2016 Ford Shelby GT350 Insurance Rates – 8 Savings Tips
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UPDATED: Sep 2, 2022
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If you’re new to shopping for insurance coverage quotes online, it’s easy to get confused thanks to the huge assortment of online companies all claiming to save you money.
It’s important to take a look at other company’s rates as often as possible because insurance rates fluctuate regularly. Just because you had the best rate on Shelby GT350 insurance six months ago the chances are good that you can find a lower price today. Don’t believe everything you read about insurance online, but we’re going to give you some great ideas on how to lower your insurance bill.
Finding affordable coverage is quite easy. If you have car insurance now, you stand a good chance to be able to cut costs considerably using these techniques. But vehicle owners should learn the way companies market on the web and use this information to your advantage.
Which auto insurance is cheapest?
The are a couple different ways to obtain and compare prices from different companies. The simplest method to comparison shop is to use the internet to compare rates. This is very easy and can be done in a couple minutes as outlined below.
- The easiest and least time consuming way to compare a lot of rates at once is an all-inclusive rate comparison click here to open form in new window. This form keeps you from doing repetitive form entry for each company you want a rate for. One form submission gets insurance cost estimates from many national carriers. Just one form and you’re done.
- A more difficult way to analyze rates consists of going to the website for every company you want to comare and fill out a new quote form. For examples sake, we’ll assume you are doing a rate comparison from Farmers, State Farm and Travelers. To get each rate you have to take the time to go to each site and punch in your information repeatedly, which can get old fast.
For a list of links to insurance companies in your area, click here.
- The last method to do your price quoting is calling or driving to and from local insurance agencies. The ability to get quotes online eliminates the middleman unless you want the trained advice of a local agency. Although, it is possible compare the best prices online but still have the advice of a local agent.
It’s your choice how you get your quotes, but ensure you are comparing apples-to-apples deductibles and coverage limits on every quote you get. If the quotes have mixed coverages it will be impossible to determine the lowest rate for your Ford Shelby GT350. Even a minor difference in coverage limits could skew the results. And when comparison shopping, comparing a wide range of rates helps locate lower pricing.
Insurance coverage quotes and discounts
Properly insuring your vehicles can get expensive, but there are discounts available that can dramatically reduce your bill. Larger premium reductions will be automatically applied at the time you complete a quote, but some must be asked for before you get the savings.
- Accident Waiver – Not really a discount, but companies like Allstate, Progressive, and GEICO will turn a blind eye to one accident without getting socked with a rate hike if you are claim-free for a particular time prior to the accident.
- Home Ownership Discount – Owning a house may earn you a small savings since home ownership is proof of financial responsibility.
- Discount for New Cars – Insuring a vehicle that is new can get you a discount because new model year vehicles are generally safer.
- Telematics Discount – Drivers that enable their insurance coverage company to track driving patterns by using a telematics device like Allstate’s Drivewise may get a rate reduction if they show good driving skills.
- Driver Education Discount – Have your child enroll and complete driver’s education in high school.
- Club Memberships – Participating in specific professional or occupational memberships or organizations is a good way to get lower rates on your next insurance coverage statement.
- Discount for Life Insurance – Not every insurance company offers life insurance, but if they do you may earn a lower rate if you buy a life insurance policy as well.
- Pay Now and Pay Less – By paying your entire bill at once instead of monthly or quarterly installments you can actually save on your bill.
Discounts save money, but please remember that most discount credits are not given to all coverage premiums. The majority will only reduce specific coverage prices like medical payments or collision. So even though they make it sound like you would end up receiving a 100% discount, you aren’t that lucky.
Companies that possibly offer these money-saving discounts possibly include:
Double check with each insurance company the best way to save money. Savings might not be available to policyholders in your area. For a list of insurance coverage companies who offer cheap insurance coverage quotes, follow this link.
Situations that may require an agent’s advice
When buying coverage, there really is no cookie cutter policy. Each situation is unique.
Here are some questions about coverages that may help you determine if your insurance needs might need professional guidance.
- What is high-risk coverage and where do I buy it?
- Should I drop comprehensive coverage on older vehicles?
- Do I benefit by insuring my home with the same company?
- How do I file an SR-22 for a DUI in my state?
- How much liability insurance is required?
- What vehicles should carry emergency assistance coverage?
- Is my 2016 Ford Shelby GT350 covered for smoke damage?
- What is the difference between comprehensive and collision coverage?
- What can I do if my company won’t pay a claim?
