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.

Estimated auto insurance rates for a Ford Mustang are $1,636 annually for full coverage. Comprehensive costs on average $320, collision costs $686, and liability costs around $450. A liability-only policy costs as low as $518 a year, with high-risk insurance costing around $3,564. 16-year-old drivers pay the most at $6,134 a year or more.

Average premium for full coverage: $1,636

Premium estimates by type of coverage:

Full coverage includes $500 physical damage deductibles, minimum liability limits, and includes medical and uninsured motorist coverage. Rates include averaging for all states and for all Mustang models.

Insurance Price Range by Risk and Coverage

Insurance Price Range by Location

Where you live can have significant affects on car insurance rates. Rural areas are statistically proven to have fewer accident claims than congested cities.

The example below illustrates the effect of geographic area on car insurance rates.

These rate differences show why everyone should compare prices based on a specific location and their own personal driving habits, instead of using rate averages.

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

Detailed Rate Analysis

The chart below shows estimated Ford Mustang insurance rates for different risk profiles and scenarios.

• The best full coverage rate is $927
• Using higher $1,000 deductibles will save around $230 a year
• The estimated rate for a 40-year-old good driver with $500 deductibles is $1,636
• Buying pricier low deductibles for physical damage coverage will cost $2,082
• Drivers with multiple tickets or accidents could pay upwards of $3,564 or more
• An auto insurance policy with full coverage for a teen driver for full coverage may cost $6,134 or more

View Chart as Image

Auto insurance prices for a Ford Mustang also have a wide range based on the model of your Mustang, your driver profile, and policy deductibles and limits.

A more mature driver with a good driving record and high physical damage deductibles may pay as little as $1,500 a year, or $125 per month, for full coverage. Prices are highest for drivers in their teens, where even without any violations or accidents they will have to pay upwards of $6,100 a year. View Rates by Age

If you have a few violations or you caused a few accidents, you could be paying at a minimum $2,000 to $2,700 in extra premium annually, depending on your age. Ford Mustang insurance for high-risk drivers can be as much as 44% to 136% more than the average rate. View High Risk Driver Rates

Opting for high physical damage deductibles could cut prices by as much as $680 every year, whereas buying more liability protection will cost you more. Going from a 50/100 bodily injury limit to a 250/500 limit will cost up to $448 extra every year. View Rates by Deductible or Liability Limit

Where you choose to live has a huge impact on Ford Mustang insurance prices. A driver around age 40 might see prices as low as $1,080 a year in states like Idaho, Maine, and Iowa, or at least $2,330 on average in Michigan, Louisiana, and New York.

View Chart as Image

With such a large range in prices, the only way to know exactly what you will pay is to regularly compare prices and see which company has the best price. Each insurance company utilizes a different rate formula, and quoted prices will be substantially 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 More Affordable Ford Mustang Insurance

Finding better rates on car insurance requires being a safe and courteous driver, having above-average credit, not filing small claims, and taking advantage of discounts. Take the time to compare rates every couple of years by obtaining price quotes from direct carriers, and also from local insurance agents.

Below is a summary of the material that was covered in the above illustrations.

• Policyholders who require higher levels of liability will pay around $500 each year to increase from 30/60 bodily injury limits to higher 250/500 limits
• Teenage drivers are charged the highest prices, as much as $511 per month if full coverage is included
• Higher risk drivers who have multiple accidents or major violations may be required to pay an average of $1,930 more each year for auto insurance
• Increasing policy deductibles could save up to $675 each year

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