Ford’s first all-electric SUV gets the Mustang brand and moderately high insurance rates.
Ford Mustang is getting a surprise new entrant into its lineup with the Mach E, an all-electric SUV. The Mustang Mach E shares little with other Mustangs besides the name, but is still expected to make a splash in the crossover electric SUV market.
The Ford Mustang Mach E is an electric crossover SUV that’s somewhat expensive to insure for an electric vehicle. The average insurance cost for the Mach E is expected to be around $240 a month, or $2,880 a year. With an expected base price of $43,895, the annual insurance cost-to-base ratio is 6.5%, which is above the national average of 4% but in line with other sporty electric vehicles.
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Insurance for electric vehicles is higher than for gas powered vehicles, mainly due to the more expensive parts and higher costs of the vehicles. In addition to the electric nature of the Mach E, the following factors play a role in determining the vehicle’s insurance rates.
Body type. The Mach E is the first crossover SUV with the Mustang brand. Crossover SUVs generally have among the lowest insurance rates of any vehicle type, though the electric engine partially offsets those low rates.
Fuel. The Mach E will have a reported range of up to 300 miles, which places it among the longest range for SUVs. It’s nice to be able to save money at the gas station, but the electric parts can cost more to repair than gas-powered vehicles.
Theft rates. Since this is Ford’s first SUV with the Mustang name, there is little theft information for insurance companies to rate on. However, electric SUVs do tend to have lower theft rates than their gas-powered counterparts.
Maintenance. You can expect to pay high maintenance costs for the Mach E. Ford SUVs tend to have above-average maintenance costs, and electric vehicles have higher costs than gas-powered ones.
Coverage. With a sticker price of $45,000 that goes up to $60,000 for fancier trims, you’ll likely want to fully insure the Mach E. This includes both comprehensive and collision coverage as well as sufficiently high liability limits. You may also want to consider having at least $50,000 limits for uninsured motorist property damage to cover the full cost of the car.
Warranty. Ford has different warranties for its electric vehicles, including an eight-year, 100,000-mile one for electric parts. It also has roadside assistance for five years or 60,000 miles, which means you won’t need to add this to your insurance policy until you’ve reached one of those limits.
Manufacturer offer. Ford will have various special offers for the Mach E in addition to the federal tax incentive of $7,500 you can get for purchasing an electric vehicle. Check with your local Ford electric vehicle dealership to see what they can offer you.
How reliable is the Mustang Mach E?
Official safety ratings on the Mach E haven’t been released yet, but you can reasonably expect it to meet or exceed the ratings of the Ford Escape.
Safety. The 2020 Ford Escape received the Top Safety Pick award from the Insurance Institute of Highway Safety, while the 2019 version received a 5 out of 5 safety rating from the National Highway Traffic Safety Administration. Expect the Mach E to receive similar safety ratings.
Reliability. The 2020 Ford Escape received a 3.5 out of 5 star reliability rating from J.D. Power, but this might not affect the all-electric Mach E rating. Though you can reasonably expect for it to have at least a 3-star reliability rating.
Recalls. Ford does occasionally issue recalls across its vehicle lineup. Considering the Mach E is its first all-electric SUV, there could be a possibility for some type of recall on it.
Bottom line
The Ford Mustang Mach E is the first all-electric SUV in the Ford lineup. Despite being branded as a Mustang, the Mach E differs from a traditional Mustang car. With a long range per charge and good safety features, the Mach E should be a popular buy — but watch out for potentially pricey insurance rates.
Before purchasing an auto insurance policy on your Mach E, you might want to compare different insurance companies to find the best option for you.
Frequently asked questions about the Mustang Mach E
No, you will need to buy the Mach E from an electric vehicle-certified Ford dealership.
Very little other than the name. Ford decided to give its first all-electric SUV the Mustang brand name — and it does share some styling similarities with the high performance car — but nothing else is the same.
It’s pretty much right in line with where you would expect it to be considering its base price. But the yearly rates are expected to be more expensive than the overall national average by over $1,500.
There are cheaper electric SUVs on the market with lower insurance rates, but there are also more expensive luxury ones that cost more to insure. The Mach E is a mid-tier electric vehicle to buy and insure when compared to other vehicles of its class.
Andrew Flueckiger is a licensed insurance agent and Certified Insurance Counselor with experience in insurance and finance. A graduate of Indiana University, Andrew contributes a wealth of knowledge and experience to Finder. When Andrew isn’t writing, reading or practicing insurance, he can be found spending time with his family and playing the guitar. See full bio
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