As revealed by studies, the national average ford mustang insurance cost for 18 year old drivers may be in the range $3,281 to $10,411 per year depending on the company with which you are working. Teen and young drivers below the age of 25 are deemed are deemed to be highly risky propositions to insure by car insurance providers. Besides, the Ford Mustang is an expensive vehicle and its parts and components can cost more if it comes to repair or replacement. This result in higher insurance premiums being charged to compensate for the risk involved in granting coverage. Consequently, it is to be noted that teen drivers end up spending around 80% more than what drivers over the age of 25 pay for insurance.
Nevertheless, the ford mustang insurance cost for 16 year old drivers is going to be higher than that of 18 year olds and it is further likely to vary from company to company. This could be evident from the below mentioned table.
Company Name Age Annual Premium Rates
Allstate 16 $11,195
18 $10,411
20 $8,825
22 $7,823
25 $2,507
30 $2,235
Farmers 16 $4,298
18 $2,990
20 $2,543
22 $1,747
25 $1,509
30 $1,287
GEICO 16 —
18 $2,850
20 $1,242
22 $1,013
25 $889
30 $804
Progressive 16 $4,481
18 $3,664
20 $2,136
22 $1,518
25 $1,037
30 $946
State Farm 16 $3,816
18 $3,218
20 $2,514
22 $1,859
25 $1,625
30 $995
There are a number of factors which may affect affordability of the Ford Mustang vehicle insurance rates apart from driver’s age and gender. The exact Ford Mustang GT trim level, make and model year, driver’s residential or geographical location, driving record and credit history play an equally important role in the determination of auto insurance rates. Besides, as the Ford Mustang is a sports car, it is basically expensive and so will be its parts and components if they are needed to be repaired or replaced post an accident. And as the Mustang has a powerful engine, vehicle performance on road is high leading to a tremendous hike in premium. But it could be possible to save money on Ford Mustang insurance.
Although ford mustang insurance cost for 16 year old will remain the highest because of inability to get any discounts on premium, drivers belonging to higher age groups may capitalize on concessions provided by insurers on account of their driving experience. Companies provide numerous types of premium discounts to qualified drivers such as defensive driver discount, good student discount, low mileage discount, etc. Thankfully, the Ford Mustang has some advanced safety features which make it a safer vehicle. It enjoys good safety ratings and 5-star crash test ratings from IIHS and this helps in reduction of premium. And if you bundle home and car insurance, you might be eligible to receive an extra discount on your yearly premium.
However, to improve chances of qualifying for cheap ford mustang insurance cost for 18 year old driver, it could be much better if you take up a defensive driver’s training course from a training institute approved by your state government. And it can be further advantageous if you have maintained an average B grade or GPA of 3.0 or above in your academics consistently for the last 3 years in high school or college. It will fetch you an additional discount on your Ford Mustang insurance premium. Last but not the least, extensive shopping and comparison of multiple free quotes provided by different insurers can invariably enable you to save money. The task could be exhaustive but if you seek assistance from experts, the process might be less strenuous.
Atozinsuranceusa.com can assist you in finding the best and cheapest owner and non vehicle owner insurance quote online through a simple, easy and hassle-free process online. Take advantage of our specialist services online for securing a solution that easily fits your specific driving needs and budget.
