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 $329 per month for a 30-year-old driver.
Mustang quotes are much more expensive for young drivers: A 16-year-old can expect to pay $1,527 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 $232 per month. That's 29% cheaper than the average rate of $329.
Progressive offered the worst prices, charging an average of $494 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 | Annual cost | |
|---|---|---|
| Geico | $1,392 |
| Nationwide | $1,717 |
| State Farm | $1,948 |
| Allstate | $2,675 |
| Progressive | $2,966 |
| USAA | $1,132 |
USAA is only available to current and former military members and their families.
Mustang insurance rates by age
Insurance for Mustangs is much more expensive for younger, less-experienced drivers. The average quote we found for a 16-year-old was $1,527 per month — nearly five times as much as a 30-year-old can expect to pay. An 18-year-old can expect to pay $1,176 per month for Mustang insurance.
The best price for every age group for insuring a Mustang came from Geico.
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 | Geico | Nationwide | Progressive | State Farm | USAA |
|---|---|---|---|---|---|---|
| 16 | $2,526 | $602 | $1,174 | $2,479 | $1,923 | $460 |
| 18 | $1,699 | $475 | $1,157 | $2,184 | $1,197 | $344 |
| 20 | $1,325 | $363 | $825 | $1,216 | $763 | $286 |
| 22 | $907 | $290 | $483 | $812 | $579 | $246 |
| 25 | $563 | $255 | $336 | $545 | $344 | $212 |
| 30 | $446 | $232 | $286 | $494 | $325 | $189 |
All prices listed are monthly rates 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 2015 Mustang costs an average of $254 per month to insure — 23% less than the newest model.
Costs of car insurance for the Mustang GT vs. the 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 37% more than a base model EcoBoost, the GT was only basically the same price to insure compared to the base model.
Model | Monthly cost | MSRP (2022) |
|---|---|---|
| Mustang GT Coupe | $330 | $37,545 |
| Mustang EcoBoost Coupe | $328 | $27,470 |
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 $3,955 per year to insure with full coverage — about the same cost as the base model.
How much is insurance on a Mustang for a 20-year-old?
A 20-year-old can expect to pay $9,560 per year for full coverage on a Mustang. That's more than double what a 30-year-old will pay.
Methodology
We collected quotes from six insurers from every ZIP code across Texas for our detailed analysis of car insurance rates for Mustangs. We compared auto insurance rates for the EcoBoost and GT across eight model years, from 2015 to 2022.
Our primary sample driver was a 30-year-old man with full coverage. We also collected quotes for age comparisons for drivers ages 16, 18, 20, 22 and 25.
Rates were collected using Quadrant Information Services. The data is sourced from public insurance filings. These rates should be used for comparative purposes only as your quotes may be different.
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