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Why is getting car insurance for my Mustang so expensive if I'm a clean driver?
"I'm 18 and want to purchase car insurance for a new Mustang I'm financing, but the rates are so high. I haven't been in any accidents and I pay all my bills on time. Why?"
Sophie Newman · Updated on
Reviewed by Shannon Martin, Licensed Insurance Agent.
“Your
car insurance
rates are high right now for several reasons. Younger drivers and sports cars typically have higher rates because statistically these criteria increase your risk of having an accident (even if you are the exception). Insuring a new car, especially one of a higher value, will increase your rates because it will cost more to fix it in the event of an accident.
For now, you can compare quotes to find the best rate using an app like
Jerry
. In the future, you can expect your insurance rates to decrease with age, provided you maintain a clean record and other factors don’t change.”View full answer
- Gregory R.
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Jerry partners with more than 50 insurance companies, but our content is independently researched, written, and fact-checked by our team of editors and agents. We aren’t paid for reviews or other content.
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