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 $1,642 annually for full coverage. Comprehensive costs an estimated $332, collision costs $690, and liability coverage costs $440. Buying just liability costs as little as $510 a year, with insurance for high-risk drivers costing around $3,578. Teens receive the highest rates at $6,128 a year or more.

Average premium for full coverage: $1,642

Rate estimates broken down by individual coverage type:

These estimates include $500 policy deductibles, minimum liability limits, and includes UM/UIM and medical coverage. Rates are averaged for all states and for all Mustang models.

Price Range by Coverage and Risk

Price Range by Location

Your location has a large influence on insurance rates. More rural locations tend to have fewer accident claims than cities with more traffic congestion.

The example below illustrates how location impacts insurance prices.

These examples show why everyone should compare rates for a targeted area and their own personal driving habits, rather than using averaged prices.

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 cheapest rate after discounts is $932
• Drivers who choose higher $1,000 deductibles will pay approximately $232 a year
• The estimated rate for a 40-year-old driver who has $500 deductibles is $1,642
• Selecting pricier low deductibles for comprehensive and collision insurance will cost $2,098
• High-risk insureds with serious driving violations could pay up to $3,578 or more
• The cost with full coverage for a teenage driver for full coverage can cost as much as $6,128 a year

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Auto insurance rates for a Ford Mustang can also vary considerably based on the trim level of your Mustang, your driver profile, and liability limits and deductibles.

A more mature driver with a good driving record and high physical damage deductibles may only pay around $1,500 per year on average for full coverage. Rates are much higher for teen drivers, where even without any violations or accidents they will have to pay at least $6,100 a year. View Rates by Age

If you like to drive fast or you caused a few accidents, you could be paying $2,000 to $2,700 in extra premium per year, depending on your age. Ford Mustang insurance for high-risk drivers can cost around 44% to 136% more than the average policy. View High Risk Driver Rates

Choosing higher comprehensive and collision insurance deductibles could save up to $690 a year, whereas buying more liability protection will increase premiums. Going from a 50/100 bodily injury limit to a 250/500 limit will cost as much as $439 extra every year. View Rates by Deductible or Liability Limit

Where you live makes a big difference in Ford Mustang insurance rates. A 40-year-old driver could pay as low as $1,080 a year in states like Iowa, Maine, and Idaho, or have to pay at least $2,340 on average in New York, Louisiana, and Michigan.

View Chart as Image

With so much variability in rates, the only way to know which company is cheapest is to regularly compare rates and see how they stack up. Every company calculates rates differently, and quoted 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 Cheap Ford Mustang Insurance

Saving money on auto insurance not only requires being a good driver, but also having above-average credit, eliminating unneeded coverage, and qualifying for all possible discounts. Spend time shopping around every couple of years by getting rate quotes from direct carriers like Progressive and GEICO, and also from local exclusive and independent agents.

The following list is a brief summary of the material that was touched on above.

• Consumers who want an increased level of liability coverage will pay approximately $480 each year to go from a minimum limit to higher 250/500 limits
• Drivers age 16 to 20 are the costliest to insure, costing as high as $511 per month if full coverage is included
• Drivers that tend to have accidents or serious violations may pay on average $1,940 more annually than a safer driver
• Increasing deductibles could save up to $700 each year

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