deepc285

Anyone check into insurance premium quotes for the new 5.0 --> a previous posted stated his almost DOUBLED ! He also stated good driving record w/ multi car discount. I myself got rid of an old 2002 base F-150 thrasher truck. My insurance went up only 15 bucks a month (2010, 4.6, standard insur. $250 deductable) Of course I'm 47, married, cln record, multi...

Skotty

A good question many should consider. I haven't looked yet myself, since it won't stop me from buying one. I am curious however, so will probably look it up before long.

It will be different for each person...many factors to consider. Age, history, gender, marital status, company, whether or not you have multiple policies. Company can make a surprising difference sometimes, so you might check other companies if your current company has an unreasonable rate. I was with a company once that wanted to charge me over 1K every six months for a second car I had purchased. I switched to Geico and it only cost me about 250 every six months for the same car, same coverage.

Falchion

The 2011 GT is so new I'm not even sure they'll have it in there system to work up a quote?

eci

BS on it doubling. I went from a Mustang GT to a GT500 and my yearly premium only went from $900 to $1050 on a full coverage policy with 250k/250k/500k limits.

Underwriters rate on type of car, number of cylinders, cost of car, things like that. They don't say "OH man the 2010 has 315HP and this here new fangled 2011 has 412, we better jack up the rates!"

IT_Guru

My quote was $550 every six months. 32 yrs old, multi car multi policy discount. No points or at faults.
for 2011 GT Premium.

xlover

most of that was probably just the increase in value too. prolly 25k insurance valuation on the used GT to 50k on the new gt500

mine only went up about 200 going from 07 fusion to 10 GT. note i am 25

eci

Exactly. A V8 is a V8. They don't rate on horsepower. The big things are:

1. Class ( sportscar, sedan, etc )
2. # of cylinders
3. Replacement cost
4. Number of doors
5. Number of driven wheels

The HP difference between an SVT and Mustang GT has absolutely zero to do with the premium. Same with a 2010 to 2011 GT.

PTRocks

Another factor insurance companies have just started to consider is a person's credit rating. Given the state of the economy, it wouldn't surprise me if this plays a factor for some people.

stangfoeva

I got a friend in insurance and I asked him to get me a quote today, I'll post the results when I get them.

eci

As they should! A credit rating is a very good indicator of a persons' level of responsibility in ALL ASPECTS of their life.

We do credit checks before we employ people. A person with a 500 score is going to be a lousy employee, guaranteed.

PTRocks

That's probably not a lock, but it's pretty close. I can think of a number of mitigating circumstances where people would be getting punished unfairly.

Skotty

Mostly true, perhaps, but not in all cases. For example, a person who doesn't use credit will generally have a low credit score. Doesn't say anything to their level of responsibility. Credit scores are geared more towards "how profitable will you be to creditors".

Boomer

I'd say AGE/Experience is a big one, but not necessarily reflective of the car itself.

I remember being under 25 at the time when the Mach1 came out and the difference between a V6 which I drove at the time, and the GT was within a couple hundred of each other.
The Mach1 was the same as the GT, no difference what so ever.

stangfoeva

I gotta say I'm not looking forward to hearing my quote. I got a good driving record, credit, etc. but I'm still young. 22 FTL

karman

Yeah in general it is true, but there are always exceptions to the rule.
A low credit score is not a "guaranteed" lousy employee, just probable.

eci

Yeah, that's actually the biggest part. I was just referring to the vehicle.

eci

I should have added "if the information true". Obviously I lot of people had identities stolen etc.

eci

I paid $300 a month for a 1992 5.0 back in 92!

Skotty

Age is the biggest factor, and gender usually plays a big role too. When I was young, I was paying about 3x what I do now, and back then I had an old beater with the minimum possible insurance, whereas now I have fully insured cars that are fairly new. And that doesn't even take inflation into account. Other strange factors can have some impact on insurance as well...things you would never even think about. Like whether or not you live in a trailer home. I used to work in insurance, and I always felt some of their rating factors were unethical...they just were not illegal.

stangfoeva

I'll probably get something similar to that. He quoted me at like $220 for the 2010