Searching for cheaper insurance rates for your Chevrolet Corvette? If you are new to online insurance, by this point your are probably baffled due to the large number of insurance companies all offering big savings.
It’s smart to shop coverage around periodically because insurance prices tend to go up over time. Even if you got the best deal on Corvette insurance a few years ago you will most likely find a better rate quote today. You’ll find a ton of advice on insurance out there, but I’m going to show you a bunch of ideas how to lower your insurance premiums.
How to get affordable car insurance
To find cheaper car insurance quotes, there are several ways to compare rate quotes from local car insurance companies. By far the easiest way to lower the rate you pay for 2018 Chevy Corvette insurance involves getting comparison quotes online. This is very easy and can be done by using one of the methods below.
- The single most time-saving way to get quotes for comparison is a comparison rater form like this one (opens in new window). This style of form keeps you from doing separate quote forms for every prospective company. Filling out one form will return price quotes from multiple low-cost companies. This is by far the quickest method.
- A more time consuming way to shop for car insurance online is spending the time to visit each company website and complete a new quote form. For instance, let’s say you want to see prices from USAA, Farmers and Progressive. You would be required to take the time to go to each site and repeatedly type in your coverage information, which can be really labor intensive.
To view a list of companies in your area, click here.
- The last way to get comparison rates is driving around to insurance agencies in your area. Quoting and buying insurance online eliminates the middleman unless you’re the type of person who wants the guidance of an agent trained in personal lines coverage. Although, it is possible get the lowest quotes online but purchase the actual policy in an agency.
It’s up to you which method you use, but compare nearly identical information for each comparison quote. If the quotes have different limits and deductibles on each one it’s not possible to determine the lowest rate for your Chevy Corvette. Quoting even small variations in coverage limits could throw off the whole comparison. Just remember that quoting more helps increase your odds of locating a lower rate than you’re paying now.
Pay discount rates with these discounts
Some providers don’t always publicize their entire list of discounts in an easy-to-find place, so below is a list some of the more common in addition to some of the lesser obvious insurance savings.
- Theft Prevention Discount – Vehicles equipped with anti-theft or alarm systems are stolen less frequently and therefore earn up to a 10% discount.
- Drivers Ed for Students – Have your child complete a driver education course if offered at their school.
- Clubs and Organizations – Belonging to specific professional or occupational memberships or organizations may earn a discount on your next renewal.
- Low Mileage Discounts – Driving less could qualify for slightly better prices than normal.
- Telematics Data Discounts – Drivers who elect to allow their company to scrutinize where and when they drive by using a small device installed in their vehicle such as Allstate’s Drivewise and State Farm’s In-Drive system might get better premium rates if their driving habits are good.
- Responsible Drivers – Drivers who avoid accidents could pay up to 40% less on Corvette insurance than drivers with accidents.
- Student Discounts – A discount for being a good student can be rewarded with saving of up to 25%. Many companies even apply the discount to college students well after school through age 25.
- Driver Safety – Taking time to complete a course in defensive driver could possibly earn you a 5% discount and also improve your driving technique.
- Seat Belt Discounts – Drivers who always wear seat belts and also require passengers to use a seat belt can save up to 10 percent (depending on the company) off the PIP or medical payment premium.
- Government Employees – Employees or retirees of the government could provide a small rate reduction on Corvette insurance but check with your company.
A little note about advertised discounts, some credits don’t apply to your bottom line cost. Most cut specific coverage prices like medical payments or collision. So even though it sounds like you can get free auto insurance, companies don’t profit that way.
Popular insurance companies and their possible discounts can be read below.
- AAA may offer discounts for multi-car, pay-in-full, good student, multi-policy, and anti-theft.
- Progressive discounts include continuous coverage, online signing, online quote discount, homeowner, multi-policy, multi-vehicle, and good student.
- State Farm offers premium reductions for multiple policy, safe vehicle, good student, good driver, Steer Clear safe driver discount, student away at school, and defensive driving training.
- Esurance policyholders can earn discounts including anti-theft, online shopper, anti-lock brakes, claim free, and good driver.
- Nationwide has savings for accident-free, defensive driving, family plan, good student, business or organization, Farm Bureau membership, and multi-policy.
Check with every prospective company which discounts you may be entitled to. All car insurance discounts may not apply in every state.
Your situation helps dictate your coverage
When choosing the right insurance coverage, there really is not a “best” method to buy coverage. Every insured’s situation is different.
For instance, these questions might point out if you might need professional guidance.
- Is other people’s property covered if stolen from my vehicle?
- Should I rate my 2018 Chevy Corvette as pleasure use or commute?
- Will my insurance pay for OEM parts?
- What if I don’t agree with a claim settlement offer?
- Should I get collision insurance on every vehicle?
- What happens if I owe more than my 2018 Chevy Corvette is worth?
- What is no-fault insurance?
If you can’t answer these questions, you may need to chat with an agent. To find an agent in your area, fill out this quick form.
Choices you make can impact your insurance costs
Lots of factors are taken into consideration when you get your auto insurance bill. Some factors are common sense such as traffic violations, although others are less obvious such as your credit history and annual miles driven.
- How do annual miles impact premiums? – Driving a lot of miles in a year’s time the more you will pay for insurance. Most insurance companies calculate prices partially by how you use the vehicle. Cars used primarily for pleasure use get more affordable rates than cars that get driven a lot. It’s a smart idea to ensure your vehicle rating is showing how each vehicle is driven. Improper usage on your Corvette can cost quite a bit.
