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 prices for a Ford Mustang are $1,642 every 12 months with full coverage. Comprehensive insurance costs approximately $332 each year, collision costs $690, and liability is estimated at $440. Liability-only coverage costs approximately $510 a year, with high-risk coverage costing $3,578 or more. 16-year-old drivers cost the most to insure at $6,128 a year or more.

Average premium for full coverage: $1,642

Policy rates by type of insurance:

Prices include $500 policy deductibles, split liability limits of 30/60, and includes uninsured motorist and medical coverage. Prices are averaged for all U.S. states and Mustang models.

Price Range Variability

Urban vs. Rural Price Range

Living in a larger city can make a big difference on the price of insurance. Rural locations are shown to have more infrequent collision claims than congested cities.

The graphic below illustrates how location impacts auto insurance prices.

The examples above demonstrate why all drivers should get quotes using their specific location and their own driving history, instead of making a decision based on rate averages.

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

Additional Rate Information

The chart below details estimated Ford Mustang insurance rates for additional coverage and risk scenarios.

• The best full coverage rate is $932
• Choosing higher $1,000 deductibles can save $232 annually
• The average price for a good driver age 40 who chooses $500 deductibles is $1,642
• Buying low deductibles for comp and collision coverage costs an extra $456 annually
• Higher-risk drivers with multiple tickets or accidents could pay around $3,578 or more
• Policy cost to insure a 16-year-old driver can cost $6,128 each year

View Chart as Image

Insurance rates for a Ford Mustang also range considerably based on liability limits and deductibles, your driving record, and the model of your Mustang.

Opting for high physical damage deductibles can save as much as $690 annually, whereas increasing liability limits will push rates upward. Moving from a 50/100 liability limit to a 250/500 limit will raise rates by up to $439 more each year. View Rates by Deductible or Liability Limit

More mature drivers with no violations or accidents and higher deductibles may pay as low as $1,500 annually on average, or $125 per month, for full coverage. Rates are highest for teenagers, since even excellent drivers should be prepared to pay in the ballpark of $6,100 a year. View Rates by Age

If you have a few points on your driving record or you were responsible for an accident, you may be forking out anywhere from $2,000 to $2,700 additional every year, depending on your age. Insurance for high-risk drivers ranges from 44% to 136% more than the average rate. View High Risk Driver Rates

Your home state plays a big part in determining prices for Ford Mustang insurance prices. A good driver about age 40 could pay as low as $1,180 a year in states like Utah, Ohio, and New Hampshire, or at least $2,220 on average in New York, Michigan, and Florida.

View Chart as Image

Because rates have so much variability, the best way to find out who has the cheapest auto insurance rates is to do a rate comparison from multiple companies. Each auto insurer utilizes a different rate formula, and rates will be varied.

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 Shop for the Right Ford Mustang Insurance

Finding cheaper rates on insurance for a Ford Mustang takes being a good driver, having above-average credit, not filing small claims, and qualifying for all possible discounts. Spend time shopping around at least once a year by obtaining price quotes from direct companies, and also from insurance agencies where you live.

The following list is a quick rundown of the primary concepts that were touched on above.

• You may be able to save around $200 per year simply by quoting online in advance
• Drivers considered higher risk with reckless driving or DUI convictions could be forced to pay on average $1,940 more per year than a safer driver
• Increasing comprehensive and collision deductibles could save as much as $700 each year
• Drivers age 16 to 20 are the costliest to insure, as much as $511 each month if full coverage is included

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