Cheapest 2012 Ford Shelby GT500 Insurance Rates in 2023
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UPDATED: Jun 5, 2023
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Trying to find cheaper car insurance rates for your Ford Shelby GT500? Searching for cheaper insurance for a new or used Ford Shelby GT500 can turn out to be an all-consuming task, but you can learn our car insurance buying tips and make it easy. There are both good and bad ways to shop for car insurance so we’re going to tell you the proper way to quote coverages for your Ford and locate the lowest price either online or from local insurance agents.
It’s a good habit to take a look at other company’s rates occasionally since insurance rates change regularly. Despite the fact that you may have had the lowest rates for Shelby GT500 coverage on your last policy there may be better deals available now. So just block out anything you think you know about car insurance because it’s time to teach you the best way to remove unneeded coverages and save money.
How to Get Insurance Coverage Comparison Quotes
Lowering your 2012 Ford Shelby GT500 insurance coverage rates is actually quite simple. The only thing you need to do is spend a little time comparing price quotes provided by online insurance companies. This is very easy and can be done in just a few minutes using one of these methods.
- The first (and easiest) way consumers can analyze rates is to use a rate comparison form (click to open form in new window). This easy form eliminates the need for separate forms for each company you want a rate for. One form will return price quotes from many national carriers. This is perfect if you don’t have a lot of time.
- A slightly less efficient method to obtain and compare quotes online requires you to visit the website of each company to complete a price quote. For sake of this example, we’ll assume you want rates from State Farm, Safeco and Travelers. To get each rate you have 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 list of links to companies insuring cars in your area, click here.
It doesn’t matter which method you choose, just double check that you are using identical coverage information for every company. If you have different limits and deductibles on each one then you won’t be able to determine the best price for your Ford Shelby GT500.
The car insurance bait and switch
Drivers get pounded daily by advertisements that promise big savings from the likes of Allstate, GEICO and Progressive. They all make an identical promise of big savings if you switch your coverage to them.
How do they all say the same thing? This is how they do it.
Insurance companies are able to cherry pick for the type of driver that earns them a profit. For example, a desirable insured could be between 25 and 40, has no tickets, and chooses high deductibles. A propective insured that hits that “sweet spot” will qualify for the lowest rates and most likely will save when they switch companies.
Potential customers who don’t qualify for the “perfect” profile will be charged higher rates and ends up with business going elsewhere. The ad wording is “drivers who switch” but not “drivers who get quotes” save that kind of money. This is how insurance companies can confidently advertise the savings. That is why you absolutely need to get a wide range of price quotes. It’s impossible to know the company that will provide you with the cheapest Ford Shelby GT500 insurance rates.
Lesser-known factors impacting Ford Shelby GT500 insurance rates
An important part of buying insurance is that you know the different types of things that come into play when calculating your auto insurance rates. Understanding what determines base rates helps enable you to make changes that can help you get better auto insurance rates.
- Drive less and save money – The higher the mileage driven every year the higher your rates will be. Almost all companies apply a rate based upon how you use the vehicle. Cars and trucks not used for work or commuting receive lower rates compared to those used for work or business. If your policy improperly rates your Shelby GT500 may be wasting your money. Ask your agent if your auto insurance declarations sheet properly reflects the correct usage for each vehicle, because improper ratings can cost you money.
- Your job and insurance rates – Occupations like lawyers, business owners and stock brokers have the highest rates due to high stress levels and lots of time spent at work. On the other hand, occupations such as scientists, students and retirees get better rates for Shelby GT500 coverage.
- More than one policy can earn a discount – Some insurers provide better rates to insureds who consolidate policies with them such as combining an auto and homeowners policy. Discounts can be five, ten or even twenty percent. Even with this discount, you still need to compare rates to confirm you are receiving the best rates possible.
- Traffic citations inflate rates – Whether or not you get tickets has a lot to do with how much you pay for insurance. Drivers with clean records have lower premiums compared to drivers with tickets. Even one citation may increase your cost by twenty percent. Drivers with flagrant tickets like hit and run, DWI or reckless driving convictions are required to file a SR-22 with their state motor vehicle department in order to keep their license.
