2002 Chevrolet Corvette Car Insurance Rates – 8 Tips for Cheaper Quotes

Searching for cheaper insurance rates? Consumers have lots of choices when looking for the lowest priced Chevy Corvette insurance. You can either spend your time struggling with agents trying to get quotes or save time using the internet to compare rates. There are more efficient ways to buy insurance so you’re going to learn the best way to quote coverages on a Chevy and locate the lowest possible price from both online companies and local agents.

Finding the best rates is not rocket science. If you currently have a car insurance policy, you will be able to reduce your rates substantially using this information. Drivers just need to know the proper methods to buy auto insurance online.

Comprehensive Insurance Coverage Comparison

Lowering your 2002 Chevy Corvette insurance coverage rates is surprisingly easy. You just have to take a few minutes to compare quotes provided by online insurance companies. This can be accomplished in several different ways.

  1. The fastest way to compare a lot of rates at once would be an industry-wide quote request form (click to open form in new window). This easy form prevents you from having to do separate quotes for each company you want a rate for. One quote request will get you rate comparisons from multiple low-cost companies. This is by far the quickest method.
  2. A slightly less efficient method to get quotes online is going to the website for each individual company to complete a price quote. For sake of this example, let’s assume you want to compare rates from Farmers, State Farm and Progressive. You would have to take the time to go to each site and enter your policy data, and that’s why the first method is more popular.

    For a handy list of car insurance company links in your area, click here.

  3. The most time-consuming way to compare rates is to spend time driving to insurance agents’ offices. Shopping for insurance coverage online makes this process obsolete unless you have a need for the personal advice only provided by licensed agents. Drivers can get prices online and still use a local agent and we’ll touch on that later.

Whichever method you choose, ensure you are comparing exactly the same quote information for each comparison quote. If your comparisons have different values for each quote you can’t possibly make an equal comparison.

Discounts are great for lower rates

Companies do not advertise all their discounts in an easy-to-find place, so we researched some of the best known and also the lesser-known savings tricks you should be using. If they aren’t giving you every credit you deserve, you’re paying more than you need to.

  • Drivers Education – Make teen driver coverage more affordable by requiring them to take driver’s ed class in school.
  • Good Students Pay Less – This discount can save 20 to 25%. The good student discount can last well after school through age 25.
  • College Student – Any of your kids living away from home attending college and do not have access to a covered vehicle may qualify for this discount.
  • Discount for Life Insurance – Select insurance companies reward you with better rates if you take out auto and life insurance together.
  • Accident Forgiveness – A handful of insurance companies permit an accident before hitting you with a surcharge if your claims history is clear for a certain period of time.
  • Pay Upfront and Save – By paying your policy upfront instead of paying each month you could save up to 5%.
  • Early Signing – Select companies give a discount for signing up prior to your current policy expiring. This can save 10% or more.
  • Paperless Signup – A few companies give back up to $50 simply for signing over the internet.

As a disclaimer on discounts, some of the credits will not apply to the entire cost. Most only apply to the price of certain insurance coverages like medical payments or collision. So despite the fact that it appears having all the discounts means you get insurance for free, it just doesn’t work that way.

To see a list of insurance companies with discount insurance coverage rates, follow this link.

You may need specialized coverage

When it comes to choosing adequate coverage for your vehicles, there really is no cookie cutter policy. Everyone’s needs are different.

These are some specific questions could help you determine if your insurance needs might need an agent’s assistance.

  • What is UM/UIM insurance?
  • Are my friends covered when driving my 2002 Chevy Corvette?
  • Are rental cars covered under my policy?
  • Are my tools covered if they get stolen from my vehicle?
  • How much can I save by bundling my policies?
  • If my pet gets injured in an accident are they covered?
  • Does my liability insurance cover pulling a trailer or camper?
  • If my 2002 Chevy Corvette is totaled, can I afford another vehicle?

If you don’t know the answers to these questions then you might want to talk to a licensed agent. If you want to speak to an agent in your area, complete this form. It’s fast, doesn’t cost anything and may give you better protection.

Specific coverages for a Chevy Corvette

Knowing the specifics of your car insurance policy can help you determine the right coverages and proper limits and deductibles. The terms used in a policy can be confusing and reading a policy is terribly boring.

Collision coverage

This coverage pays to fix your vehicle from damage caused by collision with a stationary object or other vehicle. You will need to pay your deductible then the remaining damage will be paid by your insurance company.

Collision coverage protects against claims such as damaging your car on a curb, hitting a mailbox, backing into a parked car and colliding with a tree. Collision coverage makes up a good portion of your premium, so consider removing coverage from vehicles that are older. Drivers also have the option to bump up the deductible to save money on collision insurance.

Liability

This can cover damage that occurs to other’s property or people in an accident. This coverage protects you against claims from other people, and doesn’t cover your own vehicle damage or injuries.

It consists of three limits, bodily injury for each person injured, bodily injury for the entire accident and a property damage limit. As an example, you may have liability limits of 50/100/50 which means $50,000 in coverage for each person’s injuries, a per accident bodily injury limit of $100,000, and a total limit of $50,000 for damage to vehicles and property.

Liability coverage protects against things like medical expenses, repair costs for stationary objects and attorney fees. How much liability should you purchase? That is a personal decision, but it’s cheap coverage so purchase as high a limit as you can afford.

Uninsured/Underinsured Motorist coverage

This protects you and your vehicle when other motorists either are underinsured or have no liability coverage at all. It can pay for injuries sustained by your vehicle’s occupants as well as your vehicle’s damage.

Since a lot of drivers have only the minimum liability required by law, it doesn’t take a major accident to exceed their coverage limits. For this reason, having high UM/UIM coverages is a good idea.

Medical payments coverage and PIP

Medical payments and Personal Injury Protection insurance reimburse you for short-term medical expenses such as EMT expenses, nursing services, dental work and chiropractic care. They are used to cover expenses not covered by your health insurance program or if you lack health insurance entirely. It covers both the driver and occupants in addition to any family member struck as a pedestrian. Personal injury protection coverage is not available in all states but it provides additional coverages not offered by medical payments coverage

Comprehensive coverage

Comprehensive insurance will pay to fix damage from a wide range of events other than collision. You first must pay your deductible and then insurance will cover the rest of the damage.

Comprehensive insurance covers claims like vandalism, hail damage, falling objects, damage from flooding and hitting a bird. The most a car insurance company will pay at claim time is the market value of your vehicle, so if the vehicle’s value is low consider dropping full coverage.

Quote more, save more

Consumers change insurance companies for many reasons like high rates after DUI convictions, an unsatisfactory settlement offer, delays in responding to claim requests and being labeled a high risk driver. It doesn’t matter why you want to switch switching companies is less work than it seems.

When you buy insurance online, you should never skimp on coverage in order to save money. There are too many instances where an accident victim reduced full coverage only to regret at claim time they didn’t have enough coverage. The aim is to buy enough coverage at an affordable rate, not the least amount of coverage.

Affordable 2002 Chevy Corvette insurance can be bought online and with local insurance agents, and you should be comparing both to have the best selection. Some insurance companies do not offer you the ability to get quotes online and many times these regional insurance providers only sell through independent insurance agents.

Much more information about insurance can be found at these links: