Cheap 2005 Ford GT Car Insurance Rates

Trying to find the cheapest insurance rates for your Ford GT? Tired of robbing Peter to pay Paul each month for car insurance? You are no different than many other drivers. Big companies like State Farm, Farmers Insurance, Geico and Allstate constantly bombard you with advertising and it is difficult to see past the corporate glitz and effectively compare rates to find the best deal.

Do you qualify for discounts?

Companies that sell car insurance don’t always advertise every discount in an easy-to-find place, so we break down both well-publicized as well as the least known discounts you could be receiving. If they aren’t giving you every credit you deserve, you’re paying more than you need to.

  • Drive Less and Save – Low mileage vehicles could be rewarded with lower rates on the low mileage vehicles.
  • Anti-lock Brakes – Vehicles with anti-lock braking systems prevent accidents and therefore earn up to a 10% discount.
  • Paperwork-free – A handful of insurance companies will give a small break for buying your policy over the internet.
  • Federal Employees – Active or retired federal employment can save as much as 8% for GT coverage with select insurance companies.
  • Anti-theft Discount – Anti-theft and alarm systems prevent vehicle theft and therefore earn up to a 10% discount.
  • Organization Discounts – Belonging to a professional or civic organization could trigger savings on your policy for GT coverage.
  • Good Student Discount – Getting good grades can save 20 to 25%. The good student discount can last well after school through age 25.
  • Early Switch Discount – Some insurance companies reward drivers for buying a policy prior to your current policy expiration. It’s a savings of about 10%.
  • Passive Restraints – Vehicles equipped with air bags or automatic seat belts can qualify for discounts of 20% or more.

As a disclaimer on discounts, most credits do not apply to all coverage premiums. Most only cut the cost of specific coverages such as liability, collision or medical payments. So when the math indicates you would end up receiving a 100% discount, companies wouldn’t make money that way.

Insurance companies that possibly offer some of the above discounts are:

Double check with each insurance company which discounts you may be entitled to. All car insurance discounts may not be available in every state.

The quickest way to compare policy rates utilizes the fact most insurance companies have advanced systems to provide you with free rate quotes. To start a quote, the only thing you need to do is provide details such as how many miles driven, if the car is leased, coverage limits, and whether you are married. That rating data is then sent to multiple companies and they return rate quotes very quickly.

Factors that can influence Ford GT insurance rates

An important part of buying insurance is that you know the factors that help determine insurance coverage rates. Knowing what influences your rates helps enable you to make changes that may reward you with much lower annual insurance costs.

  • Men pay higher rates – Statistics show women tend to be less risk to insure than men. That doesn’t necessarily mean that men are WORSE drivers than women. Men and women tend to get into accidents in similar numbers, but men cause more damage. Men also get cited for more serious violations such as DWI and reckless driving. Young males are several times more likely to be in an accident and thus pay the highest rates.
  • Never go without insurance – Allowing your coverage to lapse is a quick way to increase your insurance coverage rates. And not only will your rates increase, failure to provide proof of insurance can result in a revoked license or a big fine.
  • Add-on coverages can add up – There are a ton of additional coverages that you can buy when buying insurance coverage. Things like vanishing deductibles, towing coverage and additional equipment coverage may be wasting your money. They may seem good when talking to your agent, but now you might not need them so remove them from your policy.
  • Being married is a good thing – Getting married can actually save you money on your policy. It usually means you are more mature than a single person and it’s statistically proven that married drivers get in fewer accidents.

Don’t assume everyone needs the same coverage

When buying the best insurance coverage, there is no “best” method to buy coverage. Your needs are not the same as everyone else’s and a cookie cutter policy won’t apply. Here are some questions about coverages that might help in determining if you will benefit from professional help.

  • What is the rate difference between pleasure use and commuting?
  • If my 2005 Ford GT is totaled, can I afford another vehicle?
  • If I drive on a suspended license am I covered?
  • Do I need higher collision deductibles?
  • Is my custom paint covered by insurance?
  • How can I find cheaper teen driver insurance?
  • Should I buy full coverage?
  • Does my policy pay for OEM or aftermarket parts?