- Don’t sacrifice liability coverage – Liability coverage is the protection in the event that you are found liable for damages caused by your negligence. It will provide legal defense coverage starting from day one. Liability is cheap when compared with rates for comp and collision, so do not cut corners here.
Policy discounts you shouldn’t miss
Companies that sell car insurance don’t list every available discount in an easy-to-find place, so we researched both the well known and the more hidden savings tricks you should be using. If they aren’t giving you every credit you qualify for, you are throwing money away.
- One Accident Forgiven – A few companies allow you one accident before raising your premiums if you are claim-free for a set time period.
- Sign Early and Save – Some insurance companies reward drivers for switching policies before your current policy expires. It can save you around 10%.
- Multi-car Discount – Buying coverage for more than one vehicle with the same company can get a discount on all vehicles.
- New Car Discount – Adding a new car to your policy can save up to 30% because new vehicles have to meet stringent safety requirements.
- Driver Safety – Taking part in a course teaching defensive driving skills can save you 5% or more if your company offers it.
- Senior Citizens – If you’re over the age of 55, you may receive better auto insurance rates for Shelby GT500 coverage.
- Fewer Miles Equal More Savings – Low mileage vehicles can earn lower rates on the low mileage vehicles.
- Memberships – Participating in certain professional organizations is a good way to get lower rates on your policy for Shelby GT500 coverage.
Consumers should know that most of the big mark downs will not be given to all coverage premiums. Some only reduce specific coverage prices like collision or personal injury protection. So even though they make it sound like adding up those discounts means a free policy, it doesn’t quite work that way.
To see a list of companies who offer auto insurance discounts, follow this link.
Insurance agents can help
When it comes to choosing the best car insurance coverage for your vehicles, there really is not a “perfect” insurance plan. Every situation is different.
These are some specific questions can help discover if your insurance needs might need an agent’s assistance.
- What is the ISO rating for a 2012 Ford Shelby GT500?
- Am I covered if my car is in a flood?
- Do I have coverage when pulling a U-Haul trailer?
- Am I covered if I wreck a rental car?
- Does insurance cover damages from a DUI accident?
- What can I do if my company won’t pay a claim?
- Am I covered when renting a car or should I buy coverage from the car rental agency?
- Do I benefit by insuring my home with the same company?
If you can’t answer these questions but you think they might apply to your situation, you may need to chat with an agent. To find an agent in your area, take a second and complete this form. It is quick, free and can provide invaluable advice.
Car insurance 101
Learning about specific coverages of your insurance policy helps when choosing which coverages you need and proper limits and deductibles. Policy terminology can be confusing and reading a policy is terribly boring.
Coverage for liability
Liability coverage protects you from injuries or damage you cause to people or other property that is your fault. This coverage protects you against claims from other people. It does not cover your injuries or vehicle damage.
Coverage consists of three different limits, bodily injury for each person, bodily injury for the entire accident, and a limit for property damage. Your policy might show policy limits of 25/50/25 that means you have $25,000 bodily injury coverage, $50,000 for the entire accident, and a limit of $25,000 paid for damaged property.
Liability can pay for claims such as bail bonds, funeral expenses, repair bills for other people’s vehicles and emergency aid. How much liability should you purchase? That is your choice, but you should buy as much as you can afford.
This coverage covers damage to your Shelby GT500 from colliding with an object or car. 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, sustaining damage from a pot hole and backing into a parked car. Collision is rather expensive coverage, so consider removing coverage from lower value vehicles. Another option is to choose a higher deductible to save money on collision insurance.
Protection from uninsured/underinsured drivers
This protects you and your vehicle’s occupants from other drivers 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 only carry the minimum required liability limits, their limits can quickly be used up. That’s why carrying high Uninsured/Underinsured Motorist coverage should not be overlooked.
Comprehensive (Other than Collision)
This will pay to fix damage from a wide range of events other than collision. You need to pay your deductible first and then insurance will cover the rest of the damage.
Comprehensive coverage protects against claims like hitting a bird, a tree branch falling on your vehicle and theft. The maximum amount a insurance company will pay at claim time is the market value of your vehicle, so if the vehicle’s value is low consider dropping full coverage.
