Find the Cheapest Auto Insurance Quotes in Your Area
We collected hundreds of insurance quotes for Ford Mustangs and found that the average cost of car insurance for a Ford Mustang is $1,254 for a six-month policy for a 30-year-old driver. However, coverage is much more expensive for young drivers: A 16-year-old can expect to pay $5,948 for Mustang insurance.
The Cheapest Insurers for Mustang Drivers
We found that GEICO offered the cheapest prices overall for Mustang insurance, with an average quote of just $804 for six months of coverage. That's 36% cheaper than the average rate of $1,254 for a 30-year-old driver.
Allstate offered the worst prices in our analysis, charging an average of $2,235 for adult drivers. We always recommend drivers check with multiple insurers when looking for car insurance, as that's the best way to get the lowest price on your policy.
How Age Impacts the Cost of Mustang Insurance
Insurance for Mustangs is much more expensive for younger, less-experienced drivers. The average quote we found for 16-year-olds was $5,948 for a six-month policy—nearly five times as much as a 30-year-old can expect to pay.
The data we collected for young Mustang drivers matches what we've observed for young drivers overall. We have found that the price of car insurance for the youngest drivers is consistently the most expensive, with prices for coverage leveling off after age 30.
For young drivers, high costs aren't the only barrier to getting coverage—some car insurance companies don't sell policies to minors at all. For example, GEICO consistently offered the cheapest prices overall, but the company won't sell a policy directly to a minor. The best price for our sample 16-year-old was with State Farm. For all other drivers, GEICO offered the lowest rates for insuring a Mustang.
The Cheapest Mustang Insurance for Young Drivers
|Driver age||Allstate||Farmers||GEICO||Progressive||State Farm|
Keep in mind that the quotes we assembled are for younger drivers on a one-person policy. The best way for teenagers to save money on car insurance is to add themselves to their parents' car insurance policy. This can save a teen more than $5,000 per year.
Older Mustangs Are Cheaper to Insure
The cost of insurance for older Ford Mustangs is lower than for newer vehicles. The 2011 Mustang was only $1,045 to insure over six months—28% less than the newest model.
Costs of Coverage for the Mustang GT and EcoBoost
We collected quotes for both the base EcoBoost model and the more powerful GT with a V-8 engine, but didn't find a significant difference in price between the EcoBoost and the GT. While a Mustang GT costs 34% more than a base model EcoBoost, we found that the GT was only 2.2% more expensive to insure than the base model.
|Model||Average Cost for 6-Month Policy||MSRP (2019)|
|Mustang GT Coupe||$1,264||$35,355|
|Mustang EcoBoost Coupe||$1,243||$26,395|
Although the Mustang GT is significantly more powerful, with the additional horsepower and torque that comes with a V-8 engine, the insurance costs for these cars are very similar.
We collected 522 quotes from five insurers for our detailed analysis of car insurance rates for Mustangs. We compared rates for the EcoBoost and GT across nine model years, from 2011 to 2019. Depending on insurer and model year, the base-price option was variously referred to as the EcoBoost or simply "Mustang." However, we always chose the least-expensive option, excluding extras such as Premium or convertible add-ons.
GEICO does not offer car insurance to solo minors, reducing our total number of quotes from 540 to 522. Quotes listed are always for six months of coverage.
Our main sample driver was a 30-year-old male living in the San Antonio area. We also collected quotes for the purpose of age comparisons for five drivers ages 16, 18, 20, 22 and 25. Rate averages include only quotes for the 30-year-old driver unless otherwise specified.