Cheaper 1992 Chevrolet Corvette Insurance Rates

Trying to come up with a payment for overpriced car insurance can consume your funds and make it hard to pay other bills. Doing a rate comparison is free and is an excellent way to ensure you are getting the best deal.

Because you have many car insurance companies to choose from, it can be hard to pick the cheapest car insurance provider.

Locating cheaper auto insurance coverage is not that difficult. If you have insurance now or are just looking to switch companies, you can follow these tips to cut your premiums and still get good coverage. Vehicle owners just need to know the proper methods to compare prices over the internet.

What determines Chevy Corvette insurance prices?

An important part of buying insurance is that you know a few of the rating criteria that play a part in calculating your policy premiums. When you know what positively or negatively impacts premium levels, this empowers consumers to make smart changes that may reward you with much lower annual insurance costs. Lots of factors are taken into consideration when pricing auto insurance. Most are fairly basic such as traffic violations, but other criteria are not as apparent like your continuous coverage or your financial responsibility.

The following are some of the most rate-impacting factors used by your company to calculate your rates.

  • Don’t let your auto insurance policy lapse – Having a lapse in insurance coverage will be a quick way to drive up your policy premiums. And not only will your rates increase, the inability to provide proof of insurance could earn you a license revocation or jail time.
  • Use credit responsibly and save – Your credit score will be a significant factor in calculating your premium rate. If your credit score leaves room for improvement, you could pay less to insure your 1992 Chevrolet Corvette if you improve your credit rating. Consumers who have very high credit ratings tend to file fewer claims and have better driving records as compared to drivers with lower credit ratings.
  • Teenage drivers pay high rates – More mature drivers are more responsible, file fewer claims , and are generally more financially stable.Drivers with little experience are statistically shown to be inattentive when driving with friends and because of this, their auto insurance rates are much higher.
  • Gender matters – Statistics demonstrate females are less aggressive when driving. However, don’t assume that males are worse at driving than females. Females and males tend to get into at-fault accidents at a similar rate, but guys cause more damage. Men also tend to receive more costly citations like DUI and reckless driving.
  • Companies want multiple policies – Most major auto insurance companies apply better rates for people that have more than one policy. It’s known as a multi-policy discount. Even though this discount sounds good, it’s in your best interest to compare other company rates to ensure the best deal.
  • Obey driving laws and save – How you drive impacts your car insurance rates tremendously. Only having one chargable violation can bump up the cost forty percent or more. Drivers with clean records have lower premiums than people who have multiple driving citations. Drivers who get dangerous citations such as DUI, reckless driving or excessive speeding may face state-mandated requirements to prove financial responsibility with their state motor vehicle department in order to keep their license.
  • Do you work long hours in a stressful job? – Careers like military personnel, executives and emergency personnel generally pay higher premium rates because of stressful work requirements and long work days. Other jobs like actors, students and performers have the lowest average rates on Corvette insurance.
  • Better premiums on cars with good safety ratings – Cars with high safety ratings get lower rates. Safer cars have better occupant injury protection and better occupant protection translates directly to fewer claims passed on to you as lower rates. If your Chevy scored at minimum four stars on Safercar.gov you are probably receiving a discount.

More affordable rates with discounts

Companies that sell car insurance don’t list the complete list of policy discounts very clearly, so we researched both well-publicized as well as the least known discounts that may be available.

  • Driver’s Ed – Reduce the cost of insurance for teen drivers by having them participate in a local driver’s education class if it’s offered in school.
  • Seat Belt Discounts – Using a seat belt and requiring all passengers to buckle up before driving can save 10% or more off the personal injury premium cost.
  • Homeowners Savings – Owning your own home or condo may trigger a policy discount on car insurance because it shows financial diligence.
  • Good Grades Discount – This discount can be rewarded with saving of up to 25%. This discount can apply up to age 25.
  • New Car Discount – Putting insurance coverage on a new car can be considerably cheaper because new vehicles are generally safer.
  • Discounts for Cautious Drivers – Drivers without accidents can save as much as half off their rates on Corvette insurance compared to accident prone drivers.
  • Military Rewards – Having a deployed family member may lower your car insurance rates slightly.
  • Distant Student Discount – Older children who are enrolled in higher education away from home and do not have a car can be insured at a reduced rate.

Discounts save money, but please remember that most discounts do not apply to the entire policy premium. Most cut the cost of specific coverages such as comp or med pay. Just because it seems like having all the discounts means you get insurance for free, it doesn’t quite work that way.

A few popular companies and a summarized list of policyholder discounts can be found below.

