How Much Is Insurance for a Ford Mustang?
How Much Is Insurance for a Ford Mustang?
The average cost of car insurance for a Ford Mustang is $209 per month for a 30-year-old driver.
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Mustang quotes are much more expensive for young drivers: A 16-year-old can expect to pay $991 per month for Mustang insurance. Geico has the cheapest Mustang rates for most drivers.
The Cheapest Insurance for Mustang Drivers
Geico offers the cheapest prices overall for Mustang insurance, with an average quote of just $134 per month. That's 36% cheaper than the average rate of $209.
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Allstate offered the worst prices, charging an average of $373 per month for 30-year-old drivers. We recommend that Mustang drivers get quotes from multiple car insurance companies to get the cheapest quotes.
Insurer | Average cost of six-month policy | |
|---|---|---|
| Geico | $804 |
| Progressive | $946 |
| State Farm | $997 |
| Farmers | $1,287 |
| Allstate | $2,235 |
Mustang Insurance Rates by Age
Insurance for Mustangs is much more expensive for younger, less-experienced drivers. The average quote we found for 16-year-olds was $991 per month — nearly five times as much as a 30-year-old can expect to pay. 18-year-olds can expect to pay $773 per month for Mustang insurance.
The best price for a 16-year-old was with State Farm. For all other drivers, Geico offered the lowest rates for insuring a Mustang.
The data we collected for young Mustang drivers matches the rates young drivers pay overall. We have found that the price of car insurance for young drivers is consistently the most expensive, with coverage quotes going down until 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.
Driver age | Allstate | Farmers | Geico | Progressive | State Farm |
|---|---|---|---|---|---|
| 16 | $11,195 | $4,298 | N/A | $4,481 | $3,816 |
| 18 | $10,411 | $2,990 | $2,850 | $3,664 | $3,281 |
| 20 | $8,825 | $2,543 | $1,242 | $2,136 | $2,514 |
| 22 | $7,823 | $1,747 | $1,013 | $1,518 | $1,859 |
| 25 | $2,507 | $1,509 | $889 | $1,037 | $1,625 |
| 30 | $2,235 | $1,287 | $804 | $946 | $997 |
All prices listed are six-month policies for solo drivers.
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These quotes are for younger drivers on a one-person policy. The best way for teenage drivers 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.
The Cheapest Mustangs to Insure
The cost of insurance for older Ford Mustangs is lower than for newer vehicles. A 2011 Mustang costs an average of $174 per month to insure — 28% less than the newest model.
Costs of Car Insurance for the Mustang GT vs Mustang 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, 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.
Frequently asked questions
How much does insurance cost for a Mustang GT?
A Mustang GT, the more-powerful variant of the Mustang, costs $2,528 per year to insure with full coverage — about 2% more than the base model.
How much is insurance on a Mustang for a 20-year-old?
A 20-year-old can expect to pay $6,904 per year for full coverage on a Mustang. That's almost triple what a 30-year-old will pay.
Methodology
We collected 522 quotes from five insurers for our detailed analysis of car insurance rates for Mustangs. We compared auto insurance 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 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 age comparisons for drivers ages 16, 18, 20, 22 and 25.
Rate averages include only quotes for the 30-year-old driver unless otherwise specified.
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