Cheapest 2018 Ford Shelby GT350 Insurance Rates in 2023
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UPDATED: Nov 25, 2019
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Searching for lower auto insurance rates for your Ford Shelby GT350? Did you fall for a flashy sales pitch and buy an expensive auto insurance policy? Say no more because many drivers have buyer’s remorse. Because there are so many different company options, it’s nearly impossible to choose a more affordable insurer.
Four tips to get more affordable insurance prices
Lots of things are considered when pricing auto insurance. Most are fairly basic like a motor vehicle report, but others are more obscure such as your marital status or your financial responsibility.A large part of saving on auto insurance is knowing the different types of things that come into play when calculating your policy premiums. When consumers understand what influences your rates, this allows you to make good choices that may result in much lower annual insurance costs.
- Better premiums with anti-theft devices – Selecting a car model with an alarm system can help lower your rates. Anti-theft features like LoJack tracking devices, vehicle tamper alarm systems or GM’s OnStar system can thwart vehicle theft.
- Younger drivers pay higher costs – Teenage drivers are statistically shown to be inattentive when driving with friends and because of this, their auto insurance rates are much higher. If you’ve ever had to add a young driver onto your auto insurance can be quite pricey. More experienced drivers are more cautious drivers, cost insurance companies less in claims and tend to be get fewer driving tickets.
- Long commutes cost more – The more you drive in a year’s time the higher your rates will be. The majority of insurers apply a rate based on how the vehicle is used. Cars that sit idle most of the time receive better premium rates than vehicles that have high annual mileage. Having the wrong rating on your Shelby GT350 is throwing money out the window. Double check that your auto insurance policy states the correct usage.
- Costs may be higher where you live – Having an address in less populated areas of the country can be a good thing when buying auto insurance. Urban drivers have more traffic problems and more time behind the wheel. Fewer people means less chance of accidents as well as less vandalism and auto theft.
Get lower rates by taking advantage of discounts
Auto insurance companies do not list all possible discounts in an easy-to-find place, so the list below details some of the more common and also the lesser-known savings tricks you should be using when you buy auto insurance online.
- Professional Memberships – Belonging to a professional or civic organization could earn you a nice discount on your next renewal.
- Government Employees – Active or retired federal employment can save as much as 8% on Shelby GT350 coverage with certain companies.
- Mature Driver Discount – Drivers over the age of 55 could receive reduced rates on Shelby GT350 coverage.
- Safety Restraint Discount – Drivers who require all occupants to buckle up before driving can save up to 15% off the medical payments premium.
- Defensive Driver Discount – Taking time to complete a course teaching safe driver skills could earn you a small percentage discount if you qualify.
- Auto/Life Discount – Larger insurance companies have lower insurancerates if you buy life insurance from them.
- Accident Forgiveness – This one is not really a discount per se, but certain companies will let one accident slide without raising rates with the catch being you have to be claim-free for a specific time period.
- Military Rewards – Being on active duty in the military could mean lower prices.
- More Vehicles More Savings – Insuring multiple cars or trucks with the same insurance company qualifies for this discount.
While discounts sound great, it’s important to understand that most discount credits are not given to the entire policy premium. Some only reduce the cost of specific coverages such as medical payments or collision. Even though the math looks like adding up those discounts means a free policy, it just doesn’t work that way.
A few of the larger companies and a selection of discounts are shown below.
- Progressive has discounts for good student, homeowner, online quote discount, continuous coverage, multi-policy, online signing, and multi-vehicle.
- The Hartford offers discounts including good student, defensive driver, driver training, air bag, vehicle fuel type, and anti-theft.
- Mercury Insurance may have discounts that include type of vehicle, anti-theft, professional/association, ease of repair, accident-free, multi-policy, and location of vehicle.
- GEICO offers discounts for air bags, anti-lock brakes, anti-theft, five-year accident-free, seat belt use, and military active duty.
- AAA offers premium reductions for multi-policy, anti-theft, pay-in-full, education and occupation, multi-car, and good driver.
- State Farm policyholders can earn discounts including anti-theft, accident-free, good student, passive restraint, Drive Safe & Save, and driver’s education.
When comparing rates, check with every company to give you their best rates. Some of the earlier mentioned discounts might not apply in every state.
The ad said I’d save $479 a year!
Consumers constantly see and hear ads for auto insurance savings from companies such as Progressive, Allstate and GEICO. All the ads have a common claim that people will save just by switching your auto insurance policy to them.
How does every company save you money? It’s all in the wording.
