Ford Mustang Insurance Cost | Insuring American Muscle
The Ford Mustang is a classic American muscle car . Originally introduced to the market in 1964, it quickly became the fastest-selling muscle car in the nation's history (selling over 400,000 units the first year). Since then, it has remained an American staple.
These beasts have been featured in Hollywood hit movies , are driven by almost every age and gender, and are guaranteed to make a statement - no matter what year/model your car is.
But for those of you who are wondering how expensive it is to insure a Ford Mustang, while they are not the cheapest cars to insure , they're also not the most expensive cars to insure compared to other luxury and sports cars, however, they're still going to cost you a bit more per year to insure than an old-school Toyota Camry.
Whether you're thinking of purchasing a Ford Mustang or you're just curious about how much is the average Ford Mustang insurance cost , we're here to tell you everything that you need to know about the average cost insurance companies charge for this car, what factors affect this, and how to compare car insurance quotes .
Read more: Ford Focus Insurance Cost
How Much is Car Insurance For a Ford Mustang?
The total cost of your insurance policy for your Ford Mustang will vary considerably based on your age, driving record, the year/model of the car, and how much insurance you're purchasing. For instance, if you have an older-model 2016 or 2017 Ford Mustang with a V6 engine, you'll pay considerably less than somebody trying to insure a brand-new 2022 8-cylinder GT model.
Still wondering how much is insurance for a Mustang? Well, Mustang insurance rates may get pricey!
Average Cost To Insure A Ford Mustang Per Year
The average insurance cost of a Mustang is $170 monthly or $2,000 yearly, however the average range is between $1,200 and $2,500 a year. It may get over twice the national average car insurance cost!
These rates depend on a number of different factors. Possibly the biggest factor in all of this is the age of the driver.
It's no secret that most teenagers and young 20-somethings drive mustangs more than just about any other demographic. However, young drivers under age 25 are also the most expensive to insure. Drivers who get the best coverage car insurance rates are typically individuals over age 35 or senior drivers over age 65.
Depending on the car insurance companies , a teenager could pay up to $11,195 on average (Allstate rate) to insure his Ford Mustang, while adults could pay as low as $804 annually to cover a new Ford Mustang.
The cheapest car insurance quotes that we've got for a ford mustang were with GEICO , that averaged $75 per month or $900 per year and Plymouth Rock Insurance , averaging $70 per month or $820 per year.
That said, old mustangs are considered among the cheapest sports cars to insure .
How Much Does it Cost to Insure a Ford Mustang Per Month?
So, let's just say that you got quotes for a full-coverage policy for your Mustang GT at $2,000 per year. Now, suppose you put $200 down (an estimated average) to start your policy. That leaves $1,800 to pay off over the course of the next 11 months.
Doing the math, you would pay an average of $165 per month in insurance costs.
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