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 $1,636 every 12 months for full coverage. Comprehensive costs an estimated $320 each year, collision costs $686, and liability coverage costs around $450. Liability-only insurance costs as low as $518 a year, with high-risk driver insurance costing around $3,564. Teen drivers cost the most to insure at $6,134 a year or more.

Average premium for full coverage: $1,636

Policy rates broken down by type of insurance:

Price estimates include $500 comprehensive and collision deductibles, split liability limits of 30/60, and includes UM/UIM and medical coverage. Prices are averaged for all states and Mustang models.

Price Range Variability

Urban vs. Rural Price Range

Where you live has a large influence on insurance rates. More rural locations are shown to have more infrequent accident claims than larger metro areas.

The graphic below illustrates how your location can change insurance prices.

The examples above show why all drivers should compare prices for a targeted area and their own driving history, rather than using price averages.

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

Rates by State, City, and Model

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

• The lowest rate with discounts is $927
• Using higher $1,000 deductibles will save approximately $230 a year
• The average price for a good driver age 40 who has $500 deductibles is $1,636
• Choosing low deductibles for physical damage coverage increases the price to $2,082
• Higher-risk drivers with multiple violations and an at-fault accident could pay up to $3,564 or more
• Policy cost to insure a teenage driver can cost as much as $6,134 or more

View Chart as Image

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

Choosing high deductibles could cut rates by as much as $680 a year, whereas increasing liability limits will increase premiums. Going from a 50/100 liability limit to a 250/500 limit will raise rates by up to $448 extra every year. View Rates by Deductible or Liability Limit

More mature drivers with a good driving record and higher deductibles may only pay around $1,500 a year, or $125 per month, for full coverage. Rates are highest for teenagers, since even excellent drivers will have to pay at least $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 could be paying $2,000 to $2,700 in extra premium every year, depending on your age. Insurance for high-risk drivers can be around 44% to 136% more than average. View High Risk Driver Rates

Your home state has a huge impact on Ford Mustang insurance rates. A driver around age 40 might see rates as low as $1,080 a year in states like Iowa, Maine, and Idaho, or as much as $2,330 on average in New York, Louisiana, and Michigan.

View Chart as Image

Because rates have so much variability, the only way to know which auto insurance is cheapest is to do a rate comparison and see how they stack up. Each insurance company uses a different rate calculation, and quoted 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 Cheaper Ford Mustang Insurance

Finding cheaper rates on auto insurance requires having a decent driving record, having a good credit score, avoid buying unnecessary coverage, and qualifying for all possible discounts. Invest the time to shop around at least once a year by obtaining price quotes from direct carriers, and also from several local insurance agents.

The following items are a condensed summary of the primary concepts that were illustrated above.

• Drivers can save approximately $200 per year simply by quoting online in advance
• Drivers with multiple at-fault accidents pay on average $1,930 more annually than a driver with a clean driving record
• Increasing comprehensive and collision deductibles could save as much as $675 each year
• 16 to 18-year-old drivers are the costliest to insure, costing up to $511 each month if comprehensive and collision insurance 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