Hi everyone! I'll be 16 in September and I've always wanted to get a Mustang. I'm very interested in the 2011 Mustang GT and I wanted to know how much the insurance might be for me if I got one. Since the car would be 4-5 years old by the time I got it, I thought it'd be a great choice. Let me know what you guys think. Thanks!
2011 Mustang Gt Insurance
- Thread starter ChristianJF
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Christian,
Insurance varies from state to state. You would need to contact an insurance broker in your area to get an exact quote.
There are many factors that go into ins rates, such as your driving history, credit score, etc.. And since you're a new driver at age 16, you may be better off getting on your parents policy. I think getting added to a parents plan as a rider may be your best and only choice, which means your parents take the brunt of your liability, but balance it with their credit & driving history.
Regardless, just because the car is 4 or 5 years old, it's not the car the insurance company is worried about, it's you! Therefor it will have little bearing on the quote you receive.
The largest amount on your insurance will be collision. This is the amount paid out in the event you cause an accident.
The cost is adjustable by the amount of deductible (risk) you take. I carry a $500 deductible, but I have a great driving history.
A $1000 or $2000 deductible will lower the over all cost of the collision, but not by much. This means, if you have an accident you have to pay out the deductible before the insurance kicks in. This could make up 60% of your premium.
The second highest cost on your insurance quote is going to be personal liability & property damage (per person/per accident/property damage), which for you will be HIGH. This could make up at least another 30% of your premium.
All said and done, it wouldn't be surprised if your annual bill ranged between $4500 - $6000, depending on the state you live in. I can only go by here in NH. But if it was MA, it would be a lot higher.
Perhaps your parents will be in the market for a Mustang and occasionally let you drive it while it's registered & insured under their name and you are added as a rider to their policy.
Good luck!
Insurance varies from state to state. You would need to contact an insurance broker in your area to get an exact quote.
There are many factors that go into ins rates, such as your driving history, credit score, etc.. And since you're a new driver at age 16, you may be better off getting on your parents policy. I think getting added to a parents plan as a rider may be your best and only choice, which means your parents take the brunt of your liability, but balance it with their credit & driving history.
Regardless, just because the car is 4 or 5 years old, it's not the car the insurance company is worried about, it's you! Therefor it will have little bearing on the quote you receive.
The largest amount on your insurance will be collision. This is the amount paid out in the event you cause an accident.
The cost is adjustable by the amount of deductible (risk) you take. I carry a $500 deductible, but I have a great driving history.
A $1000 or $2000 deductible will lower the over all cost of the collision, but not by much. This means, if you have an accident you have to pay out the deductible before the insurance kicks in. This could make up 60% of your premium.
The second highest cost on your insurance quote is going to be personal liability & property damage (per person/per accident/property damage), which for you will be HIGH. This could make up at least another 30% of your premium.
All said and done, it wouldn't be surprised if your annual bill ranged between $4500 - $6000, depending on the state you live in. I can only go by here in NH. But if it was MA, it would be a lot higher.
Perhaps your parents will be in the market for a Mustang and occasionally let you drive it while it's registered & insured under their name and you are added as a rider to their policy.
Good luck!
1987stangman
Member
- Jul 12, 2006
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I will add to this post since I just added the 2010 I bought and my insurance as a whole increased by 243.00. This is with Allstate and I have a spotless driving record and have had them for over 16 years. I was actually surprised because back in 2013 when I bought my Tacoma it went down to some degree over the car we traded in on it which was my wife's Pontiac G6.
Yes you are right, but your rates (and mine) are apples and oranges compared to what he's asking. The thread initiator isn't even 16 yet, nor probably even has a learners permit yet, never the less a license.
Besides, I think our young lad hasn't bothered to check back on his post of almost a month ago.
See in your sig you sold an 87 Fox 5.0? Wow, those are actually climbing in value and desire. Wished I still had my 89 LX 5.0.
1987stangman
Member
- Jul 12, 2006
- 684
- 24
- 19
Ah, I missed that part. I have one just graduated that has the same issue. My wife and I wouldn't let him get his permit unless his grades were better and he was far less responsible than the average teen, at least far more than my oldest was at his age so his idea was just not to worry about it. I tried to explain to him that if he waited until he was 18 to get his license then he was gonna get the shock of his life when he started paying for his own insurance.
As far as the Fox Body Mustang goes. I owned that car for over 13 years and had a ton of fun with it. It was in great shape when I sold it to the young kid that bought it. I hated to sell it but I had moved on Mustang wise and it was collecting dust in the garage. I have noticed the prices going up on them which in turn has made the SN95 Mustangs nose dive all of which happened after the 2015 came out.
As far as the Fox Body Mustang goes. I owned that car for over 13 years and had a ton of fun with it. It was in great shape when I sold it to the young kid that bought it. I hated to sell it but I had moved on Mustang wise and it was collecting dust in the garage. I have noticed the prices going up on them which in turn has made the SN95 Mustangs nose dive all of which happened after the 2015 came out.
Sorry it took me so long to get back to the forums but thanks a lot for the reply. I appreciate the time you put in to give me all of the details you did. By the way, I live in South Florida and I got my learners permit in December of 2014. I've also been doing some thinking and I thought that the 2011 GT would be a bit unrealistic for me because I have a single mother and I would have to be paying the monthly car payments and she would cover the insurance part of things. I might go for an 05-09 generation of Mustang just because it might be a more affordable route for me and I'd love a project car. Not sure if the year of the car would matter for insurance though. Let me know what you think!
