Cheap 2013 Ford Shelby GT500 Insurance Rates in 2024

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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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Searching for lower insurance rates for your Ford Shelby GT500? Wish you could get out of an overpriced insurance policy? Believe me when I say many drivers have buyer’s remorse.

Lots of insurance companies contend for your business, and it can be difficult to compare rates and get the best coverage at the cheapest price

Compare quotes for auto insurance

Many insurance companies allow consumers to get price estimates directly from their websites. Obtaining pricing is pretty painless as you just type in into the quote form. Once entered, the quote system pulls your driving and credit reports and returns pricing information based on many factors. Being able to quote online makes it simple to compare prices but the time it takes to visit many different websites and type in your information is repetitive and time-consuming. But it’s necessary to get many rate quotes if you are searching for better prices.

A quicker way to compare auto insurance pricing makes use of a single form to return rates from multiple companies. It saves time, reduces the work, and makes comparison shopping a little more enjoyable. Immediately after submitting the form, it is quoted and you are able to buy your choice of the price quotes you receive. If the quotes result in lower rates, you can simply submit the application and purchase coverage. This process takes just a few minutes to complete and could lower your rates considerably.

To quickly find out how much you’re overpaying now, simply enter your zip code here and submit your coverage information. If you have coverage now, it’s recommended you complete the form with the limits and deductibles identical to your current policy. This helps ensure you will get rate quotes based on identical coverages.

Is there truth in advertising?

Big name companies like Progressive, GEICO, Allstate and State Farm seem to constantly run ads on TV and radio. All the companies seem to make the promise about how much you will save just by switching your coverage to them. How can each company make the same claim? You have to listen carefully.

Most companies can use profiling for the type of driver that will not have excessive claims. One example of a desirable insured might have to be a married male, has a low-risk occupation, and drives less than 10,000 miles a year. A customer getting a price quote that hits that “sweet spot” gets the lowest car insurance rates and as a result will probably pay quite a bit less when switching companies.

Consumers who may not quite match these stringent criteria will have to pay higher rates which usually ends up with the customer buying from a different company. The wording the ads use say “drivers that switch” not “everybody who quotes” save that much. This is how companies can truthfully make the claims of big savings. Because every company is different, you need to do a quote comparison often. It’s not possible to predict which insurance companies will give you lower prices than your current company.

How insurers calculate Ford Shelby GT500 insurance rates

When buying insurance it’s important to understand some of the elements that help calculate the level of your policy premiums. When you understand what determines base rates, this allows you to make educated decisions that will entitle you to lower premium levels.

Shown below are some of the most rate-impacting factors used by your company to calculate your premiums.

  • Eliminate add-on coverages – Insurance policies have a lot of additional coverages that you can get tricked into buying but may not be useful. Insurance for coverage for rental cars, accident forgiveness, and Farm Bureau memberships are some examples. They may seem good at first, but your money might be better spent on other coverage so get rid of them and save.
  • Good credit means lower premiums – A driver’s credit history can be an important factor in calculating your premium rate. Therefore, if your credit rating is lower than you’d like, you could be paying less to insure your 2013 Ford Shelby GT500 by improving your rating. People that have high credit scores tend to file fewer claims than those with lower ratings.
  • Teenage drivers pay more – Youthful drivers tend to be inattentive when at the wheel of a vehicle so they pay higher insurance rates. Adding a inexperienced driver to your insurance policy can increase premiums substantially. Older drivers are viewed as being more responsible, tend to cause fewer accidents .
  • An active insurance claims history can cost you more – Companies provide lower rates to policyholders who do not rely on their insurance for small claims. If you are the type of insured that files lots of claims you can pretty much guarantee either a policy non-renewal or much higher rates. Auto insurance is intended to be relied upon for claims that you cannot pay yourself.
  • Safer vehicles means better insurance rates – Cars with high safety ratings are cheaper to insure. Vehicles built for safety reduce injuries and lower rates of occupant injuries translates into savings for insurance companies passed on to you as lower rates.
  • See if your company offers a multi-policy discount – Most major insurance companies afford better rates to insureds that have more than one policy such as combining an auto and homeowners policy. Even with this discount applied, drivers will still want to get quotes from other companies to confirm you are receiving the best rates possible.

These discounts can cut car insurance rates

Car insurance can be pricey, but there’s a good chance there are discounts that may help make it more affordable. Certain credits will be shown at quote time, but a few must be specifically requested before they will apply.

  • Anti-lock Brakes – Cars, trucks, and SUVs with ABS and/or traction control are much safer to drive and therefore earn up to a 10% discount.
  • Defensive Driver – Taking part in a defensive driver class could save 5% or more if your company offers it.
  • Smart Student Discounts – Being a good student may save you up to 25%. The discount lasts up to age 25.
  • No Accidents – Insureds who avoid accidents and claims can save substantially when compared to drivers with a long claim history.
  • Paperless Signup – Many companies give back up to $50 for buying your policy on their website.
  • Resident Student – Youth drivers who attend college more than 100 miles from home and won’t have access to an insured vehicle can receive lower rates.
  • Save over 55 – Seniors are able to get better car insurance rates on Shelby GT500 coverage.
  • Fewer Miles Equal More Savings – Keeping the miles down on your Ford could qualify for better rates on cars that stay parked.
  • Military Discounts – Having a deployed family member could be rewarded with lower rates.

