2007 Ford Shelby GT500 Insurance Rates

Searching for better car insurance rates for your Ford Shelby GT500? Trying to come up with a payment for high-priced car insurance can bleed your checking account and possibly require postponing other expenditures. Shopping your coverage around is a fast and free way to ensure you are getting the best deal.

Many auto insurance companies vie for your insurance dollar, and it can be difficult to compare rates to get the best rates possible.

It’s a great practice to do price comparisons before your next renewal because car insurance rates go up and down regularly. Just because you found the best rate for Shelby GT500 coverage on your last policy other companies may now be cheaper. Forget anything you know (or think you know) about car insurance because you’re about to learn the only way to lower your rates without sacrificing coverage.

If you currently have car insurance, you will most likely be able to save some money using these techniques. Buying car insurance is quite easy. Although consumers can benefit by having an understanding of how the larger insurance companies sell online and use this information to your advantage.

Which insurance coverage is cheapest?

When shopping for insurance coverage there are multiple ways to compare rate quotes from different companies. One of the best ways to find competitive 2007 Ford Shelby GT500 insurance rates is to perform an online rate comparison. This is very easy and can be done in just a few minutes using one of these methods.

The best way to get the best comparison quotes would be an industry-wide quote request form like this one (opens in new window). This style of form saves time by eliminating repetitive form entry to each individual insurance coverage company. A single form gets coverage cost estimates from several companies.
A harder way to get quotes online is spending the time to visit each company’s website and get a separate price quote. For example, we’ll assume you want to see prices from Allstate, GEICO and Liberty Mutual. You would be required to navigate to each company’s site and type in your information over and over, which can be really labor intensive. For a list of links to insurance companies in your area, click here.

Compare rates however you want, just be certain you are entering the exact same deductibles and coverage limits for every company. If your comparisons have different limits and deductibles on each one it will be very difficult to truly determine the lowest rate. Just slight variations in coverages can result in a big premium difference. And when comparison shopping, comparing all the rates in your area helps locate better pricing.

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Lower rate quotes with these five car insurance discounts

Auto insurance companies don’t always advertise all possible discounts in an easy-to-find place, so the list below gives a summary of a few of the more common and also the lesser-known credits available to you. If you aren’t receiving every discount available, you are throwing money away.

E-sign – Certain insurance companies will discount your bill up to fifty bucks for completing your application on the internet.
Discounts for Government Workers – Simply working for the federal government can save as much as 8% for Shelby GT500 coverage but check with your company.
No Accidents – Good drivers with no accidents can save substantially as compared to drivers with a long claim history.
Discounts for Multiple Vehicles – Purchasing coverage when you have multiple cars or trucks on one policy can reduce the rates for all insured vehicles.
Low Mileage – Driving fewer miles may allow you to get better premium rates on cars that stay parked.

Don’t be shocked that some credits don’t apply to the entire cost. Most only reduce the price of certain insurance coverages like collision or personal injury protection. So when it seems like adding up those discounts means a free policy, that’s just not realistic.

Popular car insurance companies and some of the discounts are detailed below.

Travelers has discounts for hybrid/electric vehicle, home ownership, IntelliDrive, multi-policy, new car, student away at school, and good student.
21st Century has savings for homeowners, student driver, air bags, theft prevention, driver training, and automatic seat belts.
State Farm may have discounts that include multiple autos, good driver, student away at school, passive restraint, safe vehicle, Steer Clear safe driver discount, and defensive driving training.
GEICO offers premium reductions for good student, federal employee, air bags, anti-lock brakes, five-year accident-free, and driver training.
SAFECO may include discounts for homeowner, teen safety rewards, anti-lock brakes, teen safe driver, accident prevention training, and multi-car.
AAA may offer discounts for AAA membership discount, education and occupation, anti-theft, good driver, good student, and pay-in-full.

When comparing rates, check with all companies you are considering to give you their best rates. All car insurance discounts might not apply in your area. If you would like to choose from a list of companies that offer discounts, click this link.

