Mustang Insurance Cost in India

Ford Mustang is a dream car for most car lovers. If you are planning to purchase a Mustang shortly, ensure that you opt for the best comprehensive insurance policy to protect it from damage and loss, as repair of this luxurious car can cost you exorbitantly in case of any unexpected damage and loss. A comprehensive mustang insurance policy covers you for your own damage, third-party damage, theft, and so on. The Mustang insurance cost in India is majorly based on its model, age, engine capacity, and so forth.

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Introduction About the Mustang Car Insurance

In 2021, Ford revealed plans to phase out its manufacturing in India, and signalled that it would do business through the sale of completed units and importing cars into India. As part of this, Ford revealed that it planned to bring the next-gen version of its iconic Mustang to India in the second half of 2022. Whilst there is limited information about the same, the mustang is expected to come with a V8 engine that is capable of outputting about 475 brake horsepower, and 590 Nm of peak torque. The new Mustang is likely to come in at a price of Rs 75 Lakhs and above when it launches.

 

However, if you happen to have a mustang from before, you may be looking to get a renewal on your car insurance, especially given that the cost of repair and replacement of parts due to an accident is likely to increase now that Ford is not manufacturing in India anymore.

Check The insurance for Mustang Variants

Your Insured Declared Value (IDV) is the maximum amount of insurance coverage for your vehicle. It reflects the market value of your car, which is different from its resale value and takes into account the condition of your car, its age, the brand and model and so on.

Variant Name

Ford Mustang price (Ex-Showroom*)

Fuel Type

Estimated Third-Party Premium~

FY 2022-23

(effective 1st April, 2022)

 

5.0L V8

Rs. 74,62,000

Petrol

₹7,897

How to Buy Mustang Insurance Online?

The Finserv MARKETS website makes it extremely easy for you to buy Ford Mustang car insurance by comparing the insurance cost involved with various insurance plans. You can follow these steps to buy and compare Ford Mustang insurance cost on the Finserv MARKETS website.

 

  1. Once you have navigated to the website, enter your car number and your phone number at car insurance premium section.

  2. Fill out the remaining details for the application form and hit ‘Submit’

  3. Once you have done this, you can browse through the various Mustang variants and Ford Mustang insurance to pick a plan that best suits your needs.

  4. Once you are content with your plan of choice, you can proceed to pay the premium online instantly

  5. Once your policy is ready, you will receive your policy documents in an email.

Read More: Ford Car Insurance

How to Renew Mustang Insurance Online?

Your Ford Mustang mileage and other factors about your car deteriorate over time, including through everyday use. Therefore, car insurance policies are renewed on a routine basis to account for the most current condition of the car when you insure it. Your Ford Mustang insurance cost, therefore, can vary when you renew your policy. Here is how to renew your policy.

 

  1. Visit your insurance provider’s website, and proceed to enter the registration number of your Ford Mustang, and your phone number.

  2. You will be required to fill in the details of your existing policy, and you can proceed to do so.

  3. Check the Mustang car insurance costs for your renewal.

  4. Proceed to pay the updated premium, and your policy has been renewed!

  5. The company might send a person to inspect the condition of your car before renewal of your Mustang car insurance.

Read More: Car Insurance Renewal

Why Should You Insure Your Mustang?

Here are some reasons why you should opt for Mustang car insurance, and not skimp on the insurance costs.

 

  1. Opting for Mustang car insurance is compulsory whenever you purchase one. However, this is limited to third-party insurance which covers damages to a third party in case of an accident.

  2. In the event of your car being stolen or damaged due to conditions out of your control, you will have some kind of financial backing through your insurance provider. This is especially important given that the Mustang is a luxury car, and thus replacement or repair will be costly, especially now that Ford has stopped manufacturing in India.

  3. You can also get additional benefits with add on covers on your Mustang car insurance.

  4. Your friends and family will be covered as well (with comprehensive car insurance) in the event that they require medical attention due to an accident.

Types of Car insurance

1. Comprehensive Car Insurance

As you can tell from the name of the type of insurance, comprehensive car insurance offers you all the possible facilities you could get in a car insurance plan, save for some add ons that you will have to purchase separately. From coverage against death, injury, floods, theft, fire, and extreme weather conditions, a comprehensive car insurance plan for your Ford Mustang variants also covers damage to the car, and theft of your vehicle as well.

2. Third-party Car Insurance

Since it is mandatory to insure your Ford Mustang, even third party car insurance provides coverage for all the basic requirements, as that is the minimum plan you will have to get if you are purchasing a car, and the policy is designed keeping this in mind. Given that this Ford Mustang plan is more affordable, there are some exceptions such as there being no coverage against your own damage to the vehicle or medical coverage for your passengers in the event of an accident.

