Lower Your 2009 Ford Shelby GT500 Insurance Cost

Nobody I know likes paying for car insurance, particularly when they are paying too much.

Multiple insurers compete for your business, and it can be difficult to compare rates to find the absolute lowest rate

It is always a good idea to do rate comparisons occasionally since rates fluctuate regularly. Even if you think you had the lowest rates for Shelby GT500 insurance a couple years back other companies may now be cheaper. Don’t believe everything you read about car insurance online but by reading this article, you’re going to learn some good information on how to save money.

If you have car insurance now, you will most likely be able to cut costs considerably using this information. Finding affordable coverage is not rocket science. Although car owners need to have an understanding of the methods companies use to sell insurance online and take advantage of how the system works.

Discounts are great for lower rates

Car insurance can cost a lot, but companies offer discounts to cut the cost considerably. Certain discounts will be triggered automatically when you complete an application, but some may not be applied and must be specially asked for before you get the savings.

  • Anti-lock Brake System – Vehicles with anti-lock braking systems can avoid accidents and earn discounts up to 10%.
  • Multiple Vehicles – Buying coverage for multiple vehicles on the same insurance coverage policy could earn a price break for each car.
  • Safe Drivers – Drivers who avoid accidents can pay as much as 50% less for Shelby GT500 insurance than drivers with accident claims.
  • No Accidents – Drivers with accident-free driving histories can earn big discounts as compared to frequent claim filers.
  • Homeowners Discount – Being a homeowner can help you save on insurance coverage because owning a home is proof that your finances are in order.
  • Theft Prevention Discount – Anti-theft and alarm systems help deter theft and earn discounts up to 10%.
  • Senior Citizens – Older drivers may qualify for a small decrease in premiums for Shelby GT500 insurance.
  • Drivers Ed for Students – Make teen driver coverage more affordable by requiring them to enroll in driver’s education in school.
  • Safety Course Discount – Taking a course teaching defensive driving skills could save 5% or more depending on where you live.
  • Federal Government Employee – Being employed by or retired from a federal job may qualify you for a discount for Shelby GT500 insurance with a few insurance coverage companies.

It’s important to note that many deductions do not apply to the overall cost of the policy. Most cut specific coverage prices like physical damage coverage or medical payments. So despite the fact that it appears you can get free auto insurance, you won’t be that lucky. Any amount of discount will bring down the amount you have to pay.

To see a list of insurance companies offering insurance coverage discounts, click this link.

How to Compare Insurance Coverage Costs

The are a couple different ways to compare rate quotes from insurance coverage companies in your area. One of the best ways to find competitive 2009 Ford Shelby GT500 insurance rates is simply to get online rate quotes. This can be done in a couple of different ways.

  1. The best way to get quotes for comparison is a comparison rater form (click to open form in new window). This easy form prevents you from having to do boring form submissions for each company. One form submission gets you coverage quotes instantly.
  2. A harder way to find lower rates is spending the time to visit the website of each company and fill out their own quote form. For sake of this example, we’ll assume you want to compare rates from State Farm, Geico and American Family. To find out each rate you need to take the time to go to each site to enter your coverage information, and that’s why the first method is more popular. For a handy list of car insurance company links in your area, click here.
  3. The most time-consuming method to compare rates is to spend your day driving to different agent offices. Buying insurance online has reduced the need for local agents unless you want the professional guidance that only a license agent can provide. However, consumers can find lower rates online and still use a local agent.

It’s up to you which method you use, but make absolute certain that you use exactly the same deductibles and coverage limits on every quote you get. If your comparisons have different liability limits it will be next to impossible to decipher which rate is best. Just a small difference in insurance coverages can mean a large discrepancy in price. And when comparison shopping, having more price comparisons helps you find a better price.

Ford Shelby GT500 rate determination is complex

Consumers need to have an understanding of the rating factors that play a part in calculating the price you pay for insurance. Having a good understanding of what impacts premium levels enables informed choices that can help you get big savings.

Shown below are a partial list of the pieces insurance companies consider when setting your rates.

  • Teen drivers pay high rates – Older drivers tend to be more responsible, statistically cause fewer accidents and tend to be better behind the wheel. Teenage drivers tend to be less responsible behind the wheel and because of this, their insurance rates are much higher.
  • Where you live can impact rates – Being located in a rural area can save you money when it comes to insurance. Less people living in that area translates into fewer accidents and a lower car theft rate. Drivers who live in large cities have to deal with traffic congestion and a longer drive to work. More time on the road means more change of being in an accident.
  • An active claims history can cost you – Car insurance companies generally give better rates to policyholders who are claim-free. If you tend to file frequent claims, you can definitely plan on either higher rates or even cancellation. Auto insurance is designed for the bigger claims that can’t be paid out-of-pocket.
  • Traffic violations increase rates – Your driving record has a huge affect on how much you pay. Even a single moving violation may increase your cost twenty percent or more. Drivers with clean records have lower premiums than people who have multiple driving citations. Drivers who get severe violations like hit and run, DWI or reckless driving convictions may be required to submit a SR-22 form with the DMV in their state in order to drive a vehicle legally.
  • Little extras can really add up – There are many additional coverages that you can buy when buying insurance. Coverages like roadside assistance, towing coverage and motor club memberships are examples of these. These may sound like a good investment initially, but if you don’t need them get rid of them and save.
  • How many coverages with the same company – Many insurance companies give discounts to insureds who carry more than one policy in the form of a multi-policy discount. Even if you’re getting this discount you may still want to comparison shop to confirm you are receiving the best rates possible.

