3v Mustang Insurance

Discussion in 'Mustang Chit Chat' started by K Beamesderfer, Jan 24, 2023.

  1. K Beamesderfer

    K Beamesderfer Junior Member

    Hello. I’m currently looking for a 3v mustang but I wasn’t sure how much insurance was. I live in Pennsylvania, and I know it can vary from state to state, but I was wondering how much it is monthly or annually. Thanks

    I am currently 15 and it would likely be my first car, so I’m kinda on a budget!
    Last edited by a moderator: Jan 25, 2023
  2. Macman45

    Macman45 Resident Geriatric

    V6 vs V8 will make a difference. When I was 18 my insurance wasn't cheap on my GT, V6 would have been less. If your parents are willing, put one of them on the Mustang and put you as a driver, and then put a different car for your specifically. For me, it was an old Chevy Tahoe. Allowed my lawn mowing money to cover the monthly insurance.
  3. Forty61

    Forty61 forum member

    I don’t know what kind of useful info you’ll get here, insurance is too messy to boil down to simple answers.

    We insure my wife’s Subaru comprehensively and my ‘08 CS with just third-party since it’s already cosmetically not great and doesn’t get driven much at all. Our bill is under $100 a month BUT I’m more than twice your age. I don’t think most insurance companies are going to hear “first car”, “300hp V8” and “Mustang” and be happy about it.
  4. Macman45

    Macman45 Resident Geriatric

    But look on the bright side: if you keep it long enough and get another daily, when you're my age (28) you can insure with Classic Car insurance and pay $300 a YEAR for full coverage. It's great
  5. Hollowdweller

    Hollowdweller Member

    In 1997 I was 17yrs old and my parents got me a 95 V6 and the insurance was about $1200 every 6mths…I remember bcz it became a huge deal, parents weren’t expecting that. Then in 2002, age 22, I got my 1st V8 stang and it increased $300 every 6mths. I was making a ton of money at the time and didn’t mind. Now at 44yrs old I pay $17mth full coverage, with 2 others cars on the policy, for my 06 Roush. In OK, progressive & State Farm rates

    My son is about to turn 16 and this is what I did. I bought him a car b4 he turned 16 and put it on my insurance bcz he’s not a listed driver. The cars covered so he can drive it and be covered BUT if he gets a ticket the insurance company will prob inquire about him and my rate will go up.

    The bad news for you is when you do go get your own insurance you would’ve never been listed on a policy so you will start to pay “new driver rates”….this is what my agent told me about my son anyways
  6. Juice

    Juice forum member

    You can get online quotes. Thats more accurate than answers here.
    Do shop around. We are in PA, and I tried to save 15% as the lizzard said. Turned out their quote was 25% MORE!
    Also, if you opt in with tracking, you can save. Now days, they have an app for your phone. Drive safe and you can save.
  7. stkjock

    stkjock ---- Madmin ---- Staff Member Administrator Super Moderator S197 Team Member

    No way for any of us to know, I'd suggest you ask your parents (if you're able) to reach out to their insurance agent/company and inquire about adding the car to their policy as it will be the least expensive way in general to obtain a policy
    Last edited: Jan 25, 2023
    Jim O likes this.
  8. Jim O

    Jim O Junior Member

    @stkjock has given you the best advise. I am an insurance agent..so the best thing is to register the car to your parents and put it on their policy. If not, and you must do this on your own prices will be very high no matter what car you buy. Especially if you want the protection of collision and comprehensive. So, start with your parents and if thats not possible just start phoning insurance agencies in your area.
    JC SSP likes this.
  9. Laga

    Laga Senior Member

    I was on Reddit the other day, and a 22 year old just got a 2022 GT. Out of curiosity, I asked what his insurance was. His, and others like him that replied, were in the $200 a month range.
  10. Iceman62

    Iceman62 Bullitt 6005

    As stated above, both of my kids started as adds to our auto policy, then transition to their own after age 25 (my parent bonus to them). Have your parents get a quote for adding, to see the low cost & you could always check w/ three agencies and compare. IMO - you'll be better off, ant on budget, to ride on parent's plan.

    Also, keep a clean driving record...which can be hard with a Mustang. :D
  11. XJCasper

    XJCasper forum member

    At 48
    Who are you insuring through? When i referenced a collectors insurance, I was told my 05 GT is not valued high enough.

    Currently I am paying 424 per month for my wife(46), son (20), and myself (48).
    This covers a 2023 Niro, 2023 Sportage, and a 2000 Legacy. My mustang is on there for storage coverage. When I add the mustang to drive? It costs over 200 extra per month.

    Due to the insurance cost, my mustang is only drive when necessary and during my summer cravings.
    Macman45 likes this.
  12. Macman45

    Macman45 Resident Geriatric

    Wow you may need to switch insurance companies. My mustangs are through Hagerty. They have a thing in there for limited production and had spots for Shelby GT, Bullitt and GT/CS of all things and I have agreed-upon value coverage.
    $200 a month for an 05 GT is outrageous. Does someone on your policy have a bad driving record?
    I will say I have to have my trucks insured with regular insurance to qualify, which is easy. I use state farm there. My 2020 King Ranch is only about $80 per month with full coverage. I do have a perfect MVR
    XJCasper likes this.
  13. zoomerman46

    zoomerman46 forum member

    Have had my 2005 GT insured with Grundy's for the last 16 years.Insured for full agreed upon value of 26,500. No mileage restrictions but cant be your primary car and must be garaged when not being used. Cost $354.00 Yearly. $300,000/10000 coverage.Plus all OEM parts if available.
    XJCasper likes this.
  14. XJCasper

    XJCasper forum member

    My 05 is custom (body kit, etc...) but Hagerty told me it was not valuable enough years back. Might need to start shopping again.

    Will have to enquire with Grundy's.
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