Muscle Cars May Make You the Envy of Everyone Around…But How Much Will It Cost You in Insurance?

by Lauren Boisvert

Muscle cars are cool. End of story, they’re just cool. They’ve always been cool, and they probably always will be, even with the shift to electric most companies are making now. But, if you want to get a muscle car, it’s going to cost a pretty penny. Not just the initial cost, though that’s almost enough to outweigh the cool-factor. We’re talking about strictly insurance, here. How much would it really cost to insure your muscle car?

Motor Trend and Insure worked together to test the insurance costs of four versions of the same three cars: the Chevy Camaro, Dodge Challenger, and the Ford Mustang. They based their calculations on the national averages for a “40-year-old male who’s single, has a clean driving record, good credit, and a 12-mile daily commute.”

And the Winners Are:

Let’s first look specifically at one of the comparisons Motor Trend and Insure made: the Mustang GT500 vs. the Camaro ZL1 vs. the Challenger Hellcat Redeye. Why this one? Mostly because I enjoy the Hellcat.

First up, the Mustang GT500. 760hp, 5.2L supercharged V-8, and starting at $73,000, this baby costs $2,488 per year to insure. The Camaro ZL1 has 650hp, 6.2L supercharged V-8, and is less than the Mustang at $63,000. According to Motor Trend, it costs $2,539 per year to insure. Finally, the Challenger Hellcat Redeye has a whopping 797hp and starts at $72,295, surprisingly lower than the Mustang. This one costs the most to ensure, though, at $3,282 per year. The winner for this comparison is the Mustang GT500, at $2,488.

The other versions with the lowest annual amount were the Chevy Camaro 1LS at $1,732; the Ford Mustang GT at $1,951; and the Chevy Camaro SS at $2,016.

No matter how you slice it, these cars are going to be expensive to insure. But, it seems like the Mustang and Camaro are the least expensive out of all the options. If you must get a muscle car, those are your best choices for saving a little money.

The Cars In Question

As for the history of these cars, the Camaro first went on sale in 1966, competing with the Mustang. General manager at the time Pete Estes claimed that the name Camaro “suggests the comradeship of good friends as a personal car should be to its owner.” Chevy sold 220,906 first-generation Camaros in its debut year.

For Ford, the Mustang is “currently the longest-produced Ford car nameplate,” and its 5th best-selling nameplate. Introduced in 1964, 1 million Mustangs sold within the first two years of its launch. It was “the most successful vehicle launch since the 1927 Model A.”

The Challenger was introduced in 1969 as a competitor against the Mercury Cougar and Pontiac Firebird. It was considered “a late response” to the Mustang, and the “pony car” boom was declining when the Challenger leaped onto the scene. Production of the original Challenger stopped in 1974, with a total of 165,437 first-generation cars sold.