All companies have an ideal profile for the type of driver that earns them the most money. One example of a desirable risk might be described as a mature driver, has no tickets, and drives a vehicle with a low ISO rating. A driver who matches those parameters will probably get the lowest rates as well as cut their rates substantially.
Potential insureds who fall outside the ideal profile will get higher premium rates which translates to the customer not purchasing. The wording the ads use say “people who switch” not “everyone who quotes” save that much. That’s the way insurance companies can confidently make it sound like they have such great car insurance rates. Because of the profiling, drivers must get price quotes at each policy renewal. It’s not possible to predict with any certainty which company will provide you with the cheapest rates.
How much auto insurance do I need?
When it comes to buying coverage for your personal vehicles, there really is not a single plan that fits everyone. Every situation is different so this has to be addressed. For example, these questions might point out if your situation would benefit from an agent’s advice.
- Where can I find high-risk insurance?
- Do I get a pro-rated refund if I cancel my policy early?
- Will filing a claim cost me more?
- Will my insurance pay for OEM parts?
- Am I covered if I hit my neighbor’s mailbox?
- Is there coverage for injuries to my pets?
- Is my 2018 Ford Shelby GT350 covered for smoke damage?
- Does my liability insurance cover pulling a trailer or camper?
- How can I find cheaper teen driver insurance?
If you’re not sure about those questions but one or more may apply to you, then you may want to think about talking to a licensed insurance agent. If you don’t have a local agent, take a second and complete this form or you can go here for a list of companies in your area. It is quick, free and can help protect your family.
Car insurance 101
Understanding the coverages of a auto insurance policy can be of help when determining which coverages you need for your vehicles. The coverage terms in a policy can be impossible to understand and nobody wants to actually read their policy. Shown next are typical coverage types offered by auto insurance companies.
Liability auto insurance
Liability coverage will cover damage or injury you incur to a person or their property in an accident. This coverage protects you from legal claims by others. Liability doesn’t cover damage to your own property or vehicle.
Liability coverage has three limits: per person bodily injury, per accident bodily injury, and a property damage limit. You commonly see limits of 50/100/50 that means you have a limit of $50,000 per injured person, $100,000 for the entire accident, and property damage coverage for $50,000.
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Liability insurance covers claims like repair costs for stationary objects, attorney fees, pain and suffering, legal defense fees and funeral expenses. How much coverage you buy is up to you, but you should buy as much as you can afford.
Medical expense insurance
Medical payments and Personal Injury Protection insurance provide coverage for short-term medical expenses like rehabilitation expenses, prosthetic devices, dental work and doctor visits. The coverages can be used to cover expenses not covered by your health insurance policy or if you lack health insurance entirely. It covers both the driver and occupants and also covers getting struck while a pedestrian. Personal injury protection coverage is not universally available and may carry a deductible
Protection from uninsured/underinsured drivers
This protects you and your vehicle from other drivers when they do not carry enough liability coverage. This coverage pays for injuries sustained by your vehicle’s occupants and also any damage incurred to your Ford Shelby GT350.
Since a lot of 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 will pay to fix damage to your Shelby GT350 resulting from colliding with an object or car. You will need to pay your deductible and the rest of the damage will be paid by collision coverage.
Collision coverage protects against claims such as crashing into a building, colliding with another moving vehicle, sideswiping another vehicle, scraping a guard rail and sustaining damage from a pot hole. This coverage can be expensive, so consider dropping it from older vehicles. It’s also possible to increase the deductible to save money on collision insurance.
Comprehensive (Other than Collision)
Comprehensive insurance coverage covers damage from a wide range of events other than collision. A deductible will apply then the remaining damage will be covered by your comprehensive coverage.
Comprehensive insurance covers things like a tree branch falling on your vehicle, falling objects, rock chips in glass, a broken windshield and fire damage. The maximum amount a auto insurance company will pay at claim time is the actual cash value, so if the vehicle’s value is low consider removing comprehensive coverage.
Make a quick buck
We just presented a lot of information how to reduce 2018 Ford Shelby GT350 insurance premium rates online. The most important thing to understand is the more rate quotes you have, the better your comparison will be. You may even find the lowest premium rates are with a company that doesn’t do a lot of advertising. Smaller companies may only write in your state and offer lower prices as compared to the big name companies such as State Farm, GEICO and Nationwide.
Budget-conscious 2018 Ford Shelby GT350 insurance can be sourced online and also from your neighborhood agents, so you should be comparing quotes from both to get a complete price analysis. Some companies may not offer rate quotes online and most of the time these smaller providers only sell coverage through independent agencies.
Use our FREE quote tool to compare rates now!
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