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A Ford Mustang is more expensive to insure compared to the average car.
Full coverage for a Mustang typically tends to be around $210 monthly, while liability only insurance premiums tend to be about $84 per month.
The lowest auto insurance company for a Mustang is Safeway.
Coming in with a base MSRP of $27,155 for new 2021 models, the Ford Mustang is a great budget-friendly car for drivers of all types. But while it is on the affordable end of the spectrum when it comes to overall price point, it’s on the higher end of the spectrum when thinking about your insurance prices.
After analyzing thousands of car insurance quotes through Compare.com, we’ve found that Ford Mustang auto insurance rates run around $215 a month, on average. But compared to other vehicles in the market, are Mustang insurance prices higher or lower than those of similar cars?
How Much is Car Insurance for a Ford Mustang?
If you look at the table above, you’ll see that car insurance premiums for a Ford Mustang are higher than average. Mustang owners can expect to pay about $84 per month for liability insurance, and around $210 monthly for full coverage, which has comprehensive and collision coverages in addition to liability (learn more about the difference with our guide “State Minimum vs. Full Coverage”).
When you compare it to other Ford models, the Mustang is more expensive, with costs about 30% higher than the rest of the automaker’s vehicle lineup. Compared to offerings from other brands, insurance for a Mustang is similarly on the expensive side, with full coverage insurance rates coming in around $33 more and $1 more for liability only insurance.
When compared to all vehicles, regardless of body style, make, or model, the Mustang follows a similar pattern of having above average car insurance prices.
Who has the Cheapest Car Insurance for a Ford Mustang?
If you’re searching for a new car insurance policy for your Ford Mustang, you’re might be wondering which carrier offers the most affordable rates. Although costs will typically be pretty different from person to person, the lowest average rates for liability only coverage are sometimes just $31 per month from AnswerFinancial. With car insurance as low as $32 a month, Encompass is the next most affordable auto insurance company.
Finishing off the rest of the top 5 are Verti, MetroMile, and Hugo. That being said, just because these five carriers offer the lowest average rates doesn’t necessarily mean they’ll be the cheapest companies for you and your unique insurance profile.
Insurance carriers take a multitude of different variables into consideration when offering you rates. By analyzing quotes from numerous car insurance companies at once, you can guarantee you’re finding the cheapest rate.
What Factors Affect Car Insurance Rates for a Ford Mustang?
As we mentioned above, there are a variety of things that insurance carriers take into account to choose how much they charge for a policy – and each carrier weighs certain pieces more than others, so there’s not just one company that’s the lowest for everyone.
The sections below show many factors auto insurance companies use to determine rates:
The Ford Mustang has been around for a while, so vehicle age will likely make a big difference in what you end up paying for insurance. Usually, newer cars are going to cost more to insure because they’re worth more, however, as time goes on and Mustangs begin to depreciate, insurance costs will gradually decrease.
Based on the above table, the Ford Mustang follows this trend, as the cheapest models to insure are those that are 15 years old or more, while on average, the most expensive models are Mustangs that are 4 to 5 years old.
Age is another factor that makes a difference in how much you pay for auto insurance. Based on the information above, younger drivers have higher costs than drivers with more experience. In this case, drivers under 18 pay over three times as much as those 25 or older.
Car insurance prices continue to get lower as you get older, with drivers aged 55-64 making up the cheapest age group for the Mustang.
Did you know women tend to pay less for car insurance than men? This is because women are less likely to get speeding tickets and get into accidents, which decreases the chances of an insurance claim. When it comes to Mustang drivers specifically, women pay about $73 monthly for insurance and men pay around $90.
Where You Live
It may seem like common sense that things such as what vehicle you drive and how old you are play a role in your car insurance rates, but did you know that where you live has just as much of an impact? Since auto insurance is regulated on a state-by-state basis, premiums can shift quite a bit from state to state.
For example, the average Ford Mustang driver in New York pays about $190 per month for liability coverage. Meanwhile, on average, the same owner from California will pay less than half of that price. The table above shows average prices for the 10 largest states by population, just to give you a good idea of how much rates can change from state to state.
Ford Mustang Car Insurance Discounts
Regardless of your car, your age, or your home state, using as many discounts as possible when it comes to your insurance policy is always important.
While no two auto insurance carriers offer the same exact discounts, there are a few different ones that you’ll find with most companies. These include things like:
- Defensive driving discounts for taking a defensive driving class from an accredited school or institution
- Multi-car discounts for having several vehicles on your auto policy
- Vehicle safety discounts for having a vehicle with certain safety features (like air bags or anti-lock brakes) or one with higher safety ratings
- Multi-policy discounts for bundling your home and auto policies with the same carrier
There are all sorts of other discounts out there for saving money on your car insurance. And often, the best way to save isn’t through a “discount” at all, but rather by having a favorable driving record and insurance history.
