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


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ByMark Fitzpatrick
Edited byKathryn Schroeder
ByMark Fitzpatrick
Edited byKathryn Schroeder

Updated: May 20, 2024

Advertising & Editorial Disclosure

Ford Mustang Mach-E insurance costs will vary significantly based on the driver’s age.

MoneyGeek found that a 16-year-old pays an average of $7,016 annually to insure a 2021 model with full coverage, while a 40-year-old pays around $1,568 a year. For a 2022 Ford Mustang Mach-E, a 16-year-old pays an average of $6,894 per year, while a 40-year-old pays roughly $1,557 annually.

We also ranked the best insurers that balance affordability with great customer service and claims handling.

MoneyGeek also analyzed the best Ford Mustang GT insurance and Ford Mustang EcoBoost insurance.

MoneyGeek Logo IconCar Insurance CostsMustang Mach-E
2024

Why Trust MoneyGeek? We collected thousands of car insurance quotes from Quadrant Information Services to analyze average rates for a Ford Mustang Mach-E.

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We updated these rates to reflect the average cost of car insurance for a Ford Mustang Mach-E as of 2023.

10Companies Compared
 
5,976 Quotes Analyzed

Average Cost and Cheapest Companies for Insuring a Ford Mustang Mach-E

On average, it costs $1,603 per year to insure a Ford Mustang Mach-E, but you might pay a different full coverage rate based on your chosen company.

GEICO offers the cheapest full coverage car insurance policy for this all-electric SUV, costing an average of $1,236 annually. Allstate is the most expensive for the same policy, charging roughly $2,103 annually.

For minimum coverage with a Ford Mustang Mach-E, State Farm has the cheapest average rate at $469 per year, while Farmers charges the highest at around $684 annually.

Data filtered by:Results filtered by:
Age:
Age:40
Coverage:
Coverage:Full Coverage
GEICOAverage Annual Premium$1,236
TravelersAverage Annual Premium$1,366
NationwideAverage Annual Premium$1,379
State FarmAverage Annual Premium$1,404
ProgressiveAverage Annual Premium$1,679
FarmersAverage Annual Premium$1,828
AllstateAverage Annual Premium$2,103

Is a Ford Mustang Mach-E Expensive to Insure?

Insurance companies assess various factors to determine the cost of car insurance for a Ford Mustang Mach-E or any vehicle. The price of the vehicle and what type it is can influence rates.

The Ford Mustang Mach-E has a moderate car insurance price; it is not cheap or expensive. With a 2022 MSRP of $46,695, it has a higher value than other cars or SUVs, which influences why it is not a cheap car to insure since its replacement cost is higher. It is also an all-electric SUV, and electric vehicles do often have a higher price of insurance because of the cost of repairing them. But, the horsepower of the Mach-E isn’t high, even though it is a Mustang, which likely contributes to keeping its insurance from being expensive.

Best Companies for Insuring a Ford Mustang Mach-E

There are several factors besides cost that you should consider when purchasing a policy for a Ford Mustang Mach-E, such as service reputation and claims handling.

MoneyGeek found the following companies offer the best car insurance for a Ford Mustang Mach-E:

  • GEICO: MoneyGeek score of 90 out of 100 ($1,236 per year)
  • Travelers: MoneyGeek score of 89 out of 100 ($1,366 per year)

GEICO ranked the highest for affordability and third highest for customer satisfaction.

MoneyGeek Top Pick: GEICO

GEICO

pros

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Ranked first for the affordability of a full coverage policy

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Earned the third-highest customer satisfaction score

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Has mechanical breakdown insurance (MBI) and accident forgiveness

cons

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Did not rank well in claims management

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No gap insurance

COMPANY HIGHLIGHTS

MoneyGeek found GEICO is the best car insurance company for a Ford Mustang Mach-E that has full coverage, as it offers the most affordable policy among the insurers we reviewed and provides common and rare add-on coverages, including mechanical breakdown insurance or MBI.

MBI covers the costs due to mechanical problems in your Mach-E. It’s generally better than a typical dealer’s extended warranty — as it covers all systems and parts of the vehicle and at a lower price. You can get this coverage for a Mach-E that is less than 15 months old with less than 15,000 miles.

Policyholders can also get common coverages like accident forgiveness and rental car reimbursement.

Accident forgiveness helps you avoid an increase in your premium after your first at-fault accident, but you must have been accident-free for a specific period. And if your car isn’t driveable for 24 hours in a covered claim, the rental car reimbursement coverage will pay for the cost of a rental vehicle.

Read MoneyGeek's GEICO Auto Insurance Review

MoneyGeek Runner-Up: Travelers

Travelers

pros

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Has the second-most affordable full coverage policy

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Ranked first for claims handling

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Has new car replacement and gap insurance

cons

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No original equipment manufacturer (OEM) coverage

COMPANY HIGHLIGHTS

Travelers does not offer rare add-on coverages, but you can get various common coverages from the company for your Ford Mustang Mach-E. It also ranked the highest for claims management, which shows it should promptly and fairly handle claims.

Drivers with a new Ford Mustang Mach-E will significantly benefit from a Travelers policy since it offers new car replacement coverage. That replaces your totaled SUV with a brand new one, but only if it was totaled in the first five years.

