Lower Your 2012 Ford Shelby GT500 Car Insurance Cost

Looking for better auto insurance rates for your Ford Shelby GT500? Having to pay for overpriced Ford Shelby GT500 insurance can stress out your savings and force you to make sacrifices. Performing a rate comparison is free, only takes a few minutes, and is a good way to lower your monthly bill.

Lots of car insurance companies contend for your hard-earned dollar, and it can be difficult to compare rates and uncover the absolute lowest rate

If you are insured now or are looking for a new policy, you can learn to get lower rates while maximizing coverage. Choosing the best insurance company for you is easy if you know what you’re doing. Drivers just need to understand the proper methods to buy auto insurance online.

The easiest way to compare insurance rates from multiple companies takes advantage of the fact most of the bigger providers will pay a fee to compare their rates. The only thing you need to do is give the companies some data including daily mileage, whether the vehicles are used for commuting, if a SR-22 is required, and any included safety features. Your insurance information gets sent immediately to many highly-rated insurers and they respond with quotes instantly.

Lower-cost car insurance rates with discounts

Car insurance companies don’t list every policy discount very well, so the list below details a few of the more well known and the more hidden discounts that you may qualify for. If you check and find you aren’t receiving every discount you deserve, you are throwing money away.

  • Own a Home and Save – Owning a home can help you save on car insurance due to the fact that maintaining a home is proof of financial responsibility.
  • College Student Discount – Youth drivers who live away from home to go to college and do not have access to a covered vehicle can receive lower rates.
  • Fewer Miles Equal More Savings – Fewer annual miles on your Ford may enable drivers to earn substantially lower premium rates.
  • More Vehicles More Savings – Drivers who insure primary and secondary vehicles with the same car insurance company may reduce the rate for each vehicle.
  • Air Bag Discount – Factory air bags may earn rate discounts of 20% or more.

Drivers should understand that most credits do not apply to the overall cost of the policy. A few only apply to individual premiums such as liability, collision or medical payments. Even though the math looks like you can get free auto insurance, companies don’t profit that way. Any qualifying discounts will reduce your car insurance premiums.

A list of car insurance companies and the discounts they provide are outlined below.

  • American Family may have discounts that include early bird, Steer into Savings, good driver, bundled insurance, accident-free, TimeAway discount, and air bags.
  • Farm Bureau may offer discounts for 55 and retired, safe driver, multi-policy, driver training, multi-vehicle, and youthful driver.
  • State Farm may include discounts for multiple policy, Drive Safe & Save, driver’s education, anti-theft, and accident-free.
  • Travelers policyholders can earn discounts including home ownership, payment discounts, driver training, good student, and student away at school.
  • The Hartford has savings for defensive driver, anti-theft, good student, vehicle fuel type, bundle, and driver training.
  • GEICO offers premium reductions for multi-vehicle, air bags, anti-theft, defensive driver, good student, seat belt use, and anti-lock brakes.
  • Progressive offers discounts for continuous coverage, homeowner, good student, online signing, and multi-vehicle.

Before you buy a policy, ask every prospective company what discounts are available to you. Depending on the company, some discounts may not apply to policies everywhere.

Tailor your auto insurance coverage to you

When choosing the best auto insurance coverage, there really is no one size fits all plan. Everyone’s needs are different so this has to be addressed. For instance, these questions can help discover if your insurance needs would benefit from an agent’s advice.

  • Can I rent a car in Mexico?
  • Is my ex-spouse still covered by my policy?
  • Are there companies who specialize in insuring high-risk drivers?
  • Does insurance cover tools stolen from my truck?
  • Why am I required to get a high-risk car insurance policy?
  • Do I need an umbrella policy?
  • Am I getting all the discounts available?

If you can’t answer these questions but one or more may apply to you, you might consider talking to a licensed insurance agent. To find an agent in your area, take a second and complete this form or you can go here for a list of companies in your area. It only takes a few minutes and may give you better protection.

Four factors that affect insurance rates

Part of the insurance buying process is learning the factors that come into play when calculating insurance rates. If you have some idea of what controls the rates you pay, this empowers consumers to make smart changes that will entitle you to big savings.

Shown below are some of the items insurance companies consider when setting rates.

  • Small coverages can add up – There are a lot of add-on coverages that you can get tricked into buying if you don’t pay attention. Insurance for coverage for rental cars, death and dismemberment, and term life insurance are probably not needed. These coverages may sound good at first, but your needs may have changed so remove them and pocket the money.
  • Be proud to be claim-free – If you’re an insured who likes to file claims you can look forward to either policy cancellation or increased premiums. Companies provide discounts to people who file claims infrequently. Auto insurance is designed for claims that pose a financial burden.
  • Low mileage costs less – The more you drive in a year the more you will pay for insurance. Many insurance companies charge to insure your cars based upon how much you drive. Autos not used for work or commuting cost less to insure than those that get driven frequently. Having the wrong rating on your Shelby GT500 can cost quite a bit. Double check that your insurance coverage is showing the correct driver usage.
  • Teenagers vs. mature drivers – More experienced drivers are shown to be more cautious, tend to cause fewer accidents .Youthful drivers are known to be more careless with other occupants in the car and because of this, their insurance rates are much higher.

Can you really save if you switch?

Consumers can’t avoid all the ads for the lowest price auto insurance from the likes of Progressive, Allstate and GEICO. All the ads make the point that people will save if you move to their company.

How do they all say the same thing? This is the way they can do it.

Most companies require specific criteria for the right customer that will most likely be profitable. A good example of a driver they prefer may be over the age of 40, owns their home, and drives less than 5,000 miles a year. Any person who fits those characteristics receive the lowest rate quotes and have a good chance to save if they switch.

