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Got my insurance bill for my new GT Premium- Holey Moley!

7K views 67 replies 48 participants last post by  mdmaggio 
#1 ·
I picked up my new 6 sp. GT Premium about a week ago. The insurance bill for it came today and it has increased $600 a year over the Nissan Xterra the GT is replacing!! I called my agent who told me insurance for the Mustang GT is very expensive due to accidents and tickets Mustang owners accumulate. She suggested my wife and I should take defensive driving courses and we'll save about $200 a year. The courses are given at our local library and I assume at one point during the course we'll have to push the book carts around (safely).
BTW, my insurance company is Nationwide and I live in a suburb of New York City on Long Island.
 
#36 ·
This what I did when my kids started driving. I bought them each well-used cars and paid cash. Both are insured for liability only. My agent told me that the value or type of car doesn't matter, that the premiums are all (nearly) the same. I told each that if they get in an accident and it's their fault, the car is broken until they make enough money to pay and fix it.

I also told them that if they get a moving violation, that I would mail their license to my insurance agent with instructions not to return it for 12 months.

My youngest is now 19 and the oldest is 21, and neither has has any moving violations. The youngest has has two minor accidents, neither was her fault. On one she got hit from behind and pushed into the car in front, and the cop (wrongly) claimed it was her fault, so I paid to replace and paint both bumpers. The second, someone backed into her while she was parked (and reported it), so that was repaired by the other kid's insurance. The oldest slid on the snow and knocked over a mail box, but the damage was so slight we didn't bother to fix the car (but we did fix the mail box).
 
#37 ·
I called my agent who told me insurance for the Mustang GT is very expensive due to accidents and tickets Mustang owners accumulate.


So your friend/agent found you "guilty" before you received any tickets or were involved in an accident. This is the USA, you must receive the tickets and be found guilty as well as being at fault in an accident before racing your insurance. He is not your friend, only your agent.
 
#39 ·
Cheapest in my area is State Farm for me

Paying $770 every 6 months for full coverage with high deductible. GT would've been $940.....

My Honda was $4xx every 6 months
 
#40 ·
I would shop around before paying the bill. I just bought a new 14 GT and my insurance company for the last 10 years or so wanted another $100 a month for the new car. Called USAA and its going to cost another $50 plus I get better coverage for all three cars.
 
#43 ·
my breakdown just for the Mustang (i have 2 cars on my policy)

$851/year
Comprehensive Deduct - $500
Collision Deduct - $1,000
Injury - $250,000/$500,000
Property - $100,000
 
#44 ·
Strangely enough, my liability actually went DOWN $37 and the collision went up only $50 versus my 10 year old F150 (to be expected) so the net effect was a $13 increase in my half of the insurance bill (for 6 months).

I don't remember what the difference was between the Grand Marquis and my wife's Mustang but it wasn't much either way.


Mid 40's, no tickets that count, decent credit, Progressive customer since 2005.
 
#46 ·
Mine is 750 a month.
 
#48 ·
???????????????????????????????????????????
I hope you mean every 6 months at least......
 
#47 ·
Wow, if my insurance went up that high, Id probably crash it into a wall on purpouse just to make them get me a new one....I DONT RECOMMEND THAT THOUGH!@!
 
#51 ·
I have, shouldn't have had a fully modded v8 trans am w/nos at the age of 15 lol.
 
#56 ·
Just picked up a 2014 GT Premium. I am paying 258 a month right now. With 2,500 deducatable on collision and comprehensive. Insane. But also, V-Power here is 1.68 /L .. about 100$ to fill up. You know somethin though? It's all worth it when you step onto that throttle. :)
 
#59 ·
I always say, if they buy it, they can drive it into the ground. I have a nephew who just bought a beat up truck. He loves that thing to death. Parks it a mile away from anything in parking lots, washes it twice a day. Not that you would notice another dent in it. I have seen wealthy older adults buy collector cars and don't appreciate them. Its just a status thing. And then trash them. So I guess it would just depend on how much they love cars.
I wish that's what I paid! Lol
 
#60 ·
I just checked mine. I pay $68/month for full coverage. waycool.gif
 
#61 ·
Mine is like 80 bucks a month for my GT.... weird.

I haven't gotten a speeding ticket in 8 years though...
 
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