Want lower insurance coverage rates for your Ford Shelby GT500? Do you think you bought an expensive insurance coverage policy? It’s quite common and there are a lot of people just like you who feel imprisoned by their insurance coverage policy.
You have so many insurance companies to choose from, and even though it’s nice to have a choice, so many choices can make it hard to compare rates and find the lowest cost insurance coverage.
Finding cheaper auto insurance coverage is not that difficult. In a nutshell, every driver who shops for auto insurance should be able to save money. Nevertheless, vehicle owners do need to understand how companies price insurance differently and take advantage of how the system works.
All the larger car insurance companies such as Progressive, Allstate and GEICO make it easy to get insurance quotes directly from their websites. Comparing rates online is very simple as you just type in into the form. When complete, their quoting system obtains your credit score and driving record and generates pricing information based on these factors. Being able to quote online makes comparing rates easy, but having to visit several different sites and enter the same data into a form is a waste of time. But it is imperative to do this in order to get the lowest price.
The better way to compare rates
A quicker way to lower your rates is to use a quote form to get prices from multiple companies. The form is fast, eliminates form submissions, and makes online shopping much more efficient. Immediately after submitting the form, it is quoted and you are able to buy any one of the quotes that you receive.
If a lower price is quoted, you can click and sign and buy the policy. It just takes a couple of minutes and can result in significant savings.
To quickly fill out one form to compare multiple rates now, simply click here to open in new window and enter your information. If you have your current policy handy, we recommend you input the insurance coverages exactly as they are listed on your policy. This guarantees you are getting rate quotes for exact coverage.
Some insurers don’t always list all available discounts very clearly, so the following is a list of some of the more common in addition to some of the lesser obvious savings tricks you should be using when you buy insurance online. If they aren’t giving you every credit you deserve, you could be saving more on your insurance.
Discounts reduce rates, but you should keep in mind that most credits do not apply to your bottom line cost. Some only apply to the price of certain insurance coverages like physical damage coverage or medical payments. So even though you would think all the discounts add up to a free policy, it just doesn’t work that way. But any discount will lower your policy premiums.
If you would like to choose from a list of insurance companies who offer online insurance quotes, click this link.
One of the most helpful ways to save on insurance coverage is to to have a grasp of some of the things that play a part in calculating the rates you pay for insurance coverage. If you have some idea of what determines base rates, this enables you to make decisions that can earn you lower rates. Many factors are considered when you get a price on insurance. A few of the factors are predictable like an MVR report, but some are more transparent like your continuous coverage or your financial responsibility.
The list below includes a few of the “ingredients” used by your company to calculate your rates.
When choosing coverage, there really is not a “best” method to buy coverage. Each situation is unique and a cookie cutter policy won’t apply. For instance, these questions may help highlight if your situation would benefit from professional advice.
If it’s difficult to answer those questions but you think they might apply to your situation, then you may want to think about talking to a licensed insurance agent. If you don’t have a local agent, complete this form or you can go here for a list of companies in your area.
Companies like Progressive, Allstate and GEICO constantly bombard you with television and radio advertisements. They all seem to tend to make the same promise about saving some big amount if you change your insurance policy to them. Is it even possible that every company can charge you a lower premium? It’s all in the numbers.
Different companies offer their best rates for the type of driver that earns them the most money. An example of a profitable insured might be a married male, has had continuous coverage, and drives less than 10,000 miles a year. A customer that hits that “sweet spot” may get the lowest car insurance rates and therefore will save money with a new company.
Insureds who fall outside the requirements will see higher premium rates and ends up with business not being written. If you pay attention, the ads say “drivers who switch” not “all people who quote” save that kind of money. That’s the way insurance companies can confidently make the claims of big savings.
Because each company has a different risk profile, drivers must get insurance quotes from several different companies. It is just not possible to predict which company will have the best premium rates at this point in time.
Learning about specific coverages of a insurance policy can help you determine appropriate coverage and the correct deductibles and limits. The coverage terms in a policy can be confusing and nobody wants to actually read their policy. Listed below are typical coverage types found on the average insurance policy.
Uninsured/Underinsured Motorist coverage – Uninsured or Underinsured Motorist coverage gives you protection when the “other guys” either are underinsured or have no liability coverage at all. Covered losses include injuries sustained by your vehicle’s occupants as well as your vehicle’s damage.
Since a lot of drivers only purchase the least amount of liability that is required, their liability coverage can quickly be exhausted. For this reason, having high UM/UIM coverages should not be overlooked. Most of the time these limits are set the same as your liablity limits.
Collision coverages – Collision insurance pays for damage to your Shelby GT500 resulting from a collision with a stationary object or other vehicle. You have to pay a deductible then the remaining damage will be paid by your insurance company.
Collision insurance covers claims like sideswiping another vehicle, scraping a guard rail and backing into a parked car. Collision coverage makes up a good portion of your premium, so consider dropping it from vehicles that are older. It’s also possible to bump up the deductible to bring the cost down.
Liability – Liability insurance provides protection from injuries or damage you cause to other people or property in an accident. It protects YOU against other people’s claims. Liability doesn’t cover damage sustained by your vehicle in an accident.
Liability coverage has three limits: per person bodily injury, per accident bodily injury, and a property damage limit. You might see policy limits of 25/50/25 that translate to a $25,000 limit per person for injuries, a limit of $50,000 in injury protection per accident, and a total limit of $25,000 for damage to vehicles and property. Alternatively, you may have one number which is a combined single limit which provides one coverage limit rather than limiting it on a per person basis.
Liability coverage protects against things such as medical expenses, pain and suffering, emergency aid and structural damage. How much liability should you purchase? That is up to you, but it’s cheap coverage so purchase higher limits if possible.
Comprehensive coverage – This will pay to fix damage OTHER than collision with another vehicle or object. You need to pay your deductible first and then insurance will cover the rest of the damage.
Comprehensive coverage pays for things like vandalism, hitting a bird, fire damage and rock chips in glass. The maximum payout a insurance company will pay at claim time is the market value of your vehicle, so if the vehicle’s value is low it’s probably time to drop comprehensive insurance.
Medical payments coverage and PIP – Personal Injury Protection (PIP) and medical payments coverage kick in for immediate expenses such as dental work, ambulance fees and X-ray expenses. They are often utilized in addition to your health insurance program or if you are not covered by health insurance. They cover not only the driver but also the vehicle occupants in addition to if you are hit as a while walking down the street. PIP is not available in all states but can be used in place of medical payments coverage
When trying to cut insurance costs, it’s very important that you do not reduce coverage to reduce premium. Too many times, an insured dropped uninsured motorist or liability limits only to find out that their decision to reduce coverage ended up costing them more. The goal is to find the BEST coverage at a price you can afford, but don’t skip important coverages to save money.
Low-cost 2007 Ford Shelby GT500 insurance can be sourced online in addition to many insurance agents, so you should compare both so you have a total pricing picture. A few companies do not provide price quotes online and many times these small insurance companies sell through independent agencies.