Ford Mustang Insurance Cost Estimate [List of Money Saving Tips]

If you want to buy inexpensive Ford Mustang insurance coverage then you should know that a policy will cost $139 per month ($1,666 per year) on average. Comprehensive, collision, and liability insurance cost around $406, $592, and $470, respectively. Rates are especially high for younger drivers, for example Ford Mustang rates for a 19-year old are $507.41/month.

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Zaneta Wood, Ed.S. has over 15 years of experience in research and technical writing bringing a keen understanding of data analysis and information synthesis to reach a wide variety of audiences. She studied adult education and instructional technology at Appalachian State...

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Reviewed byJoel Ohman
Founder, CFP®https://res.cloudinary.com/quotellc/image/upload/insurance-site-images/ciccom-live/41b5e36b-joel-ohman.jpg

UPDATED: Jul 23, 2020

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Key Takeaways:

  • Full coverage costs around $1,666 a year or $139 each month
  • A liability-only policy costs around $668 a year or $56 each month
  • Highest rates are for teenage drivers at around $6,089 a year or $507 each month
  • Good drivers can save as much as $687 a year by earning policy discounts
  • Ford Mustang insurance costs around $147 more per year than the average vehicle

Ford Mustang car insurance rates cost an average of $1,666 per year, or $139 each month. A few determining factors that make up median Ford Mustang insurance rates include the model year of the car and its safety ratings.

We’ve compiled this helpful article to give you a full understanding of Ford Mustang rates so you can learn a few money-saving tips when you begin comparing quotes.

You can start comparing quotes for Ford Mustang car insurance rates from some of the best car insurance companies by using our free online tool now.

Ford Mustang Insurance Cost

The average Ford Mustang car insurance rates are $1,666 a year or $139 a month.

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Are Ford Mustangs Expensive to Insure?

The chart below details how Ford Mustang insurance rates compare to other sports cars like the Jaguar F-TYPE, Porsche 718 Boxster, and Chevrolet Camaro.

VehicleComprehensiveCollisionLiabilityTotal
Ford Mustang$348$718$420$1,666
Jaguar F-TYPE$508$1102$398$2,166
Porsche 718 Boxster$444$952$338$1,870
Chevrolet Camaro$348$594$372$1,472
Cadillac ATS-V$406$834$398$1,796
Audi TT RS$420$774$338$1,668
Audi R8$594$1338$398$2,488

However, there are a few things you can do to find the cheapest Ford insurance rates online.

What Impacts the Cost of Ford Mustang Insurance?

The Ford Mustang trim and model you choose can impact the total price you will pay for Ford Mustang insurance coverage.

Age of the Vehicle

Older Ford Mustang models generally cost less to insure. For example, auto insurance for a 2020 Ford Mustang costs $1,666, while 2010 Ford Mustang insurance costs are $1,346, a difference of $320.

Model YearComprehensiveCollisionLiabilityTotal
2020 Ford Mustang$348$718$420$1,666
2019 Ford Mustang$332$690$440$1,642
2018 Ford Mustang$320$686$450$1,636
2017 Ford Mustang$308$668$470$1,626
2016 Ford Mustang$298$640$486$1,604
2015 Ford Mustang$282$618$500$1,580
2014 Ford Mustang$270$574$510$1,534
2013 Ford Mustang$260$540$514$1,494
2012 Ford Mustang$248$484$520$1,432
2011 Ford Mustang$232$446$520$1,378
2010 Ford Mustang$224$418$524$1,346

Driver Age

Driver age can have a significant effect on the cost of Ford Mustang car insurance. For example, a 20-year-old driver could pay around $170 more each month for their Ford Mustang car insurance than a 30-year-old driver.

Driver Location

Where you live can have a large impact on Ford Mustang insurance rates. For example, drivers in New York may pay $1,016 a year more than drivers in Seattle.

Your Driving Record

Your driving record can have an impact on the cost of Ford Mustang auto insurance. Teens and drivers in their 20’s with violations on their record see the highest jump in their Ford Mustang auto insurance rates.

Ford Mustang Safety Ratings

The Ford Mustang’s safety ratings will affect your Ford Mustang car insurance rates. See the chart below:

Test TypeRating
Small overlap front: driver-sideAcceptable
Small overlap front: passenger-sideNot Tested
Moderate overlap frontGood
SideGood
Roof strengthGood
Head restraints and seatsGood
Source: Insurance Institute for Highway Safety

Ford Mustang Crash Test Ratings

Ford Mustang crash test ratings will affect your Ford Mustang car insurance rates.

