Are you sick of overpaying and want more competitive insurance rates in Lexington, KY? Lexington buyers have many options when searching for affordable Ford Shelby GT350 insurance. You can either waste hours calling around to compare prices or utilize the internet to get rate quotes.
There are more efficient ways to buy insurance so we’re going to tell you the proper way to price shop coverage for a Ford and obtain the cheapest rates from both online companies and Lexington agents.
If you already have coverage or just want to save money, you can follow these tips to get lower rates while maintaining coverages. These techniques will teach you a little about how insurance works and how you can save the most money. Smart shoppers just need to learn the most efficient way to get comparison rates online.
Low Cost companies for Ford Shelby GT350 insurance in Kentucky
The companies shown below can provide price comparisons in Lexington, KY. To find cheaper car insurance in Lexington, we recommend you get prices from several of them in order to get a fair rate comparison.
Lexington car insurance discounts
Some insurance providers don’t list every policy discount in an easy-to-find place, so the list below details some of the more common and also the more inconspicuous credits available to bring down your rates.
- Memberships – Affiliation with a qualifying organization could qualify you for a break when shopping for car insurance.
- Claim-Free Discount – Drivers who don’t have accidents can earn big discounts as opposed to policyholders that have many claims.
- Anti-theft System – Cars with anti-theft systems are stolen less frequently and therefore earn up to a 10% discount.
- First Accident Forgiveness – This one is not really a discount per se, but companies like Progressive, Allstate, and Liberty Mutual will turn a blind eye to one accident before your rates go up so long as you haven’t had any claims before the accident.
- Defensive Driver Discount – Taking a defensive driving course could cut 5% off your bill and easily recoup the cost of the course.
- Low Mileage Discounts – Maintaining low annual mileage could be rewarded with slightly better premium rates than normal.
- Employee of Federal Government – Simply working for the federal government can earn a discount up to 10% with certain companies.
- Discount for Home Ownership – Owning a house in Lexington can earn you a little savings due to the fact that maintaining a home requires a higher level of personal finance.
- Policy Bundle Discount – When you combine your auto and homeowners insurance and insure them with the same company you will save up to 20% and get you cheap Shelby GT350 insurance.
- Passive Restraints – Factory air bags can get savings of up to 25% or more.
One last thing about discounts, most discount credits are not given to your bottom line cost. A few only apply to individual premiums such as liability, collision or medical payments. Just because it seems like having all the discounts means you get insurance for free, that’s just not realistic.
A partial list of companies who may offer these money-saving discounts include:
Before purchasing a policy, check with each company which discounts they offer. Savings might not be available to policyholders in Lexington. To see providers that provide some of the discounts listed above in Kentucky, follow this link.
Comparing prices from local Lexington auto insurance agents
A lot of people still prefer to sit down with an agent and that is OK! Professional agents are trained risk managers and help submit paperwork. The best thing about comparing rate quotes online is the fact that you can find cheap rate quotes but still work with a licensed agent. And buying from local agencies is still important in Lexington.
Upon completion of this short form, your information is submitted to local insurance agents in Lexington that provide free Lexington auto insurance quotes for your insurance coverage. It simplifies rate comparisons since you won’t have to find an agent due to the fact that quote results will go to you. If you have a need to compare prices from a specific insurance company, feel free to search and find their rate quote page and give them your coverage information.
Picking the best provider is decision based upon more than just a cheap quote. The answers to these questions are important, too.
- How long has their agency been open in Lexington?
- Does the company have a local claim office in Lexington?
- Is the agent properly licensed in Kentucky?
- When do they do policy reviews?
- Will the agent or a CSR service your policy?
Insurance coverage breakdown
Understanding the coverages of a insurance policy can be of help when determining the best coverages and proper limits and deductibles. Insurance terms can be confusing and nobody wants to actually read their policy.
Comprehensive (Other than Collision)
This pays to fix your vehicle from damage caused by mother nature, theft, vandalism and other events. You need to pay your deductible first then the remaining damage will be covered by your comprehensive coverage.
Comprehensive insurance covers claims such as theft, vandalism, fire damage and damage from flooding. The most you can receive from a comprehensive claim is the cash value of the vehicle, so if the vehicle’s value is low consider dropping full coverage.
Protection from uninsured/underinsured drivers
This coverage protects you and your vehicle’s occupants from other motorists when they are uninsured or don’t have enough coverage. It can pay for medical payments for you and your occupants as well as damage to your Ford Shelby GT350.