Inclusions in Mustang Car Insurance

Car insurance is built in a way that ensures that you are protected financially in the event that you are in an accident, or that your car has been stolen. Therefore, here are some things that will lead to valid claims, as they are on the list of inclusions for your Mustang car insurance.

 

  • Damage due to natural disasters such as earthquakes, floods and so on

  • Personal injury caused by an accident

  • Damage sustained due to an accident

  • Theft

  • Damage caused to the car, the reason for which is not driver’s negligence is also covered under the Ford Mustang Insurance

  • Fire

  • Vandalism

  • Damaged caused by a third party

  • Damage due to a man-made hazard

Exclusions in Mustang Car Insurance

Sometimes, your car may incur damages either due to your fault, or owing to illegal conditions. Additionally, insurance companies also have to protect themselves from exploitation and insurance fraud. Some things, therefore, are excluded from being the basis of your Ford Mustang insurance claim.

 

  1. War or Nuclear Threat

  2. Damage incurred if the Ford Mustang was being used for illegal purposes or activities

  3. Commercial use vehicles with separate insurance policies provided for them

  4. An expired Ford Mustang Insurance plan

  5. Consequential damage (such as damage done to the vehicle due to an unchecked oil leak that causes the gearbox to fail)

Add-On Covers for Your Mustang Car Insurance

1. Personal Accident Cover

Personal accident cover for your Ford Mustang variants ensures that in the event that an accident takes place that causes injury, death or disability to the passengers, the medical expenses that follow are accounted for, meaning there is in essence, a medical insurance aspect to your Ford Mustang insurance plan as well.

2. Roadside Assistance

Sometimes you might find yourself in a situation where you are not in an accident, but still require roadside assistance because your car broke down. Roadside assistance, therefore, will ensure that you can avail of emergency services that will assist you if you require help.

3. Engine Protection

Engine protection cover as an add on for your Ford Mustang insurance ensures that in the event that your vehicle has issues with the engine due to oil leaks and so on, the repair costs are covered under your Ford Mustang insurance plan.

4. Personal Baggage Cover

We tend to carry a lot of personal items with us in our cars, especially if we’re taking a trip. This add on will ensure that if any of your personal possessions are damaged or stolen from the car, you are compensated for the same.

Read More: Add-on covers for car insurance

Mustang Insurance Claim Process

How to File your Mustang Reimbursement Insurance claim

A reimbursement claim against your Mustang car insurance requires you to first pay the costs of our pocket in the event that you are in an accident, with the insurer then reimbursing the costs with the garage. Here are some steps you should follow to file a reimbursement claim against your Mustang car insurance:

 

  • Notify if your insurer as soon as an accident/incident takes place

  • IIf the car has been stolen, ensure you file an FIR at the earliest, and submit a copy of the same when you provide your other policy documents

  • You can now send your car to a garage of your choice for repair.

  • Ensure you keep all the receipts, so you can submit them to your insurance company

  • If the insurance company is able to ratify and validate your claim, you will receive a reimbursement to the tune of the repair costs for your Ford Mustang.

How to File a Cashless Car Insurance Claim for your Mustang

If you have been involved in an accident or incident with your car, inform your insurance company as soon as possible. You can do this either through their website or app. If the company offers cashless claims at your garage of choice, you can fill in the online application and proceed with depositing your car at an affiliated garage.

 

One of the biggest benefits of a cashless claim is that you do not have to spend any out of pocket costs to repair your Mustang, as the insurance company will deal with all payments.

 

You will be required to provide the following at the time of your online application for a cashless claim against your Mustang car insurance.

 

  1. Insurance policy document.

  2. A copy of the FIR (if filed)

  3. Driver’s license

  4. Registration documents.

 

Now, follow these steps to complete your repairs and claim

 

  1. Intimate your insurance provider as soon as an accident takes place

  2. Go through the list of affiliate garages, and deposit your Ford Mustang there for repairs

  3. Submit the required documents to your insurance provider

  4. If your claim is validated, the repairs will take place and the insurance company will deal with the costs.

In order to make your insurance claim for your Ford Mustang, you will have to submit a number of documents for your claim to be valid and accurately processed. By knowing about the documents required to make your Mustang car insurance claim, you can ensure your claim is processed correctly the first time itself. Here are some documents you will require.

 

  • Details of your insurance provider

  • Your policy number

  • Your vehicle details such as the number plate, and registration documents.

  • Document with details about the incident that is causing the claim

  • If an FIR has been filled, a copy is required

Read More: Car Claim Settlement Process

How to Keep your Premiums Down

You can follow some of these steps to minimize your premiums on your Mustang car insurance, whilst still getting the necessities you require.

 

  1. Ensure you buy a Mustang car insurance policy that provides exactly what you need and not more.

  2. No Claim Bonus provides you with benefits such as reduced premiums in the next year if you haven’t made a claim in previous years.