Vehicle TestedOverallFrontalSideRollover
2020 Ford Mustang GT350R 2 DR RWD5 stars5 stars5 stars5 stars
2020 Ford Mustang C RWDN/RN/RN/R5 stars
2020 Ford Mustang 2 DR RWD5 stars5 stars5 stars5 stars
2019 Ford Mustang GT350R 2 DR RWD5 stars5 stars5 stars5 stars
2019 Ford Mustang C RWDN/RN/RN/R5 stars
2019 Ford Mustang 2 DR RWD5 stars5 stars5 stars5 stars
2018 Ford Mustang GT350R 2 DR RWD5 stars5 stars5 stars5 stars
2018 Ford Mustang C RWDN/RN/RN/R5 stars
2018 Ford Mustang 2 DR RWD5 stars5 stars5 stars5 stars
2017 Ford Mustang C RWDN/RN/RN/R5 stars
2017 Ford Mustang 2 DR RWD5 stars5 stars5 stars5 stars
2016 Ford Mustang C RWDN/RN/RN/R5 stars
2016 Ford Mustang 2 DR RWD5 stars5 stars5 stars5 stars
1-5 Star Rating Scale, N/R = No Rating | Source: National Highway Traffic Safety Administration

Ford Mustang Safety Features

The Ford Mustang safety features can help lower insurance costs. According to AutoBlog, the 2020 Ford Mustang has the following safety features:

  • Driver Air Bag
  • Passenger Air Bag
  • Front Head Air Bag
  • Rear Head Air Bag
  • Front Side Air Bag
  • 4-Wheel ABS
  • 4-Wheel Disc Brakes
  • Brake Assist
  • Electronic Stability Control
  • Daytime Running Lights
  • Traction Control
  • Lane Departure Warning
  • Lane Keeping Assist

Ford Mustang Insurance Loss Probability

Review the Ford Mustang car insurance loss probability rates for collision, property damage, comprehensive, PIP, MedPay, and bodily injury. The lower percentage means lower Ford Mustang auto insurance costs; higher percentages mean higher Ford Mustang auto insurance costs.

Insurance Coverage CategoryLoss Rate
Collision75%
Property Damage-20%
Comprehensive31%
Personal Injury9%
Medical Payment36%
Bodily Injury17%
Source: Insurance Institute for Highway Safety

Ford Mustang Finance and Insurance Cost

If you are financing a Ford Mustang, most lenders will require your carry higher Ford Mustang coverage options including comprehensive coverage, so be sure to shop around and compare Ford Mustang auto insurance quotes from the best auto insurance companies using our FREE tool below.

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Ways to Save on Ford Mustang Insurance

If you want to reduce the cost of your Ford Mustang insurance rates, follow these tips below:

  • Compare Apples to Apples When Comparing Ford Mustang Insurance Quotes and Policies
  • Re-Check Ford Mustang Quotes Every 6 Months
  • Ask About Loyalty Discounts
  • Understand the Different Types of Auto Insurance for Your Ford Mustang
  • Buy a Ford Mustang with an Anti-Theft Device

Top Ford Mustang Insurance Companies

Several insurance companies offer competitive rates for the Ford Mustang based on factors like discounts for safety features. Take a look at these top car insurance companies that are popular with Ford Mustang drivers organized by market share.

RankCompanyVolumeMarket Share
1State Farm$65,615,1909.3%
2GEICO$46,106,9716.6%
3Progressive$39,222,8795.6%
4Liberty Mutual$35,600,0515.1%
5Allstate$35,025,9035.0%
6Travelers$28,016,9664.0%
7USAA$23,483,0803.3%
8Chubb$23,388,3853.3%
9Farmers$20,643,5592.9%
10Nationwide$18,442,1452.6%
Source: Insurance Information Institute

Compare Free Ford Mustang Insurance Quotes Online

You can start comparing quotes for Ford Mustang auto insurance rates from some of the best auto insurance companies by using our free online tool now.

To go directly to a specific section, click below:

How much does car insurance cost for a Ford Mustang?

Before you compare Ford Mustang car insurance quotes by entering your zip in on the side of the page, read on to learn some information about the history of the Mustang and the approximate cost of Ford Mustang auto insurance rates.

