Ford Mustang Insurance

How to Find the Best Insurance Costs for a Ford Mustang

And how you can get started today

Ford Mustang Insurance

The Ford Mustang has been an American classic for decades. Introduced in 1964, it quickly became one of the most popular muscle cars ever to roll off a production line. While the design and popularity changed over the years, the Mustang is back on top in recent years. If you are in the market for a new Mustang or already own one, you know the car insurance premium for one of these cars can be steep.

Protecting your dream car with the proper amount of insurance is key. Luckily, an independent agent can help you determine your ideal coverage levels and find a Mustang insurance policy that fits your budget while also protecting your car. Find a local agent near you to learn more about Mustang insurance.  

What Kind of Insurance Do You Need for Your Ford Mustang? 

Most insurance companies will consider the Ford Mustang a sports car. This means you'll need to purchase sports car insurance which differs from traditional insurance. Sports car or not, some states will require different minimum coverage, and rates will be impacted by a variety of factors related to you personally and your vehicle. 

Most states mandate the following coverage: 

Bodily injury liability: If you cause an accident in your Ford Mustang, you'll be responsible for medical bills and lost wages for any third-party members involved in the accident. Bodily injury liability pays for these bills up to your policy maximum.

Property damage liability: Property damage liability coverage pays for damage you cause to another person’s vehicle or property while you are driving. As with bodily injury, it will only cover up to your policy max so you'll want to make sure it's an adequate amount.

Many states also require this coverage:

Medical payments/Personal injury protection: Medical payments or (PIP) coverage steps in to pay for expenses associated with medical treatment and lost wages for you and any passengers in the event of an accident. It does not matter whether you're at fault or not in an accident, you can tap into your PIP/medical payments coverage if you have it. 

Uninsured motorist coverage: Many people on the road fail to have adequate insurance coverage.  Uninsured and underinsured motorist coverage helps pay for any damage that may be caused if you're in an accident with an uninsured motorist or a driver without sufficient insurance. 

Optional coverage:

Collision insurance: Carrying collision coverage provides protection if you're in an accident with another vehicle, light pole, structure, or other objects. 

Comprehensive insurance: Many incidents exist outside of collisions. What happens if a tree branch falls on your car, it's engulfed by a fire, or you run into a deer in the mountains? Comprehensive coverage steps in to pay for the damage to your Ford Mustang. 

Glass coverage: Replacing a windshield or paying for rock chips and cracks can cost several hundred dollars. Glass coverage usually is available for a low monthly premium, and pays for a repair or replacement at no cost. 

Gap insurance: If you owe more on your Ford Mustang than it's worth, you may want to consider gap coverage. This covers the difference between what you owe and what the car is worth if a total loss occurs. 

What Affects the Cost of Car Insurance for Your Ford Mustang? 

Annual mileage: Driving a sports car is fun, so if you find yourself joy riding more than the usual driver, you may be paying more for your insurance premium. 

Driving record:  A clean driving record tells the insurance company that you're a low-risk driver. Low-risk drivers tend to get better insurance premiums. The good news is that violations usually fall off car records. In the meantime, an independent agent can help you find the most affordable insurance available. 

The value of your car: The Ford Mustang might not cost as much as a Ferrari, but it will cost you more than a Honda Civic. Naturally, insuring a sports car is more expensive than a more traditional vehicle because of the added features and potential for risks. Depending on the trim, a Ford Mustang can be considered a highly valuable sports vehicle, which means your premiums will reflect this. 

Average Ford Mustang prices
2021$27,155 - $51,720
2020$26,275 - $91,450
2019$23,725 - $55,300
2018$22,000 - $50,000
2017$20,300 - $45,675

The safety of your Ford Mustang

Insurers take into consideration the safety rating and features of your vehicle when determining your insurance premiums. The 2021 Ford Mustang earned five stars from the National Highway Traffic Safety Administration (NHTSA) in a variety of crash tests including: 

  • Overall crash
  • Overall frontal-crash
  • Overall frontal-crash driver
  • Overall frontal-crash passenger
  • Overall side-crash
  • Side-crash driver
  • Side-pole crash
  • Rollover 2WD

It performed similarly well in the Insurance Institute of Highway Safety tests:

  • Front moderate overlap
  • Side crash
  • Rear crash
  • Roof crash

Where you live with your Ford Mustang

Where you live also has an impact on your insurance rates. If you live in a more populated city you are more prone to incidents that could lead to a claim like theft or vandalism. Drivers in rural cities are much less likely to experience the same risks.

Insurance rates by location
Rural areas$1,250
Small cities$1,749
Large cities$2,249

Average cost to insure a Ford Mustang

Even though the Ford Mustang is a sports car, the average annual cost to insure it is $1,666. This is above the national average, but not extremely expensive to insure. However, if you are a high-risk driver or a teen driver, you'll see much higher rates. If you're willing to go for a higher deductible, meaning you'll be financially responsible for more if you file a claim, it will lower your overall premium. 

Average Ford Mustang insurance rates
Teen driver$6,128
High-risk driver$3,578
High-deductible$1,410
Low-deductible$2,098

Which states are most affordable and least affordable for car insurance? 

Estimated annual car insurance premiums in the United States:

Most affordable statesPremium
North Carolina$960
Virginia$998
Maine$1,032
Iowa$1,126
Idaho$1,130
Most expensive statesPremium
Florida$2,086
Rhode Island$2,226
Kentucky$2,274
Louisiana$2,468
Michigan$2,894

How Can You Save on Ford Mustang Car Insurance? 

Luckily, insurance companies offer plenty of ways to help you save money on car insurance, including: 

If you choose a higher deductible, you can lower your premiums a bit as well. 

Top Insurance Companies That Insure the Ford Mustang 

No two insurance companies are exactly alike. It’s important to select an insurer that's reliable, trustworthy, and committed to their customers. The US Independent Insurance Agent Satisfaction Study by J.D. Power awarded the following companies high marks: 

  1. Auto-Owners Insurance
  2. Progressive
  3. Safeco
  4. Travelers

Your independent insurance agent can help you choose a company that is the right fit for your car insurance needs.

Where to Find Mustang Insurance Quotes

High-performance vehicles are always more expensive to insure. They are fast, appeal to buyers who are more comfortable with risk, and tend to be more expensive than run-of-the-mill sedans.

An independent agent can shop a wide variety of insurance companies for you and then review the best options for your car and situation. They can also help make your Mustang insurance affordable by making sure you are getting all of the discounts available to you and bundling your coverages.

An independent agent can do all of the legwork for you, comparing quotes from multiple carriers and then presenting the best combination of price, discounts, and coverage for you. Find a local agent today to start your search for the perfect Mustang insurance policy.

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