Auto insurance can get complicated

When buying the best auto insurance coverage for your vehicles, there really is not a cookie cutter policy. Everyone’s situation is unique and a cookie cutter policy won’t apply. These are some specific questions might help in determining if your insurance needs will benefit from professional help.

Does my 2007 Ford Shelby GT500 qualify for pleasure use?
Is my dog or cat covered if injured in an accident?
Is my ex-spouse still covered by my policy?
Is extra glass coverage worth it?
Are all vehicle passengers covered by medical payments coverage?
Is a new car covered when I drive it off the dealer lot?
Does my medical payments coverage pay my health insurance deductible?
Does having multiple vehicles earn me a discount?
When can I cancel my policy?

If you can’t answer these questions but you know they apply to you then you might want to talk to a licensed insurance agent. To find an agent in your area, fill out this quick form or you can go here for a list of companies in your area.

Coverage specifics

Having a good grasp of your policy helps when choosing which coverages you need for your vehicles. Insurance terms can be confusing and nobody wants to actually read their policy. These are the usual coverages found on most insurance policies.

Collision coverage protection

This will pay to fix damage to your Shelby GT500 caused by collision with a stationary object or other vehicle. You first must pay a deductible and then insurance will cover the remainder.

Collision coverage pays for things like colliding with another moving vehicle, crashing into a ditch and colliding with a tree. Paying for collision coverage can be pricey, so analyze the benefit of dropping coverage from lower value vehicles. Another option is to raise the deductible in order to get cheaper collision rates.

Liability car insurance

This provides protection from damage that occurs to a person or their property that is your fault. This insurance protects YOU from claims by other people. It does not cover your injuries or vehicle damage.

It consists of three limits, bodily injury for each person injured, bodily injury for the entire accident and a property damage limit. You might see liability limits of 25/50/25 that translate to a limit of $25,000 per injured person, $50,000 for the entire accident, and a total limit of $25,000 for damage to vehicles and property. Some companies may use one number which is a combined single limit that pays claims from the same limit and claims can be made without the split limit restrictions.

Liability coverage pays for things such as repair bills for other people’s vehicles, medical services and bail bonds. How much liability coverage do you need? That is your choice, but you should buy as high a limit as you can afford.

Uninsured/Underinsured Motorist coverage

This coverage provides protection when other motorists are uninsured or don’t have enough coverage. Covered claims include medical payments for you and your occupants and also any damage incurred to your 2007 Ford Shelby GT500.

Since many drivers carry very low liability coverage limits, their limits can quickly be used up. That’s why carrying high Uninsured/Underinsured Motorist coverage is a good idea. Frequently the UM/UIM limits do not exceed the liability coverage limits.

Medical payments coverage and PIP

Personal Injury Protection (PIP) and medical payments coverage reimburse you for expenses such as ambulance fees, nursing services, funeral costs and doctor visits. They are utilized in addition to your health insurance plan or if there is no health insurance coverage. Medical payments and PIP cover you and your occupants and will also cover any family member struck as a pedestrian. PIP is not an option in every state and may carry a deductible

Comprehensive coverage

Comprehensive insurance pays for damage caused by mother nature, theft, vandalism and other events. You first must pay your deductible then the remaining damage will be covered by your comprehensive coverage.

Comprehensive insurance covers things like hail damage, hitting a bird and vandalism. The maximum payout a insurance company will pay at claim time is the ACV or actual cash value, so if the vehicle is not worth much it’s probably time to drop comprehensive insurance.

Better coverage you can count on

While you’re price shopping online, it’s a bad idea to buy less coverage just to save a little money. There are many occasions where someone sacrificed full coverage and found out when filing a claim they didn’t purchase enough coverage. Your strategy should be to purchase plenty of coverage at the lowest possible cost.

More affordable car insurance can be sourced on the web and also from your neighborhood agents, so you need to shop auto insurance with both so you have a total pricing picture. There are still a few companies who do not provide rates over the internet and most of the time these small insurance companies work with local independent agents.

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