Find insurance quotes for Mustangs and make sure you are getting the best deal possible for your insurance!

The very first Mustang concept car was shown in 1962 as a V4 two-seater. A four-seater was then revealed in 1963 during the Grand Prix in New York.

On April 17, 1964, at the New York World Fair, Ford unveiled their production Mustang which was released for sale the very same day. Geared to attract the baby boomers, the production Mustang was sleek and attractive and available as either a coupe or a convertible.

While the Mustang has faced many changes during the last 50+ years, it still remains a popular choice for people who want a good-looking car at an affordable base price.

Depending on the make and model Mustang you own, your personal information, and some general baselines for car insurance for a Mustang in your state, insurance can vary, ranging anywhere from $500 to $2,000 per year.

Before you decide to buy car insurance, be sure to shop around and compare rates.

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What is the average cost for car insurance on a Ford Mustang?

 image source

image source

We gathered quotes from two states, Maine, the cheapest state for car insurance, and Louisiana, the most expensive state for car insurance. You can expect your quotes to be somewhere between these. You can read all our data right here.

The following is a summary of the quotes for a 2017 Ford Mustang:

Demographic InformationBasic Plan per month - liability onlyChoice Plan per month- liability, comprehensive, and collision with $500 deductible (except 25-year-olds in Maine who have a $1,000 deductible)Recommended Plan per month- liability, comprehensive, and collision with $500 deductible
MAINE 25-year-old male$42.48$86.19$101.74
LOUISIANA 25-year-old male$112.69
$247.39$379.58
MAINE 25-year-old female$44.15$83.78$98.41
LOUISIANA 25-year-old female$125.03$250.55$414.75
MAINE 55-year-old male$38.59$82.85 $86.37
LOUISIANA 55-year-old male$101.02$195.04$320.57
MAINE 55-year-old female$41.19$83.41$87.48
LOUISIANA 55-year-old female$112.86$203.04$359.41
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For a mid-level insurance policy, the estimated average premium is about $154 a month, but this varies greatly (as demonstrated above) by where you live and your age.

Car insurance discounts can make a big difference to this price, as well. Conversely, a poor driving history could greatly increase this amount. In fact, rates change all the time.

What you will want to ingrain into your memory is that you shouldn’t just jump on the first low-priced Mustang insurance quote that you come across.

There are scores upon scores of car insurance companies that offer coverage for Ford Mustangs, both classic Mustangs, and brand new Mustangs. So, spend a few moments researching your options online before jumping the gun to buy a policy.

The History of the Ford Mustang

image source

image source

The original Ford Mustang totaled more than 181 inches in overall length and shared the same suspension as its manufacturing counterpart, the Falcon. However, unlike the Falcon, it had a longer hood with a lower roof, giving it a sportier look.

Its appearance was made further unique by dividing the tail lights into three sections and adding scallops along the side. Add the telltale running horse to the grille, and the Mustang was an instant sensation.

While the Mustang looked fancy and sporty, its basic engines were little more than any standard vehicle with a horsepower ranging from 101 all the way up to 116.

V8 engine models ranged in horsepower from 164 to 220 and the K-Code High-Performance version boasted 271 horsepower.

With these various options available during its first year of production, Ford sold over 126,000 coupes and convertibles, with the V8 engines topping the sales.

The very next year took Ford by storm, selling over 559,000 coupes, fastbacks, and convertibles. Sales continued to increase with more than 607,000 Mustangs sold in 1966.

While 1966 was the best year of Mustang sales in history, Ford continued to have successful growth throughout their production history of the Ford Mustang and it still continues to have great success today.

The 2018 Mustang was released in October of 2017. Although the Mustang led the pack of similar sports cars in 2017 with 74,152 sales, the first half of the year, sales were actually down 30 percent due to the anticipated launch of the 2018 model.

Key Statistics for the 2018 Ford Mustang

2018 Ford MustangSpecifications
Starting MSRP Coupe$25,585
Starting MSRP Convertible$31,085
Seating4
City mileage21
Highway mileage31
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Insurance for a Classic Mustang

Classic cars are often a valuable asset in someone’s collection and need to be insured correctly. Your use of the car will be a large determining factor in the type and cost of insurance you purchase for it.

Collector car insurance is like regular car insurance, but it offers several additional types of protection options.

