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How much will it cost for a teenager to insure a Mustang?
I really want a Mustang, but everyone keeps telling me I won't be able to afford the insurance. How much will it cost for a teenager to insure a Mustang?
Sophie Newman · Updated on
Reviewed by Shannon Martin, Licensed Insurance Agent.
It will be very expensive for a teenager to insure a Mustang. Teenagers are statistically more likely to get into a crash, meaning you’ll have higher insurance rates than average no matter what car you drive.
Add a high-end vehicle like a Mustang to the mix—which costs more money for the insurance company to replace in the event of a crash—and you could pay thousands of dollars a month.
Here’s an estimate: While you might pay somewhere around $1,500 a year to insure a Mustang as an older driver, as a teenager you might have to pay $1,500 or more per month.
Of course, your exact rate will depend on multiple factors, including:
- Where you live
- How much coverage you need
- Whether you have any violations on your driving record
Get added to a parent’s policy if possible: It’s always expensive to insure a teen driver, but getting added to a family policy will be more affordable than taking out your own insurance.
If you’re set on this car, be sure to compare quotes from different insurance companies before deciding on a policy.
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can do all the work for you to find where you’ll get the best rate.View full answer
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