Ford Mustang Insurance Rates

How much does it cost to insure a Ford Mustang? The average Ford Mustang insurance rates are $138 per month or $1,666 annually. However, many factors impact your average Mustang insurance premiums, like the age of your model. For example, the 2004 Mustang insurance costs will be much lower than the newer 2019 Mustang insurance costs. 

Read through our comprehensive guide to learn how much it is to insure a Mustang compared to other vehicles, and to better understand exactly what does liability insurance cover and why you might need more to protect your sports car. 

When you’re ready to compare the best Ford Mustang insurance quotes near you, simply enter your ZIP code into our free quote tool above to get started.

U.S. average auto insurance rates for a Ford Mustang are $1,636 annually with full coverage. Comprehensive insurance costs an estimated $320, collision costs $686, and liability is $450. Liability-only insurance costs around $518 a year, with high-risk driver insurance costing $3,564 or more. Teen drivers pay the highest rates at $6,134 a year or more.

Average premium for full coverage: $1,636

Price estimates broken down by individual coverage:

Rates are based on $500 policy deductibles, 30/60 split liability limits, and includes both medical and uninsured motorist insurance. Estimates are averaged for all U.S. states and for all Mustang models.

Price Range from Low to High

Geographic Price Range

Choosing to live in a large city can have significant affects on car insurance rates. More rural locations have fewer collision claims than larger metro areas.

The example below illustrates the difference between rural and urban areas on insurance prices.

The ranges above demonstrate why everyone should compare rates quotes for a targeted area and their own personal driving habits, instead of using price averages.

Use the form below to get customized rates for your location.

Additional Rate Details

The chart below details estimated Ford Mustang insurance rates for other coverage scenarios.

• The lowest rate with discounts is $927
• Raising to $1,000 deductibles will save approximately $230 annually
• The estimated rate for the average middle-age driver who has $500 deductibles is $1,636
• Choosing pricier low deductibles costs an additional $446 every year
• At-risk drivers with multiple violations and an at-fault accident could pay up to $3,564 or more
• The price with full coverage for a teen driver for full coverage can cost as much as $6,134

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Car insurance prices for a Ford Mustang are also quite variable based on the trim level and model year, your driving record, and liability limits and deductibles.

A more mature driver with no driving violations and high physical damage deductibles may pay as little as $1,500 every 12 months on average for full coverage. Prices are highest for teenage drivers, where even without any violations or accidents they will be charged at least $6,100 a year. View Rates by Age

If you have some driving violations or you caused a few accidents, you may be forking out $2,000 to $2,700 extra each year, depending on your age. Ford Mustang insurance for high-risk drivers is expensive and can cost as much as 44% to 136% more than average. View High Risk Driver Rates

Choosing high deductibles can reduce prices by up to $680 every year, whereas buying more liability protection will increase premiums. Moving from a 50/100 bodily injury limit to a 250/500 limit will increase prices by as much as $448 extra every 12 months. View Rates by Deductible or Liability Limit

The state you live in also has a big influence on Ford Mustang insurance prices. A middle-age driver might find prices as low as $1,180 a year in states like Utah, Ohio, and New Hampshire, or as much as $2,200 on average in New York, Michigan, and Florida.

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Since prices can be so different, the best way to find out which car insurance is cheapest is to regularly compare prices and see which company has the best price. Every auto insurance company uses a different rate calculation, so rate quotes may be quite different between companies.

Insurance Rates by Trim Level and Model Year

Rates assume 2023 model year, a 40-year-old male driver with no accidents or violations, $500 comprehensive and collision deductibles, minimum liability limits, and uninsured/under-insured motorist coverage included. Rates are for comparison only and are averaged for all 50 U.S. states.

How to Buy the Best Cheap Ford Mustang Insurance

Getting lower rates on car insurance consists of avoiding accidents and claims, having a good credit score, avoid buying unnecessary coverage, and not having any coverage lapses. Set aside time to compare rates at least every other year by getting rate quotes from direct companies like GEICO, Progressive, and Esurance, and also from several local insurance agents.

The points below are a quick review of the car insurance concepts covered above.

• Higher risk drivers with a DUI or reckless driving violation pay on average $1,930 more annually to insure a Ford Mustang
• You may be able to save approximately $200 per year simply by quoting online well ahead of the renewal date
• Increasing physical damage deductibles could save up to $675 each year
• Policyholders who want increased liability limits will pay about $500 every year to raise from a low limit to higher 250/500 limits

So, how much is insurance for a Mustang and is insurance on a Mustang expensive? As you’ve learned from the information above, your average Mustang insurance rates depend on many factors, like where you live, your driving record, and even your age.