Insureds who are not a match for these standards will get a more expensive rate and this results in the customer not purchasing. The trick is to say “people that switch” not “everyone who quotes” can save as much as they claim. That’s why insurance companies can confidently make those claims. Because of the profiling, you need to get as many free insurance quotes as possible. You cannot predict the company that will give you lower rates than your current company.

Insurance coverages and their meanings

Having a good grasp of insurance can help you determine the best coverages at the best deductibles and correct limits. Insurance terms can be confusing and even agents have difficulty translating policy wording. Listed below are the normal coverages found on most insurance policies.

Comprehensive protection

This covers damage caused by mother nature, theft, vandalism and other events. You first must pay your deductible and then insurance will cover the rest of the damage.

Comprehensive can pay for things such as hail damage, falling objects, damage from getting keyed and hitting a deer. The maximum amount a insurance company will pay at claim time is the cash value of the vehicle, so if your deductible is as high as the vehicle’s value it’s probably time to drop comprehensive insurance.

Liability

This provides protection from injuries or damage you cause to other people or property in an accident. It protects you from claims by other people, and does not provide coverage for your own vehicle damage or injuries.

Split limit liability has three limits of coverage: bodily injury for each person injured, bodily injury for the entire accident and a property damage limit. As an example, you may have values of 25/50/25 which means a limit of $25,000 per injured person, a limit of $50,000 in injury protection per accident, and $25,000 of coverage for damaged propery.

Liability coverage protects against claims such as attorney fees, loss of income, medical services and legal defense fees. How much liability should you purchase? That is up to you, but consider buying as high a limit as you can afford.

Collision coverage

This coverage covers damage to your Shelby GT500 resulting from a collision with another car or object. You first must pay a deductible then the remaining damage will be paid by your insurance company.

Collision insurance covers claims such as sideswiping another vehicle, colliding with another moving vehicle and crashing into a ditch. Collision is rather expensive coverage, so you might think about dropping it from vehicles that are older. Drivers also have the option to raise the deductible to save money on collision insurance.

Medical expense coverage

Med pay and PIP coverage pay for expenses for things like dental work, rehabilitation expenses, hospital visits, X-ray expenses and ambulance fees. They can be used to fill the gap from your health insurance plan or if you do not have health coverage. Medical payments and PIP cover you and your occupants and also covers if you are hit as a while walking down the street. Personal injury protection coverage is not universally available and may carry a deductible

Uninsured or underinsured coverage

Your UM/UIM coverage provides protection when other motorists either have no liability insurance or not enough. This coverage pays for injuries sustained by your vehicle’s occupants as well as damage to your 2012 Ford Shelby GT500.

Since many drivers only purchase the least amount of liability that is required, it doesn’t take a major accident to exceed their coverage limits. This is the reason having UM/UIM coverage is important protection for you and your family.

And the best car insurance company is…

While you’re price shopping online, don’t be tempted to buy lower coverage limits just to save a few bucks. In many cases, someone dropped liability limits or collision coverage only to find out that the few dollars in savings costed them thousands. Your strategy should be to buy the best coverage you can find for the lowest price, not the least amount of coverage.

Cheaper 2012 Ford Shelby GT500 insurance can be found both online and with local insurance agents, so you should be comparing quotes from both to have the best selection. Some auto insurance companies don’t offer the ability to get quotes online and usually these smaller providers only sell coverage through independent insurance agencies.

Throughout this article, we presented a lot of information how to get a better price on 2012 Ford Shelby GT500 insurance. It’s most important to understand that the more providers you compare, the more likely it is that you will get a better rate. Drivers may discover the lowest prices come from a small local company. They often have lower rates on specific markets compared to the large companies like Progressive or GEICO.

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Comments About 2012 Ford Shelby GT500 Insurance

  1. Christie Francis

    I went with Progressive at renewal. Best rates in West Valley City, UT. Still almost need a second mortgage.

  2. Jere Dillon

    Progressive was cheapest for my 2012 Ford Shelby GT500 in Reno, NV.

  3. Cassaundra Robles

    Will Progressive give a discount for driver training?

  4. Katia Lindsey

    I’m in the east part of Des Moines, Iowa. Compared rates from a lot of places. Saved right around $40 a month. State Farm was the cheapest option for me. I have a couple other vehicles on the policy. They offer free online rate quotes.

  5. Clyde Humphrey

    I got a good deal I think. I’m just west of Eugene, OR. Quoted a bunch of companies. Saved darn near $50 a month. 21st Century was the most affordable for me. Still almost need a second mortgage.

  6. Caryn Guerra

    Lots of useful info here. From West Valley City, UT. I got free prices from American Family, Sentry, and some smaller one I can’t remember the name of for my Shelby GT500 and I’m now saving $64 a month. Still almost need a second mortgage.

  7. Neida Cochran

    I got decent rates for a 2012 Ford Shelby GT500 in Cedar Rapids, IA. Ended up at darn near $100 every six months with Auto-Owners.

  8. Gerry Maldonado

    Affordable car insurance is a myth. I’m in the south part of Knoxville, TN. Quoted rates from State Farm, American Family, and Encompass for my Ford and saved $112 a year. I have a couple other vehicles on the policy. Bought it from an online quote.

  9. Kaye Willis

    I live on the north side of Baltimore, MD. I compared lots of rates. Saved about $30 a month. GEICO was the cheapest option for me.

  10. Ligia Rush

    Proud to be from Rockford, Illinois. Went online for free insurance quotes for a 2012 Ford Shelby GT500. Ended up at about $200 savings annually. Went with 21st Century. They were helpful in switching over.