Lower Your 2009 Ford Shelby GT500 Insurance Rates

Want lower car insurance rates for your Ford Shelby GT500? Feel like you’re a prisoner to overpriced car insurance? Believe me when I say many consumers are feeling buyer’s remorse and feel like there’s no way out. Many insurers compete for your insurance dollar, and because of this it can be hard to compare car insurance companies and uncover the absolute best price available.

Ford Shelby GT500 rates are in the details

It’s important that you understand the different types of things that come into play when calculating insurance rates. Having a good understanding of what controls the rates you pay empowers consumers to make smart changes that could result in lower insurance prices.

The list below includes some of the items used by your company to calculate premiums.

  • Traffic citations inflate rates – Your driving record impacts your car insurance rates tremendously. Careful drivers receive lower rates than bad drivers. Even one citation can boost insurance rates forty percent or more. Drivers who get serious violations such as reckless driving, hit and run or driving under the influence may be required to file a SR-22 with their state motor vehicle department in order to continue driving.
  • Males pay more for insurance – Statistics show women are more cautious behind the wheel. However, this does not mean women are better drivers. Both sexes tend to get into accidents in similar numbers, but the male of the species have costlier accidents. Men also tend to receive more costly citations like reckless driving and DUI. Teenage male drivers are several times more likely to be in an accident and thus pay the highest rates.
  • Extra add-on coverages are wasting money – There are many additional coverages that you can buy on your insurance policy. Things like rental car reimbursement, towing coverage and term life insurance may be wasting your money. These may sound like a good investment at first, but if they’re wasting money remove them from your policy.
  • Your job and insurance rates – Did you know that where you work can have an impact on rates? Occupations such as doctors, architects and stock brokers are shown to have the highest rates due to high stress and lengthy work days. On the other hand, occupations like actors, students and performers pay the least on Shelby GT500 coverage.
  • With age comes lower rates – Teen drivers have a tendency to be less responsible behind the wheel so insurance rates are higher. Adding a teenage driver to your insurance policy can break the bank. Older drivers tend to be more responsible, tend to file fewer claims and are safer drivers.
  • Small claims can cost you – Companies give better rates to drivers who are claim-free. If you file claims often, you can look forward to higher rates. Car insurance is designed for larger claims.
  • Safer cars are cheaper to insure – Vehicles with high crash test scores get lower rates. Safer cars reduce injuries and lower injury rates means less money paid by your insurance company passed on to you as lower rates. If your Ford is rated at least four stars on Safercar.gov or an “acceptable” rating on iihs.org it is probably cheaper to insure.
  • Liability coverage is cheap – Your policy’s liability coverage is the coverage that protects you in the event that a jury decides you are liable for damages caused by your negligence. Liability insurance provides you with a defense in court starting from day one. Liability is cheap as compared to coverage for physical damage, so do not cut corners here.

Discounts are great for lower rates

Insurance can be prohibitively expensive, but there could be available discounts that can drop the cost substantially. Some discounts apply automatically at the time of quoting, but less common discounts must be specially asked for before you will receive the discount. If you don’t get every credit you qualify for, you are paying more than you should be.

  • Low Mileage Discounts – Fewer annual miles on your Ford could be rewarded with discounted rates on garaged vehicles.
  • Homeowners Discount – Being a homeowner may earn you a small savings because of the fact that having a home demonstrates responsibility.
  • Driver’s Ed – Make teen driver coverage more affordable by requiring them to take driver’s ed class if it’s offered in school.
  • Memberships – Participating in a qualifying organization could trigger savings on your policy on Shelby GT500 coverage.
  • Paperless Signup – Certain companies give back up to $50 for buying your policy online.
  • No Claims – Good drivers with no accidents pay much less when compared to bad drivers.
  • Safety Course Discount – Successfully completing a course teaching defensive driving skills could possibly earn you a 5% discount if you qualify.
  • Multi-car Discount – Insuring more than one vehicle on one policy could earn a price break for each car.
  • New Car Discount – Insuring a new car can cost up to 25% less because new vehicles have to meet stringent safety requirements.

It’s important to understand that most discount credits are not given to the overall cost of the policy. Most only apply to the cost of specific coverages such as comprehensive or collision. So when it seems like you can get free auto insurance, companies wouldn’t make money that way. But all discounts will help reduce your premiums.

