2020 GT500 Insurance

[RapidResponder]

In anticipation of actually receiving the 2020 Shelby GT500, I have reached out to my long time Safeco Insurance agent. I am a very good customer on many levels. My agent

claims to be very familiar with classic and performance vehicles and represents other performance car insurers such as Hagerty and others.​

What I am initially seeing is as follows:

60 years+
3 additional vehicles

2020 Shelby GT500 Fastback
Full Coverage, Agreed Value
Classic - Restricted at 2500 miles per year
$1526.60 per year

+$800 per year will get me daily driver status, which is not what I plan for the vehicle in the Pacific Northwest. I do live in an urban environment and I am sure that makes a difference compared to other parts of the country.

First question: What is your shared experience? Am I in the ballpark? Recommendations?

Second question: What If I want to track this Shelby for an occasional day or three? Am I flying solo?

Thanks for your recommendations and experience.

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[1stMustang-GT500]

My insurance doesn't even have the Gt350 or GT500 in their system. They also said if I wanted to "store" the car in the winter and drop liability coverage id need to mail them my plates.

Thats a hard NO might be time for new insurance.

 

[obspsd]

My insurance doesn't even have the Gt350 or GT500 in their system. They also said if I wanted to "store" the car in the winter and drop liability coverage id need to mail them my plates.

Thats a hard NO might be time for new insurance.

Mail them your plates? What a joke.

 

[geoking]

In anticipation of actually receiving the 2020 Shelby GT500, I have reached out to my long time Safeco Insurance agent. I am a very good customer on many levels. My agent claims to be very familiar with classic and performance vehicles and represents other performance car insurers such as Hagerty and others.

What I am initially seeing is as follows:

60 years+
3 additional vehicles

2020 Shelby GT500 Fastback
Full Coverage, Agreed Value
Classic - Restricted at 2500 miles per year
$1526.60 per year

+$800 per year will get me daily driver status, which is not what I plan for the vehicle in the Pacific Northwest. I do live in an urban environment and I am sure that makes a difference compared to other parts of the country.

First question: What is your shared experience? Am I in the ballpark? Recommendations?

Second question: What If I want to track this Shelby for an occasional day or three? Am I flying solo?

Thanks for your recommendations and experience.

60 years+
8 vehicles
You need to compare a little more info.
The policy coverage below is $874 every 6 months. I owe you a thank you because your post made me look up our coverage. My wife got the coverage on her expensive AMG S63 4 door sedan . State Farm has $1000 deductables, which for me is a waste of money. I can lower the cost by raising my deductables. I already called my agent to work the issue. Thanks again. He will quote the GT500 for me next week and I will advise the outcome.

Track days are all yours and not covered without a specific policy rider and more dollars.

The bodily injury coverage below could be as low as $100,000 and $300,000 but not a good place to cut corners.


Bodily Injury Limits
Each Person, Each Accident
$250,000 $500,000
Property Damage Limit
Each Accident
$100,000

$185.00 / 6 mos

Medical Payments Coverage

Limit - Each Person
$25,000

$30.19 / 6 mos

Comprehensive Coverage - $1,000 Deductible

$93.15 / 6 mos

Collision Coverage - $1,000 Deductible

$446.17 / 6 mos

Uninsured Motor Vehicle Coverage

Bodily Injury Limits
Each Person, Each Accident
$250,000 $500,000

$119.47 / 6 mos

 

[V00D00]

My insurance doesn't even have the Gt350 or GT500 in their system. They also said if I wanted to "store" the car in the winter and drop liability coverage id need to mail them my plates.

Thats a hard NO might be time for new insurance.

shit, i might do that, mail them the real DE blue/yellow plates and keep my black and white custom plates lololol

Just checked my prices, an additional 2400/year if i add and dont replace. 1200/year if replacing

 

[1stMustang-GT500]

Yea 2400 sounds about right, im 36 years old and will be adding the Shelby to my Audi. I currently pay $68 a month, i expect it to be $250 after the new addition.

 

[chill66]

I seriously cannot imagine the GT500 costing much more, if any, than the GT350. My GT350 was about $90 per month with a 7500 mile annual limit through State Farm.

 

[Snoopy49]

Have you checked with AAA for insurance? Here is a copy of my AAA insurance for a 2013 GT500 2500 miles a year. This is for 12 months.

 

[BlackandBlue]

The more cars you have insured the lower the cost to insure. If you have 2 drivers listed on you policy and have 8 cars, the time any one car can be driven is 1/4 of the time. There is of course mileage limits and other stipulations but overall this will always work out.

This drives down the total cost to insure per car but the overall cost still increases because of othe none driving losses.

Everyone with any assets should have 1,000,000/1,000,000 for damage and liability. A stackable policy is even better in this regard. 3 cars = 3,000,000 in coverage. Think hospital bills or permanent disability. Or if you crash into a car dealership and it starts a fire.

I never of course break the speed limit in my car but I could see where 760hp would make it difficult in a 45.

 

[Myshelby3425]

I seriously cannot imagine the GT500 costing much more, if any, than the GT350. My GT350 was about $90 per month with a 7500 mile annual limit through State Farm.

It’s going to be a good amount higher than the GT350 I think.

I quoted a hellcat and it was ridiculous.

 

[16mach1]

You need to insure through a specialty ins not your standard carrier. I have three cars with stated values, 2 with 700+hp and includes allowing my 21 year old son and 23 year old daughter to drive them for about $2500 per year. If kids were not on would be $100 less. I use American Modern

 

[protraxduner]

Yes you have to be careful about insuring your GT500 like a 'normal' car, they will do it no issue, but just remember its just a car and a number for them. An agreed upon value policy is the best thing but obviously cost more. Not so important being a new car, but soon as it starts to depreciate, market value vs insurance value can be way off.

 

[Sparko]

I have my 2013 Shelby insured by Leland West in Fresno Ca. through the Porsche club of America ( i Joined ) and I pay about $ 800 per year for extremely good coverage...trust me in New Jersey that is VERY cheap. The only restriction is it has to be garaged and you must prove you have another vehicle that is your daily driver.

 

[Deviruchi]

I have my 2013 Shelby insured by Leland West in Fresno Ca. through the Porsche club of America ( i Joined ) and I pay about $ 800 per year for extremely good coverage...trust me in New Jersey that is VERY cheap. The only restriction is it has to be garaged and you must prove you have another vehicle that is your daily driver.

That's one hell of a restriction.

 

[1stMustang-GT500]

I have my 2013 Shelby insured by Leland West in Fresno Ca. through the Porsche club of America ( i Joined ) and I pay about $ 800 per year for extremely good coverage...trust me in New Jersey that is VERY cheap. The only restriction is it has to be garaged and you must prove you have another vehicle that is your daily driver.

I am going to have to look into this option as $800 seems like a great deal.

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