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 for full coverage. Comprehensive insurance costs an estimated $320 each year, collision insurance costs $686, and liability costs around $450. Buying just liability costs as low as $518 a year, and insurance for high-risk drivers costs $3,564 or more. 16-year-old drivers pay the highest rates at up to $6,134 a year.

Average premium for full coverage: $1,636

Price estimates broken down by individual coverage:

Prices include $500 deductibles, bodily injury liability limits of 30/60, and includes both medical and UM/UIM coverage. Estimates are averaged for all states and Mustang models.

Price Range from Low to High

Geographic Price Range

Where you live can have significant affects on insurance rates. More rural locations have fewer accident claims than congested cities. The graphic below illustrates the effect of geographic area on insurance prices.

The ranges above show why all drivers should compare prices for a targeted area and their own personal driving habits, instead of using rate averages.

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

Rate Comparisons

The chart below shows average Ford Mustang insurance rates for other coverage scenarios.

• The best full coverage rate is $927
• Using higher $1,000 deductibles will save approximately $230 a year
• The estimated rate for the average middle-age driver who has $500 deductibles is $1,636
• Buying low deductibles for physical damage coverage costs an additional $446 every year
• Drivers with multiple tickets or accidents could pay up to $3,564
• The price with full coverage for a teen driver can cost as much as $6,134 or more

View Chart as Image

Insurance prices for a Ford Mustang are also quite variable based on the trim level and model year, your driver profile, and liability limits and deductibles.

More mature drivers with no violations or accidents and high physical damage deductibles may pay as little as $1,500 a year for full coverage. Prices are highest for teenage drivers, where even without any violations or accidents they should be prepared to pay at least $6,100 a year. View Rates by Age

If you have some driving violations or you caused a few accidents, you could be paying $2,000 to $2,700 additional each year, depending on your age. 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 increasing liability limits will increase premiums. Going from a 50/100 bodily injury limit to a 250/500 limit will increase prices by as much as $448 more each year. View Rates by Deductible or Liability Limit

The state you live in 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 Iowa, Maine, and Idaho, or at least $2,330 on average in New York, Louisiana, and Michigan.

View Chart as Image

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 Right Ford Mustang Insurance

Getting lower rates on car insurance requires not taking risks behind the wheel, having good credit, eliminating unnecessary coverage, and possibly raising deductibles. Take the time to compare rates every other policy renewal by getting quotes from direct carriers like GEICO, Progressive, and Esurance, and also from local exclusive and independent agents.

The following is a quick rundown of the ideas that were covered in the above illustrations.

• Teens are expensive to insure, with premiums as much as $511 a month if they have full coverage
• Higher risk drivers with reckless driving or DUI convictions may pay on average $1,930 more annually for Mustang insurance
• Increasing physical damage deductibles could save up to $675 each year
• Drivers can save approximately $200 per year just by quoting online in advance

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