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 insurance rates for a Ford Mustang are $1,642 a year including full coverage. Comprehensive insurance costs approximately $332 a year, collision insurance costs $690, and liability is estimated at $440. Buying just liability costs approximately $510 a year, and insurance for high-risk drivers costs $3,578 or more. Teens receive the highest rates at up to $6,128 a year.

Average premium for full coverage: $1,642

Rate estimates by individual coverage type:

Price estimates include $500 comprehensive and collision deductibles, minimum liability limits, and includes medical and UM/UIM coverage. Rates are averaged for all 50 U.S. states and Mustang trim levels.

Price Range by Coverage and Risk

Price Range by Location

Living in a larger city can make a big difference on car insurance prices. Rural locations tend to have a lower frequency of comprehensive and collision claims than cities with more traffic congestion. The diagram below illustrates how geographic area affects auto insurance prices.

These examples highlight why it is important to get quotes using their specific location and risk profile, instead of making a decision based on averaged prices.

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

More Rate Details

The chart below breaks down average Ford Mustang insurance rates for additional coverage and risk scenarios.

• The cheapest rate after discounts is $932
• Choosing higher $1,000 deductibles can save $1,410 every year
• The average rate for a 40-year-old driver who chooses $500 deductibles is $1,642
• Selecting low $100 deductibles for comp and collision coverage will cost an extra $456 annually
• Higher-risk drivers with serious driving violations could pay around $3,578
• The cost for full coverage for a 16-year-old driver can cost $6,128 each year

View Chart as Image

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

Older drivers with a good driving record and high deductibles may pay as low as $1,500 annually on average for full coverage. Rates are much higher for teen drivers, where even good drivers will have to pay in the ballpark of $6,100 a year. View Rates by Age

Where you live plays a big part in determining prices for Ford Mustang insurance prices. A good driver about age 40 could pay as low as $1,260 a year in states like Vermont, New Hampshire, and Missouri, or have to pay at least $2,340 on average in Louisiana, New York, and Michigan.

View Chart as Image

Choosing higher comprehensive and collision insurance deductibles can save as much as $690 annually, while buying higher liability limits will push rates upward. Changing from a 50/100 limit to a 250/500 limit will cost as much as $439 extra every year. View Rates by Deductible or Liability Limit

If you like to drive fast or tend to cause accidents, you are likely paying anywhere from $2,000 to $2,700 in extra premium per year, depending on your age. A high-risk auto insurance policy ranges from 44% to 136% more than the average policy. View High Risk Driver Rates

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 Find Cheaper Ford Mustang Insurance

Saving money on insurance for a Ford Mustang takes avoiding accidents and violations, having good credit, not filing small claims, and possibly higher deductibles. Invest the time to compare rates every couple of years by obtaining price quotes from direct car insurance companies like GEICO and Progressive, and also from insurance agencies where you live.

The list below is a condensed summary of the material that was presented in the illustrations above.

• Insureds who purchase higher liability limits will pay approximately $480 per year to raise limits from a minimum limit to 250/500 limits
• Teenagers have the highest car insurance rates, as much as $511 per month if they have full coverage
• Drivers considered higher risk with multiple at-fault accidents could be forced to pay on average $1,940 more per year for car insurance
• Increasing deductibles can save around $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