2014 Ford Shelby GT500 Insurance Cost

Looking for better auto insurance rates for your Ford Shelby GT500? Purchasing the lowest cost auto insurance can seem to be problematic for drivers that are relatively new to comparing rates and buying auto insurance on the internet. With such a large number of companies, how can drivers be able to compare every possible option in order to find the best price?

It’s smart to check auto insurance prices occasionally because prices trend upward over time. Even if you think you had the lowest price on Shelby GT500 insurance at your last renewal there may be better deals available now. Forget all the misinformation about auto insurance because you’re going to get a crash course in the proper way to find lower rates on auto insurance.

If you currently have a car insurance policy, you should be able to reduce your rates substantially using this strategy. The purpose of this article is to let you in on the best way to quote coverages. Nevertheless, car owners must understand how big insurance companies sell insurance online.

More affordable rates with discounts

Companies offering auto insurance do not list all available discounts very well, so we break down a few of the more well known and also the more inconspicuous insurance savings. If you are not receiving all the discounts possible, you’re just leaving money on the table.

  • College Student – Kids who are attending college and won’t have access to an insured vehicle may qualify for this discount.
  • Club Memberships – Joining qualifying clubs or civic groups is a simple method to lower premiums on your next renewal.
  • Own a Home and Save – Just owning your own home may earn you a small savings because it demonstrates responsibility.
  • Smart Student Discounts – This discount may save as much as 25% on a auto insurance quote. You can use this discount normally up to age 25.
  • Pay Now and Pay Less – If you pay your entire premium ahead of time instead of making monthly payments you can avoid the installment charge.

Keep in mind that many deductions do not apply to the overall cost of the policy. Most only apply to specific coverage prices like collision or personal injury protection. So even though you would think you can get free auto insurance, companies don’t profit that way.

To locate insurance companies that have a full spectrum of discounts, click here to view.

How to get free insurance coverage quotes online

To find the best insurance coverage rates, there are several ways to compare rate quotes from many available insurance coverage companies in your state. The best method to do a complete rate comparison is to perform an online rate comparison. This can be done in just a few minutes using one of these methods.

The most recommended method to compare a lot of rates at once would be an industry-wide quote request form like this one (opens in new window). This style of form saves time by eliminating separate quote forms for each company. Completing one form gets you price quotes direct from many companies. Just one form and you’re done.

A slightly less efficient method to find better pricing consists of going to the website of each company and complete a new quote form. For sake of this example, we’ll assume you want to compare prices for Liberty Mutual, Esurance and American Family. You would have to go to each individual site and repeatedly enter your information, which is why most consumers use the first method. For a list of companies in your area, click here.

Even if you have time, the least recommended method to find and compare rates is driving to and from local insurance agencies. The ability to get quotes online has made agencies unnecessary unless you have a complicated situation and need the trained guidance of a local agency. Although you can price shop online but have your policy serviced through an agent.

Which method you use is up to you, but make sure you use equivalent quote data on every quote. If you have higher or lower deductibles it will be nearly impossible to truly determine the lowest rate. Having just a slight variation in insurance coverages can mean a large discrepancy in price. Just keep in mind that more quotes gives you a better chance of getting a better price.

Get lower-cost insurance prices by understanding these factors

One of the most helpful ways to save on car insurance is to to have a grasp of the rating factors that play a part in calculating your car insurance rates. When you understand what determines base rates, this helps enable you to make changes that could help you find big savings. Lots of factors are taken into consideration when pricing auto insurance. Some of the criteria are obvious such as your driving record, but some are not quite as obvious such as whether you are married or how safe your car is.

Listed below are a few of the “ingredients” companies use to determine premiums.