One last thing about discounts, some of the credits will not apply to the whole policy. A few only apply to specific coverage prices like collision or personal injury protection. So despite the fact that it appears you can get free auto insurance, you won’t be that lucky. But any discount will help reduce your overall bill.

The best car insurance companies and their possible discounts can be found below.

  • State Farm may have discounts that include multiple autos, defensive driving training, anti-theft, multiple policy, good driver, driver’s education, and good student.
  • GEICO has discounts for emergency military deployment, daytime running lights, defensive driver, multi-policy, and seat belt use.
  • SAFECO includes discounts for homeowner, accident prevention training, teen safe driver, anti-theft, and bundle discounts.
  • Farmers Insurance discounts include alternative fuel, business and professional, teen driver, multi-car, electronic funds transfer, and bundle discounts.
  • AAA offers premium reductions for multi-car, good student, pay-in-full, multi-policy, and AAA membership discount.
  • USAA offers discounts for loyalty savings, good student, driver training, defensive driver, vehicle storage, and safe driver.

It’s a good idea to ask each company or agent to apply every possible discount. A few discounts might not be available to policyholders in your area.

When do I need an agent’s advice?

When choosing the right insurance coverage, there really is no one size fits all plan. Every situation is different so your insurance needs to address that. Here are some questions about coverages that might help in determining if you might need an agent’s assistance.

  • Should I have combined single limit or split liability limits?
  • Is Motor Club coverage worth it?
  • Do I pay less for low miles?
  • Should I put collision coverage on all my vehicles?
  • Am I covered when driving in Canada or Mexico?
  • Am I covered if I hit a deer?
  • When would I need additional glass coverage?
  • Is my Ford Shelby GT500 covered if I use it for business?

If you can’t answer these questions but a few of them apply, you might consider talking to an agent. To find lower rates from a local agent, complete your zip code.

Insurance policy specifics

Knowing the specifics of a insurance policy aids in choosing which coverages you need for your vehicles. Policy terminology can be difficult to understand and coverage can change by endorsement. Shown next are typical coverage types found on the average insurance policy.

Comprehensive coverages

Comprehensive insurance coverage pays for damage OTHER than collision with another vehicle or object. A deductible will apply and the remainder of the damage will be paid by comprehensive coverage.

Comprehensive coverage pays for claims like rock chips in glass, damage from flooding and fire damage. The most a insurance company will pay at claim time is the cash value of the vehicle, so if it’s not worth much more than your deductible consider dropping full coverage.

Liability car insurance

Liability insurance protects you from damages or injuries you inflict on other’s property or people. This insurance protects YOU against other people’s claims, and doesn’t cover damage to your own property or vehicle.

It consists of three limits, bodily injury per person, bodily injury per accident and property damage. You commonly see limits of 25/50/25 which means $25,000 bodily injury coverage, a limit of $50,000 in injury protection per accident, and a total limit of $25,000 for damage to vehicles and property.

Liability insurance covers things such as court costs, attorney fees, medical services, repair costs for stationary objects and funeral expenses. How much liability coverage do you need? That is up to you, but consider buying as large an amount as possible.

Uninsured and underinsured coverage

Uninsured or Underinsured Motorist coverage provides protection from other motorists when they either have no liability insurance or not enough. Covered losses include hospital bills for your injuries as well as your vehicle’s damage.

Because many people only purchase the least amount of liability that is required, it only takes a small accident to exceed their coverage. This is the reason having UM/UIM coverage is a good idea.

Collision coverage

This will pay to fix damage to your Shelby GT500 from colliding with another car or object. You first must pay a deductible then the remaining damage will be paid by your insurance company.

Collision coverage protects against things such as sideswiping another vehicle, backing into a parked car and sustaining damage from a pot hole. Collision is rather expensive coverage, so consider removing coverage from vehicles that are 8 years or older. Drivers also have the option to bump up the deductible to save money on collision insurance.

Coverage for medical payments

Med pay and PIP coverage kick in for short-term medical expenses for things like dental work, prosthetic devices, nursing services, hospital visits and ambulance fees. They are often used in conjunction with a health insurance policy or if there is no health insurance coverage. They cover all vehicle occupants and also covers being hit by a car walking across the street. PIP is not universally available but it provides additional coverages not offered by medical payments coverage

Saving money is sweet as honey

While you’re price shopping online, never buy poor coverage just to save money. In many cases, an insured cut liability limits or collision coverage only to discover later that they should have had better coverage. Your aim should be to buy a smart amount of coverage for the lowest cost, not the least amount of coverage.

More affordable auto insurance is attainable on the web and with local insurance agents, so get free insurance quotes from both of them so you have a total pricing picture. Some companies do not provide online price quotes and these small, regional companies sell through independent insurance agencies.

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