Medical expense insurance
Coverage for medical payments and/or PIP kick in for expenses like nursing services, hospital visits and chiropractic care. They can be utilized in addition to your health insurance policy or if you lack health insurance entirely. They cover not only the driver but also the vehicle occupants as well as getting struck while a pedestrian. PIP coverage is not an option in every state and may carry a deductible
Coverage on a shoestring budget
People switch companies for a variety of reasons including being labeled a high risk driver, an unsatisfactory settlement offer, questionable increases in premium or even policy cancellation. Whatever your reason, finding the right insurance coverage provider is not as difficult as it may seem.
Cost effective 2012 Ford Shelby GT500 insurance is possible both online in addition to many insurance agents, so compare prices from both to have the best rate selection. There are still a few companies who do not provide the ability to get a quote online and many times these small insurance companies only sell through independent insurance agents.
When you buy insurance online, don’t be tempted to reduce coverage to reduce premium. There have been many situations where someone sacrificed uninsured motorist or liability limits only to discover later that their decision to reduce coverage ended up costing them more. Your aim should be to buy enough coverage for the lowest price.
More detailed insurance coverage information is available in the articles below:
- Auto Insurance Basics (Insurance Information Insitute)
- Choosing a Car for Your Teen (State Farm)
- Anti-Lock Brake FAQ (iihs.org)
- Eight Auto Insurance Myths (Insurance Information Insitute)
- When is the Right Time to Switch Car Insurance Companies? (Allstate)
- Side Impact Crash Tests (iihs.org)
Frequently Asked Questions
What factors can affect the insurance rates for a 2012 Ford Shelby GT500?
Several factors can impact the insurance rates for a 2012 Ford Shelby GT500. These factors include the driver’s age, driving record, location, annual mileage, coverage options selected, and the insurance company’s individual pricing policies. Additionally, the Shelby GT500’s model, trim level, engine size, and value can significantly influence insurance rates.
Is the 2012 Ford Shelby GT500 considered an expensive car to insure?
Yes, the 2012 Ford Shelby GT500 is generally considered an expensive car to insure. It is a high-performance sports car with a powerful engine, which typically leads to higher insurance rates. Sports cars tend to have higher premiums due to their increased risk of accidents and theft.
Are there any specific discounts available to help reduce the insurance rates for a 2012 Ford Shelby GT500?
While insurance companies may offer various discounts, it’s important to note that discounts for high-performance sports cars like the Shelby GT500 may be limited. However, you can inquire about discounts for safety features, such as anti-lock brakes, airbags, and anti-theft devices. Additionally, maintaining a clean driving record and bundling your insurance policies with the same provider may help reduce rates.
How can I find the cheapest insurance rates for a 2012 Ford Shelby GT500?
To find the most affordable insurance rates for a 2012 Ford Shelby GT500, it is recommended to obtain quotes from multiple insurance companies that specialize in insuring high-performance vehicles. Contact insurers directly or use online comparison tools to gather quotes and compare coverage options. Be aware that insurance rates for sports cars like the Shelby GT500 tend to be higher, so it’s crucial to shop around and compare offers.
Are there any specific insurance companies known for offering competitive rates on 2012 Ford Shelby GT500 insurance?
Insurance rates can vary significantly between companies, so it is advisable to obtain quotes from multiple insurers to find the best rates for a 2012 Ford Shelby GT500. Some insurers that specialize in providing coverage for high-performance vehicles include Hagerty, Grundy, and American Modern Insurance Group. However, it’s important to compare quotes from different insurers to find the best deal for your specific circumstances.
Can I adjust my coverage options to lower the insurance rates for my 2012 Ford Shelby GT500?
Adjusting your coverage options may help lower insurance rates, but it’s important to carefully consider the impact on your financial protection. Reducing coverage limits or removing optional coverages may result in less protection in the event of an accident or other covered incidents. It is advisable to evaluate your coverage needs and consult with your insurance provider to find the right balance between cost and coverage.
Are there any aftermarket modifications that can help reduce insurance rates for a 2012 Ford Shelby GT500?
While some modifications, such as installing safety features or anti-theft devices, may reduce the risk of theft or accidents and potentially lead to lower insurance premiums, it is advisable to consult with your insurance provider. Some modifications may not directly affect insurance rates, and others may even increase rates if they alter the performance or value of the vehicle. It’s crucial to discuss any modifications with your insurer to understand their impact on your insurance premiums.
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