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UPDATED: Oct 9, 2018
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- Average Cost to Insure a Mustang
- Insurance Quotes for a 2017 Mustang
- Mustang History
- Insuring a Classic Mustang
- Insuring a Modern Mustang
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.
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.
What is the average cost for car insurance on a Ford Mustang?
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 Information||Basic Plan per month - liability only||Choice 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|
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
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.
|2018 Ford Mustang||Specs|
|Starting MSRP Coupe||$25,585|
|Starting MSRP Convertible||$31.085|
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 Types of Protection|
|Specialized Repair||Classic 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 coverage||If you plan to take your car overseas, you will need optional insurance coverage for transport.|
|Car show coverage||Classic 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.|
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.
|Coverage Type||Required?||What It Provides|
|Liability||Yes||Financial compensation for the damages you cause another party.|
|Comprehensive||Yes - 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.|
|Collision||Yes - 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.|
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.
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?
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!