Lower Your 1996 Chevrolet Corvette Car Insurance Cost

Looking for the cheapest auto insurance rates for your Chevrolet Corvette? Have you had enough of paying out the nose to buy car insurance? You are no different than the majority of other car owners.

You have multiple car insurance companies to buy insurance from, and although it’s a good thing to have multiple companies, it can be more difficult to locate the cheapest rates.

Choosing the best insurance company for you is not rocket science. Just about every vehicle owner who is shopping for auto insurance most likely will be able to find lower rates. But drivers should learn how insurance companies determine prices.

These factors can influence what you pay for Chevy Corvette insurance

Consumers need to have an understanding of the different types of things that help determine the rates you pay for insurance coverage. Knowing what controls the rates you pay enables informed choices that will entitle you to big savings.

  • Liability coverage is cheap – Liability insurance is the coverage that protects you if ever you are found to be at fault for damages from an accident. It will provide legal defense up to the limits shown on your policy. This coverage is very inexpensive compared to physical damage coverage, so drivers should carry high limits.
  • Increase deductibles and save – Physical damage deductibles define the amount you are required to spend out-of-pocket in the event of a claim. Physical damage insurance, otherwise known as comp (or other than collision) and collision, protects your car from damage. Examples of covered claims could be running into the backend of another car, vandalism, and burglary. The more you’re willing to pay, the less your insurance coverage will be for Corvette coverage.
  • Battle of the sexes – Statistics have proven that men are more aggressive behind the wheel. That doesn’t necessarily mean that men are WORSE drivers than women. They both are in accidents in similar percentages, but men cause more damage. Men also get more serious tickets like reckless driving and DUI. Male drivers age 16 to 19 are the most expensive to insure and therefore are the most expensive to insure.
  • High credit ratings translate to low rates – Credit rating is a huge factor in determining what you pay for insurance coverage. Consumers who have excellent credit tend to be less risk to insure than drivers with poor credit. So if your credit history can use some improvement, you could save money insuring your 1996 Chevrolet Corvette by repairing your credit.
  • Always keep insurance in force – Driving with no insurance is illegal and insurance coverage companies will penalize you for letting your insurance expire. And not only will insurance be more expensive, getting caught without coverage can result in a hefty fine and possibly a revoked license.
  • Keep rates low by being claim-free – If you are a frequent claim filer, you can definitely plan on higher rates. Insurance companies provide discounts to drivers who are claim-free. Insurance coverage is intended for major claims that would cause financial hardship.
  • Consolidate policies to earn discounts – The majority of insurance coverage companies provide better rates to insureds who carry more than one policy. It’s known as a multi-policy discount. Discounts can amount to ten or even up to twenty percent in some cases. Even with this discount, you still need to shop around to ensure the best deal.

Compare the Market for Insurance

Effectively comparing insurance prices can take time and effort if you don’t know the most efficient way. You can waste a lot of time discussing policy coverages with insurance agencies in your area, or you can stay home and use online quotes to get rates in a matter of minutes.

Many insurance companies belong to a marketplace where prospective buyers only type in their quote data once, and each participating company returns a rated price based on that information. This prevents consumers from doing repetitive form submissions for each company.

To get comparison pricing now click here (opens in new window).

The only downside to doing it this way is you can’t choose which providers you want to price. So if you prefer to pick individual companies to compare rates, we put together a list of companies who write insurance in your area. Click to view list.

It’s your choice how you get your quotes, but ensure you’re using identical quote information for each price quote. If you enter different liability limits you can’t possibly decipher which rate is best. Quoting even small variations in insurance coverages could mean much higher rates. Keep in mind that more quotes will increase your chances of finding lower pricing.

Policy discounts you shouldn’t miss

Car insurance companies don’t always publicize all available discounts in a way that’s easy to find, so we took the time to find some of the more common and the harder-to-find discounts you could be receiving.

  • New Car Discount – Putting insurance coverage on a new car can save up to 30% compared to insuring an older model.
  • Anti-lock Brake Discount – Anti-lock brake equipped vehicles can avoid accidents and therefore earn up to a 10% discount.
  • Pay Now and Pay Less – If paying your policy premium upfront instead of making monthly payments you could save up to 5%.
  • Good Student Discount – Getting good grades can save 20 to 25%. The discount lasts well after school through age 25.
  • Drivers Education – Cut your cost by having your teen driver enroll in driver’s education if it’s offered in school.