It will be tougher for younger drivers to receive cheap Ford Mustang car insurance quotes. You should expect insurance on a Mustang for an 18-year-old will be more expensive than for older drivers, such as Mustang insurance for a 22-year-old. 

If you haven’t bought a car yet, shopping around can also help you find out what model year and build is cheapest. For example, you could compare the model years of the 2004, 2012, 2013, and 2019 Mustang GT insurance costs to determine what best fits your budget. 

Alternatively, you could also compare different builds, like the 2016 Mustang GT insurance rates and the 2014 Mustang V6 insurance costs.

No matter what model you choose, the best way to save on your Ford Mustang insurance costs is to shop around. Start comparing Ford Mustang car insurance rates now, just enter your ZIP code in our free tool below.

What Are the Safety Ratings for the Ford Mustang?

Understanding the Ford Mustang safety ratings and features is a great way to discover car insurance discounts you might qualify for. Insurance companies are also more likely to provide you with cheaper rates if your vehicle comes equipped with reliable safety technology.

Insurance costs can vary depending on the Ford Mustang safety ratings and features. Some of the Ford Mustang’s best safety features include electronic stability control, traction control, lane departure warning, and lane-keeping assist.

Check out the 2021 Ford Mustang Coupe safety ratings below as scored by the Insurance Institute for Highway Safety (IIHS).

• Small overlap front (driver-side): Acceptable
• Moderate overlap front: Good
• Side: Good
• Roof strength: Good
• Head restraints and seats: Good

A rating of ‘Good’ is the highest possible standard given by the IIHS. The Ford Mustang crash test ratings are decent, which will reflect positively in your annual insurance premiums. 

Similar to safety tests, insurance providers will also look at the crash test results of your Ford Mustang when calculating your car insurance rates. In the table below, check out different Ford Mustang crash test ratings by model year and trim level as scored by the National Highway Traffic Safety Administration (NHTSA).

Ford Mustang Crash Test Ratings by Model Year and Trim Level

5-stars is the highest score given by the NHTSA. As you can see, of what models were tested, no Ford Mustangs scored below 4 stars, which proves how reliable this car truly is. 

Before you buy Ford Mustang car insurance, keep in mind that crash-test ratings do sometimes vary by model year, which means insurance for a 2014 Ford Mustang may be different in cost than the 2011 Ford Mustang insurance. We always recommend looking up your specific model year for the most accuracy.

Should you Compare the Ford Mustang to Other Vehicles in the Same Car Class?

Comparing the Ford Mustang to similar vehicles can help you save money, especially if it has better insurance loss ratios than other vehicles in the same car class. 

Officially the Insurance Institute for Highway Safety (IIHS) classifies the Ford Mustang as a midsize sports car. Check out the Ford Mustang insurance loss probability details by category in the table below. Keep in mind that higher numbers mean higher insurance rates, and lower numbers mean cheaper insurance rates.

Ford Mustang Insurance Loss Probability

Unfortunately, the Ford Mustang two-door coupe has substantially worse than average collision insurance loss rates, which means purchasing this coverage type for the Mustang might be higher than average. 

The property damage, personal injury, and medical payment loss ratios are also worse than average, once again leading to higher average car insurance rates for these different types of coverages. 

The comprehensive and bodily injury loss ratios, however, fall within the average range. Because this car is also not too large or heavy, it is less likely to do significant damage to other vehicles in a crash. Therefore, the Ford Mustang usually receives normal liability rates. 

Check out other similar midsize sports cars in the list below to see how those car insurance rates compare to the Ford Mustang:

• Chevrolet Corvette
• Nissan 370Z
• Porsche 911

Because the Mustang is also a sports car, expect your insurance premiums to be a little higher than average, especially if you purchase fuller coverage levels. 

Sports cars tempt drivers to take advantage of the smooth, fast speeds, which can be dangerous and put you at a higher risk of getting into an accident and filing a claim. Therefore, sports cars like the Mustang are often placed into a higher risk category by insurance providers than other types of vehicles. 

You are now ready to secure the cheapest Ford Mustang insurance rates possible. Remember, the best Ford Mustang car insurance company will provide you with affordable rates without compromising your coverage needs. 

Ready to start saving on different Ford Mustang model years, such as 2010, 2011, or 2018 Mustang insurance costs? 

Applying what you’ve learned in this guide is easy. Simply enter your ZIP code in our free quote comparison tool to immediately find the best Ford Mustang insurance costs in your area.
References:

1. https://www.iihs.org/ratings/vehicle/Ford/mustang-2-door-coupe/2021
2. https://www.nhtsa.gov/vehicle/2020/FORD/MUSTANG/2%252520DR/RWD
3. https://www.iihs.org/ratings/insurance-losses-by-make-and-model