  3. Drive safely and do not stress the car unnecessarily, wearing out its parts in advance.

  4. Raise your deductibles, or your out of pocket payments, to keep premiums down.

Top Tips to Maintain your Ford Mustang

Cars, including the Ford Mustang, are generally designed in a way that helps them sustain the rugged roads that we use them in, and also in a manner that will keep them in at least repairable condition if they are damaged. Nevertheless, while you cannot do much about things like the Mustang ground clearance which might make your car prone to damage from rocks and rough roads , you can do other things to improve your Mustang’s mileage. Here are some tips:

 

  1. Ensure that you keep your Ford Mustang covered when it is not being used to protect the paint

  2. Ensure that you are maintaining the doors and window seals with silicone rubber protectors routinely.

  3. Don't ride too hard on the brakes or clutch as this will wear the pads out. Use only when necessary.

  4. Clean your car routinely from the inside out

  5. Ensure you meet all your maintenance appointments, and pay attention to all your indicators that tell you what in your car needs changing.

Ford Mustang Maintenance Cost

Maintenance costs for your Ford Mustang variants are split into two parts; Costs of routine maintenance of parts, and the cost of replacing parts if your Ford Mustang has been damaged. Let’s take a look at both

The Cost of Replacing Damaged Parts

By knowing not only your Ford Mustang price, but also the cost of replacing parts for your Ford Mustang, you can plan a good maintenance schedule to keep your Ford Mustang up and running in as good a condition as possible.

Components to be Replaced or Serviced and Different Time intervals

Here, let’s take a look at the things that have to be done to maintain your Ford Mustang at different time intervals.

Time Interval (In terms of KMS driven)

Recommended Maintenance

10,000

Change Car oil and filter, rotate tires and replace the cabin filter

20,000

Rotate Tires, change oil and filter, replace the air filter

30,000

Rotate the tires, Change filter and oil, Replace Air Filter

40,000

Rotate the tires, Change filter and oil, Replace Cabin Filter

50,000

Rotate the tires, Change filter and oil, Replace Air Filter, Replace Cabin Filter

60,000

Rotate the tires, Change filter and oil, Replace Cabin Filter

70,000

Rotate the tires, Change filter and oil, Replace Air Filter

80,000

Rotate the tires, Change filter and oil, Replace Spark Plugs, Replace Cabin Filter

90,000

Rotate the tires, Change filter and oil,

100,000

Rotate the tires, Change filter and oil, Replace Cabin Filter, Replace Air Filter

110,,000

Rotate the tires, Change filter and oil, Replace Transmission Fluid, Replace Drive belts.

On Road Price in Top Cities

City

Ford Mustang On Road Price

Delhi

₹ 84,75,015

Pune

₹ 93,44,066

Mumbai

₹ 93,52,180

Hyderabad

₹ 88,87,839

Bangalore

₹ 93,32,878

Features of the Ford Mustang

Variant

Ventilated Seats

Touchscreen panel

ABS

4X4 DRIVE

Off Road Tires

V8

Yes

Yes

Yes

No

Available for upgrade

Conclusion

Furthermore, having a detailed understanding of how your car insurance works can help you maximize what you get out of it.

 

If you are looking to purchase Mustang car insurance, the Finserv MARKETS website has a host of options available for you to choose from. Visit the website today to pick a car insurance plan that best suits your and your Mustang’s needs. 

Check Out Car Insurance Plans Available at Bajaj Markets

 

FAQs on Ford Mustang Insurance

  • ✔️Is car insurance mandatory?

    Yes. It is by law, mandatory to insure your vehicle when you purchase it, at least with third party car insurance. 

  • ✔️How Do I Keep My Ford Mustang Insurance Costs down?

    The mustang is an expensive car, and will thus be expensive to insure. That being said, insurance is a necessity, not just because of the law, but also because financial assistance will be crucial in case of damages to this luxury car. You can keep insurance costs down by ensuring your car is well-maintained and driven, thus reducing the risk for the insurer. 

  • ✔️Will my car be inspected every time I want to renew my Ford Mustang Insurance Policy?

    Yes. An insurance provider will carry out an inspection every time they grant or renew a Ford Mustang policy

  • ✔️What will happen if I do not renew my policy for my Mustang?

    If you are caught operating a vehicle without the appropriate insurance, it could be grounds for your driver’s license and vehicle’s registration to be cancelled, as well as result in fines.

  • ✔️Can I renew my Mustang Car insurance policy a while after it has expired?

    Yes, you can. Though it is recommended that you ensure your policies are always up to date.

  • ✔️What is IDV?

    IDV stands for Insured Declared Value and is the maximum amount of claim that an insurance provider will pay out if your vehicle is lost or declared as a total loss. You can manually select the IDV at the time of purchase of a car insurance plan.

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