2021 Ford Shelby GT500 Car Insurance Rates in 2024

Saving money on car insurance can be a challenge for drivers not familiar with online comparison shopping. Consumers have so many choices that it can easily become a big hassle to find cheaper car insurance rates.

It’s smart to do price comparisons once or twice a year because prices fluctuate regularly. Despite the fact that you may have had the lowest rates on Shelby GT500 insurance last year there may be better deals available now. Block out anything you think you know about car insurance because I’m going to teach you the proper way to reduce your cost while increasing coverage.

Pay discount rates these premium-slashing discounts

Some insurance providers don’t necessarily list every discount they offer very well, so below is a list a few of the more common and also the more inconspicuous savings tricks you should be using when you buy car insurance online.

• Clubs and Organizations – Having an affiliation with a civic or occupational organization may earn a discount on your policy.
• Discount for Low Mileage – Low mileage vehicles could qualify for discounted rates on garaged vehicles.
• Multi-Vehicle Discounts – Buying coverage for more than one vehicle with the same insurance company can get a discount for every vehicle.
• Safety Course Discount – Taking time to complete a defensive driver course could cut 5% off your bill depending on where you live.
• Discount for Life Insurance – Select insurance companies reward you with a small discount if you purchase a life policy as well.
• College Student – Kids who are attending college and won’t have access to an insured vehicle could get you a discount.
• Discount for New Cars – Buying a new car instead of a used car can save you some money since new model year vehicles are generally safer.
• Waiver for an Accident – Not necessarily a discount, but some companies like Liberty Mutual and GEICO will allow you to have one accident before they charge you more for coverage if your claims history is clear for a certain period of time.
• Theft Deterrent Discount – Cars, trucks, and SUVs optioned with advanced anti-theft systems can help prevent theft and that can save you a little bit as well.

One last thing about discounts, many deductions do not apply to the entire cost. A few only apply to specific coverage prices like liability and collision coverage. If you do the math and it seems like having all the discounts means you get insurance for free, it doesn’t quite work that way.

Companies and a summarized list of policyholder discounts are outlined below.

• Progressive offers discounts including online quote discount, multi-policy, online signing, multi-vehicle, homeowner, and continuous coverage.
• MetLife policyholders can earn discounts including good student, defensive driver, accident-free, claim-free, and good driver.
• Mercury Insurance has savings for multi-car, ease of repair, age of vehicle, good driver, and type of vehicle.
• Nationwide may have discounts that include accident-free, business or organization, anti-theft, defensive driving, and multi-policy.
• GEICO offers premium reductions for five-year accident-free, membership and employees, daytime running lights, anti-lock brakes, multi-vehicle, air bags, and seat belt use.
• AAA may include discounts for good student, anti-theft, multi-policy, multi-car, good driver, AAA membership discount, and education and occupation.

When getting free car insurance quotes, it’s a good idea to every company what discounts are available to you. A few discounts might not apply in your area.

The most recommended method to get policy rate comparisons is to know car insurance companies pay for the opportunity to provide you with free rate quotes. The one thing you need to do is provide information like which vehicles you own, your job, how much school you completed, and whether you have decent credit. Your information is instantly sent to multiple auto insurance providers and they return cost estimate within a short period of time.

Do I need special coverages?

When it comes to choosing adequate coverage for your vehicles, there is no perfect coverage plan. Your needs are not the same as everyone else’s.

These are some specific questions can help discover if your insurance needs would benefit from an agent’s advice.

• When should my teen driver be added to my policy?
• Can I afford to pay high deductible claims out of pocket?
• Does my insurance cover a custom paint job?
• Am I covered when pulling a rental trailer?
• Why am I required to get a high-risk car insurance policy?
• Why am I required to buy liability insurance?
• Does my insurance cover damage caused when ticketed for reckless driving?
• Should I sign the liability waiver when renting a car?

If you can’t answer these questions, you might consider talking to a licensed agent. To find an agent in your area, complete your zip code.

Insurance coverages explained

Having a good grasp of a insurance policy aids in choosing appropriate coverage at the best deductibles and correct limits. Policy terminology can be impossible to understand and even agents have difficulty translating policy wording.

Comprehensive coverage

This will pay to fix damage from a wide range of events other than collision. You first have to pay a deductible then your comprehensive coverage will pay.

Comprehensive coverage protects against claims like hitting a deer, hail damage, damage from flooding and damage from a tornado or hurricane. The maximum payout your insurance company will pay is the cash value of the vehicle, so if your deductible is as high as the vehicle’s value it’s probably time to drop comprehensive insurance.

Medical payments coverage and PIP

Coverage for medical payments and/or PIP reimburse you for bills like funeral costs, chiropractic care, ambulance fees, surgery and pain medications. The coverages can be used to fill the gap from your health insurance program or if you lack health insurance entirely. Coverage applies to you and your occupants and also covers any family member struck as a pedestrian. Personal Injury Protection is not an option in every state but it provides additional coverages not offered by medical payments coverage

Uninsured/Underinsured Motorist coverage

This coverage provides protection from other motorists when they are uninsured or don’t have enough coverage. It can pay for injuries sustained by your vehicle’s occupants as well as damage to your Ford Shelby GT500.

Since many drivers only purchase the least amount of liability that is required, their limits can quickly be used up. That’s why carrying high Uninsured/Underinsured Motorist coverage is a good idea.

Liability coverages

This will cover damage that occurs to other’s property or people by causing an accident. This coverage protects you from claims by other people, and doesn’t cover your own vehicle damage or injuries.

Coverage consists of three different limits, per person bodily injury, per accident bodily injury, and a property damage limit. As an example, you may have limits of 100/300/100 which stand for a limit of $100,000 per injured person, a total of $300,000 of bodily injury coverage per accident, and $100,000 of coverage for damaged property.

Liability can pay for things like funeral expenses, loss of income, medical services, medical expenses and court costs. How much liability should you purchase? That is up to you, but it’s cheap coverage so purchase higher limits if possible.

Collision insurance

Collision insurance covers damage to your Shelby GT500 resulting from a collision with another vehicle or an object, but not an animal. You first must 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, sideswiping another vehicle and rolling your car. Collision is rather expensive coverage, so you might think about dropping it from older vehicles. You can also increase the deductible to bring the cost down.

Power to the consumer

Consumers switch companies for a variety of reasons including high rates after DUI convictions, questionable increases in premium, policy non-renewal and even extreme rates for teen drivers. Regardless of your reason, choosing a new company can be pretty painless.

Cost effective 2021 Ford Shelby GT500 insurance is attainable online and from local insurance agents, and you should compare price quotes from both in order to have the best price selection to choose from. Some insurance coverage companies do not offer rates over the internet and many times these smaller providers prefer to sell through independent insurance agents.

When shopping online for insurance coverage, it’s not a good idea to sacrifice coverage to reduce premiums. There have been many situations where an accident victim reduced uninsured motorist or liability limits and discovered at claim time they didn’t purchase enough coverage. The ultimate goal is to buy enough coverage at the best cost and still be able to protect your assets.