Compare the Cost of Ford Mustang Insurance by Model Year and Company

MoneyGeek found that the average cost of insuring a Ford Mustang is $1,571 per year. While not as expensive to insure as some luxury cars, Ford Mustang insurance costs are higher than average by $144 per year. Rates can vary depending on your insurer and the model year of your car, so you should shop around to ensure that you get the best deal possible.

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If you’re looking to purchase insurance for your Ford Mustang, it pays to shop around. Comparing rates from different insurers can help you to secure a better deal since different companies will have varying costs to insure that same car. The cheapest insurer could even change depending on the model year or your driver profile.

Key Takeaways

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It costs an average of $1,571 per year to insure a Ford Mustang, compared to $1,427 for the average car model.

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The cost to insure a Ford Mustang can change by as much as $629 per year depending on the company.

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The cost of insurance for a Ford Mustang can change as much as $634 per year depending on how old your car is, with insurance rates being cheaper for older models.

How Much It Costs to Insure a Ford Mustang and the Cheapest Company

The car insurance company that you choose can have a huge impact on your Ford Mustang insurance rates. The average cost of insurance to insure a Ford Mustang is $1,571, but costs can vary depending on the provider. It's important to compare quotes from many different providers to find the cheapest auto insurance company.

At the low end, USAA offers insurance for $1,298, while Allstate offers the most expensive rates at an average of $1,927. That’s a potential difference of $629 annually depending on which company you choose.

The Average Annual Cost of Ford Mustang Insurance by Company

MoneyGeek collected information about insurance provider rates using a sample driver profile. In this scenario, the driver has 100/300/100 liability insurance with comprehensive and collision coverage.

The Average Cost to Insure a Ford Mustang by Company

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Is a Ford Mustang Expensive to Insure?

Insurers use a variety of factors to determine the cost of car insurance for a given model. Expensive models, models more likely to be in a crash and/or models more likely to be stolen are generally charged higher insurance rates.

Ford Mustangs tend to be expensive to insure. Ford Mustangs are designated as sports cars and have high theft rates, according to the most recent data from the National Highway Traffic Safety Administration. These factors likely lead to higher insurance rates because they make the model riskier for insurers to cover.

The Best Car Insurance Company for a Ford Mustang

Cost shouldn’t be the only factor you consider when buying car insurance for a Ford Mustang. You should also consider other details to find the best car insurance company for your needs.

MoneyGeek’s rating system, based on customer complaints, affordability, customer satisfaction and financial stability, found:

  • USAA is the best company for car insurance for a Ford Mustang, but USAA is only available for military members and their families.
  • GEICO is the second-best insurance company for Ford Mustang insurance.

1
USAA
Score:99

5/5

Affordability

4.5/5

Claims Ratings

5/5

User Satisfaction

5/5

Financial Stability

2
GEICO
Score:87

4.8/5

Affordability

3.5/5

Claims Ratings

3/5

User Satisfaction

5/5

Financial Stability

3
Progressive
Score:81

4.3/5

Affordability

4/5

Claims Ratings

3/5

User Satisfaction

4.5/5

Financial Stability

4
State Farm
Score:81

4.1/5

Affordability

4/5

Claims Ratings

3/5

User Satisfaction

5/5

Financial Stability

5
Allstate
Score:69

3/5

Affordability

4.5/5

Claims Ratings

3/5

User Satisfaction

4.5/5

Financial Stability

How Much It Costs to Insure a Ford Mustang by Model Year

Older versions of a Ford Mustang tend to be cheaper to insure. This is because as a car’s value depreciates, comprehensive and collision insurance becomes less expensive as well.

The average cost of auto insurance is $1,163 for a 2005 Ford Mustang and an average of $1,797 for a 2020 model. That’s a difference of $634 annually.

Different insurers may offer cheaper coverage depending on the model year. The cheapest insurance company for a 2020 Ford Mustang is USAA, at $1,555 annually.

You can scroll to your model year to see how rates from different companies compare.

The Average Cost to Insure a Ford Mustang by Model Year

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  • Company
    Average Annual Rates (2020 model)
    Average Annual Rates (2019 model)
    Average Annual Rates (2018 model)
    Average Annual Rates (2017 model)
    Average Annual Rates (2016 model)
    Average Annual Rates (2010 model)
    Average Annual Rates (2005 model)
  • 1.
    $1,555
    $1,571
    $1,470
    $1,304
    $1,271
    $985
    $933
  • 2.
    $1,588
    $1,541
    $1,531
    $1,397
    $1,357
    $1,100
    $998
  • 3.
    $1,798
    $1,791
    $1,706
    $1,665
    $1,613
    $1,178
    $952
  • 4.
    $1,698
    $1,661
    $1,831
    $1,764
    $1,692
    $1,315
    $1,116
  • 5.
    $1,639
    $1,662
    $1,683
    $1,700
    $1,707
    $1,400
    $1,415

How Expensive Is It to Insure a Ford Mustang Compared to Other Cars?

Driving a Ford Mustang is on the expensive side when it comes to a car insurance policy. It costs an average of $1,571 to insure a Ford Mustang, compared to an average of $1,428 across all models. That said, it’s still well below the average cost for luxury car brands like Tesla.

How Much It Costs to Insure a Ford Mustang for 16- to 25-Year-Olds

Due to their lack of experience on the road, younger drivers may pay more for car insurance no matter what kind of car they drive.

The average cost of car insurance for an 18-year-old driver with a Ford Mustang is $5,128 per year. A 40-year-old driver pays an average of just $1,571 for the same car.

Young drivers can save money by staying on their parents’ policy. It will almost always cost more for young drivers to get their own car insurance.

You can find the cost of car insurance for a young driver from ages 16 to 25 below.

The Average Cost to Insure a Ford Mustang by Driver Age

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  • Age
    Average Annual Rates
  • 16
    $6,574
  • 17
    $5,824
  • 18
    $5,128
  • 19
    $3,673
  • 20
    $3,278
  • 21
    $2,595
  • 22
    $2,390
  • 23
    $2,187
  • 24
    $2,053
  • 25
    $1,863
  • 40
    $1,571

How Does Location Affect the Cost of Ford Mustang Insurance?

While the costs referenced in this article are based on a national average, where you live can significantly impact your car insurance rates. You can learn more about the cost of car insurance in individual states with our state page analysis.

FAQs About Ford Mustang Insurance

The model of your car can significantly impact the cost of your insurance, but it’s only one of many factors insurers take into consideration. Here are some common questions about insuring a Ford Mustang.

Read More About Car Insurance

Methodology

MoneyGeek collected information about insurance provider rates for Ford Mustang GT using a sample driver profile. In this scenario, the driver is a 40-year-old male purchasing a full coverage policy with the following coverages:

  • $100,000 in bodily injury liability insurance per person
  • $300,000 in bodily injury liability insurance per accident
  • $100,000 in property damage liability insurance per accident
  • Comprehensive and collision insurance with a $1,000 deductible

Rates represent averages and can provide guidance on what prices to expect but won’t match your specific rates.

About the Author


expert-profile

Mark Fitzpatrick is a senior content manager with MoneyGeek specializing in insurance. Mark has years of experience analyzing the insurance market and creating original research and content. He graduated from Boston College with a Bachelor of Arts and Johns Hopkins University with a Master of Arts.