Who has the cheapest Ford Mustang insurance?

USAA has the cheapest car insurance rates for 2012–2023 Ford Mustangs, followed by State Farm and GEICO. However, opting for a full-coverage policy rather than just the state-required liability-only coverage usually leads to higher premium prices. Insurance companies also base Ford Mustang car insurance rates on other factors, like driver profile and driving history.

Are Ford Mustangs expensive to insure?

Yes. Compared to non-sports cars, such as the Honda Accord, Toyota Camry, and Toyota RAV4, Ford Mustangs tend to be more expensive to insure. The 2023 Honda Accord, Toyota Camry, and Toyota RAV4 all earned IIHS Top Safety Pick accolades, while the Ford Mustang didn’t. This may be one reason why Ford Mustang insurance is more expensive.

Why is Mustang insurance so expensive?

Ford Mustang car insurance rates may be higher for a number of reasons that aren’t related to driver history or profile. Mustang parts may be more expensive than standard car parts, especially for special edition models. A Mustang is also considered a sports car, whereas a Toyota Camry is considered a basic sedan. Sports cars generally cost more to insure than standard cars.

How much is insurance for a 17-year-old with a Mustang?

Insurance rates vary depending on many factors, but 16-year-olds and 17-year-olds should expect to pay more than 20-year-old and 30-year-old drivers. Teens, as well as young drivers, typically pay more than older drivers because they have a higher rate of at-fault and fatal accidents. Good drivers with clean driving records will also likely have lower rates across all categories.

Cost of Ford Mustang Car Insurance (2024)

Mustang insurance cost
Rates by model year
Coverage options
FAQs

Mustang insurance cost
Rates by model year
Coverage options
FAQs

One of the bestselling sports cars in the world, the Ford Mustang costs an average of $277 per month to insure.^[1] Compared to the 2023 Dodge Challenger, which has an MSRP of $31,965, the 2023 Ford Mustang starts at a cheaper MSRP of $27,770.

However, average Ford Mustang auto insurance rates can vary depending on the insurance company and factors like your age, driving record, accident history, and location. With so many different factors affecting premiums, it’s a good idea to see how Mustang insurance rates compare across insurance companies.

Quick Facts

Trim options may increase both MSRP and insurance costs.
Older Ford Mustang models are generally cheaper to insure.
The 2023 Ford Mustang has a higher MSPR than the 2023 Chevrolet Camaro, which may mean it has higher insurance costs.

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Cost of Ford Mustang insurance

Ford Mustangs are cheapest to insure through USAA, at $228 per month for a 2023 model with a full-coverage policy. This is significantly more expensive than the average national full-coverage car insurance premium of $172 per month.

Remember, add-ons like roadside assistance and towing services can further increase Ford Mustang insurance costs.

2023 Ford Mustang insurance

Ford Mustang drivers will find the 2023 models have MSRPs between $28,165 and $60,060.^[2]

Insurance Company ▲▼	Average Monthly Quote ▲▼
USAA	$228
State Farm	$251
GEICO	$261
Nationwide	$289
Allstate	$312
Progressive	$369
CSAA	$380
American Family	$397
Liberty Mutual	$399
Direct Auto	$446
Travelers	$458
Farmers	$533
The General	$575

Disclaimer: Table data sourced from real-time quotes from Insurify's 50-plus partner insurance providers and quote estimates from Quadrant Information Services. Actual quotes may vary based on the policy buyer's unique driver profile.

2022 Ford Mustang insurance

Before discounts are applied, many dealers have 2022 Ford Mustangs for sale with MSRPs between $28,845 and $80,795.

Insurance Company ▲▼	Average Monthly Quote ▲▼
USAA	$178
State Farm	$196
GEICO	$204
Nationwide	$226
Allstate	$244
Progressive	$288
CSAA	$297
American Family	$310
Liberty Mutual	$312
Direct Auto	$349
Travelers	$358
Farmers	$417
The General	$450

2021 Ford Mustang insurance

Depending on model options, 2021 Ford Mustangs have MSRPs between $29,945 and $74,095.

Insurance Company ▲▼	Average Monthly Quote ▲▼
USAA	$159
State Farm	$175
GEICO	$182
Nationwide	$202
Allstate	$218
Progressive	$257
CSAA	$265
American Family	$277
Liberty Mutual	$279
Direct Auto	$311
Travelers	$320
Farmers	$372
The General	$401

2020 Ford Mustang insurance

The 2020 Ford Mustang’s prices vary based on trim levels, ranging between $26,670 and $72,135.

