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INSURANCE


dsc28
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Supposed to pick up my 11sgt tomorrow anybody get insurance prices or even ballpark figures. I have a feeling it will be really high.

 

 

Here in MA it's around $900 year "1500 for 2 cars" and I have a perfect driving record I'm sure it's going to vary depending on your age, location and driving history.

Edited by tpenziner
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20 year accident free (I'm 46), two other cars and homeowner with state farm, 6000 miles a year pleasure use only - 522.00 a year 250/250 deductable.

 

That varies greatly depending where you live of course, if I lived 25 miles south of here it would be almost double that.

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You might be surprised, my 2010 GT500 was cheaper to insure than my 2007 Shelby GT. Everything remained the same, just changed cars. I couldn't believe it myself. It was the same thing when I traded our 2007 loaded Subaru Tribeca SUV for our 2009 F-150 Platinum which was approx 15k more in value, the insurance was less. :headscratch: I expected more $$$ each time.

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You might be surprised, my 2010 GT500 was cheaper to insure than my 2007 Shelby GT.

 

 

 

The 2010 has a 5-star crash rating. The fist Mustang to get 5 stars.

 

 

Phill

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As my 2nd car, I pay about $560.00 a year for the Shelby, and 1-2 hundred more for my work truck. I don't have a clean driving record by far, but I do defensive driving every 3 years and turn that receipt in to my insurance USAA for a 10% deduct.

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The nice thing about the GT 500, when an insurance company runs the Vin# to get the rate scale, it just shows up as a "Mustang". So no premium increases for a high performance car like other models. :happy feet:

 

I'd be careful of this though. Through my insurer, Progressive, when obtaining a quote through their online service it has GT500 as a specific vehicle. I don't argue with what you said but my fear would be that if you don't tell them it's a gt500 and you have to make a claim down the line and they come out to look at the car and see it's not a plain Mustang but a gt500 they might refuse to cover it. But for me, a gt500 ran an extra 560 dollars per year with less than 6k allowed per annum.

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The nice thing about the GT 500, when an insurance company runs the Vin# to get the rate scale, it just shows up as a "Mustang". So no premium increases for a high performance car like other models. :happy feet:

 

 

When State Farm ran the VIN on mine over the phone it came up as a GT500 convertible, I assume something in the VIN denotes GT500. If not they are very good guessers considering they never seen the car.

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When State Farm ran the VIN on mine over the phone it came up as a GT500 convertible, I assume something in the VIN denotes GT500. If not they are very good guessers considering they never seen the car.

 

 

When I got a quote from Geico it asked for the VIN and it came back as a MUSTANG, not a GT500.

 

If you give them the VIN and get in a wreck, they can't claim they didn't know it was a GT500 or something like that. The VIN is the VIN and they charge by that.

 

 

Phill

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The nice thing about the GT 500, when an insurance company runs the Vin# to get the rate scale, it just shows up as a "Mustang". So no premium increases for a high performance car like other models. :happy feet:

 

 

That is really odd. Because everywhere I am calling today for quotes is saying the VIN is telling them its a high performance car, so there is a premium increase. All my quotes are around $150 per month, $1,800 for the year. 27 years old living in Minneapolis, Minnesota. Mostly clean record with two speeding tickets that are over a year old.

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When I got a quote from Geico it asked for the VIN and it came back as a MUSTANG, not a GT500.

 

If you give them the VIN and get in a wreck, they can't claim they didn't know it was a GT500 or something like that. The VIN is the VIN and they charge by that.

 

 

Phill

 

But don't you find it odd that other insurers are receiving the VIN and noting it's a gt500? I'd be careful.

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That is really odd. Because everywhere I am calling today for quotes is saying the VIN is telling them its a high performance car, so there is a premium increase. All my quotes are around $150 per month, $1,800 for the year. 27 years old living in Minneapolis, Minnesota. Mostly clean record with two speeding tickets that are over a year old.

 

 

I think mine is only $400 a year. Maybe that's every 6 mos, I'll have to check. And that's for full coverage (100/100/300) with a $1000 deductable, multi car discount, 54 years old, married, clean driving record and been drivnig since I was 16. And they have my wife as a driver even though she can't drive a stick (nor will I let her drive my Shelby).

 

I was surprised it was that low. And the difference between a low ($250-$500) deductable and the $1000 I carry isn't that much....until you add it up and spread it over 6 vehicles (which is why I go with $1K vs $250 or $500).

 

Oh yeah, I declined Road Service on the Shelby (it comes with it from Ford) but I have it on my other cars (GMC pick-up and MBZ ML-320 SUV)...and I think I have it on both of my Harley-Davidson's too (but I *might* not have it on the H-D's).

 

And just FYI, they don't count my Motorcycles as "vehicles" when I get my multi vehicle discount. They are both on a different policy with each other so it's just my cars/truck.

 

 

Phill

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But don't you find it odd that other insurers are receiving the VIN and noting it's a gt500? I'd be careful.

 

 

 

It's easy enough to check, I can just call my agent.

 

I'm thinkin' about changing Ins. Co.'s anyway. The put the screws to me on my Harley's. If I want $300K UM, it's something like $600 a year MORE. Right now I only have $25K UM and you can eat that up with the ambulance ride to the hospital...and if you get in a accident on a MC, you WILL get hurt. Not much doubt about that. It's only a matter of HOW hurt you get so I'm hesitant to ride too much around here. With the weather bad for 6-8 mos out of the year, I don't ride nearly as much as I did when I lived in Cali anyway.

