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.

Estimated insurance rates for a Ford Mustang are $1,626 a year for full coverage. Comprehensive costs on average $308, collision costs $668, and liability costs around $470. Liability-only coverage costs as low as $536 a year, with high-risk coverage costing around $3,554. Teenage drivers pay the most at $6,144 a year or more.

Average premium for full coverage: $1,626

Premium estimates by type of coverage:

Includes $500 physical damage insurance deductibles, 30/60 liability limits, and includes both medical and UM/UIM coverage. Rates include averaging for all states and for different Mustang trim levels.

Insurance Price Range by Risk and Coverage

Insurance Price Range by Location

Where you live can make a big difference on car insurance rates. Rural areas are statistically proven to have lower incidents of accident claims than densely populated cities.

The price range example below illustrates the difference location can make on car insurance rates.

These rate differences show why anyone shopping for car insurance should compare prices based on a specific location, instead of making a decision based on average rates.

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

Rate Comparisons

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

• The best discount rate is $922
• Using higher $1,000 deductibles will save around $220 a year
• The estimated price for a 40-year-old good driver with $500 deductibles is $1,626
• Using more expensive low deductibles for physical damage coverage bumps up the cost to $2,062
• High-risk insureds who are prone to accidents and violations could pay upwards of $3,554 or more
• An auto insurance policy that insures a 16-year-old driver with full coverage may cost $6,144 or more

View Chart as Image

Insurance prices for a Ford Mustang also have a wide range based on the model year and trim level, how you drive, and policy deductibles and limits.

If you have a few violations or you caused an accident, you could be paying at a minimum $2,000 to $2,700 extra annually, depending on your age. High-risk driver insurance can be from 44% to 137% more than a normal policy. View High Risk Driver Rates

An older driver with a clean driving record and higher comprehensive and collision deductibles may pay as low as $1,500 a year, or $125 per month, for full coverage. Prices are much higher for drivers in their teens, since even teens with perfect driving records can expect to pay upwards of $6,100 a year. View Rates by Age

Where you choose to live has a huge impact on Ford Mustang insurance prices. A driver around age 40 might see prices as low as $1,070 a year in states like Idaho, Maine, and Iowa, or be forced to pay as much as $2,320 on average in Michigan, Louisiana, and New York.

View Chart as Image

Using high physical damage deductibles could cut prices by as much as $660 annually, while increasing your policy's liability limits will cost you more. Going from a 50/100 bodily injury protection limit to a 250/500 limit will cost up to $468 more per year. View Rates by Deductible or Liability Limit

With such a large range in prices, the only way to know exactly what you will pay is to compare prices from multiple companies. Each insurance company uses a different method to calculate prices, so the prices will be substantially 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 Find the Cheapest Ford Mustang Insurance

Finding better rates on insurance for a Ford Mustang requires being a low-risk driver, having above-average credit, not filing small claims, and bundling your home and auto policies. Compare prices at every policy renewal by quoting rates from direct carriers, and also from local exclusive and independent agents.

The items below are a recap of the data touched on in this article.

• Insureds who require more liability coverage will pay an extra $520 each year to increase from 30/60 bodily injury limits to the 250/500 level
• Drivers can save as much as $200 per year simply by shopping early and online
• Increasing policy deductibles can save approximately $650 each year
• Teen drivers pay the highest prices, as much as $512 per month if full coverage 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