1992 Chevrolet Corvette Car Insurance Cost

Searching for cheaper insurance coverage rates for your Chevrolet Corvette? If price shopping insurance coverage online is new to you, you may be confused by the hoards of insurance coverage companies offering insurance.

Best discounts on Chevy Corvette coverage

Properly insuring your vehicles can get expensive, but there could be available discounts to cut the cost considerably. Some trigger automatically when you purchase, but a few must be specially asked for in order for you to get them.

  • Multi-car Discount – Insuring more than one vehicle on one policy may reduce the rate for each vehicle.
  • Distant Student – Any of your kids who attend school more than 100 miles from home without a vehicle on campus may be able to be covered for less.
  • Good Student Discount – This discount can get you a discount of up to 25%. The discount lasts up to age 25.
  • Military Discounts – Having a family member in the military could be rewarded with lower premiums.
  • Passive Restraint Discount – Vehicles with factory air bags and/or automatic seat belt systems can qualify for discounts of 20% or more.
  • Multi-policy Discount – If you have multiple policies with the same company you may save approximately 10% to 15%.
  • Safety Course Discount – Completing a course teaching defensive driving skills could possibly earn you a 5% discount if you qualify.
  • Organization Discounts – Being a member of certain professional organizations may earn a discount when buying auto insurance for Corvette insurance.
  • Federal Government Employee – Being employed by or retired from a federal job can earn a discount up to 10% for Corvette insurance with a few auto insurance companies.

As a disclaimer on discounts, most discount credits are not given the the whole policy. Most only cut the price of certain insurance coverages like liability and collision coverage. Just because it seems like you would end up receiving a 100% discount, you’re out of luck. But any discount will help reduce the cost of coverage.

To see a list of insurance companies with the best auto insurance discounts, click this link.

How to Get Insurance Comparison Quotes

There are a variety of methods you can shop for 1992 Chevy Corvette insurance and some are less labor-intensive and much quicker. You can spend countless hours talking about coverages with insurance companies in your area, or you can stay home and use the web to accomplish the same thing much quicker.

Most of the best insurance companies are enrolled in a marketplace that enables customers to only type in their quote data once, and each participating company can provide price quotes based on that information. This prevents consumers from doing quote forms for every insurance company.

To find out how much you can save on insurance click here to open in new window.

One minor caviat to using this type of system is buyers cannot specifically choose which carriers you want pricing from. So if you prefer to choose from a list of companies for rate comparison, we have a page of low cost insurance companies in your area. Click here to view list.

It’s up to you which method you use, but ensure you are comparing identical information for each comparison quote. If each company quotes different liability limits you will not be able to determine which rate is truly the best. Slightly different insurance coverages can result in a big premium difference. And when quoting insurance, remember that comparing a large number of companies will enable you to find better pricing.

Chevy Corvette rates are complex

An important part of buying insurance is that you know some of the elements that go into determining car insurance rates. Having a good understanding of what controls the rates you pay helps enable you to make changes that may reward you with lower car insurance prices.

Listed below are a partial list of the pieces that factor into rates.

  • Choose a safe vehicle and save – Vehicles with good safety scores can get you lower premiums. Safer cars have better occupant injury protection and lower injury rates means less money paid by your insurance company and more competitive rates for policyholders. If your Chevy Corvette is rated at least an “acceptable” rating on the Insurance Institute for Highway Safety website it is probably cheaper to insure.
  • Occupation reflects on rates – Jobs such as judges, business owners and accountants tend to pay higher rates than average in part from high stress levels and lengthy work days. On the flip side, occupations such as scientists, athletes and retirees have the lowest average rates for Corvette insurance.
  • Frequent car insurance claims increase rates – Insurance companies generally give discounts to policyholders who do not file claims often. If you tend to file frequent claims, you can look forward to higher rates. Auto insurance is designed for the bigger claims that can’t be paid out-of-pocket.
  • Your car’s features help determine rates – Purchasing a vehicle with a theft deterrent system can help bring down rates. Anti-theft features like tamper alarm systems, vehicle immobilizer technology and General Motors OnStar all aid in stopping your vehicle from being stolen.

Tailor your coverage to you

When it comes to buying coverage for your personal vehicles, there really is no single plan that fits everyone. Every situation is different.

For example, these questions might point out if you might need professional guidance.