 

Still....time to look around for Ins. I feel comfortable with.

 

 

Thanks for the concern,

Phill

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That is really odd. Because everywhere I am calling today for quotes is saying the VIN is telling them its a high performance car, so there is a premium increase. All my quotes are around $150 per month, $1,800 for the year. 27 years old living in Minneapolis, Minnesota. Mostly clean record with two speeding tickets that are over a year old.

 

 

 

They can tell right away by the engine code in the VIN, no other mstang comes with a 5.4.

 

If you give them the VIN then they should know what car it is just by the engine alone..

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I received my GT500 production certificate from Ford Performance Group and SVT last Friday. Included is a 2010 / 2011 Shelby GT500 VIN Decoder sheet. According to the sheet, "P8J" denotes a Shelby GT500 coupe and "P8K" denotes a Shelby GT500 convertible. Also, the letter "S" after that grouping denotes the 5.4L SC DOHC V-8. Therefore, the VIN number definitely states what kind of car it is.

 

I'm insured with State Farm also. I got a quote from my agent before I bought the car, then set up the insurance coverage before I took possession of the car. When they typed up my temporary "proof of insurance" card, it stated that the car was a "2010 Shelby GT500". When I received my official proof of insurance card about a week later in the mail, it said the car is a 2010 Ford Mustang (I verified that the VIN was correct.) I keep the temporary card in a safe just in case I have to prove someday that I told the insurance company that its a Shelby.

 

When I got the car about 6 months ago, I was quoted $840 per year for full coverage. I'm 47, single and have no tickets, etc. I also have 3 other vehicles and my house insured with them, so I get a discount for all that. Just this month, I got a note from the insurance company that there had been a rate change on my car. It actually went down $60 per year! So now I'm paying $780 per year.

 

Aside from possibly classifying the car differently because of performance, my insurance agent told me that they determine the rates based on how much money they have to pay out on claims on each make and model of vehicle (along with engine size, age & driving history of driver(s), etc.) I guess this means they haven't had to pay out much to repair GT500s yet.

Edited by tturner770
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I received my GT500 production certificate from Ford Performance Group and SVT last Friday. Included is a 2010 / 2011 Shelby GT500 VIN Decoder sheet. According to the sheet, "P8J" denotes a Shelby GT500 coupe and "P8K" denotes a Shelby GT500 convertible. Also, the letter "S" after that grouping denotes the 5.4L SC DOHC V-8. Therefore, the VIN number definitely states what kind of car it is.

 

I'm insured with State Farm also. I got a quote from my agent before I bought the car, then set up the insurance coverage before I took possession of the car. When they typed up my temporary "proof of insurance" card, it stated that the car was a "2010 Shelby GT500". When I received my official proof of insurance card about a week later in the mail, it said the car is a 2010 Ford Mustang (I verified that the VIN was correct.) I keep the temporary card in a safe just in case I have to prove someday that I told the insurance company that its a Shelby.

 

When I got the car about 6 months ago, I was quoted $840 per year for full coverage. I'm 47, single and have no tickets, etc. I also have 3 other vehicles and my house insured with them, so I get a discount for all that. Just this month, I got a note from the insurance company that there had been a rate change on my car. It actually went down $60 per year! So now I'm paying $780 per year.

 

Aside from possibly classifying the car differently because of performance, my insurance agent told me that they determine the rates based on how much money they have to pay out on claims on each make and model of vehicle (along with engine size, age & driving history of driver(s), etc.) I guess this means they haven't had to pay out much to repair GT500s yet.

 

 

 

State Farm customer here too, got about the same rate (It was $350 per 6 months) as I have three cars and my homeowners with them, and I'm married. Also got a "permanent" card that said Mustang, though they know it's a Shelby via the VIN. I traded in my 2002 Z06 Corvette and the insurance price for going from the Z06 to the GT500 made the price go up exactly $8 per month, though the Shelby is worth twice what the Corvette was.

 

As my agent told me, most of the premium covers the personal injury liability. Repairing/totalling the car is chicken feed to an insurer. If you slam into someone and injure them, the fact that you hit them with a 2011 Shelby or a 1990 Corolla makes little difference in the resulting multi-hundreds-of-thousand dollar lawsuit......

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They can tell right away by the engine code in the VIN, no other mstang comes with a 5.4.

 

If you give them the VIN then they should know what car it is just by the engine alone..

 

Yes I know, but my point is the system just rates it as a normal 2 door sport sedan and doesn't see it as a "high performance" vehicle. Two different company agents told me the same thing when I questioned them about a performance car. That is also evident by the low rates your seeing here.

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You need to immediately get married, buy a house and get two additional cars to insure with State Farm. Then you'll REALLY be saving money!!

:hysterical:

 

haha! Well I have a home, but my daily is a yukon denali in my companies name. As for the marriage thing....I'll gladly pay the higher insurance premium..... :lol:

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Just picked up my 20ll GT 500 SVT. Insurance is $1400 year with a driving record I'm not proud of, (only one point left :nonono: ), Encompass Insurance. Everyone else was in the $3k to $5k per year. I have to be a good boy behind the wheel for a while. :shift:

 

My first day out in the '11:

Edited by jdaallen
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