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.

The average insurance rates for a Ford Mustang are $1,642 a year for full coverage insurance. Comprehensive insurance costs approximately $332 each year, collision insurance costs $690, and liability insurance costs around $440. A liability-only policy costs as low as $510 a year, and high-risk insurance costs $3,578 or more. Teenage drivers cost the most to insure at up to $6,128 a year.

Average premium for full coverage: $1,642

Policy rates by type of insurance:

Prices include $500 comprehensive and collision deductibles, 30/60 liability coverage, and includes uninsured/under-insured motorist coverage. Prices are averaged for all 50 states and Mustang models.

Price Range Variability

Urban vs. Rural Price Range

Where you live has a significant impact on the price of auto insurance. Rural locations are shown to have a lower frequency of physical damage claims than densely populated cities. The graphic below illustrates how location helps determine auto insurance prices.

The examples above illustrate why all drivers should compare prices using their specific location and risk profile, rather than relying on average rates.

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

More Rate Information

The chart below illustrates average Ford Mustang insurance rates for additional coverage and risk scenarios.

• The best discount rate is $932
• Using higher $1,000 deductibles will save $232 each year
• The average rate for a good driver age 40 who chooses $500 deductibles is $1,642
• Using low deductibles for physical damage coverage will cost an extra $456 a year
• Drivers who are prone to accidents and violations could pay around $3,578
• Policy cost for full coverage for a teen driver can cost $6,128 or more

View Chart as Image

Car insurance rates for a Ford Mustang also range considerably based on your risk profile, the model year and trim level, and physical damage deductibles and liability limits.

More mature drivers with no driving violations and high deductibles could pay as little as $1,500 a year, or $125 per month, for full coverage. Rates are much higher for teenagers, where even good drivers will be charged in the ballpark of $6,100 a year. View Rates by Age

Your home state has a huge impact on Ford Mustang insurance rates. A driver around age 40 might see rates as low as $1,070 a year in states like North Carolina, Wisconsin, and Vermont, or be forced to pay as much as $2,220 on average in Florida, New York, and Michigan.

View Chart as Image

Using high physical damage deductibles could cut rates by as much as $690 each year, whereas increasing liability limits will push rates upward. Switching from a 50/100 limit to a 250/500 limit will raise rates by up to $439 extra every 12 months. View Rates by Deductible or Liability Limit

If you have a few points on your driving record or tend to cause accidents, you are probably paying anywhere from $2,000 to $2,700 extra every year, depending on your age. Insurance for high-risk drivers can be anywhere from 44% to 136% more than a normal policy. View High Risk Driver Rates

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 Find the Right Ford Mustang Insurance

Finding cheaper rates on Ford Mustang insurance requires having a decent driving record, having above-average credit, being claim-free, and attention to physical damage deductibles. Invest time comparing rates every year by getting rate quotes from direct insurance companies like GEICO, Progressive, and Esurance, and also from your local independent and exclusive agents.

The following items are a quick rundown of the coverage data covered in the charts and tables above.

• It is possible to save around $200 per year just by quoting online in advance
• Increasing comprehensive and collision deductibles can save around $700 each year
• 16 to 18-year-old drivers pay the highest auto insurance rates, possibly costing $511 each month if full coverage is included
• High-risk drivers with reckless driving or DUI convictions may pay on average $1,940 more per year than a driver with a clean driving record

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