Are Ford Mustangs expensive to insure? [Rates + Coverage Guide]

Are Ford Mustangs expensive to insure? The average Ford Mustang car insurance rates are $139 per month or $1,666 annually. However, your driving record, age, and ZIP code will also impact what you pay for your annual premiums. If you want to buy cheap Ford Mustang insurance coverage, compare rates from multiple insurance companies and look at available discounts you might qualify for.

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D. Gilson is a writer and author of essays, poetry, and scholarship that explore the relationship between popular culture, literature, sexuality, and memoir. His latest book is Jesus Freak, with Will Stockton, part of Bloomsbury’s 33 1/3 Series. His other books include I Will Say This Exactly One Time and Crush. His first chapbook, Catch & Release, won the 2012 Robin Becker Prize from Seve...

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Leslie Kasperowicz holds a BA in Social Sciences from the University of Winnipeg. She spent several years as a Farmers Insurance CSR, gaining a solid understanding of insurance products including home, life, auto, and commercial and working directly with insurance customers to understand their needs. She has since used that knowledge in her more than ten years as a writer, largely in the insuranc...

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Reviewed by Leslie Kasperowicz
Farmers CSR for 4 Years

UPDATED: Feb 5, 2021

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The Highlights

  • Are Ford Mustangs expensive to insure? Full coverage car insurance on a Mustang costs an average of $139 per month or $1,666 a year.
  • A liability-only policy on a Ford Mustang costs around $56 per month or $668 annually.
  • The highest car insurance rates for a Ford Mustang are for teenage drivers at around $507 per month or $6,089 a year. But good drivers can save as much as $687 a year by earning policy discounts.
  • Ford Mustang car insurance costs around $147 more per year than the average vehicle.

Are Ford Mustangs expensive to insure? It depends on who’s driving. The average Ford Mustang insurance rates are around $147 more per year than the average vehicle.

Full coverage insurance on a Mustang costs about $139 per month or $1,666 annually. But teens and other high-risk drivers will pay much more. Good drivers can save up to $687 a year in policy discounts by staying safe and courteous while out on the roadways.

Read through our comprehensive Ford Mustang car insurance guide to learn how your rates are calculated and how to compare car insurance quotes from multiple providers. We’ll also take a quick look at Ford Mustang insurance rates, crash test ratings, and more.

You can start comparing Ford Mustang car insurance rates from some of the best car insurance companies by entering your ZIP code into our free quote tool above.

What is the average cost of Ford Mustang car insurance?

How much does it cost to insure a Ford Mustang? The average Ford Mustang car insurance rates are $1,666 a year or $139 a month.

However, many different factors go into calculating car insurance rates, so your quotes could look very different. Where you live, your age and even your driving record will also be considered.

See more details about the Ford Mustang insurance rates in the graph below.

As you can see, many different variables go into determining car insurance costs for the Ford Mustang.

Read on to learn everything you need to know to help you secure cheap Ford Mustang car insurance.

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Are Ford Mustangs expensive to insure?

How much is insurance for a Mustang? On average, drivers pay $139 per month or $1,666 annually for coverage.

The Ford Mustang drives like a sports car, although it’s considered a sedan in the eyes of your insurance provider. This is actually good news, as sports car insurance is notoriously higher priced than other vehicle-types.

But how do Ford Mustang car insurance rates compare to other vehicles in the same class?

The table below details how the Ford Mustang insurance rates compare to other sports cars like the Porsche 718 Boxster, Chevrolet Camaro, and Audi TT RS.

Ford Mustang Average Annual Car Insurance Rates by Coverage Level Compared to Similar Vehicles
Vehicle Make and ModelComprehensiveCollisionLiabilityTotal
Chevrolet Camaro$348$594$372$1,472
Ford Mustang$348$718$420$1,666
Audi TT RS$420$774$338$1,668
Cadillac ATS-V$406$834$398$1,796
Porsche 718 Boxster$444$952$338$1,870
Porsche 911$482$1,042$398$2,080
Jaguar F-TYPE$508$1,102$398$2,166
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Of the similar vehicles on our list, only the Chevrolet Camaro is cheaper to insure on average than the Mustang. For a sporty coupe, this is a reasonably priced option.

