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Old 03-23-2015, 03:59 PM   #1
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Mustang Insurance rates

Just called Geico to get prospective quotes on monthly insurance rates for a potential new Mustang. Both the 2014 GT and the 2015 Ecoboost Premium were quoted out at $114 monthly which certainly seems a little high for the Ecoboost. For reference I drive a 2007 V6 and pay $40 monthly. I am 24 and live in Texas. What have you guys found to be average monthly insurance rates on these models?
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Old 03-23-2015, 04:17 PM   #2
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That seems like a good rate. 40 seems strangely low. My 07 is like 110 a month.

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Old 03-23-2015, 04:29 PM   #3
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I think gt's drive rates up a bit. My 04 is $90 a mo., and I bought it because the 07 gt vert I was about to buy was almost double that at $145 per mo. I'm 42 btw with no accidents in California. $114 seems very reasonable for an almost brand new car driven by a 24 yr old

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Old 03-23-2015, 04:52 PM   #4
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Quote:
Originally Posted by lwillow2113 View Post
Just called Geico to get prospective quotes on monthly insurance rates for a potential new Mustang. Both the 2014 GT and the 2015 Ecoboost Premium were quoted out at $114 monthly which certainly seems a little high for the Ecoboost. For reference I drive a 2007 V6 and pay $40 monthly. I am 24 and live in Texas. What have you guys found to be average monthly insurance rates on these models?
It also depends on what your coverage is.
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Old 03-23-2015, 04:57 PM   #5
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I have Geico and here's a snapshot of my '14 GT policy with Las Vegas rates.
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Old 03-23-2015, 06:29 PM   #6
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I got to get out of New York, I'm paying double that in NYC.
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Old 03-23-2015, 10:49 PM   #7
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Mine is pretty cheap. 2014 VW Jetta, my 2014 GT, and a 96 ford ranger for 625 every 6 months. God bless USAA and the perks I get from military service
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Old 03-23-2015, 11:01 PM   #8
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This is so subjective. Car insurance varies enormously depending on where you live, your age, driving record, previous claim history and credit score.
I'm 44 and my rate is just about the same no matter which 30k car I drive.
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Old 03-23-2015, 11:58 PM   #9
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Originally Posted by Waylap1 View Post
This is so subjective. Car insurance varies enormously depending on where you live, your age, driving record, previous claim history and credit score.
I'm 44 and my rate is just about the same no matter which 30k car I drive.
This ^^^^

I'm 20 with an 01 with a V8. Even the most basic coverage is higher than most of what you guys are paying for multiple cars with full coverage.
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Old 03-24-2015, 09:37 PM   #10
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Originally Posted by Waylap1 View Post
This is so subjective. Car insurance varies enormously depending on where you live, your age, driving record, previous claim history and credit score.
I'm 44 and my rate is just about the same no matter which 30k car I drive.
Well said,

It certainly is not as black and white as whether you choose a v6 or v8. There are so many variables that come into play.

For some reference, I am 25 and the insurance on my Mach 1 with twice the deductible is more than my 14 F150 FX4 is, same limits, same coverages minus the deductible, and that's with multiple "discounts" applied.

Despite the car being 11 years old, the car itself is considered a premium high risk unit.

As said it it's so subjective, best bet is to shop around and settle for what you are comfortable with.
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Old 03-24-2015, 11:40 PM   #11
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It also greatly depends on how the car is classified. Daily driver or weekend car with low miles. I'm 24 and pay about 75 a month for my 11 GT and have more coverage than the pic posted earlier. That car only sees 4500 miles a year though and that's why its cheap.
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Old 03-25-2015, 07:11 AM   #12
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Prior to being 25 and married in Delaware I paid $125 a month for a 95 Cobra and that was just liability. After I turned 25 and moved to NJ where insurance usually screws you, it dropped to like $40/mo. When I had my 98GT I paid $20/mo with esurance, liability only. I am now 32, 0 points on license, married with excellent credit.

I'd have to call and see how much but I know a newer Coyote is going to be $$$ with full collision even with my record and credit score. This is one of the driving factors for looking at older "fixers" vs a new cars honestly. I keep looking for that 4 banger notch fox that some old person is selling for $1000 with a blown trans lol.
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