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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.
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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.
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.
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