Fortunately, there are a few things you can do to find even cheaper Ford Mustang car insurance.

Comparing rates online from multiple providers and seeking out different discounts can help you lower your premium drastically.

What impacts the cost of Ford Mustang insurance?

Many different factors will influence your Ford Mustang car insurance costs. Some things have to do with your vehicle, other things are more about you as the driver.

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

However, your driving record, age, and even where you live will also be factored into your costs. Keep reading to look at each of these factors in further detail.

Does model year impact your Ford Mustang car insurance rates?

Older Ford Mustang models generally cost less to insure than newer models. This is generally the case no matter what type of vehicle you drive.

For example, car insurance for a 2020 Ford Mustang costs $1,666, while the older 2010 Ford Mustang insurance costs are $1,346, a difference of $320.

In the table below, check out the average annual car insurance rates for the Ford Mustang by coverage level for various model years.

Ford Mustang Average Annual Car Insurance Rates by Model Year
Ford Mustang 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
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Older vehicles usually cost less to insure because those cars cost less to replace and repair.

New cars may sometimes be safer, but the new technology can be pricy to replace, increasing the cost of car insuracne.

Does driver age impact your Ford Mustang car insurance rates?

Driver age can have a significant impact on Ford Mustang car insurance rates.

For example, 20-year-old drivers pay approximately $2,038 more each year for their Ford Mustang car insurance than 30-year-old drivers.

The best car insurance for teens will be different than for older drivers, and even senior drivers.

See what we mean in the graph below.

Older drivers have more experience than younger drivers, and insurance companies know this.

Statistically, older drivers also cause fewer accidents and drive less recklessly than teens and drivers under the age of 25.

Therefore, the older you are, usually, the lower your insurance rates get.

Does your ZIP code impact your Ford Mustang car insurance rates?

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

See what we mean in the graph below.

Why does your location impact your Ford Mustang insurance rates so heavily?

Not only do car insurance laws and regulations vary by state, but auto theft rates and population density can also put you at a higher or lower risk, depending on where you live.

If you park your car on a busy city street where vehicle theft rates are higher than average, you’ll receive higher than average insurance quotes to mitigate the extra risks associated with where you live.

Does your driving record impact your Ford Mustang car insurance rate?

Your driving record can have an impact on the cost of your Ford Mustang car insurance. A single traffic violation can double your annual premiums.

In the graph below, see how a bad driving record can impact your Ford Mustang insurance costs.

Teens and drivers in their 20s see the highest jump in their Ford Mustang car insurance with violations on their driving record.

What are the Ford Mustang safety ratings?

Insurance companies will look at the safety ratings of your vehicle make and model in order to provide you with an accurate insurance quote.

In other words, your Ford Mustang car insurance rates are tied to the safety ratings of the Ford Mustang.

In the table below, take a look at the 2021 Ford Mustang safety ratings as determined by the Insurance Institute for Highway Safety (IIHS).

2021 Ford Mustang Safety Ratings
Safety Test TypeRating
Small overlap front: driver-sideAcceptable
Small overlap front: passenger-sideNot Tested
Moderate overlap frontGood
SideGood
Roof strengthGood
Head restraints and seatsGood
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“Good” is the highest possible score given by the IIHS. While the diver’s side small overlap front crash test only received an “Acceptable” rating, the two-door coupe performed nearly perfect in every other category.

Your car insurance rates will already positively reflect these great safety ratings.

What are the Ford Mustang crash test ratings?

Like safety ratings, insurance providers will also consider the Ford Mustang crash test results when calculating your car insurance rates.

Not only do good Ford Mustang crash test ratings mean you are better protected in a crash, but good Ford Mustang crash ratings also mean cheaper insurance rates.

In the table below, check out the different Ford Mustang crash test ratings for various model years and trim levels as performed by the National Highway Traffic Safety Administration (NHTSA).

Ford Mustang Crash Test Ratings by Model Year and Trim Level
Ford Mustang Model Year 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
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A 5-star rating is the highest score awarded by the NHTSA. Of the model years and trim levels that were tested, the Ford Mustang performed extremely well.