For a list of companies with the best insurance discounts, click this link.

You may need specialized coverage

When choosing the best insurance coverage for your personal vehicles, there really is no best way to insure your cars. Each situation is unique so your insurance needs to address that. For example, these questions could help you determine if your insurance needs might need an agent’s assistance.

  • Will my vehicle be repaired with OEM or aftermarket parts?
  • Should I buy full coverage?
  • Do I need more liability coverage?
  • Am I covered by my employer’s commercial auto policy when driving my personal car for business?
  • Where can I find high-risk insurance?
  • Do I have coverage when using my vehicle for my home business?
  • Does coverage extend to Mexico or Canada?
  • Do I have coverage if my license is suspended?
  • When should I not file a claim?

If you can’t answer these questions but you think they might apply to your situation, then you may want to think about talking to an agent. To find lower rates from a local agent, fill out this quick form or click here for a list of insurance companies in your area. It’s fast, doesn’t cost anything and can provide invaluable advice.

Auto insurance coverage breakdown

Learning about specific coverages of your auto insurance policy aids in choosing the best coverages and proper limits and deductibles. Auto insurance terms can be ambiguous and coverage can change by endorsement. These are the usual coverages found on the average auto insurance policy.

Auto liability

Liability insurance protects you from damages or injuries you inflict on other’s property or people that is your fault. It protects YOU from legal claims by others, and doesn’t cover damage to your own property or vehicle.

Coverage consists of three different limits, bodily injury per person, bodily injury per accident and property damage. You might see limits of 50/100/50 which stand for $50,000 in coverage for each person’s injuries, $100,000 for the entire accident, and property damage coverage for $50,000. Some companies may use one limit called combined single limit (CSL) which limits claims to one amount without having the split limit caps.

Liability coverage protects against things such as bail bonds, loss of income and funeral expenses. How much liability coverage do you need? That is a decision to put some thought into, but buy as high a limit as you can afford.

Collision protection

Collision insurance pays to fix your vehicle from damage from colliding 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 backing into a parked car, hitting a parking meter, scraping a guard rail and rolling your car. Paying for collision coverage can be pricey, so you might think about dropping it from vehicles that are older. Another option is to raise the deductible to get cheaper collision coverage.

Uninsured/Underinsured Motorist coverage

This gives you protection when the “other guys” either are underinsured or have no liability coverage at all. This coverage pays for medical payments for you and your occupants as well as your vehicle’s damage.

Because many people only purchase the least amount of liability that is required, it doesn’t take a major accident to exceed their coverage limits. So UM/UIM coverage should not be overlooked. Frequently these coverages are identical to your policy’s liability coverage.

Medical payments coverage and PIP

Medical payments and Personal Injury Protection insurance pay for immediate expenses like hospital visits, ambulance fees, funeral costs, nursing services and surgery. The coverages can be used in conjunction with a health insurance plan or if you lack health insurance entirely. They cover not only the driver but also the vehicle occupants in addition to any family member struck as a pedestrian. Personal Injury Protection is not universally available but can be used in place of medical payments coverage

Comprehensive coverage

This covers damage from a wide range of events other than collision. You first have to pay a deductible and the remainder of the damage will be paid by comprehensive coverage.

Comprehensive can pay for things such as a broken windshield, hail damage, falling objects and hitting a bird. The maximum payout your auto insurance company will pay is the market value of your vehicle, so if your deductible is as high as the vehicle’s value it’s not worth carrying full coverage.

Don’t throw your cash in the trash

We just covered many ideas to get a better price on 2009 Ford Shelby GT500 insurance. The key thing to remember is the more companies you get rates for, the better your chances of lowering your rates. You may even discover the best price on car insurance is with a lesser-known regional company. These companies can often provide lower rates in certain areas compared to the large companies like State Farm, GEICO and Nationwide.

As you restructure your insurance plan, it’s not a good idea to reduce coverage to reduce premium. There have been many situations where an insured dropped comprehensive coverage or liability limits only to regret that it was a big mistake. Your focus should be to buy the best coverage you can find at the best price, not the least amount of coverage.

Much more information about car insurance can be read at the links below