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 prices for a Ford Mustang are $1,642 every 12 months for full coverage insurance. Comprehensive insurance costs an estimated $332 each year, collision costs $690, and liability costs around $440. A liability-only policy costs as low as $510 a year, with high-risk insurance costing $3,578 or more. Teenage drivers 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:

Prices are based on $500 policy deductibles, liability limits of 30/60, and includes medical and UM/UIM coverage. Rates are averaged for all 50 states and Mustang models.

Price Range by Coverage and Risk

Price Range by Location

Where you live can have significant affects on the price of insurance. More rural locations tend to have more infrequent physical damage claims than densely populated cities.

The graphic below illustrates how location helps determine insurance prices.

These examples illustrate why all drivers should compare prices for a targeted area and their own driving history, instead of using average rates.

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

More Rate Details

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

• The best discount rate is $932
• Using higher $1,000 deductibles will save approximately $232 each year
• The average price for a 40-year-old driver who has $500 deductibles is $1,642
• Using low deductibles for physical damage coverage costs an extra $456 every year
• Drivers who are prone to accidents and violations could pay up to $3,578 or more
• The cost to insure a teen driver can cost as much as $6,128 or more

View Chart as Image

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

Using high physical damage deductibles could cut rates by as much as $690 every year, whereas increasing liability limits will increase premiums. Switching from a 50/100 liability limit to a 250/500 limit will cost as much as $439 more per year. View Rates by Deductible or Liability Limit

More mature drivers with a clean driving record and higher deductibles may pay as little as $1,500 a year for full coverage. Rates are much higher for teen drivers, since even excellent drivers can expect to pay at least $6,100 a year. View Rates by Age

If you like to drive fast or you were responsible for an accident, you are probably paying $2,000 to $2,700 extra per year, depending on your age. Insurance for high-risk drivers can be as much as 44% to 136% more than a normal policy. View High Risk Driver Rates

Where you live has a huge impact on Ford Mustang insurance prices. A driver around age 40 might see rates as low as $1,070 a year in states like North Carolina, Wisconsin, and Vermont, or be forced to pay as much as $2,220 on average in Florida, New York, and Michigan.

View Chart as Image

With so much variability in rates, the only way to figure out which company is cheapest is to do a rate comparison and see which company has the best rate. Each insurance company uses a different method to calculate rates, so the rates can be significantly different.

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 Affordable Ford Mustang Insurance

Saving money on car insurance requires being a good driver, having good credit, avoid buying unnecessary coverage, and taking advantage of discounts. Invest time comparing rates once a year by requesting rates from direct insurance companies like GEICO, Progressive, and Esurance, and also from insurance agencies where you live.

The following list is a brief review of the data that was covered in the charts and tables above.

• It is possible to save approximately $200 per year simply by quoting online in advance
• Policyholders who want an increased level of liability coverage will pay an extra $480 annually to increase from a minimum limit to a 250/500 level
• Drivers age 16 to 20 are charged the highest rates, costing up to $511 per month if they have full coverage
• Higher risk drivers with DUI or reckless driving convictions could be forced to pay on average $1,940 more annually than a safer driver

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