Ford Mustang has been driven by almost every age and gender. Guaranteed to make a fantastic experience for the driver, regardless of what year/model your car is. It even got featured in some Hollywood movies. Just a heads-up, this vehicle is costly to insure.
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About Ford
Ford Motor Company, known as Ford, is an American multinational auto manufacturer founded in 1903 and headquartered in Dearborn, Michigan, U.S.
- Ford company sells automobiles and commercial vehicles under the Ford brand.
- Luxury cars under its Lincoln luxury brand.
- Ford also has an 8% stake in Aston Martin in the United Kingdom.
- And a lot more shares in Brazil, Russia, China, Thailand, and across the globe.
- Ford is the second-largest American-based automaker after General Motors and the fifth-largest in the world
- after Toyota, Volkswagen, Hyundai, and General Motors.
About Ford Mustang
The Ford Mustang is a classic American muscle car. This vehicle was introduced in 1964 and quickly became the fastest-selling muscle car in the nation’s history, with a record of selling over 400,000 units in the first year. The Mustang is still in production since 1964 and is the longest-produced Ford car. Mustang is currently in its sixth generation, and it is the fifth-best selling among Ford cars.
Are Ford Mustangs expensive to insure?
The Mustang insurance costs are about 24% more expensive than an average car.
The average insurance cost for Ford Mustang in the U.S.
Mustang insurance costs $2,077 annually, or around $173 per month for a full coverage policy. It is over twice the national average car insurance cost!
The average insurance cost for Ford Mustang in the U.K.
The cost of insuring a Ford Mustang varies in the U.K., based on personal criteria (the biggest of which is the driver’s age), the model, and the vehicle’s year. There is so much distance between prices that we can’t even give you a ballpark of it.
What are the cheapest and most expensive Mustangs to insure?
Older Ford Mustangs will cost less to purchase insurance for rather than newer Mustang vehicles. A 2011 Mustang will cost you around $174 per month to insure, which is 28% less than the latest model.
The cheapest trim level to insure is the Eco boost Fastback, and after that, the Eco boost Convertible is the most affordable trim level to insure at $1,440 per year.
The priciest models of Ford Mustang to insure are the Shelby GT500 with a $1,964 auto insurance rate annually and the Mach-1 Premium at $1,732 per year. You have to pay an extra $572 and $340 each year, respectively, over the cheapest Eco boost Fastback model by getting those two trim levels.
Compare before you shop
When you are shopping for a brand-new Mustang, one of the more common options you will hear about is Mustang Eco boost and GT insurance. On average, buying auto insurance for the Mustang EcoBoost will cost approximately $1,462 per year, while Mustang GT insurance costs around $1,579 annually, on average. Mustang Ecoboost is cheaper at $117 a year, or about 7.9%.
Why is insurance more for a Mustang?
Insurers charge Mustang drivers because this type of car is associated with higher rates of traffic fatalities.
How Ford Mustang car insurance rates are calculated?
1-Vehicle:
Generally, your car model impacts your rate considerably, things like your vehicle’s age, size, and value of your car.
2-Annual Mileage:
If you use your car often, the risk of getting in an accident increases, and as a result, you’ll have to pay more for insurance.
3-Age:
An insurer always charges drivers under 25 higher premiums because they are inexperienced and more likely to get into a collision than a 30-year-old.
How much is insurance on a Mustang for a 20-year-old?
A 20-year-old should pay around $6,904 annually for full coverage on a Mustang. That’s almost triple the price a 30-year-old pays!!!!!
4-Marital Status:
Statistics show that married people tend to be safe drivers.
5-Driving History:
Having a staller driving record with good driving behaviors not only lowers your rates but will get you discounts.
6-Location:
Your postal code impacts your insurance rates; for example, in an urban area risk of accident or theft is higher, so you have to pay a higher premium.
7-Gender:
Statistically, women have fewer severe accidents than men, and insurers charge women more petite for car insurance than men.
8-Garaged vs. Parking in the street:
The risk of anything happening to your vehicle in a garage is low rather than parking in the street. If you garage your car, you can be qualified for a discount.
The cheapest insurance providers for Mustang owners in the U.S.
- GEICO (GEICO car insurance reviews)
- Progressive (Progressive car & auto insurance reviews)
- State Farm
- Farmers (farmers auto & car insurance reviews [2022]
Want to know how much does Ford’s insurance costs? Did you know Ford offers insurance to Ford owners? Read more.
