Save on 2007 Ford Shelby GT500 Car Insurance Rates

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.

Cheapest car insurance rate quotes

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.

Are you qualifying for every discount?

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.

  • Lower Rates for Military – Having a family member in the military may qualify for rate reductions.
  • Good Student – Maintaining excellent grades may save as much as 25% on a insurance quote. The good student discount can last up until you turn 25.
  • Paper-free Discount – A handful of larger companies will give you a small discount for signing up on your computer.
  • Federal Government Employee – Being employed by or retired from a federal job can earn a discount up to 10% on Shelby GT500 coverage depending on your insurance provider.
  • Drivers Ed for Students – It’s a good idea to have your young drivers enroll and complete driver’s education if it’s offered in school.
  • Accident Waiver – This isn’t a discount exactly, but companies like Progressive, Allstate, and Liberty Mutual will forgive one accident without raising rates with the catch being you have to be claim-free for a specific time period.

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.

Smart choices result in lower insurance premiums

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.

  • Your age impacts your rates – Young drivers are statistically proven to be easily distracted behind the wheel so they pay higher insurance coverage rates. Parents adding a young driver to your policy will cause a huge premium hike. More experienced drivers have been proven to be more responsible, tend to file fewer claims and are safer drivers.
  • Your liability insurance limits – Your insurance coverage policy’s liability coverage will protect you if ever a jury decides you are liable for damages from an accident. Your liability coverage provides you with a defense in court up to the limits shown on your policy. Liability insurance is quite affordable as compared to coverage for physical damage, so drivers should make sure they buy enough to cover all assets.
  • Put fewer miles on your vehicle – The higher the miles on your Ford in a year’s time the more you’ll pay to insure your vehicle. Most insurance companies price each vehicle’s coverage based on their usage. Autos that do not get driven very much receive better premium rates than vehicles that have high annual mileage. A policy that improperly rates your Shelby GT500 can cost quite a bit. It’s always a good idea to double check that your declarations sheet is showing the correct usage for each vehicle, because it can save money.
  • Save money with GPS tracking and theft deterrents – Owning a car with a theft deterrent system can save you a little every year. Systems that thwart theives like vehicle immobilizer systems, OnStar, and tracking devices like LoJack all aid in stopping car theft and help bring rates down.
  • Obey driving laws and save – Being a careful driver has a lot to do with how much you pay for insurance. Even one citation can increase rates twenty percent or more. Drivers with clean records get better rates than their less careful counterparts. Drivers unfortunate enough to have careless tickets such as DUI or willful reckless driving may find they need to submit a SR-22 or proof of financial responsibility with the DMV in their state in order to drive a vehicle legally.
  • Insurance rates in urban areas – Choosing to live in areas with lower population is a good thing when buying insurance coverage. Drivers in populated areas have more aggressive driving styles and longer commutes to work. Fewer drivers translates into fewer accident claims and a lower car theft rate.
  • Your spouse saves you money – Getting married actually saves money on your insurance coverage bill. Having a significant other demonstrates that you tend to be less irresponsible and it’s statistically proven that being married results in fewer claims.
  • Bump up comp and collision deductibles to lower rates – Coverage for physical damage, commonly called comprehensive (or other-than-collision) and collision coverage, insures against damage to your Ford. Some examples of covered claims would be running into the backend of another car, damage caused by hail, and damage from a fallen tree branch. Physical damage deductibles are how much you are required to spend out-of-pocket if the claim is covered. The more expense you are required to pay out-of-pocket, the less your insurance coverage will be on Shelby GT500 coverage.

When in doubt talk to an agent

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.

  • Exactly who is provided coverage by my policy?
  • Does coverage extend to a rental car in a foreign country?
  • Can my teen drive my company car?
  • What can I do if my company denied a claim?
  • Am I getting all the discounts available?
  • Do I have coverage for damage caused while driving under the influence?
  • How can I get my company to pay me more for my totalled car?
  • Do I get a pro-rated refund if I cancel my policy early?
  • When should I not file a claim?
  • Can I still get insurance after a DUI?

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.

Save $453 a year! What?

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.

Insurance coverage basics

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

Power to the consumer

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.

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Comments About 2007 Ford Shelby GT500 Insurance

  1. Blair Bernard

    Quoted with AIG Insurance for my 2007 Ford Shelby GT500 and am saving around $170 a year. Teenage drivers are expensive!

  2. Connie Hughes

    I’m in Cranston, Rhode Island. Received rates from Allstate, Amica, and Farmers for my Ford and saved about $290 a year. Good savings if you bundle.

  3. Lisandra Durham

    Is GEICO or Allstate cheaper in Charlotte, North Carolina?

  4. Ronald Sweeney

    I found pretty cheap rate quotes for a 2007 Ford Shelby GT500 in Columbus, Georgia. Ended up at darn near $400 every six months with AIG Insurance. It’s still not cheap enough.

  5. Suzy Johnston

    I’m in the east part of Cleveland, Ohio. Got free quotes online for a 2007 Ford Shelby GT500. Ended up at about $390 savings annually. Went with Allstate. Was with GMAC. My new agent seems to be really good. They have free quotes online.

  6. Carlos Cantu

    I got quite a few price quotes for a 2007 Ford Shelby GT500 in Missoula, MT. Ended up at right around $540 every six months with AAA. It was easy to get rates.

  7. Loida Gillespie

    Just my two cents. Went with Farmers for my Ford and saved around $320 a year.

  8. Marc Booth

    Where can I find cheaper car insurance in Columbus, Georgia?

  9. Jed Chapman

    Got pretty cheap 2007 Ford Shelby GT500 insurance from Allstate in West Valley City, UT.

  10. Robby Richardson

    Lifelong resident of Rockford, IL. Got quotes with GMAC, Amica, MetLife, and a couple others for my 2007 Ford Shelby GT500 and I’m now saving $49 a month. It was easy to get rates.

  11. Odilia Kim

    Does State Farm prorate premiums at cancellation?