  • GEICO offers discounts for military active duty, air bags, anti-lock brakes, emergency military deployment, and federal employee.
  • MetLife discounts include defensive driver, good driver, good student, claim-free, multi-policy, accident-free
  • Progressive may have discounts that include multi-policy, continuous coverage, online signing, multi-vehicle, homeowner, online quote discount, and good student.
  • Travelers may include discounts for home ownership, IntelliDrive, multi-policy, hybrid/electric vehicle, save driver, continuous insurance, and multi-car.
  • SAFECO includes discounts for teen safe driver, accident prevention training, drive less, anti-theft, and bundle discounts.
  • AAA may offer discounts for multi-policy, anti-theft, pay-in-full, education and occupation, AAA membership discount, good student, and good driver.

If you want affordable insurance coverage quotes, ask all companies you are considering to apply every possible discount. All car insurance discounts may not be available in every state.

What is the best auto insurance coverage?

When buying coverage for your personal vehicles, there isn’t really a cookie cutter policy. Every situation is different so your insurance should reflect that For example, these questions can help discover if your insurance needs would benefit from professional advice.

  • How do I insure my teen driver?
  • Is there coverage for injuries to my pets?
  • When can I cancel my policy?
  • Can I rent a car in Mexico?
  • Are rental cars covered under my policy?
  • Does coverage extend to Mexico or Canada?
  • What if I total my 1992 Chevy Corvette and owe more than it’s worth?
  • Does insurance cover damages from a DUI accident?
  • Am I insured when driving a different vehicle?
  • Am I covered by my spouse’s policy after a separation?

If you’re not sure about those questions but one or more may apply to you, you might consider talking to an agent. If you don’t have a local agent, simply complete this short form or click here for a list of auto insurance companies in your area. It is quick, free and you can get the answers you need.

Auto insurance coverages

Understanding the coverages of your policy can be of help when determining which coverages you need for your vehicles. The coverage terms in a policy can be ambiguous and coverage can change by endorsement. These are the usual coverages found on most insurance policies.

Liability car insurance – Liability insurance protects you from damages or injuries you inflict on a person or their property in an accident. This coverage protects you against other people’s claims, and does not provide coverage for your injuries or vehicle damage.

Liability coverage has three limits: bodily injury per person, bodily injury per accident and property damage. You might see limits of 25/50/25 that translate to $25,000 bodily injury coverage, a per accident bodily injury limit of $50,000, and a total limit of $25,000 for damage to vehicles and property. Alternatively, you may have a combined single limit or CSL which combines the three limits into one amount rather than limiting it on a per person basis.

Liability can pay for claims like attorney fees, loss of income, emergency aid, medical expenses and pain and suffering. How much liability should you purchase? That is a personal decision, but you should buy as high a limit as you can afford.

Uninsured/Underinsured Motorist coverage – Uninsured or Underinsured Motorist coverage protects you and your vehicle’s occupants when the “other guys” either have no liability insurance or not enough. It can pay for injuries to you and your family and also any damage incurred to your 1992 Chevy Corvette.

Due to the fact that many drivers only carry the minimum required liability limits, it doesn’t take a major accident to exceed their coverage limits. This is the reason having UM/UIM coverage is important protection for you and your family. Normally your uninsured/underinsured motorist coverages do not exceed the liability coverage limits.

Collision – Collision coverage pays for damage to your Corvette from colliding with an object or car. You first must pay a deductible and then insurance will cover the remainder.

Collision insurance covers claims such as rolling your car, hitting a parking meter, colliding with a tree and scraping a guard rail. This coverage can be expensive, so analyze the benefit of dropping coverage from lower value vehicles. It’s also possible to raise the deductible to get cheaper collision coverage.

Comprehensive coverage – This will pay to fix damage that is not covered by collision coverage. You first must pay your deductible then the remaining damage will be covered by your comprehensive coverage.

Comprehensive coverage protects against claims such as hail damage, a tree branch falling on your vehicle and theft. The maximum payout you can receive from a comprehensive claim is the ACV or actual cash value, so if the vehicle is not worth much consider removing comprehensive coverage.

Medical payments coverage and PIP – Medical payments and Personal Injury Protection insurance reimburse you for short-term medical expenses for surgery, EMT expenses and ambulance fees. The coverages can be used in conjunction with a health insurance policy or if you lack health insurance entirely. They cover all vehicle occupants and also covers getting struck while a pedestrian. Personal injury protection coverage is only offered in select states and may carry a deductible

Feed the piggy bank

As you go through the steps to switch your coverage, make sure you don’t reduce needed coverages to save money. There are a lot of situations where drivers have reduced comprehensive coverage or liability limits only to find out they didn’t purchase enough coverage. The aim is to buy enough coverage for the lowest price while not skimping on critical coverages.

We covered many tips how you can get a better price on 1992 Chevy Corvette insurance. It’s most important to understand that the more companies you get premium rates for, the better chance you’ll have of finding low cost insurance coverage. You may be surprised to find that the best price on insurance coverage is with the smaller companies. These smaller insurers may only write in your state and offer lower premium rates as compared to the big name companies such as Allstate or State Farm.

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