- Youthful drivers pay high costs – Youthful drivers are proven to be careless and easily distracted with other occupants in the car so insurance rates are higher. Mature drivers are viewed as being more responsible, statistically cause fewer accidents and get fewer tickets.
- Deter theft and pay less – Driving a car that has a built-in theft deterrent system can help bring down rates. Anti-theft devices like tamper alarm systems, vehicle immobilizer technology and General Motors OnStar can thwart auto theft and help lower rates.
- Save money with responsible credit – Your credit score can be an important factor in determining your rates. Consumers who have excellent credit tend to be better risks to insure than drivers with poor credit scores. So if your credit score can use some improvement, you could potentially save money when insuring your 2018 Chevrolet Corvette by taking the time to improve your credit score.
- Accidents mean higher prices – Your driving record has a lot to do with how much you pay for insurance. Drivers who don’t get tickets pay lower auto insurance prices than people who have multiple driving citations. Only having one speeding ticket can boost insurance rates by as much as twenty percent. Drivers unfortunate enough to have severe tickets such as DUI or willful reckless driving are required to prove financial responsibility to the state department of motor vehicles in order to legally drive.
- What are your deductibles? – Comp and collision deductibles define how much the insured will be required to pay if a covered claim is submitted. Physical damage insurance, also called ‘full coverage’, covers damage that occurs to your car. A few examples of covered claims are colliding with a stationary object, damage caused by hail, or theft of your vehicle. The more of the claim you’re willing to pay, the less money you will pay for insurance on Corvette insurance.
- Females tend to be lower risk – Statistics have proven women are more cautious behind the wheel. It does not mean men are worse drivers. Women and men tend to get into fender benders at about the same rate, but guys have costlier accidents. Men also statistically get cited for more serious violations like driving under the influence (DUI). Young men ages 16 to 20 tend to get in the most accidents and therefore have the most expensive insurance rates.
- If you don’t need it don’t buy it – Policies have additional extra coverages that sound like a good idea at the time when buying insurance. Coverage for things like rental car coverage, towing, and term life insurance may be costing you every month. The coverages may be enticing at first, but if you have no use for them eliminate the coverages to reduce your premium.
Insurance policy coverages for a Chevy Corvette
Knowing the specifics of insurance aids in choosing which coverages you need at the best deductibles and correct limits. Policy terminology can be difficult to understand and reading a policy is terribly boring.
Medical expense insurance – Coverage for medical payments and/or PIP kick in for immediate expenses such as pain medications, rehabilitation expenses, nursing services and dental work. The coverages can be used to fill the gap from your health insurance policy or if there is no health insurance coverage. Coverage applies to both the driver and occupants as well as if you are hit as a while walking down the street. PIP coverage is only offered in select states and may carry a deductible
Comprehensive (Other than Collision) – This pays to fix your vehicle from damage OTHER than collision with another vehicle or object. You need to pay your deductible first and the remainder of the damage will be paid by comprehensive coverage.
Comprehensive insurance covers things such as hail damage, theft, damage from getting keyed, fire damage and vandalism. The maximum payout you’ll receive from a claim is the actual cash value, so if it’s not worth much more than your deductible consider removing comprehensive coverage.
Auto liability – Liability insurance protects you from injuries or damage you cause to people or other property in an accident. It protects YOU from claims by other people. It does not cover your own vehicle damage or injuries.
Liability coverage has three limits: bodily injury for each person injured, bodily injury for the entire accident and a property damage limit. You commonly see values of 50/100/50 which stand for a limit of $50,000 per injured person, a limit of $100,000 in injury protection per accident, and a total limit of $50,000 for damage to vehicles and property.
Liability can pay for claims such as funeral expenses, pain and suffering, loss of income, bail bonds and medical services. How much coverage you buy is your choice, but you should buy as much as you can afford.
Collision coverage – Collision coverage will pay to fix damage to your Corvette from colliding with an object or car. A deductible applies then your collision coverage will kick in.
Collision insurance covers claims like sustaining damage from a pot hole, scraping a guard rail, hitting a mailbox, backing into a parked car and hitting a parking meter. Collision is rather expensive coverage, so you might think about dropping it from vehicles that are older. It’s also possible to raise the deductible to bring the cost down.
Protection from uninsured/underinsured drivers – Uninsured or Underinsured Motorist coverage protects you and your vehicle’s occupants from other motorists when they either have no liability insurance or not enough. Covered losses include hospital bills for your injuries and also any damage incurred to your Chevy Corvette.
Since a lot of drivers have only the minimum liability required by law, it only takes a small accident to exceed their coverage. This is the reason having UM/UIM coverage should not be overlooked.
Pennies from heaven
When getting car insurance quotes online, do not skimp on coverage in order to save money. There have been many situations where consumers will sacrifice collision coverage and discovered at claim time they didn’t have enough coverage. The aim is to purchase a proper amount of coverage for the lowest cost, but do not sacrifice coverage to save money.
Budget-friendly insurance can be found both online and also from your neighborhood agents, so get free car insurance quotes from both of them to have the best selection. A few companies do not provide rate quotes online and most of the time these smaller providers prefer to sell through independent agents.
We just presented a lot of ways to lower your 2018 Chevy Corvette insurance rates. The key concept to understand is the more rate quotes you have, the better likelihood of getting the cheapest car insurance. Consumers may even find the most savings is with a small mutual company.
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