Insurance Company ▲▼	Average Monthly Quote ▲▼
USAA	$173
State Farm	$191
GEICO	$198
Nationwide	$220
Allstate	$238
Progressive	$281
CSAA	$290
American Family	$302
Liberty Mutual	$304
Direct Auto	$340
Travelers	$349
Farmers	$406
The General	$438

2019 Ford Mustang insurance

Trim levels also significantly affect 2019 Ford Mustang prices, with MSRPs between $26,395 and $95,498, showing the highest range in Ford Mustang prices.

Insurance Company ▲▼	Average Monthly Quote ▲▼
USAA	$149
State Farm	$165
GEICO	$171
Nationwide	$189
Allstate	$205
Progressive	$242
CSAA	$249
American Family	$260
Liberty Mutual	$262
Direct Auto	$293
Travelers	$300
Farmers	$349
The General	$377

2018 Ford Mustang insurance

Prices may vary by ZIP code, but the original MSRP for these sports cars was between $25,680 and $63,440.

Insurance Company ▲▼	Average Monthly Quote ▲▼
USAA	$163
State Farm	$180
GEICO	$187
Nationwide	$207
Allstate	$224
Progressive	$264
CSAA	$273
American Family	$284
Liberty Mutual	$286
Direct Auto	$320
Travelers	$328
Farmers	$382
The General	$412

2017 Ford Mustang insurance

This was the final year of the V6 Coupe, starting at $25,185 MSRP. The MSRP for the most expensive model, the Shelby GT350R Coupe, was $62,345.

Insurance Company ▲▼	Average Monthly Quote ▲▼
USAA	$146
State Farm	$161
GEICO	$167
Nationwide	$185
Allstate	$200
Progressive	$236
CSAA	$244
American Family	$254
Liberty Mutual	$256
Direct Auto	$286
Travelers	$293
Farmers	$342
The General	$369

2016 Ford Mustang insurance

In 2016, the money you’d spend on a 2016 Ford Mustang could range from $24,145 to $61,295 MSRP.

Insurance Company ▲▼	Average Monthly Quote ▲▼
USAA	$141
State Farm	$155
GEICO	$161
Nationwide	$178
Allstate	$193
Progressive	$228
CSAA	$235
American Family	$245
Liberty Mutual	$247
Direct Auto	$276
Travelers	$283
Farmers	$329
The General	$355

2015 Ford Mustang insurance

In 2015, the Ford Mustang brought a range of trims to the table, costing between $23,800 for a V6 Coupe and $46,170 for a 50 Year Limited Edition Coupe.

Insurance Company ▲▼	Average Monthly Quote ▲▼
USAA	$144
State Farm	$159
GEICO	$165
Nationwide	$183
Allstate	$197
Progressive	$233
CSAA	$241
American Family	$251
Liberty Mutual	$252
Direct Auto	$282
Travelers	$290
Farmers	$337
The General	$364

2014 Ford Mustang insurance

Regardless of the dealership state, the original MSRPs for a 2014 Ford Mustang ranged from $22,510 to $40,310.

Insurance Company ▲▼	Average Monthly Quote ▲▼
USAA	$126
State Farm	$139
GEICO	$144
Nationwide	$160
Allstate	$173
Progressive	$204
CSAA	$211
American Family	$220
Liberty Mutual	$221
Direct Auto	$247
Travelers	$254
Farmers	$295
The General	$319

2013 Ford Mustang insurance

Before adding special optional features that increase the total price, the 2013 Ford Mustang MSRPs were between $22,200 and $42,200.

Insurance Company ▲▼	Average Monthly Quote ▲▼
USAA	$123
State Farm	$136
GEICO	$141
Nationwide	$156
Allstate	$169
Progressive	$200
CSAA	$206
American Family	$215
Liberty Mutual	$216
Direct Auto	$241
Travelers	$248
Farmers	$288
The General	$311

2012 Ford Mustang insurance

The MSRP for the 2012 Ford Mustang in the United States was between $22,310 and $40,310.

