2007 Ford Shelby GT500 Car Insurance Cost – 6 Tips to Save

Looking for the cheapest car insurance rates? Shoppers have a choice when shopping for affordable Ford Shelby GT500 insurance. You can either spend your time struggling with agents trying to get quotes or use the internet to get rate quotes. There is a better way to find car insurance online and we’ll show you the best way to price shop coverage for a Ford and find the lowest possible price from local insurance agents and online providers.

Which Insurance is Cheapest?

Most companies like Geico, State Farm and Progressive allow you to get coverage price quotes online. Getting quotes is pretty easy as you simply enter your required coverages as requested by the quote form. Upon sending the form, their system will obtain your credit score and driving record and gives you a price quote based on these and other factors.

This streamlines rate comparisons, but having to visit many different websites and complete many quote forms is monotonous and tiresome. But it’s very important to compare as many rates as possible if you are searching for the lowest insurance rates.

A more efficient way to find lower prices makes use of a single form that obtains quotes from several companies at one time. It’s a real time-saver, requires less work, and makes rate comparisons much more enjoyable. Once the form is submitted, it is quoted and you can choose any of the quote results. If one or more price quotes are lower than your current rates, you can simply submit the application and purchase the new policy. The entire process only takes a few minutes and may result in a nice savings.

To quickly find out how much you’re overpaying now, click here and enter your information. If you have a policy now, it’s recommended you complete the form with the limits and deductibles just like they are on your policy. This ensures you will have a rate comparison based on similar coverages.

Drivers who switch save $400 a year? Really?

Consumers constantly see and hear ads for car insurance savings from the likes of Geico, State Farm and Progressive. All the ads say the same thing that you can save if you switch your coverage to them.

How does each company make almost identical claims? This is how they do it.

All the different companies can use profiling for the driver that earns them a profit. An example of a desirable insured could be between the ages of 30 and 50, is a homeowner, and has excellent credit. A driver who fits that profile receives the best rates and therefore will cut their rates substantially.

Potential insureds who do not match the “perfect” profile will be charged higher rates and ends up with the driver buying from a lower-cost company. The ads say “drivers who switch” not “everyone that quotes” save money. That’s why companies can advertise the savings. That is why you should get a wide range of price quotes. It’s not possible to predict which company will provide you with the cheapest Ford Shelby GT500 insurance rates.

Verify you’re getting all your discounts

Companies offering auto insurance don’t always publicize every available discount very clearly, so we researched some of the more common as well as the least known savings tricks you should be using. If you’re not getting every credit possible, you’re paying more than you need to.

  • Paperwork-free – A handful of insurance companies will discount your bill up to fifty bucks for buying a policy and signing up on their website.
  • Employee of Federal Government – Being employed by or retired from a federal job could cut as much as 10% off on Shelby GT500 coverage with a few car insurance companies.
  • No Charge for an Accident – A handful of insurance companies allow you one accident before your rates go up if you are claim-free for a particular time prior to the accident.
  • Save over 55 – If you qualify as a senior citizen, you may be able to get a discount up to 10% on Shelby GT500 coverage.
  • Good Student Discount – A discount for being a good student can earn a discount of 20% or more. The good student discount can last up to age 25.
  • Low Mileage Discounts – Low mileage vehicles can earn better rates on cars that stay parked.

It’s important to note that some of the credits will not apply the the whole policy. The majority will only reduce the cost of specific coverages such as medical payments or collision. Even though it may seem like it’s possible to get free car insurance, it just doesn’t work that way.

To see a list of companies with the best car insurance discounts, click here.

When should I talk to an agent?

When it comes to buying adequate coverage for your vehicles, there isn’t really a cookie cutter policy. Every insured’s situation is different.

These are some specific questions could help you determine if you might need an agent’s assistance.

  • What is covered by UM/UIM coverage?
  • Is my 2007 Ford Shelby GT500 covered for smoke damage?
  • How much can I save by bundling my policies?
  • Why does it cost so much to insure a teen driver?
  • Is my babysitter covered when using my vehicle?
  • Am I covered when pulling a rental trailer?
  • Am I covered when renting a car or should I buy coverage from the car rental agency?

If you can’t answer these questions but you know they apply to you, you may need to chat with an insurance agent. If you want to speak to an agent in your area, simply complete this short form. It’s fast, free and you can get the answers you need.

Insurance coverage breakdown

Knowing the specifics of your policy helps when choosing appropriate coverage and the correct deductibles and limits. The coverage terms in a policy can be impossible to understand and coverage can change by endorsement.

Uninsured/Underinsured Motorist (UM/UIM)

This provides protection from other motorists when they either are underinsured or have no liability coverage at all. Covered losses include injuries to you and your family as well as your vehicle’s damage.

Since many drivers carry very low liability coverage limits, it doesn’t take a major accident to exceed their coverage limits. That’s why carrying high Uninsured/Underinsured Motorist coverage should not be overlooked.

Comprehensive insurance

Comprehensive insurance coverage pays to fix your vehicle from damage caused by mother nature, theft, vandalism and other events. A deductible will apply then your comprehensive coverage will pay.

Comprehensive coverage pays for things like hitting a bird, rock chips in glass, vandalism and hail damage. The highest amount a insurance company will pay at claim time is the ACV or actual cash value, so if it’s not worth much more than your deductible consider removing comprehensive coverage.

Med pay and Personal Injury Protection (PIP)

Medical payments and Personal Injury Protection insurance pay for expenses like EMT expenses, surgery, rehabilitation expenses, hospital visits and X-ray expenses. They are often used in conjunction with a 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. Personal Injury Protection is not an option in every state and gives slightly broader coverage than med pay

Liability coverages

This coverage can cover damages or injuries you inflict on other’s property or people by causing an accident. It protects YOU against other people’s claims. Liability doesn’t cover 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. Your policy might show values of 100/300/100 that translate to a limit of $100,000 per injured person, a per accident bodily injury limit of $300,000, and $100,000 of coverage for damaged propery.

Liability insurance covers things such as bail bonds, legal defense fees and medical expenses. How much liability coverage do you need? That is a personal decision, but you should buy as large an amount as possible.

Coverage for collisions

Collision insurance will pay to fix damage to your Shelby GT500 from colliding with another vehicle or an object, but not an animal. You have to pay a deductible then your collision coverage will kick in.

Collision can pay for things such as crashing into a ditch, hitting a mailbox, sideswiping another vehicle and hitting a parking meter. This coverage can be expensive, so consider removing coverage from vehicles that are older. It’s also possible to raise the deductible to save money on collision insurance.

Smart shoppers get results

Consumers switch companies for a variety of reasons including policy non-renewal, delays in paying claims, unfair underwriting practices or being labeled a high risk driver. No matter why you want to switch, choosing a new insurance company can be less work than you think.

Throughout this article, we presented many tips how you can compare 2007 Ford Shelby GT500 insurance prices online. The key concept to understand is the more companies you get rates for, the better likelihood of reducing your rate. You may even discover the best price on auto insurance is with a small local company.

Discount insurance is possible online in addition to many insurance agents, and you need to comparison shop both in order to have the best chance of saving money. Some insurance companies do not provide the ability to get a quote online and many times these smaller companies only sell through independent insurance agents.

Other information