  • Better prices with anti-theft devices – Choosing a vehicle with an alarm system can help lower your rates. Advanced theft deterrents such as OnStar found on GM vehicles, advanced tracking like LoJack, and vehicle immobilization systems can thwart your car from being stolen.
  • Annual mileage impacts costs – The higher the miles on your Ford each year the higher the price you pay to insure it. The majority of insurers charge to insure your cars based on their usage. Autos left parked in the garage receive lower rates compared to those used for work or business. It’s a smart idea to ensure your car insurance policy is rated on the correct usage, because it can save money. Having an incorrect usage rating on your Shelby GT500 can result in significantly higher rates.
  • What are your physical damage deductibles? – Physical damage insurance, also called ‘full coverage’, helps pay for damage to your vehicle. A few examples of covered claims could be collision with another vehicle, hitting a deer, and windstorm damage. Comprehensive and collision coverage deductibles represent how much money the insured will be required to pay before your car insurance pays a claim. The more damage repair cost you are required to pay out-of-pocket, the better rate you will receive on Shelby GT500 insurance.
  • Use one insurance company and save – Lots of car insurance companies will award lower prices to clients who buy several policies from them. It’s known as a multi-policy discount. Even with this discount applied, it’s still a good idea to comparison shop to guarantee you are still saving the most. Consumers may save even more than the discount by insuring with multiple companies.
  • Liability claims can be big – The liability coverage on your policy is the coverage that protects you when you are found liable for an accident. Liability provides you with a defense in court to defend your case. This coverage is relatively inexpensive compared to comp and collision, so do not skimp.
  • When should you file a car insurance claims? – Companies provide better rates to insureds who only file infrequent claims. If you are a frequent claim filer, you can look forward to either higher rates or even cancellation. Auto insurance is designed for larger claims.
  • Safety ratings are a factor – Vehicles with high crash test scores tend to have better insurance rates. Vehicles built for safety reduce the chance of injuries and fewer serious injuries means less claims paid and cheaper rates on your policy. If your Ford has ratings of a minimum an “acceptable” rating on the Insurance Institute for Highway Safety website you may be receiving a better rate.

What is the best auto insurance coverage?

When buying adequate coverage, there really is no “best” method to buy coverage. Everyone’s situation is a little different.

Here are some questions about coverages that can help discover whether or not you would benefit from professional advice.

  • Do I pay less for low miles?
  • Is rental equipment covered for theft or damage?
  • Are there companies who specialize in insuring high-risk drivers?
  • Does car insurance cover theft of personal property?
  • How do I file an SR-22 for a DUI in my state?
  • Should I get collision insurance on every vehicle?
  • Is motorclub coverage worth it?

If it’s difficult to answer those questions but one or more may apply to you, you might consider talking to a licensed insurance agent. To find lower rates from a local agent, complete this form.

Well known brands might not be cheapest

Allstate, GEICO and Progressive continually stream ads on TV and radio. They all seem to make an identical promise about saving some big amount if you switch your policy. Is it even possible that every company can make almost identical claims? Just pay attention to how they say it.

Many companies quote the lowest rates for the type of driver that makes them money. A good example of this type of driver should be over the age of 50, owns their home, and drives a lower-performance vehicle. A customer who matches that profile will get the preferred rates and have a good chance to cut their rates substantially.

People who are not a match for these stringent criteria may receive higher premium rates which results in the prospect going elsewhere. The ads say “customers that switch” not “all people who quote” will save that much if they switch. That’s why companies can make it sound like they have such great prices.

Because of these techniques, you really should do a rate comparison at every renewal. It is impossible to guess the company that will have the best premium rates at this point in time.

Detailed coverages of your insurance policy

Having a good grasp of a insurance policy helps when choosing the best coverages at the best deductibles and correct limits. Policy terminology can be ambiguous and coverage can change by endorsement.

Uninsured/Underinsured Motorist (UM/UIM)

This provides protection when the “other guys” either have no liability insurance or not enough. It can pay for injuries sustained by your vehicle’s occupants and also any damage incurred to your Ford Shelby GT500.

