2018 Ford Shelby GT500 Car Insurance Cost in 2024 – 10 Discounts for Cheaper Prices

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Jeffrey Johnson

Insurance Lawyer

Jeffrey Johnson is a legal writer with a focus on personal injury. He has worked on personal injury and sovereign immunity litigation in addition to experience in family, estate, and criminal law. He earned a J.D. from the University of Baltimore and has worked in legal offices and non-profits in Maryland, Texas, and North Carolina. He has also earned an MFA in screenwriting from Chapman Univer...

Insurance Lawyer

UPDATED: May 18, 2024

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Trying to find lower auto insurance rates for your Ford Shelby GT500? Pretty sure you bought an overpriced auto insurance policy? Don’t feel bad because there are many people just like you.

Many insurers vie for your business, and it can be difficult to compare rates to find the absolute lowest rate possible.

If you are paying for car insurance now, you stand a good chance to be able to reduce your rates substantially using these techniques. Buying car insurance is not rocket science. But car owners can benefit by having an understanding of how insurance companies sell insurance online and use this information to your advantage.

How to compare free car insurance rate quotes

The are a couple different ways to compare rate quotes from all the different companies. The easiest way to lower the rate you pay for Ford Shelby GT500 insurance is simply to get online rate quotes. It is quite easy and can be accomplished using a couple different methods.

  • Without a doubt, the easiest way consumers can make multiple comparisons is an all-inclusive rate comparison. This quick form prevents you from having to do boring form submissions for every car insurance company. One quote request gets insurance cost estimates from multiple companies.
  • A slightly less efficient method to compare prices is to manually visit each company’s website and fill out their own quote form. For sake of this example, we’ll assume you want to see prices from Progressive, Liberty Mutual and Allstate. To do that, you would have to go to each individual site to input your insurance information, and that explains why we recommend the first method.
  • Even if you have time, the least recommended method to find and compare rates is to drive around to and from local insurance agencies. Quoting online eliminates the need for an insurance agent unless you want the guidance that only an agent can give. It is possible with some companies price shop online but have a local agent actually write the policy.

Which method you use is up to you, but be sure to compare the exact same coverage information for every quote you compare. If each company quotes unequal deductibles or liability limits it will be nearly impossible to determine the best price for your Ford Shelby GT500. Slightly different insurance coverages may result in large price differences. Just keep in mind that quoting more helps improve the odds of finding better pricing.

Pay discount rates with these ten discounts

Some insurance providers don’t always publicize every policy discount in an easy-to-find place, so the following list contains some of the more common as well as the least known savings tricks you should be using when you buy car insurance online.

  • Driver’s Education for Students – Have your child successfully complete driver’s ed class in school or through a local driver safety program.
  • First Accident Forgiveness – but a few companies such as GEICO, State Farm, and Progressive allow you one accident before raising your premiums as long as you don’t have any claims prior to being involved in the accident.
  • Discounts for Safe Drivers – Drivers who avoid accidents may receive a discount up to 45% on Shelby GT500 coverage as compared to drivers with claims.
  • Homeowners Discount – Owning your own home or condo may earn you a small savings because of the fact that having a home shows financial diligence.
  • Lower Rates for Military – Being on active deployment in the military could be rewarded with lower prices.
  • Life Insurance – If the company offers life insurance, you could get a discounted insurance rate on car insurance if you buy a life insurance policy as well.
  • Low Mileage Discounts – Keeping the miles down on your Ford could be rewarded with discounted prices on garaged vehicles.
  • Auto/Home Discount – If you insure your home and vehicles with one company you will save as much as 10 to 15 percent.
  • Discounts for New Vehicles – Adding a new car to your policy can save you some money because new vehicles have to meet stringent safety requirements.
  • Sign Early and Save – A few insurance companies offer discounts for buying a new policy prior to your current policy expiration. It’s a savings of about 10%.

Consumers should know that most discount credits are not given to the whole policy. Most cut the price of certain insurance coverages like comprehensive or collision. So when it seems like it’s possible to get free car insurance, companies don’t profit that way.

