustang, at $1,555 per year.

To compare rates from several companies, scroll to the model year that applies to you.

How Much It Costs to Insure a Ford Mustang for 16- to 25-Year-Olds

Younger drivers, regardless of the type of vehicle they drive, may have to pay extra for auto insurance due to their lack of driving experience.

An 18-year-old driver’s annual auto insurance average is $5,128 for a Ford Mustang. A 40-year-old driver spends just $1,571 on average for the same vehicle.

By continuing on their parent’s insurance policy, young drivers can save money. Young drivers nearly usually have to pay more for their own auto insurance.

  • The typical Ford Mustang GT insurance premium is around $200 monthly or $2,400 per year.
  • The average cost of insurance for a 2022 Mustang GT is $315 per month or $3,780 annually.
  • The average cost of insurance for a 2021 Mustang GT is $294 per month or $3,528 annually.
  • The average cost of insurance for a 2020 Mustang GT is $270 per month or $3,240 annually.
  • The average cost of insurance for a 2019 Mustang GT is $212 per month or $2,538 annually.
  • The average cost of insurance for a 2018 Mustang GT is $150 per month or $1,800 annually.
  • The average cost of insurance for a 2017 Mustang GT is $97 per month or $1,656 annually.

The majority of insurance providers will either enrol you in a 6-month or 12-month coverage. A longer contract will typically save you some money, but a 6-month coverage will offer you more leeway to later negotiate a lower price or switch insurance providers.

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