  • Do I really need UM/UIM coverage?
  • How can I get high-risk coverage after a DUI?
  • Is my teenager covered with friends in the car?
  • Can I pay claims out-of-pocket if I buy high deductibles?
  • When should I drop full coverage on my 1992 Chevy Corvette?
  • Am I covered when driving a rental car?
  • Do I need special endorsements for business use of my vehicle?
  • Am I covered when delivering products for my home-based business?
  • Can I rent a car in Mexico?

If you don’t know the answers to these questions, you might consider talking to a licensed insurance agent. To find lower rates from a local agent, simply complete this short form.

The fine print in car insurance ads

State Farm, Allstate and Geico regularly use television and radio advertisements. All the companies say the same thing of big savings if you move to their company. How does each company make almost identical claims? It’s all in the numbers.

All companies have a certain “appetite” for the type of driver that earns them a profit. For instance, a preferred risk could possibly be over the age of 40, owns a home, and has a short commute. A driver who fits that profile will get the preferred rates and therefore will cut their rates substantially.

Consumers who do not match the requirements will have to pay a higher premium which usually ends up with business not being written. The ads say “customers that switch” not “people who quote” save that kind of money. That is how companies can advertise the way they do.

Because of the profiling, it is so important to quote coverage with many companies. You cannot predict the company that will give you the biggest savings on Chevy Corvette insurance.

Car insurance coverages for a Chevy Corvette

Learning about specific coverages of insurance can be of help when determining which coverages you need at the best deductibles and correct limits. The terms used in a policy can be confusing and reading a policy is terribly boring.

Medical expense coverage

Coverage for medical payments and/or PIP pay for bills like surgery, EMT expenses and X-ray expenses. The coverages can be used in conjunction with a health insurance plan or if you lack health insurance entirely. They cover both the driver and occupants as well as getting struck while a pedestrian. Personal Injury Protection is only offered in select states but can be used in place of medical payments coverage

Comprehensive protection

This pays to fix your vehicle from damage OTHER than collision with another vehicle or object. You first have to pay a deductible then your comprehensive coverage will pay.

Comprehensive can pay for claims such as falling objects, vandalism, damage from a tornado or hurricane and theft. The maximum amount your insurance company will pay is the ACV or actual cash value, so if the vehicle is not worth much consider removing comprehensive coverage.

Liability coverage

Liability insurance will cover damages or injuries you inflict on other’s property or people by causing an accident. This insurance protects YOU from legal claims by others, and doesn’t cover your own vehicle damage or injuries.

Split limit liability has three limits of coverage: bodily injury for each person injured, bodily injury for the entire accident and a property damage limit. You commonly see limits of 25/50/25 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 $25,000. Another option is one number which is a combined single limit which limits claims to one amount without having the split limit caps.

Liability insurance covers things such as medical expenses, court costs and repair costs for stationary objects. How much coverage you buy is a personal decision, but consider buying as high a limit as you can afford.

Coverage for collisions

This coverage pays to fix your vehicle from damage from colliding with a stationary object or other vehicle. You will need to pay your deductible and the rest of the damage will be paid by collision coverage.

Collision coverage protects against claims like rolling your car, hitting a mailbox and sideswiping another vehicle. Paying for collision coverage can be pricey, so analyze the benefit of dropping coverage from older vehicles. Drivers also have the option to bump up the deductible in order to get cheaper collision rates.

Uninsured or underinsured coverage

This coverage protects you and your vehicle’s occupants from other motorists when they do not carry enough liability coverage. Covered losses include injuries sustained by your vehicle’s occupants as well as damage to your Chevy Corvette.

Since a lot of drivers only carry the minimum required liability limits, it only takes a small accident to exceed their coverage. For this reason, having high UM/UIM coverages should not be overlooked. Normally the UM/UIM limits are set the same as your liablity limits.

Quote often and quote early

Cheaper 1992 Chevy Corvette insurance can be bought from both online companies in addition to many insurance agents, so you should be comparing quotes from both to have the best chance of lowering rates. A few companies do not provide the ability to get a quote online and these small, regional companies work with independent agents.

In this article, we presented many ideas to lower your insurance rates. The key thing to remember is the more companies you get rates for, the higher your chance of finding lower rates. Consumers may even find the lowest premiums are with a small local company.

Consumers switch companies for a variety of reasons including lack of trust in their agent, extreme rates for teen drivers, an unsatisfactory settlement offer or even delays in responding to claim requests. It doesn’t matter why you want to switch choosing a new company can be pretty painless.

Additional information