You may need specialized coverage

When buying adequate coverage for your vehicles, there really is not a best way to insure your cars. Everyone’s needs are different so your insurance needs to address that. These are some specific questions can help discover whether your personal situation would benefit from an agent’s advice.

  • Can I make deliveries for my home business?
  • Should I rate my 2009 Ford Shelby GT500 as pleasure use or commute?
  • Should I buy full coverage?
  • Is my state a no-fault state?
  • Is my nanny covered when driving my vehicle?
  • Is a new car covered when I drive it off the dealer lot?
  • Do I need replacement cost coverage?
  • Who is covered by my policy?

If you can’t answer these questions but a few of them apply, you may need to chat with an insurance agent. To find an agent in your area, take a second and complete this form or go to this page to view a list of companies.

Can you really save that much by switching?

Companies like Progressive, Allstate and Geico constantly bombard you with ads in print and on television. All the ads make an identical promise that you’ll save big if you switch your policy. How does each company claim to save you money?

All companies are able to cherry pick for the type of customer that is profitable for them. An example of a desirable insured could possibly be over the age of 50, insures multiple vehicles, and drives less than 7,500 miles a year. A customer who fits that profile will qualify for the lowest rates and most likely will save when switching.

Drivers who don’t qualify for the requirements will be charged a more expensive rate which leads to the driver buying from a lower-cost company. The ads state “customers who switch” but not “drivers who get quotes” save that much. That’s the way companies can truthfully state the savings.

That is why it’s extremely important to get quotes from several different companies. Because you never know which insurance companies will have the lowest Ford Shelby GT500 insurance rates.

Car insurance coverage information

Having a good grasp of your policy can help you determine which coverages you need and the correct deductibles and limits. The coverage terms in a policy can be impossible to understand and coverage can change by endorsement. These are typical coverage types found on most car insurance policies.

Uninsured/Underinsured Motorist (UM/UIM)

Uninsured or Underinsured Motorist coverage protects you and your vehicle’s occupants from other drivers when they either have no liability insurance or not enough. Covered losses include hospital bills for your injuries and also any damage incurred to your Ford Shelby GT500.

Since many drivers only carry the minimum required liability limits, their limits can quickly be used up. This is the reason having UM/UIM coverage is a good idea. Usually the UM/UIM limits do not exceed the liability coverage limits.

Med pay and Personal Injury Protection (PIP)

Coverage for medical payments and/or PIP provide coverage for expenses like nursing services, surgery, EMT expenses and doctor visits. They can be utilized in addition to your health insurance program or if there is no health insurance coverage. They cover you and your occupants and will also cover getting struck while a pedestrian. PIP is not an option in every state and may carry a deductible

Auto liability insurance

Liability insurance can cover damage that occurs to a person or their property in an accident. This insurance protects YOU against claims from other people. Liability doesn’t cover your own vehicle damage or injuries.

It consists of three limits, bodily injury for each person injured, bodily injury for the entire accident and a property damage limit. You commonly see limits of 50/100/50 that means you have a limit of $50,000 per injured person, a per accident bodily injury limit of $100,000, and property damage coverage for $50,000. Another option is a combined limit which provides one coverage limit with no separate limits for injury or property damage.

Liability coverage protects against things like repair costs for stationary objects, pain and suffering, attorney fees and repair bills for other people’s vehicles. How much coverage you buy is a personal decision, but consider buying as large an amount as possible.

Comprehensive insurance

This coverage pays for damage from a wide range of events other than collision. You first must pay your deductible and the remainder of the damage will be paid by comprehensive coverage.

Comprehensive insurance covers things such as a broken windshield, theft and damage from flooding. The most you can receive from a comprehensive claim is the ACV or actual cash value, so if your deductible is as high as the vehicle’s value it’s not worth carrying full coverage.

Coverage for collisions

Collision insurance pays to fix your vehicle from damage resulting from a collision with a stationary object or other vehicle. You have to pay a deductible and the rest of the damage will be paid by collision coverage.

Collision coverage pays for claims like colliding with another moving vehicle, sustaining damage from a pot hole and damaging your car on a curb. Paying for collision coverage can be pricey, so you might think about dropping it from lower value vehicles. Another option is to raise the deductible to get cheaper collision coverage.

Make an honest buck

You just read quite a bit of information on how to shop for 2009 Ford Shelby GT500 insurance online. The key thing to remember is the more rate comparisons you have, the higher your chance of finding lower rates. You may even find the lowest rates come from the smaller companies. These smaller insurers can often insure niche markets at a lower cost than their larger competitors like Progressive or Geico.

As you shop your coverage around, you should never skimp on critical coverages to save a buck or two. In many instances, someone dropped physical damage coverage and discovered at claim time that their decision to reduce coverage ended up costing them more. Your goal should be to buy a smart amount of coverage at an affordable rate.

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