If you drive a Ford Mustang, chances are you want to protect it and keep it in mint condition, while at the same time you want to save money on your insurance.
The price of your Ford Mustang insurance is affected by a variety of elements such as your driving record, age, and where you live, and therefore, rates can vary from one person to the next.
The make and model of your car is a major factor that directly influences the price of your insurance.
To get an accurate idea of how much your Ford Mustang insurance will cost, you need to be aware of the risks related to the vehicle you drive and how the best insurance companies view it.
How Much Does Ford Mustang Insurance Cost?
Ford Mustangs are classified as sports cars, so they can often be quite expensive to insure.
This guide aims to teach you more about the contributing elements that influence insurance rates as well as other factors to consider when you own a Ford Mustang.
Safety Rating & Damage Threshold
Safety ratings and damage thresholds greatly affect the overall price of car insurance.
If a car has exceptional safety ratings, this can potentially bring the price down.
On the other hand, if a slightly damaged vehicle results in a huge repair bill due to costly spare parts, this also influences the price of the premium.
According to the National Highway Traffic Safety Administration, Ford Mustangs perform exceptionally well in crash situations.
These results could make a positive impact on the cost of your insurance premium.
|Vehicle Name||Overall Rating||Frontal Crash Rating||Side Crash Rating||Rollover Rating|
|2019 Ford Mustang GT350R 2 DR RWD||5 out of 5 Stars||5 out of 5 Stars||5 out of 5 Stars||5 out of 5 Stars|
|2018 Ford Mustang 2 DR RWD||5 out of 5 Stars||5 out of 5 Stars||5 out of 5 Stars||5 out of 5 Stars|
|2017 Ford Mustang 2 DR RWD||5 out of 5 Stars||5 out of 5 Stars||5 out of 5 Stars||5 out of 5 Stars|
Comprehensive and Collision Insurance
One of the key factors that shape the cost of comprehensive and collision insurance is the overall cash value of your car.
This table illustrates the price you would expect to pay when buying a Ford Mustang certified from a dealer in the San Francisco area, according to Kelley Blue Book.
The out-the-door target price of a car includes state and local sales tax, Department of Motor Vehicle’s fees, and documentation fees.
The below prices indicate that newer Ford Mustangs may result in increased insurance rates.
|Vehicle Name||Fair Purchase Price||Out-the-door Target Price|
|2019 Ford Mustang GT350R 2 DR RWD||$47,407||$52,622|
|2018 Ford Mustang 2 DR RWD||$24,397||$27,081|
|2017 Ford Mustang 2 DR RWD||$22,260||$24,709|
Claims Frequency and Potential to Cause Damage
Claims frequency and damage potential affect car insurance pricing too.
An increase of claims by drivers of a certain vehicle often results in insurance providers hiking up the prices for other drivers of the same vehicle.
According to the Insurance Institute for Highway Safety, Highway Loss Data Institute, the 2017 Ford Mustang GT350 2dr has a four percent higher than the national average claim rate for collision claims and eight percent lower than the national average claim rate for comprehensive claims.
These are quite low rates and are some of the best for mid-sized sports cars.
Insuring a Ford Mustang could be cheaper than insuring similar vehicles, thanks to these respectable claim rates.
There are several ways to score discounts on your premiums and one such way is by purchasing a car with modern safety technology such as ABS and rear-facing cameras.
Most newer Ford Mustangs contain the basic safety equipment insurance companies look at, and the 2018 Ford Mustang is equipped with the AdvanceTrac® electronic stability control system, which allows the driver to have better control over the vehicle on looser terrain.
Ask any potential insurance provider about the availability of safe vehicle discounts.
If you drive a desirable car, then it’s more likely to be stolen, which affects the price you pay for insurance.
The National Insurance Crime Bureau’s Hot Wheels Report doesn’t feature the Ford Mustang on its list of most stolen vehicles, but that’s not to say that the desirability factor couldn’t lead to paying more for your insurance.
Providers often take into account any alarm or anti-theft systems you have installed on your vehicle and many offer a discount for these add-ons.
Getting a Quote: What are the Best Companies for Ford Mustang Insurance?
When it comes to getting the best insurance for your Ford Mustang, it pays to shop around.
Get quotes from a minimum of three companies and make sure to read plenty of reviews so you get a good idea of how efficient they are at handling claims.
It’s also beneficial to check out their financial strength by researching independent rating agencies.
As some models of Mustang are high-performance sports cars, you may require specialty insurance that not all companies offer.
To see if you are eligible for discounts, ask insurers questions such as:
What to Know About Ford Mustangs
The Ford Mustang is one of the most recognizable sports cars throughout the United States and it is practically synonymous with the phrase “muscle car.”
The Mustang has been in production since 1964 in various guises over the years, and the latest embodiment has been named the second best sports car by U.S. News with an overall score of 8.9 out of 10.
Now that you have learned a little about what insurance companies look at when setting their rates, you should be able to confidently negotiate a price that fits your budget.
Read here for a full review of Ford car insurance.*While we make every effort to keep our site updated, please be aware that "timely" information on this page, such as quote estimates, or pertinent details about companies, may only be accurate as of its last edit day. Huntley Wealth & Insurance Services and its representatives do not give legal or tax advice. Please consult your own legal or tax adviser.