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.

Average auto insurance rates for a Ford Mustang are $1,636 annually for full coverage insurance. Comprehensive insurance costs on average $320 a year, collision costs $686, and liability coverage is estimated at $450. A policy with just liability insurance costs approximately $518 a year, with coverage for high-risk drivers costing $3,564 or more. 16-year-old drivers receive the highest rates at $6,134 a year or more.

Average premium for full coverage: $1,636

Rate estimates by individual coverage type:

Price estimates include $500 policy deductibles, liability coverage up to 30/60, and includes medical and UM/UIM coverage. Rates are averaged for all 50 states and Mustang trim levels.

Price Range by Coverage and Risk

Price Range by Location

Living in a larger city has a large influence on insurance rates. Rural areas tend to have fewer physical damage claims than congested cities.

The diagram below illustrates how geographic area affects car insurance rates.

These examples illustrate why it is important to get quotes based on a specific location and their own personal driving habits, rather than using rate averages.

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

More Rate Details

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

• The best full coverage rate is $927
• Choosing higher $1,000 deductibles can save around $1,406 each year
• The estimated rate for a 40-year-old driver with $500 deductibles is $1,636
• Buying low $100 deductibles for comp and collision coverage costs an additional $446 each year
• Drivers with multiple tickets or accidents could pay upwards of $3,564 or more
• The cost with full coverage for a teenage driver may cost $6,134 each year

View Chart as Image

Insurance rates for a Ford Mustang can also vary considerably based on the trim level of your Mustang, your risk profile, and policy deductibles and limits.

Older drivers with no violations or accidents and high physical damage deductibles may only pay around $1,500 annually on average for full coverage. Rates are highest for teen drivers, where even without any violations or accidents they should be prepared to pay upwards of $6,100 a year. View Rates by Age

If you like to drive fast or you caused a few accidents, you are probably paying at a minimum $2,000 to $2,700 additional per year, depending on your age. A high-risk auto insurance policy ranges around 44% to 136% more than the average rate. View High Risk Driver Rates

Opting for high physical damage deductibles can save as much as $680 a year, while buying higher liability limits will cost you more. Switching from a 50/100 bodily injury limit to a 250/500 limit will cost as much as $448 more each year. View Rates by Deductible or Liability Limit

Where you live plays a big part in determining prices for Ford Mustang insurance rates. A good driver about age 40 could pay as low as $1,070 a year in states like Vermont, Wisconsin, and North Carolina, or at least $2,200 on average in Michigan, New York, and Florida.

View Chart as Image

With so much variability in rates, the only way to figure out exactly what you will pay is to get quotes and see how they stack up. Each auto insurer utilizes a different rate formula, and rates can be significantly 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 Cheaper Ford Mustang Insurance

Saving money on auto insurance takes being safe and accident-free, having good credit, avoid buying unnecessary coverage, and insuring your home and auto with the same company. Invest the time to compare rates every time your policy renews by getting rate quotes from direct insurance companies like Progressive and GEICO, and also from local exclusive and independent agents.

Below you'll find a condensed summary of the information presented in the illustrations above.

• It is possible to save as much as $200 per year simply by quoting early and online
• Youthful drivers pay higher rates, costing up to $511 per month if they have full coverage
• Increasing deductibles could save up to $675 each year
• Drivers with multiple at-fault accidents may pay on average $1,930 more each year than a low-risk driver
• Consumers who require more liability protection will pay around $500 annually to raise limits from a minimum limit to higher 250/500 limits

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