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.
Mustangs have always been about speed, but safety is also a big factor. The 2015 Mustang achieved a 5-star safety rating from the National Highway Traffic Safety Administration when it comes to crash testing.
Despite a high safety rating, Mustangs are built for speed and can be expensive to insure. If you are in the market for a new Mustang or already own one, you know the premium for one of these cars can be steep.
Protecting your dream car with the proper amount of insurance is key. Luckily, we are here to help you with any questions you might have about Mustang insurance.
An independent agent in our network 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.
Why Is It So Expensive to Insure a Mustang?
It’s not just insurance that makes a Mustang an expensive car to own. The total cost of ownership over the course of five years is almost $35,000 for a V-6 coupe. Insurance costs are roughly 14% of ownership costs, coming in at $4,891. Fuel is another major expense, running $8,567 over the course of five years.
There are a few factors that run up the insurance cost of the Mustang. Protection for backseat passengers is a bit lacking, and injury risks, along with the accompanying medical bills, are a big red flag for insurers.
Security is another factor that can drive up the cost of insurance. Mustangs are a big bright shiny target for thieves, and while the Mustang comes standard with a basic alarm system, more extensive security measures are an expensive option.
Adding a more high-tech security system or a Lo-Jack can result in a significant discount on your premium.
Consult with an independent agent in the Trusted Choice network for advice on what you can do to lower the cost of Mustang insurance.
How to Keep Costs of Owning a Mustang Low
There are a few things you can do to bring down the cost of owning a Mustang. The first thing to consider is how much Mustang you really need. A 4-cylinder base model sips gasoline when compared to the V-8, and the insurance premium is significantly lower.
Here are a few other tips to lower your ownership costs:
- Drive Efficiently: It’s going to be hard to resist putting your foot down in a muscle car like the Mustang, but if you can avoid rapid acceleration and drive the speed limit, your gas bill will drop.
- Overdrive: If your Mustang has an overdrive button, use it. This will lower the engine speed and improve fuel economy.
- Maintain Tire Pressure: Keeping your tires properly inflated not only increases gas mileage, it also increases the lifespan of your tires, which can be expensive to replace.
- Maintain your Mustang: While the Mustang actually scores points for very reasonable maintenance costs, properly maintaining your vehicle will further lower ownership costs. Use synthetic oil and have the oil changed on a regular basis. Regular tune-ups will keep the car running great, save on maintenance costs and improve fuel efficiency.
When it comes to Mustang insurance, you can expect to pay more than you would for a boring sedan, but there are a few things you can do to keep your premium cost down. The Mustang’s excellent safety rating helps. Insurers like cars that pass crash tests with flying colors, and the Mustang has a 5-star rating.
Here are a few other ways to cut Mustang insurance costs:
Drive it less: If your Mustang is not your daily ride, but is more of a collector car that hits the road only on clear sunny days, you may be able to save. Most insurers offer a low mileage discount. Consult with a Trusted Choice agent to see if you qualify.
Shop your coverage: The absolutely best way to lower car insurance costs is to shop your coverage on a regular basis. Factors can change, so shopping your coverage annually is highly recommended. A Trusted Choice agent can gather quotes for you and present the best options.
Up your deductible: Doubling your deductible from $500 to $1,000 can shave a significant amount of money off your premium. Be sure you can afford whatever deductible you decide on in case you have to make a claim. Ask your Trusted Choice agent to explain your deducible options.
Where to Find Mustang Insurance Quotes
Regardless of whether you are driving a 4-cylinder base model or the 50th Anniversary Limited Edition Coupe, insurance for Mustangs can be pricey because they are considered sports cars.
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.
Insurers rate risk differently, and finding an agent that is willing to meet your needs will result in the best price. That is why shopping as many insurers as possible is the best way to get a great price on Mustang insurance.
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.