The Mitsubishi FTO is a sports car that was produced by the Japanese manufacturer throughout most of the nineties. It’s compact, powerful, flash and is relatively cheap to insure. In this guide, you’ll find out how much it costs to insure based on the age and location of the driver.
What insurance group does the Mitsubishi FTO fall under?
All vehicles are given a specific insurance group that ranges from 1 (cheapest) to 50 (most expensive) which helps determine the cost of your premium. Mitsubishi FTO models can be found in insurance group 20, meaning they will be cheaper than the average vehicle to insure.
These rates are based on the average cost of cover for cars in the insurance groups shown, for drivers of different ages with a Newcastle (NE1) postcode, which our research suggests represents an average for insurance rates in the UK. Updated: June 2024 (source: Confused).
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There are a number of other factors that affect the cost of your car insurance premium, one of the biggest being your location.
To show the power of the postcode, here are some average quotes for a 30-year-old living in three different locations. The quotes are for a Mitsubishi FTO GT Line 1.5 BlueHDi 130 S&S 5d.
Expensive: £1,499 (London SE1)
Average: £701 (Newcastle NE1)
Cheap: £721 (Galashiels TD1)
These rates are based on the average cost of cover for cars in the locations shown. Our research suggests SE1 is one of the most expensive locations, NE1 represents an average cost location and TD1 represents one of the cheapest locations. Updated: June 2024 (source: Confused).
Which factors affect my Mitsubishi FTO insurance rate?
Along with insurance group, there are various other factors that impact your insurance premium costs:
Engine type and capacity. In general, the larger the engine, the more you’ll pay for your car insurance. However, as Mitsubishi FTO models carry the same engine, there’s no point of comparison with this vehicle.
Driver location. Insurers use your home address to determine the level of risk that your car may be stolen or involved in an accident, and this affects the cost of insurance. For example, a 30-year-old in central London may pay £1,499 for insurance for a Mitsubishi FTO FTO 2.0 V6 GPX 197bhp 2d Auto, while the same 30-year-old in Newcastle may only pay £701. So, in this example, the Londoner will pay £156 more per year to insure this car.
Driver age. The youngest drivers will pay the most for car insurance because they are the most likely to make a claim. As an example, the average 20-year-old driver in London may pay £5,429 for the Mitsubishi FTO FTO 2.0 V6 GPX 197bhp 2d, while the average 40-year-old Londoner will only pay £1,126. So, the younger driver will pay £805 per year more than the older driver in this scenario.
Other factors that influence the cost of your insurance include:
Car insurance can be pricey, but there is no reason to let it break the bank. There are plenty of things you can do to lower your premium. Here are some ideas to lower the cost of your premium.
Limit your annual mileage (where possible). If you can occasionally travel by foot or public transport, rather than using your car, it can help to save on your premium.
Pay annually rather than monthly. Some insurers charge interest when you pay monthly for your car insurance. You can avoid these extra bills by paying annually.
Install extra safety precautions. If you add extra safety measures to your vehicles and make your car safer, many insurers are happy to lower your premium when you do so.
Shop around for the best deal every year. Don’t blindly settle for the renewal price offered to you. There will nearly always be cheaper options from competitors out there. Use price comparison websites to find the best deal each year.
Frequently asked questions
The UK standard car tax rate sits at £150 per year. However, you might pay more or less depending on your car’s emissions.
You can buy a Mitsubishi FTO at dealerships, using online sellers or from a current owner.
The vehicle has an engine size of 2 litres.
You can compare the costs of Mitsubishi FTO car insurance using any price comparison website.
Mitsubishi FTO models can be found in insurance group 20, meaning they will be cheaper to insure than the average vehicle.
*Based on data provided by Consumer Intelligence Ltd, www.consumerintelligence.com (July ’24). 51% of car insurance customers could save £523.17
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Connor is a senior associate publisher at Finder, specialising in insurance and investing. He's been sourcing and analysing data in both subjects for around 4 years, supporting Finder's publishing team. Connor holds a BSc in Accounting and Finance from the University of Sussex and when he's not at work, you can find him at his local gym keeping fit. See full bio
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