Keep in mind that most discounts do not apply to the entire cost. Some only apply to specific coverage prices like comp or med pay. So even though it sounds like having all the discounts means you get insurance for free, companies wouldn’t make money that way.

To see a list of providers with the best car insurance discounts, click here to view.

Insurance agents can help

When choosing proper insurance coverage for your personal vehicles, there is no best way to insure your cars. Every situation is different so your insurance should reflect that For example, these questions can aid in determining whether you might need professional guidance.

  • Are my tools covered if they get stolen from my vehicle?
  • Should I file a claim if it’s only slightly more than my deductible?
  • Should I put collision coverage on all my vehicles?
  • Do I need PIP (personal injury protection) coverage in my state?
  • Does my policy pay for OEM or aftermarket parts?
  • Does my liability insurance cover pulling a trailer or camper?
  • How much can I save by bundling my policies?
  • Who is covered when they drive my 1996 Chevy Corvette?
  • Am I covered if hit by an uninsured driver?
  • When should my teen driver be added to my policy?

If you don’t know the answers to these questions then you might want to talk to a licensed insurance agent. To find an agent in your area, simply complete this short form or you can go here for a list of companies in your area.

Educate yourself about insurance coverages

Learning about specific coverages of insurance helps when choosing the right coverages at the best deductibles and correct limits. Policy terminology can be ambiguous and nobody wants to actually read their policy. These are the usual coverages available from insurance companies.

Comprehensive protection – This coverage pays for damage caused by mother nature, theft, vandalism and other events. A deductible will apply then the remaining damage will be covered by your comprehensive coverage.

Comprehensive coverage pays for claims like damage from a tornado or hurricane, hail damage, hitting a bird and rock chips in glass. The most your insurance company will pay is the market value of your vehicle, so if the vehicle’s value is low it’s probably time to drop comprehensive insurance.

Uninsured or underinsured coverage – This coverage protects you and your vehicle’s occupants from other drivers when they are uninsured or don’t have enough coverage. It can pay for hospital bills for your injuries and damage to your Chevy Corvette.

Since a lot of drivers only carry the minimum required liability limits, their limits can quickly be used up. This is the reason having UM/UIM coverage is important protection for you and your family.

Medical expense coverage – Personal Injury Protection (PIP) and medical payments coverage provide coverage for immediate expenses like dental work, funeral costs, nursing services and rehabilitation expenses. They are often utilized in addition to your health insurance policy or if you do not have health coverage. They cover both the driver and occupants as well as being hit by a car walking across the street. PIP is not universally available and gives slightly broader coverage than med pay

Liability coverages – This coverage will cover damages or injuries you inflict on a person or their property that is your fault. This coverage protects you against claims from other people. Liability doesn’t cover damage sustained by your vehicle in an accident.

Coverage consists of three different limits, per person bodily injury, per accident bodily injury, and a property damage limit. Your policy might show values of 100/300/100 which stand for a limit of $100,000 per injured person, a total of $300,000 of bodily injury coverage per accident, and $100,000 of coverage for damaged propery.

Liability can pay for things such as loss of income, pain and suffering and emergency aid. How much liability should you purchase? That is up to you, but you should buy as large an amount as possible.

Collision coverage – This coverage pays for damage to your Corvette resulting from a collision with another car or object. You have to pay a deductible then the remaining damage will be paid by your insurance company.

Collision coverage protects against things like sideswiping another vehicle, scraping a guard rail and backing into a parked car. Collision is rather expensive coverage, so consider removing coverage from lower value vehicles. Drivers also have the option to raise the deductible to save money on collision insurance.

A penny earned…

As you shop your coverage around, do not skimp on coverage in order to save money. Too many times, an insured cut collision coverage only to find out that the savings was not a smart move. The proper strategy is to purchase plenty of coverage at a price you can afford while still protecting your assets.

Throughout this article, we presented a lot of tips how to get a better price on 1996 Chevy Corvette insurance. It’s most important to understand that the more price quotes you have, the better chance you’ll have of finding lower rates. You may even find the lowest premiums are with the least-expected company. These smaller insurers may have significantly lower rates on certain market segments compared to the large companies like Geico and State Farm.

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