While you don’t have control over every variable auto insurance carriers consider to calculate costs (like some of the ones mentioned above), there are quite a few that you do have control over. Below are just a few of the variables you can use to your advantage when it comes to saving cash:
Your Driving Record
You’ve probably noticed ads from insurance companies promoting large discounts for good drivers. And you’re probably not surprised to hear that your car insurance premiums will go higher if you get into an accident or get tickets for speeding. But how much will they cost you?
As you can tell, accidents will usually cost Mustang drivers more than tickets, but both will cause a significant increase in rates. Ford Mustang drivers with a single accident on their record pay about $107 every month (up $23 from the $84/mo. overall average), while drivers with one ticket will pay an average of $97 a month. Drivers with multiple violations of either kind will end up paying even more.
How Much You Drive
Another factor you have control over is the total amount of miles you drive each year. Those who drive less are less likely to get into collisions, so they’ll usually end up spending less on auto insurance. In the table above, you can see that Ford Mustang owners who drive 10,000 miles or more pay $87 for insurance, while those who drive fewer than 2,500 miles a year pay an average of $80 monthly.
But if you drive a limited amount, it may be worth getting usage-based or pay-per-mile car insurance. With these kinds of policies, you pay a small monthly amount, and your final monthly bill is calculated based on the number of miles you drove.
How Do Ford Mustangs Compare to Other Vehicles?
If you’re thinking about making a Ford Mustang your next vehicle, you’re probably wondering how it compares to other cars. Auto insurance is just one cost that comes with buying a new car, but it’s guaranteed to be one that’s worth considering.
Visit the table below to see how the Ford Mustang compares:
Overall, the Ford Mustang is a great value for any budget, with an MSRP that’s a third less than the going rate for a new vehicle. The Mustang retails at $27,155, which is much cheaper than the national average vehicle MSRP of $46,228.
Unlike the Mustang’s lower price, auto insurance prices are higher when compared to other vehicles on the market. Liability insurance for a Ford Mustang is around $8 per month more expensive than average, while full coverage is over $50 more monthly.
When it comes to usage, Ford Mustang owners drive about the same amount annually as the national average, with 11,858 miles each year compared to 11,681 for all vehicles.
Ford Mustang Car Insurance Costs by Model Year
You’ve seen how different factors can have an impact on what you’ll pay for car insurance. If you’re in the market for a new car, truck, or SUV and the Mustang is on your wishlist, knowing how much your vehicle will likely cost can be extremely valuable as you weigh your choices.
For this reason, we’ve done the heavy lifting and analyzed Ford Mustang insurance costs by model year. Choose a model year from the dropdown below to see average rates for both liability only and full coverage options. You’ll also find some other helpful info, like cheapest insurance company available trims for each Mustang model year.
Choose Your Model
2021 Ford Mustang Car Insurance
If you’re searching for a brand new Ford Mustang, there are plenty of options to choose from. A base model Mustang will put you back $27,155 (plus taxes and other fees), but with four different trim levels to pick from, the price can go up from there.
When it comes to insuring a Mustang, on average, it costs about $89 per month to insure a 2021 Ford Mustang for liability only and $268 a month for full coverage. And if you want the cheapest insurance possible, DirectGeneral offers liability only policies for sometimes as low as $23 per month.
Even though it helps to know the average price drivers pay to insure a 2021 Mustang, the only way to find out exactly what you’ll pay is to get a personalized quote. Luckily, with Compare.com you can get quotes from several carriers at once, all for free. To get started, simply enter your ZIP code below.
2020 Ford Mustang Car Insurance
If you’re in the market for a 2020 Mustang or already own one, you’re most likely looking at an average auto insurance cost of around $258 for full coverage or $95 for a liability only policy.
And if you’re just looking for the most affordable insurance for your Mustang, Hugo offers liability only policies for as cheap as $19 monthly.
If you want to find the best rates for car insurance for a 2020 Ford Mustang, enter your ZIP code below and compare a whole range of personalized quotes in just a few minutes.
2019 Ford Mustang Car Insurance
On average, drivers who own a 2019 Ford Mustang can expect to pay $89 to $254 a month for liability only and full coverage auto insurance, respectively.
If you’re looking for the lowest possible 2019 Ford Mustang insurance policy, Hugo offered the lowest policy we found, with rates as low as just $18 monthly.
And if you want more accurate rates tailored specifically to you, just enter your ZIP code below and get free quotes in minutes.
2018 Ford Mustang Car Insurance
The average cost to insure a 2018 Mustang with liability only coverage is $91 a month, while full coverage runs about $237 per month.
We found Safeco offered the most affordable policy, with rates as cheap as just $20 monthly.
What will your insurance premium be? Just enter your ZIP code below to get a variety of free customized quotes.
