How Much Does 2017 Ford Shelby GT500 Insurance Cost 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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Are you drained from scraping the payment together to keep your car insured? You are no different than many other vehicle owners. Vehicle owners have many insurers to insure vehicles with, and although it’s a good thing to be able to choose, it makes it harder to locate the cheapest rates.

More affordable rates with these discounts

Companies offering auto insurance do not advertise every discount in a way that’s easy to find, so the following list contains a few of the more well known as well as some of the hidden credits available to lower your premiums when you buy insurance online.

  • Full Payment Discount – By making one initial payment as opposed to paying monthly you can actually save on your bill.
  • Senior Discount – Older drivers may qualify for a small decrease in premiums on Shelby GT500 coverage.
  • College Student – who are enrolled in higher education away from home and leave their car at home may be able to be covered for less.
  • Discount for Life Insurance – Some insurance carriers give better prices if you take out a life insurance policy as well.
  • Sign Online – A few insurance companies will provide an incentive for completing your application digitally online.
  • Clubs and Organizations – Participating in specific professional or occupational memberships or organizations may earn a discount when getting a insurance quote.
  • Home Ownership Discount – Owning a home can earn you a little savings due to the fact that maintaining a home requires a higher level of personal finance.

A quick disclaimer, many deductions do not apply to the entire cost. Some only reduce specific coverage prices like medical payments or collision. Even though the math looks like it’s possible to get free car insurance, companies wouldn’t make money that way. But any discount will cut your overall bill.

A partial list of companies that may include these discounts include:

  • Progressive
  • American Family
  • MetLife
  • The Hartford

Before you buy a policy, ask every company how you can save money. Some credits may not apply to policies in every state. To see a list of providers with significant discounts, enter your zip code here.

Compare insurance rates

All the larger insurance companies give coverage prices on their websites. Getting online quotes is fairly simple as all you need to do is type in your required coverages as detailed in the form. After you complete the form, their quoting system gets reports for credit and driving violations and returns pricing information. Online price estimates makes it simple to compare prices but the work required to visit many different websites and enter the same data into a form is repetitive and time-consuming. But it’s very important to perform this step in order to get better prices.

The better way to compare rates

A better way to get multiple rate quotes uses one form that analyzes rates from more than one company. It’s a real time-saver, requires much less work on your part, and makes online shopping much easier. Once the form is submitted, it is rated and you can choose any one of the price quotes you receive. If you find a better price you can click and sign and buy the new coverage. The entire process just takes a couple of minutes and you will know how your current rates stack up.

In order to 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 that you enter the insurance coverages just like they are on your policy. Doing this assures you will receive an apples-to-apples comparison for the exact same coverage.

Learn how to lower your insurance costs

Multiple criteria are part of the calculation when you get your auto insurance bill. Some factors are common sense such as your driving history, although others are more transparent like where you live and annual miles driven. Part of the insurance coverage buying process is learning the factors that help calculate your policy premiums. If you have a feel for what influences your rates, this enables informed choices that could result in lower rates.

  • Buy as much liability coverage as you can afford – The liability coverage on your policy provides coverage when you are found to be at fault for causing personal injury or damage in an accident. It provides you with a defense in court to defend your case. It is affordable coverage compared to physical damage coverage, so do not cut corners here.
  • Can a thief steal your car? – Driving a car with anti-theft technology or alarm system can earn a premium discount. Systems that thwart theives such as tamper alarm systems, vehicle immobilizer technology and General Motors OnStar can thwart your vehicle from being stolen.
  • Add-on coverages can add up – There are quite a few extra bells and whistles that can add up if you don’t pay attention. Insurance for replacement cost coverage, accidental death, and membership fees may be costing you every month. You may think they are a good idea initially, but now you might not need them so get rid of them and save.
  • Your career may increase insurance coverage rates – Jobs such as lawyers, executives and accountants tend to pay higher rates than the rest of us in part from high stress levels and extremely grueling work hours. Conversely, jobs like professors, athletes and homemakers generally pay rates lower than average on Shelby GT500 coverage.
  • High claims frequency drives up prices – If you file claims often, you can expect much higher rates or policy non-renewal. Insurance companies give lower rates to policyholders who are not frequent claim filers. Insurance coverage is designed for larger claims.
  • Driver age impacts rates – Young drivers are known to be inattentive when driving with friends and because of this, their insurance coverage rates are much higher. Older drivers are viewed as being more responsible, statistically cause fewer accidents .
  • Choose high crash test ratings and save – Vehicles with good safety scores are cheaper to insure. Vehicles engineered for safety result in less severe injuries and lower rates of occupant injuries means your insurance company pays less and cheaper rates on your policy. If the Ford Shelby GT500 earned at least an “acceptable” rating on the Insurance Institute for Highway Safety website or four stars on the National Highway Traffic Safety Administration website it may cost less to insure.