Since a lot of drivers carry very low liability coverage limits (25/50/10 in Kentucky), it only takes a small accident to exceed their coverage. This is the reason having UM/UIM coverage is important protection for you and your family. Frequently your uninsured/underinsured motorist coverages are set the same as your liability limits.
This pays for damage to your Shelby GT350 resulting from colliding with another car or object. You first must pay a deductible and the rest of the damage will be paid by collision coverage.
Collision coverage pays for claims such as colliding with a tree, rolling your car, backing into a parked car, crashing into a ditch and sustaining damage from a pot hole. This coverage can be expensive, so analyze the benefit of dropping coverage from older vehicles. Drivers also have the option to increase the deductible on your Shelby GT350 to get cheaper collision coverage.
Medical expense insurance
Coverage for medical payments and/or PIP provide coverage for expenses for doctor visits, EMT expenses, hospital visits, funeral costs and surgery. They can be used to fill the gap from your health insurance program or if you are not covered by health insurance. It covers not only the driver but also the vehicle occupants and also covers if you are hit as a while walking down the street. PIP coverage is not available in all states but it provides additional coverages not offered by medical payments coverage
Coverage for liability
Liability insurance will cover damage or injury you incur to other people or property by causing an accident. This insurance protects YOU against claims from other people, and does not provide coverage for damage sustained by your vehicle in an accident.
Liability coverage has three limits: bodily injury for each person, bodily injury for the entire accident, and a limit for property damage. You commonly see liability limits of 25/50/10 which means $25,000 in coverage for each person’s injuries, a total of $50,000 of bodily injury coverage per accident, and property damage coverage for $10,000. Alternatively, you may have a combined limit which provides one coverage limit and claims can be made without the split limit restrictions.
Liability coverage pays for claims like funeral expenses, repair costs for stationary objects, loss of income, structural damage and legal defense fees. How much liability coverage do you need? That is up to you, but it’s cheap coverage so purchase as much as you can afford. Kentucky state law requires minimum liability limits of 25/50/10 but drivers should carry better liability coverage.
The next chart demonstrates why minimum state limits may not be high enough to cover claims.
Persistence pays off
In this article, we presented a lot of information how to get a better price on Ford Shelby GT350 insurance in Lexington. The key concept to understand is the more rate comparisons you have, the better your comparison will be. Consumers could even find that the lowest priced auto insurance comes from a smaller regional carrier.
As you go through the steps to switch your coverage, never buy lower coverage limits just to save a few bucks. There are many occasions where drivers have reduced full coverage and discovered at claim time that a couple dollars of savings turned into a financial nightmare. Your objective should be to buy a smart amount of coverage at the best cost, but don’t skip important coverages to save money.
Consumers who switch companies do it for a number of reasons such as policy cancellation, an unsatisfactory settlement offer, delays in responding to claim requests or even high prices. It doesn’t matter what your reason, choosing a new company is pretty easy and you might even save some money in the process.
Steps to finding better rates for Ford Shelby GT350 insurance in Lexington
Really, the only way to find affordable quotes for auto insurance rates in Lexington is to make a habit of regularly comparing prices from insurers who provide car insurance in Kentucky. Rates can be compared by following these steps.
- First, spend some time learning about how insurance companies determine prices and the measures you can control to keep rates in check. Many rating factors that cause high rates such as high-risk driving behaviors and an imperfect credit rating can be controlled by making minor changes in your lifestyle.
- Second, compare prices from direct carriers, independent agents, and exclusive agents. Exclusive and direct companies can provide rates from a single company like Progressive or Allstate, while independent agents can provide price quotes for a wide range of companies.
- Third, compare the new rates to your existing policy and see if there is a cheaper rate. If you find a lower rate quote and buy the policy, ensure there is no coverage lapse between policies.
- Fourth, give notification to your agent or company to cancel your current car insurance policy. Submit payment and a signed application to the new company. As soon as you can, safely store the proof of insurance paperwork with the vehicle registration.
The key thing to know about shopping around is to try to compare similar limits and deductibles on every quote request and and to get price estimates from as many auto insurance providers as possible. This guarantees a fair price comparison and the best price selection.
Even more information can be read at these sites:
- How to shop for a safer car (Insurance Institute for Highway Safety)
- Who Has the Cheapest Lexington Car Insurance Rates for Retired Military? (FAQ)
- Think You’re a Safe Driver? (State Farm)
- Protect Yourself Against Auto Theft (Insurance Information Institute)