If it’s difficult to answer those questions but you know they apply to you, you may need to chat with an insurance agent. To find lower rates from a local agent, complete this form or go to this page to view a list of companies. It only takes a few minutes and may give you better protection.

Insurance myths debunked

Consumers get pounded daily by advertisements for the lowest price auto insurance from the likes of Progressive, Geico, Allstate and State Farm. All the companies make the same claim that you’ll save big after switching your coverage to them.

How can each company make the same claim? It’s all in the numbers.

All the different companies have a preferred profile for the right customer they prefer to insure. An example of a desirable insured could possibly be over the age of 50, has no driving citations, and has excellent credit. Any driver that hits that “sweet spot” is entitled to the best price and most likely will save a lot of money.

Drivers who fall outside these standards will have to pay higher prices and this can result in business not being written. Company advertisements say “people who switch” not “everyone that quotes” save that kind of money. That’s the way insurance companies can state the savings. Because of the profiling, you need to get as many quotes as possible. It’s not possible to predict the company that will fit your personal profile best.

Detailed coverages of your auto insurance policy

Having a good grasp of your policy can help you determine appropriate coverage and proper limits and deductibles. The coverage terms in a policy can be impossible to understand and reading a policy is terribly boring. Below you’ll find typical coverage types found on most auto insurance policies.

Medical costs insurance – Medical payments and Personal Injury Protection insurance kick in for bills for things like doctor visits, X-ray expenses and EMT expenses. They can be utilized in addition to your health insurance policy or if you do not have health coverage. Medical payments and PIP cover both the driver and occupants and also covers any family member struck as a pedestrian. PIP coverage is only offered in select states and may carry a deductible

Collision coverages – Collision insurance pays to fix your vehicle from damage resulting from colliding 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 can pay for things like driving through your garage door, hitting a parking meter and colliding with another moving vehicle. Collision is rather expensive coverage, so you might think about dropping it from vehicles that are 8 years or older. It’s also possible to raise the deductible to get cheaper collision coverage.

Comprehensive or Other Than Collision – This covers damage OTHER than collision with another vehicle or object. You first must pay your deductible then your comprehensive coverage will pay.

Comprehensive can pay for things such as a tree branch falling on your vehicle, a broken windshield and damage from flooding. The maximum payout you’ll receive from a claim is the actual cash value, so if your deductible is as high as the vehicle’s value consider removing comprehensive coverage.

UM/UIM Coverage – This provides protection from other motorists when they are uninsured or don’t have enough coverage. This coverage pays for injuries sustained by your vehicle’s occupants and damage to your 2005 Ford GT.

Since many drivers carry very low liability coverage limits, their limits can quickly be used up. For this reason, having high UM/UIM coverages is important protection for you and your family.

Liability – Liability coverage protects you from damages or injuries you inflict on people or other property. This insurance protects YOU from claims by other people. Liability doesn’t cover your injuries or vehicle damage.

Liability coverage has three limits: bodily injury for each person, bodily injury for the entire accident, and a limit for property damage. You might see policy limits of 50/100/50 which stand for a limit of $50,000 per injured person, $100,000 for the entire accident, and a limit of $50,000 paid for damaged property.

Liability can pay for things such as structural damage, loss of income, medical expenses and pain and suffering. How much coverage you buy is your choice, but buy as large an amount as possible.

Stretch your dollar

When trying to cut insurance costs, you should never buy less coverage just to save a little money. In too many instances, drivers have reduced liability limits or collision coverage only to find out that the few dollars in savings costed them thousands. The proper strategy is to purchase a proper amount of coverage at the best price while not skimping on critical coverages.

You just read many tips how you can compare 2005 Ford GT insurance prices online. The key thing to remember is the more quotes you get, the higher your chance of finding lower rates. You may even discover the lowest rates come from a smaller regional carrier. These smaller insurers may have significantly lower rates on certain market segments as compared to the big name companies such as Geico and State Farm.

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