Additional Car Insurance Options for Classic Cars
Classic Car InsuranceDetails
Specialized RepairClassic cars that are intended to remain classics may require using a trained mechanic for repairs and may also need specialized restoration. When comparing insurance on a Mustang, make sure you take the time to get all the details. You may want to consider insuring your classic car to cover repairs and restorations.
Transport coverageIf you plan to take your car overseas, you will need optional insurance coverage for transport.
Car show coverageClassic cars that are used in car shows or club events are at risk for damage that could occur while on the premises and should be covered for these affairs as well.
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Your estimated annual driving mileage will impact the cost of your car insurance for your Ford Mustang.

If you only intend to drive your classic car for the occasional Sunday drive or for special events you may find your Ford Mustang insurance rates will be less than you expected.

Some insurance companies will offer auto insurance for a car with less than 2,500 annual driving miles for only $500 a year.

Not all cars qualify as a classic car. Some insurance companies require a car to be 25 or 30 years old in order to qualify for classic car insurance. Other collector car insurance requirements may involve proving the availability of a secondary car for daily use.

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Insuring a Modern Car

It may be surprising to find that a modern car costs more to insure than a classic car, but that is often the case. That is because modern cars are typically driven on a daily basis for multiple purposes.

The average use of a typical car is over 7,000 miles a year and everyday-use cars are exposed to greater risk on a regular basis.

High-performance and high-risk cars are automatically more expensive to insure. The average insurance rates for a Mustang can range depending on the driver and drive time.

Minimum liability insurance for a Ford Mustang is required in most states and new cars typically carry collision and comprehensive insurance as well.

Car Insurance Requirements and Coverage Details
Coverage TypeRequired?What It Provides
LiabilityYesFinancial compensation for the damages you cause another party
ComprehensiveYes - if you are financing or leasing your Mustang;
No - if you own you car outright
Covers the cost of damages to your own vehicle from non-accident related damages minus the deductible
CollisionYes - if you are financing or leasing your Mustang;
No - if you own your car outright
Provides financial compensation for your own vehicle damages after an accident minus the deductible
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Take the time to find the best Mustang insurance for your specific need. This will help you out in the long run! If you need help finding an average Ford Mustang insurance cost, make sure you look at previous reviews and prices.

Younger and inexperienced drivers pay more for insurance premiums, along with mature drivers with a negative driving record.

Some states have higher premiums in general for insurance, and where you live within the state can also impact your cost.

Discounts are usually available for equipping your car with safety and security features (such as airbags and an alarm system). These discounts could lower the cost to insure a Mustang.

Based on the different variables, insurance for a Mustang can range between $1,000 and $2,000 per year.

How does what I drive affect my car insurance costs?

driving car on the empty road, travel background

The type of car a person drives can greatly influence how much they pay each month in car insurance. Everything from the year the car was made, its color, how much it costs, and its model affects insurance rates.

The older a car is, the more likely it will cost more to insure since it might not have the most current safety features.

Expensive and luxury brand cars cost more to insure since they cost the insurance company so much more to replace if they are damaged or stolen. A faster model car, like a sports car, will cost more to insure because a driver is more likely to get speeding tickets with this type of car.

Statistically, someone that drives a faster car is also more likely to be involved in an accident.

Even something as insignificant as the car’s color can affect the policyholder’s monthly premiums. Red cars cost more, so that added sticker price might translate into rates that are a little higher as well.

How does where I drive affect my car insurance costs?

If you have ever moved from a more rural area to a city or vice versa, you might have noticed that your car insurance rates changed as well. This is because the type of environment in which you drive and garage your car greatly affects car insurance.

A policyholder that lives in a city will almost always pay more for car insurance than someone that lives in a more rural location.

Cities have more people driving in a smaller area, which is a perfect setting for car accidents. Also, cities have higher crime rates. So if the policyholder lives in the city and parks their car on the street, there is a greater risk of their car being stolen or damaged in some other way.

The only time someone in the country might have higher car insurance rates than a city dweller is if they have a long daily commute or the roads they drive on regularly are more hazardous.

For example, if someone lives in a small town in a mountainous region they might have higher rates because of the added risk of the terrain.

Whether you own a classic car or a modern car, insurance is an inevitable cost. Compare car insurance rates now for FREE by entering your ZIP code! Find insurance rates for Ford Mustangs today and save!

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