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.
I have full coverage on my 2011 Mustang GT vert, full coverage on my wifes 2013 Ford Focus and liability on my 1996 Mitsubishi Montero and my premiums are $365/ 6 months for all 3 vehicles!
I am with GEICO, 42 years old, married, no tickets, no accidents/claims in last 12 years. My party may soon end as I will soon have a 16 year old that needs car insurance.
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).
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.
The insurance on my Mustang GT is significantly less than it was on my Jetta TDI or my Mini Clubman S. I pay about $106 a month. I'm 26 and have no tickets or accidents. YMMV! I would shop around for sure.
ETA: This is with 100k/300k and 500 deductibles on comp and collision.
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.
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 $13 increase in my half of the insurance bill (for 6 months).
I don't remember what the difference was between the Grand Marquis and my wife's Mustang but it wasn't much either way.
Mid 40's, no tickets that count, decent credit, Progressive customer since 2005.
Wow, if my insurance went up that high, Id probably crash it into a wall on purpouse just to make them get me a new one....I DONT RECOMMEND THAT THOUGH!@!
Just picked up a 2014 GT Premium. I am paying 258 a month right now. With 2,500 deducatable on collision and comprehensive. Insane. But also, V-Power here is 1.68 /L .. about 100$ to fill up. You know somethin though? It's all worth it when you step onto that throttle.
I thought mine was bad..700 bucks holy crap.im 23 and I pay 321 a month for full coverage on my v6 and liability for my wifes 98 honda civic. I have a 500 dollar deductible.
My insurance for my GT was around 750 a year for 250000/500000 and I am only 30. No fault accidents or anything. BUT when I got a quote on the next stang it was at 1200.... So I feel your pain.
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.
Damn son I can't beat that $750/month (nor do I want to). But $2k/year here in NJ for a V6 is more than enough for me. Clean record.
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