You can also add gap insurance to your policy, which pays the difference between the actual cash value of your Mach-E and the remaining loan or lease amount in case it’s totaled.

Roadside assistance coverage is also available to provide help when your car breaks down, such as with a jumpstart, tire change or gas delivery.

Read MoneyGeek's Travelers Auto Insurance Review

Cost of Insuring a Ford Mustang Mach-E by Model Year

The average annual cost of car insurance for a 2021 Ford Mustang Mach-E is $1,568, while it’s $1,557 for a 2022 model.

Insurers generally charge more to insure newer model years because a vehicle’s value depreciates with time, but that’s not true for the Ford Mustang Mach-E. It has a cheaper cost for the 2022 model than the 2021.

Data filtered by:Results filtered by:
Age:
Age:40
Coverage:
Coverage:Full Coverage
2022Average Annual Premium$1,557
2021Average Annual Premium$1,568

Insurance rates may vary based on the insurer and the Ford Mustang Mach-E’s model year.

But for MoneyGeek’s sample driver, GEICO offers the cheapest full coverage policy for a 2021 and 2022 Ford Mustang Mach-E, charging an average of $1,221 and $1,251 per year, respectively.

To find the average cost of car insurance based on your profile and the cheapest provider, compare quotes from multiple companies.

Data filtered by:Results filtered by:
Model Year:
Model Year:2022
Age:
Age:40
Coverage:
Coverage:Full Coverage
GEICOAverage Annual Premium$1,251
NationwideAverage Annual Premium$1,368
TravelersAverage Annual Premium$1,371
State FarmAverage Annual Premium$1,420
ProgressiveAverage Annual Premium$1,512
FarmersAverage Annual Premium$1,852
AllstateAverage Annual Premium$2,149

Cost of Insuring a Ford Mustang Mach-E for 16- to 25-Year-Olds

Teen drivers pay much higher car insurance rates than adult drivers over 30.

For example, MoneyGeek found that the average Ford Mustang Mach-E insurance cost for a 16-year-old driver with full coverage is $6,955 per year. But a 40-year-old with the same policy only pays around $1,563 yearly.

The cost of car insurance for teens decreases every year and should become steady in their 20s.

Data filtered by:Results filtered by:
Coverage:
Coverage:Full Coverage
16Average Annual Premium$6,955
17Average Annual Premium$5,709
18Average Annual Premium$5,032
19Average Annual Premium$3,511
20Average Annual Premium$3,187
21Average Annual Premium$2,476
22Average Annual Premium$2,290
23Average Annual Premium$2,129
24Average Annual Premium$2,023
25Average Annual Premium$1,818

Adding a teen driver to a family policy is the most affordable way to insure them, as an individual policy will cost much more. And for a teen under 18 to legally get their own policy, they usually must have a parent or guardian as a co-signer.

If a 16-year-old purchases an individual policy, State Farm has the cheapest full coverage at an average of $4,530 annually with a Ford Mustang Mach-E. Progressive is the most expensive for the same policy, charging roughly $9,266 annually.

Data filtered by:Results filtered by:
Age:
Age:16
Model Year:
Model Year:2022
Coverage:
Coverage:Full Coverage
State FarmAverage Annual Premium$4,583
NationwideAverage Annual Premium$5,519
TravelersAverage Annual Premium$5,675
GEICOAverage Annual Premium$5,781
ProgressiveAverage Annual Premium$8,205
FarmersAverage Annual Premium$8,928
AllstateAverage Annual Premium$9,269

How Does Location Affect the Cost of Ford Mustang Mach-E Insurance?

Factors like the Ford Mustang Mach-E’s model year and driver’s age affect the cost of car insurance, but the location could play an even more important role.

For example, Idaho has the lowest car insurance rates, while New York is the most expensive.

You should get quotes from the cheapest providers in your state for a Ford Mustang Mach-E and choose the best option.

Data filtered by:Results filtered by:
Age Group:
Age Group:30-59
Coverage:
Coverage:Full Coverage
AlabamaCheapest CompanyNationwideAnnual Premium$709Monthly Premium$59
AlaskaCheapest CompanyState FarmAnnual Premium$699Monthly Premium$58
ArizonaCheapest CompanyRoot Insurance CompanyAnnual Premium$682Monthly Premium$57
ArkansasCheapest CompanyState FarmAnnual Premium$629Monthly Premium$52
CaliforniaCheapest CompanyAAA CaliforniaAnnual Premium$1,001Monthly Premium$83
ColoradoCheapest CompanyAmerican National P&CAnnual Premium$541Monthly Premium$45
ConnecticutCheapest CompanyGEICOAnnual Premium$693Monthly Premium$58
DelawareCheapest CompanyState FarmAnnual Premium$881Monthly Premium$73

Frequently Asked Questions About Ford Mustang Mach-E Insurance

You might have concerns about the cost and quality of service an insurer provides when purchasing a policy for a Ford Mustang Mach-E. MoneyGeek answered the following frequently asked questions to address those concerns.

What company has the cheapest car insurance for a Ford Mustang Mach-E?
What company offers the best car insurance for a Ford Mustang Mach-E?

About Mark Fitzpatrick


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