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Insurance for the mustang

doobynuts

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Will the V8 mustang be simple to insure with all the big insurance companies?
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Azairious

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yes it will be, for how much though is anybodies guess. i'm guessing if your young buying a sports car it's going to cost a lot, when i was young i bought a supra, 4k a year just for insurance really sucked.
 

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NRMA lists it on their website to get a quote... but when you try to submit, they say you need to call them.

I'd read that as, they will insure it, it's just a matter of time, so I'm not worried just yet :)

It shouldn't be any worse than any other hi-po car.
 

Aussie MustangGT

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The price of the car is in its favour but the sports car/V8 engine isn't. There is Shannons, but I have insured my FPV BA GTP, FPV FG GTP and FPV R-Spec through Ryno which have been very good to me. The last cars policy cost $1200 with $500 excess for $82000 cover.
 

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What would be ironic is if the V8 costs less to insure than the EB - since it's a Turbo and there's always a premium on Turbos, especially for under 25s :)

No claim discounts, multiple policy discounts, they are your friends.
 

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G RUSH

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I had a play with online insurance quotes sometime ago:

I've actually had a bit of a play and, being a 2 door V8 its probably in a different risk category to the FPV's, and the fact that it's an import.

SO, i've had a look see at insurance with RAC on a 2008 M3 which is roughly similar cost and whallah, $1350 for somebody our age.

I don't know why I thought it'd be much worse, but that's not too bad.
 

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I'd expect the insurance companies to be a bit more wary of a brand new model with an initial low production run, they just don't know how expensive they'll be to repair/replace yet, so will probably err on the side of higher cost.

- M3 shares a number of components with lower model BMWs, so likely to be more parts availability => lower repair costs
- M3 is an older car, so more established parts market => lower repair costs
- Higher initial purchase cost and higher ongoing maintenance costs for BMW often prices out hoons - even though the second hand price may be the same
- Does anyone know about security feature comparison? e.g. the old WRXs started getting data dots to limit their part resale; no idea on M3 vs Mustang
- Mustang being rare and new could be a magnet for theft? No idea
 

G RUSH

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I'd expect the insurance companies to be a bit more wary of a brand new model with an initial low production run, they just don't know how expensive they'll be to repair/replace yet, so will probably err on the side of higher cost.

- M3 shares a number of components with lower model BMWs, so likely to be more parts availability => lower repair costs
- M3 is an older car, so more established parts market => lower repair costs
- Higher initial purchase cost and higher ongoing maintenance costs for BMW often prices out hoons - even though the second hand price may be the same
- Does anyone know about security feature comparison? e.g. the old WRXs started getting data dots to limit their part resale; no idea on M3 vs Mustang
- Mustang being rare and new could be a magnet for theft? No idea
Whoa, that's a lot of analysis. I just did the M3 comparison for a thumb suck figure. The more expensive supercharged FPV's were cheaper to insure, around $1,250 IIRC.

My Toyota 86 was a similar story (new release etc) when I got it in December 2012 and it was under $1K.
 

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Whoa, that's a lot of analysis. I just did the M3 comparison for a thumb suck figure. The more expensive supercharged FPV's were cheaper to insure, around $1,250 IIRC.

My Toyota 86 was a similar story (new release etc) when I got it in December 2012 and it was under $1K.
Yeah, hard to know, I'm purely guessing :)

The FPVs again, share a lot of parts with the lower models and are made in Australia.

The 86 has less power than a Camry, which gets it some insurance points :) and it's cheaper than the Mustangs. I think (don't quote me on this) the engine has a lot of shared components with other subie products (FA20 variants are in a few of their cars, right?)


Edit: AAMI, Allianz, GIO and Budget Direct don't list the Mustang yet, NRMA lists it but says to call them for a quote... so it's still too early to tell.
 

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G RUSH

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The 86 has less power than a Camry, which gets it some insurance points :) and it's cheaper than the Mustangs. I think (don't quote me on this) the engine has a lot of shared components with other subie products (FA20 variants are in a few of their cars, right?)
Well, when it was released late 2012, it was the first product with the FA20, on a modified chassis version of the [yet to be released] new WRX at the time.

Power to weight is reasonable, the fact that it's RWD reminded insurance companies that all the kids selling their FWD to buy it would get a rude shock when they tried to drive the car like you would a FWD.

Then the accidents started happening, and the insurance has crept up a bit over time - but in the end it was a similar proposition in terms of the 'new to market' car. Anyways, I was expecting about $1,200 at the time but it ended up being under $1K.

I had a play with the sensitivities of the online insurance quotes, and I didn't see numbers too far past $1,300 when I was playing with it for cars like the Mustang. But yeh, totally guessing.
 

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Most of the price of insurance premiums are derived from the cost of a slow front end hit, which is the most common accident. Falcon front end parts are quite cheap, thus the insurance is generally low. The cost of headlights, bonnets etc on a mustang are pretty high...I think we may be in for a nasty shock when insurance quotes become available,
 

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Shannons over the phone quote, they also emailed me the quote;
$966 for the year.
$500 excess.
EB auto Fastback.
There are a lot of variables when quoting for insurance,
Drivers age & Driving record, Claims history, where the car is parked at night, even suburb can effect the price.
I'll be doing more shopping around before the car arrives.
 

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Shannons.

They understand we like to modify our cars.
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