Insurance can be complex

When it comes to choosing the best insurance coverage for your vehicles, there really is no “best” method to buy coverage. Coverage needs to be tailored to your specific needs so your insurance should reflect that These are some specific questions could help you determine whether or not you would benefit from professional advice.

  • Should I carry comprehensive and collision coverage?
  • Am I covered if my car is in a flood?
  • Should I put collision coverage on all my vehicles?
  • Does coverage extend to Mexico or Canada?
  • Can my teen driver be rated on a liability-only vehicle?
  • I don’t drive much so do I pay less?
  • Is business property covered if stolen from my car?

If it’s difficult to answer those questions then you might want to talk to an agent. To find lower rates from a local agent, take a second and enter your zip code. It only takes a few minutes and can provide invaluable advice.

But the ad said I’d save 15% in 15 minutes!

Drivers can’t get away from all the ads for the lowest price auto insurance by companies like State Farm and Allstate. All the ads make an identical promise about saving some big amount if you just switch your auto insurance coverage to their company.

How does every company make the same claim? Just pay attention to how they say it.

Companies provide the lowest rates for the type of driver that will add to their bottom line. An example of a desirable risk may be over age 30, has other policies, and has a short commute. A prospective insured who matches that profile will get very good car insurance rates and is almost guaranteed to save a lot if they switch.

Potential customers who don’t measure up to these criteria will have to pay higher premiums and business going elsewhere. The trick companies use is to say “people that switch” not “all people who quote” can get the lowest rates when switching. This is how insurance companies can confidently lure you into getting a quote. Because of these techniques, you need to quote coverage with many companies. Because you never know which auto insurance company will have better car insurance rates than you’re paying now.

Coverage specifics

Having a good grasp of a insurance policy helps when choosing appropriate coverage and proper limits and deductibles. The terms used in a policy can be confusing and even agents have difficulty translating policy wording. Listed below are the normal coverages offered by insurance companies.

Comprehensive coverage (or Other than Collision)

This coverage pays to fix your vehicle from damage that is not covered by collision coverage. A deductible will apply and then insurance will cover the rest of the damage.

Comprehensive can pay for things like theft, rock chips in glass, hitting a bird, damage from getting keyed and a tree branch falling on your vehicle. The most you’ll receive from a claim is the actual cash value, so if the vehicle’s value is low it’s probably time to drop comprehensive insurance.

Liability auto insurance

This can cover damages or injuries you inflict on people or other property in an accident. It protects you against other people’s claims. It does not 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 might see liability limits of 25/50/25 that translate to $25,000 in coverage for each person’s injuries, a per accident bodily injury limit of $50,000, and a limit of $25,000 paid for damaged property.

Liability insurance covers claims such as emergency aid, repair bills for other people’s vehicles, attorney fees and loss of income. How much liability should you purchase? That is a personal decision, but it’s cheap coverage so purchase as large an amount as possible.

Insurance for medical payments

Personal Injury Protection (PIP) and medical payments coverage kick in for short-term medical expenses for things like ambulance fees, doctor visits, rehabilitation expenses, surgery and nursing services. They can be used in conjunction with a health insurance plan or if you do not have health coverage. Medical payments and PIP cover not only the driver but also the vehicle occupants and will also cover any family member struck as a pedestrian. PIP is not available in all states and may carry a deductible

Uninsured Motorist or Underinsured Motorist insurance

Uninsured or Underinsured Motorist coverage gives you protection from other motorists when they are uninsured or don’t have enough coverage. Covered claims include injuries sustained by your vehicle’s occupants as well as your vehicle’s damage.

Since a lot of 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 important protection for you and your family.

Collision coverage protection

Collision insurance covers damage to your Shelby GT500 resulting from a collision with a stationary object or other vehicle. A deductible applies then your collision coverage will kick in.

Collision coverage pays for claims such as backing into a parked car, driving through your garage door and hitting a mailbox. Collision is rather expensive coverage, so consider removing coverage from vehicles that are 8 years or older. You can also raise the deductible to get cheaper collision coverage.

More quotes mean more savings

When buying insurance coverage, you should never reduce needed coverages to save money. In many cases, an accident victim reduced full coverage to discover at claim time that saving that couple of dollars actually costed them tens of thousands. Your aim should be to buy a smart amount of coverage at a price you can afford while not skimping on critical coverages.

We’ve covered quite a bit of information on how to get a better price on 2017 Ford Shelby GT500 insurance. It’s most important to understand that the more times you quote, the higher the chance of saving money. You may even discover the best price on car insurance is with a smaller regional carrier. These companies may often insure only within specific states and give getter rates compared to the large companies like Allstate and Progressive.

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