Your car insurance rates are already lower than average for sporty coupes, in large part because of the Mustang’s great crash-test results.

What are the Ford Mustang safety features?

The numerous safety features of the Ford Mustang may help contribute to lower insurance rates.

Currently, 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

Inform your insurance provider about the safety features and anti-theft devices you have equipped on your Ford Mustang. You may be eligible for some extra car insurance discount.

What is the Ford Mustang insurance loss probability?

Another contributing factor that affects Ford Mustang car insurance rates is the insurance loss probability for each type of coverage.

The lower the number, the better the loss ratio. Better loss ratios almost always mean cheaper than average car insurance rates.

Check out the Ford Mustang insurance loss probability details by coverage category in the table below.

Ford Mustang Insurance Loss Probability by Coverage Category
Insurance Coverage CategoryLoss Rate
Collision75%
Property Damage-20%
Comprehensive31%
Personal Injury9%
Medical Payment36%
Bodily Injury17%
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The Mustang performs better than average in the category of property damage, which means your liability rates might be better than for other vehicles in the same car class.

However, the collision loss ratio is substantially worse than the average. The same goes for comprehensive coverage and medical payments coverage.

If you require full coverage car insurance on your vehicle, expect your Ford Mustang car insurance rates to be higher than average for collision coverage.

What are the Ford Mustang finance and insurance costs?

Car insurance is legally mandated in almost every state. Usually, some level of liability coverage is required.

But the state minimum car insurance won’t protect your financed Ford Mustang from collisions you’re not at fault for, or for vehicle theft, or damage caused by animals or weather.

Therefore, if you are financing a Ford Mustang, most lenders will require your carry higher Ford Mustang coverage options. This includes full coverage car insurance, like comprehensive and collision coverage.

Full coverage car insurance on the Ford Mustang costs an average of $139 per month or $1,666 a year for an experienced, safe driver.

To ensure you’re paying your best rates, be sure to shop around and compare Ford Mustang car insurance rates from the best companies using one of our free quote tools.

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How can I save on my Ford Mustang car insurance rates?

If you want affordable Ford Mustang car insurance, we have a few easy tips you can follow.

If your provider offers a driver’s education discount, consider signing up for a refresher driving course. This is also a great way for older drivers and teens to lower their already higher than average car insurance costs.

If you plan on moving, compare quotes from companies in your new ZIP code. Car insurance totals vary widely by ZIP code because the laws and regulations are state-mandated.

Once your Ford Mustang is fully paid off, remove any unnecessary coverages to help lower your monthly premiums. This might include GAP insurance or full coverage options like comprehensive and collision insurance.

Finally, ask about what discounts you and your Ford Mustang qualify for. If you’re unhappy with the options you receive from your provider, shop around for a new company.

What are the top Ford Mustang car insurance companies?

Who is the top car insurance company for Ford Mustang insurance rates? While the actual rates you pay will depend on many factors, here are some of the top companies offering Ford Mustang car insurance coverage ordered by market share.

Ford Mustang Car Insurance Companies by Market Share
RankCompanyVolumeMarket Share
1State Farm$65,615,1909.30%
2GEICO$46,106,9716.60%
3Progressive$39,222,8795.60%
4Liberty Mutual$35,600,0515.10%
5Allstate$35,025,9035.00%
6Travelers$28,016,9664.00%
7USAA$23,483,0803.30%
8Chubb$23,388,3853.30%
9Farmers$20,643,5592.90%
10Nationwide$18,442,1452.60%
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Many of these companies offer discounts for security systems and other safety features that the Ford Mustang offers.

To narrow down which of these companies you should use, seek our Ford Mustang car insurance quotes from as many as you can and compare the results.

In the graph below, check out more details about the market shareholdings of the top 10 Ford Mustang car insurance companies.

Remember, the best Ford Mustang car insurance company will provide you with affordable rates without compromising your coverage levels.

You are now a Ford car insurance expert. Refer back to this guide as much as needed while you comparison shop for your best insurance rates.

You are ready to buy Ford Mustang car insurance. Start comparing Ford Mustang car insurance quotes for free by entering your ZIP code into our online comparison tool below.

Are you looking for free insurance quotes?

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