- Should I buy more coverage than the required minimum liability coverage?
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If it’s difficult to answer those questions, you may need to chat with an agent. To find an agent in your area, fill out this quick form.
Slick advertising tricks that work
Respected companies like Allstate, GEICO and Progressive consistently run television and radio advertisements. They all seem to make the point of big savings just by moving your coverage to them. Is it even possible that every company can save you money? Just pay attention to how they say it.
Most companies have an ideal profile for the type of driver that earns them the most money. For example, a profitable risk profile could be over age 30, has few claims, and drives newer vehicles. A customer that matches those criteria will most likely get cheap premium rates and therefore will save a lot of money.
Consumers who are not a match for those standards may be forced to pay more expensive rates which usually ends up with the customer buying from a different company. The trick companies use is to say “people who switch” not “everybody who quotes” can get the lowest rates when switching. That is how companies can make it sound like they have such great rates. This really drives home the point why you really need to get insurance coverage quotes as often as possible. Because you cannot predict which company will have better prices than you’re paying now.
Insurance coverage basics
Learning about specific coverages of your insurance policy can help you determine which coverages you need and proper limits and deductibles. The terms used in a policy can be ambiguous and coverage can change by endorsement.
Coverage for liability
This will cover damage or injury you incur to a person or their property. It protects you against claims from other people, and doesn’t cover damage to your own property or vehicle.
It consists of three limits, per person bodily injury, per accident bodily injury, and a property damage limit. You might see values of 100/300/100 which stand for a $100,000 limit per person for injuries, a limit of $300,000 in injury protection per accident, and a limit of $100,000 paid for damaged property.
Liability can pay for claims such as legal defense fees, medical expenses, funeral expenses and repair costs for stationary objects. How much coverage you buy is up to you, but you should buy as large an amount as possible.
Comprehensive or Other Than Collision
This coverage will pay to fix damage caused by mother nature, theft, vandalism and other events. You first have to pay a deductible and the remainder of the damage will be paid by comprehensive coverage.
Comprehensive insurance covers things like hitting a bird, hitting a deer and vandalism. The most a insurance company will pay at claim time is the ACV or actual cash value, so if the vehicle’s value is low consider dropping full coverage.
Medical costs insurance
Medical payments and Personal Injury Protection insurance kick in for short-term medical expenses for dental work, EMT expenses, surgery, hospital visits and funeral costs. The coverages can be used to cover expenses not covered by your health insurance policy or if there is no health insurance coverage. Coverage applies to not only the driver but also the vehicle occupants and will also cover any family member struck as a pedestrian. Personal Injury Protection is only offered in select states but it provides additional coverages not offered by medical payments coverage
Your UM/UIM coverage provides protection from other motorists when they either have no liability insurance or not enough. Covered claims include hospital bills for your injuries and damage to your Ford Shelby GT350.
Due to the fact that many drivers only carry the minimum required liability limits, their liability coverage can quickly be exhausted. That’s why carrying high Uninsured/Underinsured Motorist coverage is important protection for you and your family.
This coverage pays to fix your vehicle from damage resulting from a collision with another car or object. A deductible applies and then insurance will cover the remainder.
Collision can pay for claims such as hitting a parking meter, colliding with a tree, backing into a parked car and sustaining damage from a pot hole. Collision coverage makes up a good portion of your premium, so analyze the benefit of dropping coverage from vehicles that are older. It’s also possible to raise the deductible to get cheaper collision coverage.
Saving money makes a lot of cents
Insureds leave their current company for a variety of reasons including lack of trust in their agent, questionable increases in premium, not issuing a premium refund or extreme rates for teen drivers. It doesn’t matter why you want to switch finding a new insurance company is pretty simple and you could end up saving a buck or two.
Some insurance companies don’t offer online price quotes and usually these smaller companies only sell coverage through independent insurance agencies. Lower-priced 2016 Ford Shelby GT350 insurance can be sourced on the web and from local agencies, so you should be comparing quotes from both to get a complete price analysis.
When buying insurance coverage, do not reduce needed coverages to save money. There are many occasions where drivers have reduced liability coverage limits and discovered at claim time that their decision to reduce coverage ended up costing them more. The aim is to purchase plenty of coverage at a price you can afford while not skimping on critical coverages.
Helpful learning opportunities
- Safety Belts FAQ (iihs.org)
- Teen Driving Statistics (iihs.org)
- Avoiding Deer Collisions (Insurance Information Insitute)
- Frontal Crash Tests (iihs.org)
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