2017 Ford Mustang Car Insurance
2017 Ford Mustang drivers can expect to pay an average of $83 per month for liability or $239 for full coverage.
Commonwealth Casualty has premiums sometimes as little as $18 a month for the 2017 Ford Mustang.
If you want to know just how much your price will be, just enter your ZIP code below and get free quotes in minutes.
2016 Ford Mustang Car Insurance
You can expect full coverage for a 2016 Mustang to run around $236 monthly, while liability only coverage will average about $108 a month.
With costs as little as $17 per month, MetLife offered the cheapest policy we found for the 2016 Ford Mustang.
If you want to know just how much your rate will be, just enter your ZIP code below and get several free quotes in minutes.
2015 Ford Mustang Car Insurance
It costs around $84 a month for liability or $221 for a full coverage policy for the 2015 Ford Mustang.
With premiums as little as just $18 monthly, MetLife offered the lowest policy we found.
Want to figure out exactly what you’ll be asked to pay? Get multiple personalized quotes for free by just entering your ZIP code below.
2014 Ford Mustang Car Insurance
2014 Mustang drivers can expect to pay an average of $95 per month for liability or $210 for full coverage.
Mercury offered the most affordable policy we found, with rates sometimes as cheap as $19 a month.
If you want more accurate quotes of how much you can expect to pay, get free quotes in minutes by just entering your ZIP code below.
2013 Ford Mustang Car Insurance
It costs about $97 monthly for liability or $216 for a full coverage policy for the 2013 Ford Mustang.
Looking for the cheapest policy? Hugo offered liability only coverage for as cheap as just $18 per month.
Want to know exactly what your car insurance price will be? Get lots of free customized quotes by just entering your ZIP code below.
2012 Ford Mustang Car Insurance
You can expect full coverage for a 2012 Mustang to run around $209 a month, while liability only coverage will average about $95 per month.
MetLife offered the most affordable policy we found, with rates as little as $19 monthly.
If you want to know just how much your premium will be, get free quotes in minutes by just entering your ZIP code below.
2011 Ford Mustang Car Insurance
The average cost to insure a 2011 Ford Mustang with liability only coverage is $79 a month, while full coverage runs around $207 monthly.
With rates as low as just $20 per month, Hugo offered the cheapest policy we found for the 2011 Ford Mustang.
Want to know exactly how much you’ll pay? All you need to do is enter your ZIP code below and you’ll be on your way to comparing a lot of personalized quotes from the nation’s top insurance companies.
2010 Ford Mustang Car Insurance
On average, drivers who own a 2010 Mustang can expect to pay $90 to $210 a month for liability only and full coverage insurance, respectively.
Looking for the lowest policy? Commonwealth Casualty offered liability only coverage for as low as $24 monthly.
While these are good estimates of what the average driver might pay to insure a 2010 Ford Mustang, these prices might differ based on your driver profile. Just enter your ZIP code below, to get free personalized quotes in minutes.
2009 Ford Mustang Car Insurance
The average cost to insure a 2009 Ford Mustang with liability only coverage is $96 per month, while full coverage runs about $186 monthly.
We found Hallmark offered the cheapest policy, with rates as little as just $17 per month.
If you want to find the best rates for car insurance for a 2009 Ford Mustang, enter your ZIP code below and compare multiple personalized quotes in just a few minutes.
Ford Mustang Insurance FAQs
Is a Ford Mustang expensive to insure?
The Ford Mustang is more expensive to insure compared to the average car. Liability insurance runs an average of $84 a month, while full coverage will cost you around $210.
How can I get the best price on car insurance for my Ford Mustang?
There’s only one way to ensure you’re getting the most affordable rates – regularly shopping around and getting quotes. Over time, your driver profile changes, which could change your rates, so it’s recommended that you get quotes every 6 months or so. Luckily, sites like Compare.com let you compare premiums from an array of carriers at once, meaning you can find the lowest rates (or guarantee you already have the best deal) in just a few minutes.
Does the color of my Ford Mustang affect my insurance costs?
You may have heard the old adage that red cars cost more to insure, but that’s actually not true. There are several things auto insurance companies consider when they calculate how much you’ll pay, but the color of your Ford Mustang is not on that list.
Do I need to have insurance before I buy a Ford Mustang?
Before you can legally drive your new (or new to you) Mustang off the dealership lot, you’ll need to have a valid car insurance policy. As part of the buying process, some dealerships might offer you an insurance policy, but the best thing to do when buying a car is to talk with your insurance carrier ahead of time.
What car insurance discounts can I get for my Ford Mustang?
There are a ton of discounts out there when it comes to auto insurance. Many of them (like “pay-in-full discounts” and “multi-vehicle discounts”) are more based on you than the vehicle you drive, but if your Mustang has safety features like anti-lock brakes, airbags, anti-theft systems, and other features, it may qualify for certain discounts. The only way to know is to talk with your insurance agent and ask about which discounts they offer, since they change quite a bit from company to company.