A few popular companies and their possible discounts are:

  • State Farm has discounts for accident-free, passive restraint, student away at school, anti-theft, good driver, driver’s education, and Drive Safe & Save.
  • GEICO policyholders can earn discounts including multi-policy, five-year accident-free, multi-vehicle, air bags, and emergency military deployment.
  • Liberty Mutual has savings for newly retired, newly married, teen driver discount, multi-car, and new graduate.
  • The Hartford may offer discounts for driver training, air bag, anti-theft, vehicle fuel type, defensive driver, and bundle.
  • MetLife offers discounts including defensive driver, good student, claim-free, accident-free, and multi-policy.
  • Progressive offers premium reductions for continuous coverage, multi-vehicle, multi-policy, online signing, online quote discount, good student, and homeowner.

Check with every company which discounts you qualify for. All car insurance discounts may not be offered in your state. If you would like to choose from a list of providers that offer the discounts shown above, enter your zip code here.

Your situation helps dictate your coverage

When it comes to choosing adequate coverage for your personal vehicles, there really is not a perfect coverage plan. Your needs are not the same as everyone else’s so this has to be addressed. For example, these questions can help discover if you might need professional guidance.

  • What is the difference between comprehensive and collision coverage?
  • When should I buy a commercial auto policy?
  • Does my policy cover my teen driver if they drive my company car?
  • Do I need PIP coverage since I have good health insurance?
  • Should I buy only the required minimum liability coverage?
  • Is my trailer covered?
  • Am I covered if I break a side mirror?
  • When should I not file a claim?

If you can’t answer these questions but a few of them apply, you may need to chat with an agent. To find an agent in your area, fill out your zip code.

Insurance coverage basics

Having a good grasp of your policy can be of help when determining which coverages you need and the correct deductibles and limits. Policy terminology can be impossible to understand and nobody wants to actually read their policy. Listed below are the usual coverages available from insurance companies.

Uninsured/Underinsured Motorist (UM/UIM) – Uninsured or Underinsured Motorist coverage protects you and your vehicle when other motorists are uninsured or don’t have enough coverage. This coverage pays for injuries sustained by your vehicle’s occupants as well as damage to your Ford Shelby GT500.

Due to the fact that many drivers have only the minimum liability required by law, their limits can quickly be used up. That’s why carrying high Uninsured/Underinsured Motorist coverage is very important.

Liability coverages – This coverage protects you from damage that occurs to other’s property or people. It protects you against other people’s claims, and doesn’t cover damage sustained by your vehicle in an accident.

Coverage consists of three different limits, bodily injury for each person, bodily injury for the entire accident, and a limit for property damage. You might see values of 25/50/25 that means you have a $25,000 limit per person for injuries, a per accident bodily injury limit of $50,000, and property damage coverage for $25,000.

Liability insurance covers claims such as funeral expenses, court costs, bail bonds, attorney fees and pain and suffering. How much liability coverage do you need? That is up to you, but buy as high a limit as you can afford.

Collision coverages – Collision insurance covers 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 such as sideswiping another vehicle, colliding with another moving vehicle and hitting a mailbox. This coverage can be expensive, so analyze the benefit of dropping coverage from vehicles that are older. Another option is to raise the deductible to get cheaper collision coverage.

Med pay and Personal Injury Protection (PIP) – Med pay and PIP coverage pay for expenses like chiropractic care, pain medications and prosthetic devices. They are used to cover expenses not covered by your health insurance policy or if you are not covered by health insurance. Medical payments and PIP cover both the driver and occupants and will also cover if you are hit as a while walking down the street. PIP coverage is only offered in select states and may carry a deductible

Comprehensive insurance – This will pay to fix damage that is not covered by collision coverage. A deductible will apply then your comprehensive coverage will pay.

Comprehensive coverage protects against claims such as theft, a broken windshield, damage from flooding, a tree branch falling on your vehicle and vandalism. The maximum amount your insurance company will pay is the actual cash value, so if the vehicle’s value is low consider dropping full coverage.

Summing up your insurance search

When trying to cut insurance costs, don’t be tempted to skimp on critical coverages to save a buck or two. There are many occasions where drivers have reduced uninsured motorist or liability limits only to regret at claim time that saving that couple of dollars actually costed them tens of thousands. The proper strategy is to buy enough coverage at an affordable rate while not skimping on critical coverages.

We’ve covered a lot of ways to compare 2018 Ford Shelby GT500 insurance car insurance rates online. It’s most important to understand that the more times you quote, the more likely it is that you will get a better rate. Drivers may discover the best car insurance rates are with a small local company. These smaller insurers may cover specific market segments cheaper than the large multi-state companies such as Allstate, GEICO and Progressive.

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