Due to the fact that many drivers carry very low liability coverage limits, their limits can quickly be used up. That’s why carrying high Uninsured/Underinsured Motorist coverage should not be overlooked. Usually the UM/UIM limits do not exceed the liability coverage limits.

Collision protection

Collision coverage covers damage to your Shelby GT500 caused by collision with an object or car. You first must pay a deductible then your collision coverage will kick in.

Collision coverage protects against things like hitting a mailbox, driving through your garage door, crashing into a building and rolling your car. Collision is rather expensive coverage, so you might think about dropping it from older vehicles. Drivers also have the option to bump up the deductible in order to get cheaper collision rates.

Med pay and Personal Injury Protection (PIP)

Medical payments and Personal Injury Protection insurance pay for immediate expenses for EMT expenses, doctor visits and funeral costs. The coverages can be utilized in addition to your health insurance plan or if you are not covered by health insurance. They cover not only the driver but also the vehicle occupants and will also cover any family member struck as a pedestrian. PIP coverage is not available in all states and gives slightly broader coverage than med pay

Liability insurance

This coverage provides protection from injuries or damage you cause to a person or their property. This insurance protects YOU against other people’s claims, and doesn’t cover damage sustained by your vehicle in an accident.

Coverage consists of three different limits, bodily injury per person, bodily injury per accident and property damage. Your policy might show limits of 25/50/25 which stand for a limit of $25,000 per injured person, a per accident bodily injury limit of $50,000, and property damage coverage for $25,000. Occasionally you may see one limit called combined single limit (CSL) which combines the three limits into one amount without having the split limit caps.

Liability insurance covers claims such as attorney fees, repair costs for stationary objects, bail bonds and structural damage. How much liability coverage do you need? That is up to you, but you should buy higher limits if possible.

Comprehensive insurance

This coverage pays for damage that is not covered by collision coverage. You first must pay your deductible then your comprehensive coverage will pay.

Comprehensive coverage pays for things like damage from getting keyed, hail damage and theft. The maximum payout a insurance company will pay at claim time is the actual cash value, so if your deductible is as high as the vehicle’s value it’s not worth carrying full coverage.

Never pay more for less

Throughout this article, we presented a lot of techniques to get a better price on 2014 Ford Shelby GT500 insurance. The most important thing to understand is the more rate quotes you have, the more likely it is that you will get a better rate. You may even discover the best price on insurance coverage is with an unexpected company.

Lower-priced insurance coverage is possible both online and also from your neighborhood agents, and you should compare rates from both so you have a total pricing picture. A few companies may not have the ability to get quotes online and usually these regional insurance providers work with independent insurance agents.

When trying to cut insurance costs, you should never skimp on coverage in order to save money. There are many occasions where drivers have reduced liability coverage limits only to regret that the few dollars in savings costed them thousands. The proper strategy is to get the best coverage possible at the best price.

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Comments About 2014 Ford Shelby GT500 Insurance

  1. Trinidad Le

    Checking in from San Antonio, TX. I got free prices from GEICO, Amica, and Encompass for my Ford and saved about $360 a year. Insured with Esurance before.

  2. Oswaldo Schmidt

    Anyone buy from Amica? I’m in Grand Forks, North Dakota.

  3. Georgeanna Mason

    I switched to Allstate. Quoted good rates in Des Moines, Iowa. Get lots of quotes to find the best rate.

  4. Frederick Boyle

    I’m in the east part of Lexington, KY. Got free quotes online for a 2014 Ford Shelby GT500. Ended up at about $390 savings annually. Went with Allstate.

  5. Wendy Hogan

    Not sure what I should be paying. Checking in from Salem, Oregon. I got free quotes from AAA, Nationwide, and USAA for my 2014 Ford Shelby GT500 and I think I saved about $50 each month. Even increased my liability limits.

  6. Felix Collins

    For me, Progressive was by far the cheapest in Allentown, Pennsylvania.