Ford Mustang Car Insurance Review
The Mustang is known for its sleek sporty look and affordable starting price of just $22,310. The average driver should expect to pay around $1,700 a year to carry full coverage on a 2012 midlevel Mustang.
Now just because Mustangs start out at very affordable price does not mean they do not have a top of the line. Ford introduced a new Mustang Shelby for 2012 as well and its starting price is $48,810. Along with her higher price tag and lavish features comes a higher insurance premium. A typical driver will pay around $2,500 a year on insurance for a Shelby.
Younger drivers are a key demographic for the Ford Mustang. This car offers them that sports car look and does not hurt their wallet. Mustang’s style appeals to both male and female drivers with its classic lines and edgy features. Unlike the price, insurance for a young driver on a Mustang may not be so friendly. A new driver could pay up to $6,500 a year for car insurance.
Remember these are only estimates and other factors will affect your cost of insurance. Your driving record will have a huge impact on the cost. Good drivers get lower rates because they are less of a risk. Where you live also affects the overall price. Certain states and cities have higher premiums because they have higher theft rates.
What kind of features does the Ford Mustang have available?
The 2012 Ford Mustangs come with some impressive features. Even the base models feature the brand new 305 horsepower V6 engine and have been rated with the best fuel efficiency in class with 31 mpg. They also come with selectable Electronic Power Assist Steering that increases control at high speeds and maneuverability at slower ones.
Safety features included tire pressure monitoring, front and side air bags, Aadvance Trac stability, remote keyless entry, anti-theft systems and crash alert monitoring for peace of mind.
A new feature to Ford is MyKey, which also comes standard on all their Mustangs. MyKey allows parents to set control limits for younger drivers including radio volume and top speeds. This feature also disables audio system and chimes until the seatbelts are fully buckled and provides fuel monitoring and sounds when fuel levels start to get low.
There are many exciting optional features available on the new Mustang. All models can be equipped with performance and style packages and many models can also get in dash navigation, HD radio and rear parking sensors. Almost all of Ford’s luxury options can be made available on a Mustang depending on the trim level you select.
How long has the Ford Mustang been on the market?
The Mustang is revered as one of Americas best known muscle cars. Lee Iacocca first visualized its concept in 1961. The first Mustang produced is known as the 1964 and a half and originally sold for around $2,400. Mustang unveiled it on April 17 1964 and sold 22,000 the first day.
Mustangs have been a popular car ever since. Ford has worked to continually improve them and equip them with the latest technology. In 1965, Ford released the Fastback model in addition to the coupe and convertible from the first year. The fastback was the basis for the Carroll Shelby GT350. Mustang sent a fleet of fastbacks to Shelby, a well-known racer, and asked him to modify them for a special release.
The first two regional specific models of Mustangs arrived in 1968, the California Special and the High Country Special. The fastback was replaced with the Sports Roof design in 1969 and the Mach 1 was rolled out. Ford also released the first two Boss engine Mustangs that year. They had the Boss 302, which was designed for the Sports Car Club of America and the Boss 429 that met NASCAR requirements.
The last year Ford produced the Shelby Mustang was 1969. While they sold 1970 models, they were actually leftover inventory from the previous year. The Mustang Cobra was first sold in 1970. They also produced 96 special models called the Twister Special in 1970 for only for dealers in Kansas.
Ford has made many more changes and special releases over the years, but the most noteworthy one was when they brought back the highly sought after Shelby. The Shelby Mustang hit the market in 2007 after decades of being retired. It is still one of the most popular models.
How much would it cost to insure a classic Ford Mustang?
Ford’s long history and innovation have made the Mustang a classic. Many models are still highly sought after including the original Shelby. Because people generally own these cars for show or to restore, traditional insurance may not cover your needs. Classic car insurance does not work like traditional car insurance and a Mustang generally costs around $200 a year to insure depending on its value.
Classic car insurance has many restrictions that must be followed. They will limit your annual mileage. In most cases, you will only be allowed to put 3,000 miles a year on the car. You will also have to prove every driver in the home has a primary car with insurance. You may also have to provide some type of permanent parking structure for the car on your property or rent a spot somewhere else.
The appeal to classic insurance other than the price is the guaranteed payout price. Before you sign the policy, your classic car’s value will be assessed through pictures sent to the company or an appraisal. Once the value is agreed upon, it is set in stone. If you experience a total loss that is the amount you will receive.