Searching for the cheapest car insurance rates for your Ford Shelby GT500? Are you irritated from scraping the payment together to pay your car insurance bill each month? You have the same problem as most other consumers.
Multiple insurers compete to insure your vehicles, so it’s not easy to compare every insurance company to find the lowest rate
There are a lot of ways you can shop for car insurance and some are less labor-intensive and much quicker. You can waste a few hours (or days) talking to insurance agencies in your area, or you could save time and use the web to get rate comparisons in just a few minutes.
Most of the larger companies participate in an industry program where insurance shoppers enter their coverage request one time, and at least one company returns a competitive quote. This prevents consumers from doing quotation requests to each company. To use this form to compare rates click here to start a free quote.
One minor caviat to doing it this way is buyers cannot specifically choose the insurers to receive prices from. If you would rather choose specific providers for rate comparison, we have a listing of companies who write car insurance in your area. Click here for list of insurance companies.
Whichever way you choose to compare rates, be sure you’re using the exact same coverage information for each comparison quote. If each company quotes unequal deductibles or liability limits you will not be able to get a fair rate comparison. Just slight variations in coverages can make a big difference in price. It’s important to know that comparing a large number of companies will enable you to find the best offered rates. Some companies don’t provide rate quotes online, so it’s important to also get price estimates from the smaller companies as well.
When buying coverage for your personal vehicles, there is no “best” method to buy coverage. Everyone’s situation is unique so your insurance needs to address that. For example, these questions could help you determine whether you might need an agent’s assistance.
If you’re not sure about those questions, you may need to chat with an agent. If you want to speak to an agent in your area, fill out this quick form or click here for a list of insurance coverage companies in your area.
Knowing the specifics of a auto insurance policy can be of help when determining which coverages you need and the correct deductibles and limits. Auto insurance terms can be confusing and coverage can change by endorsement. Shown next are typical coverage types available from auto insurance companies.
Comprehensive auto coverage
This coverage will pay to fix damage from a wide range of events other than collision. You first must pay your deductible then your comprehensive coverage will pay.
Comprehensive coverage pays for things like falling objects, hail damage, damage from getting keyed, hitting a deer and damage from a tornado or hurricane. The maximum payout a auto insurance company will pay at claim time is the ACV or actual cash value, so if your deductible is as high as the vehicle’s value it’s not worth carrying full coverage.
Collision coverage protection
This coverage covers damage to your Shelby GT500 from colliding with another vehicle or an object, but not an animal. You first must pay a deductible and the rest of the damage will be paid by collision coverage.
Collision insurance covers claims such as hitting a mailbox, driving through your garage door, colliding with another moving vehicle and sustaining damage from a pot hole. Collision coverage makes up a good portion of your premium, so consider dropping it from lower value vehicles. Drivers also have the option to raise the deductible to bring the cost down.
UM/UIM (Uninsured/Underinsured Motorist) coverage
Uninsured or Underinsured Motorist coverage provides protection when the “other guys” are uninsured or don’t have enough coverage. Covered losses include injuries sustained by your vehicle’s occupants and damage to your Ford Shelby GT500.
Because many people carry very low liability coverage limits, their limits can quickly be used up. For this reason, having high UM/UIM coverages should not be overlooked.
Medical payments and PIP coverage
Medical payments and Personal Injury Protection insurance provide coverage for bills such as pain medications, funeral costs, hospital visits and EMT expenses. The coverages can be used in conjunction with a health insurance policy or if there is no health insurance coverage. They cover you and your occupants and will also cover if you are hit as a while walking down the street. Personal Injury Protection is not an option in every state but it provides additional coverages not offered by medical payments coverage
This coverage can cover injuries or damage you cause to other people or property that is your fault. This insurance protects YOU from claims by other people, and does not provide coverage for damage sustained by your vehicle in an accident.
It consists of three limits, bodily injury for each person injured, bodily injury for the entire accident and a property damage limit. Your policy might show liability limits of 25/50/25 which means $25,000 in coverage for each person’s injuries, a limit of $50,000 in injury protection per accident, and property damage coverage for $25,000.
Liability can pay for claims like emergency aid, structural damage and court costs. How much liability coverage do you need? That is a personal decision, but you should buy as much as you can afford.