Insurance Company ▲▼	Average Monthly Quote ▲▼
USAA	$114
State Farm	$126
GEICO	$130
Nationwide	$145
Allstate	$156
Progressive	$185
CSAA	$190
American Family	$199
Liberty Mutual	$200
Direct Auto	$223
Travelers	$229
Farmers	$267
The General	$288

Ford Mustang car insurance coverages

Most states require drivers to carry a minimum amount of liability coverage that covers property damage and medical bills if you cause an accident.^[3] But you should consider carrying some additional optional coverages for your Ford Mustang, including:

Collision coverage
Collision coverage reimburses you for vehicle damages from collisions with objects like telephone poles, trees, or cars. It also covers damages from hitting curbs, driving over potholes, and flipping your car.
Comprehensive coverage
Comprehensive coverage pays for damages from non-collision incidents, including weather damage, vandalism, and theft.
Gap coverage
In the case of a total loss, gap insurance covers the difference between the current market value of the vehicle and how much you still owe on it, which can be particularly useful for sports cars, given their higher-than-average prices. In many cases, the market value is lower than your outstanding loan balance.^[4]
Uninsured/underinsured motorist coverage
Uninsured/underinsured motorist coverage reimburses you if an uninsured or underinsured driver hits you. It’s optional in most states but may be especially helpful in places where a high percentage of drivers don’t have car insurance.

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Ford Mustang car insurance FAQs

Ford Mustang car insurance rates vary based on factors like your age, vehicle safety features, ZIP code, location, discounts, driving record, credit score, and more. Below, you’ll find answers to some of the most commonly asked questions from Ford Mustang owners.

Who has the cheapest Ford Mustang insurance?
USAA has the cheapest car insurance rates for 2012–2023 Ford Mustangs, followed by State Farm and GEICO. However, opting for a full-coverage policy rather than just the state-required liability-only coverage usually leads to higher premium prices. Insurance companies also base Ford Mustang car insurance rates on other factors, like driver profile and driving history.
Are Ford Mustangs expensive to insure?
Yes. Compared to non-sports cars, such as the Honda Accord, Toyota Camry, and Toyota RAV4, Ford Mustangs tend to be more expensive to insure. The 2023 Honda Accord, Toyota Camry, and Toyota RAV4 all earned IIHS Top Safety Pick accolades, while the Ford Mustang didn’t.^[5] This may be one reason why Ford Mustang insurance is more expensive.
Why is Mustang insurance so expensive?
Ford Mustang car insurance rates may be higher for a number of reasons that aren’t related to driver history or profile. Mustang parts may be more expensive than standard car parts, especially for special edition models. A Mustang is also considered a sports car, whereas a Toyota Camry is considered a basic sedan. Sports cars generally cost more to insure than standard cars.^[6]
How much is insurance for a 17-year-old with a Mustang?
Insurance rates vary depending on many factors, but 16-year-olds and 17-year-olds should expect to pay more than 20-year-old and 30-year-old drivers. Teens, as well as young drivers, typically pay more than older drivers because they have a higher rate of at-fault and fatal accidents.^[7] Good drivers with clean driving records will also likely have lower rates across all categories.

Sources

Ford. "FORD MUSTANG CONTINUES AS WORLD’S BEST-SELLING SPORTS CAR OVER THE LAST 10 YEARS COMBINED."
Ford. "2023 Ford Mustang."
Insurance Information Institute. "Auto Insurance Basics."
Insurance Information Institute. "What is gap insurance?."
Insurance Institute for Highway Safety. "2023 TOP SAFETY PICKs."
Insurance Information Institute. "What determines the price of an auto insurance policy?."
Insurance Institute for Highway Safety. "Teenagers."

Nick Dauk

Nick Dauk is a freelance writer specializing in business, entrepreneurship, personal finance, and travel. His work has been featured in Fox Business, BBC, The Edge, Business Insider, and Bisnow. Nick is a first-generation college graduate, having majored in Interdisciplinary Studies at the University of Central Florida. His eclectic coursework, combined with previous managerial roles in the retail and broadcast television industries, have helped him develop an interdisciplinary approach to writing.

For nearly a decade, Nick has created content for mom-and-pop businesses and global corporations. As a travel writer, his global adventures have also been featured on Inside Hook, Houston Chronicle, Culture Trip, and Matador. When he's not traveling, Nick can be found in Orlando spending time with his wife and toddler.

Nick has been a contributor at Insurify since October 2022.

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Edited byDanny Smith

Danny Smith

Licensed auto and home insurance agent
4+ years in content creation and marketing

As Insurify’s home and pet insurance editor, Danny also specializes in auto insurance. His goal is to help consumers navigate the complex world of insurance buying.

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