2005 Chevrolet Corvette Car Insurance Rates

I really doubt anyone is fond of buying auto insurance, especially when they are aware that they could find better rates elsewhere. Many insurers vie to insure your vehicles, and it can be difficult to compare rates and get the definite best rate

It’s smart to do rate comparisons before your next renewal because auto insurance rates trend upward over time. If you had the best rate on Corvette coverage a year ago there may be better deals available now. You’ll find a ton of advice on auto insurance on the web, but in this article, you’re going to get some great ways to lower your auto insurance rates.

Discounts to earn cheap auto insurance rates

Some companies don’t always publicize every discount they offer in an easy-to-find place, so the list below contains some of the best known in addition to some of the lesser obvious auto insurance savings. If you check and find you aren’t receiving every discount available, you are throwing money away.

  • Home Ownership Discount – Being a homeowner may earn you a small savings because it is proof of financial responsibility.
  • Auto/Home Discount – When you combine your auto and home insurance and insure them with the same company you could earn a discount of nearly 15% which can help you find cheap insurance.
  • E-sign – Certain auto insurance companies provide a small discount for buying your policy digitally online.
  • New Vehicle Savings – Insuring a vehicle that is new can be considerably cheaper since new model year vehicles are generally safer.
  • Lower Rates for Military – Being deployed with a military unit could trigger a small discount.
  • No Charge for an Accident – This one is not really a discount per se, but companies like Progressive, Allstate, and GEICO will allow you to have one accident without the usual rate increase if you are claim-free before the accident.
  • Theft Deterent System – Vehicles that have factory alarm systems and tracking devices are less likely to be stolen and will save you 10% or more.

Discounts save money, but please remember that most discount credits are not given to all coverage premiums. Most only apply to the price of certain insurance coverages like physical damage coverage or medical payments. Despite the fact that it seems like you could get a free auto insurance policy, it’s just not the way it works.

Some of the larger companies that may offer quotes with some of the above discounts include:

When getting a coverage quote, ask every prospective company which discounts you qualify for. Some credits might not be available to policyholders in your area. If you would like to view providers who offer auto insurance discounts, click this link.

Cheap insurance rate quotes

Comparing insurance rates can be exhausting if you don’t understand the best way to get rate quotes. You can waste a lot of time talking about coverages with local insurance agents in your area, or you can stay home and use the web to maximize your effort.

Most car insurance companies participate in an industry program where prospective buyers complete one form, and each participating company then returns a price quote determined by their information. This eliminates the need for repetitive form submissions to each company.

To enter your information into the quoting system, click here (opens in new window).

The one downside to using this type of system is that consumers can’t choose the insurers you want pricing from. So if you prefer to pick specific providers to compare rates, we have a listing of companies who write insurance in your area. Click here for list of insurance companies.

The approach you take is up to you, just try to use the exact same coverage information on every price quote you get. If you have mixed coverages then you won’t be able to make a fair rate comparison.

Tailor your auto insurance coverage to you

When it comes to choosing adequate coverage, there really is not a cookie cutter policy. Every situation is different so your insurance needs to address that. For instance, these questions can help discover if your situation might need an agent’s assistance.

  • Can my teen drive my company car?
  • Am I covered by my employer’s commercial auto policy when driving my personal car for business?
  • Are all vehicle passengers covered by medical payments coverage?
  • Why am I required to get a high-risk car insurance policy?
  • Can I make deliveries for my home business?
  • Does coverage extend to Mexico or Canada?

If you can’t answer these questions but a few of them apply, you may need to chat with a licensed insurance agent. If you don’t have a local agent, simply complete this short form or you can go here for a list of companies in your area. It only takes a few minutes and can provide invaluable advice.

Car insurance coverage options for a Chevy Corvette

Learning about specific coverages of a car insurance policy can be of help when determining the right coverages and proper limits and deductibles. The terms used in a policy can be impossible to understand and coverage can change by endorsement. Shown next are the usual coverages offered by car insurance companies.

Comprehensive coverage

This coverage pays to fix your vehicle from damage from a wide range of events other than collision. You need to pay your deductible first then the remaining damage will be covered by your comprehensive coverage.

Comprehensive coverage pays for claims such as hitting a bird, falling objects and theft. The maximum payout your car insurance company will pay is the market value of your vehicle, so if the vehicle’s value is low it’s not worth carrying full coverage.

Medical payments coverage and PIP

Coverage for medical payments and/or PIP kick in for bills such as funeral costs, X-ray 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. They cover not only the driver but also the vehicle occupants in addition to if you are hit as a while walking down the street. PIP is not an option in every state and may carry a deductible

Liability coverages

This can cover injuries or damage you cause to other’s property or people. This insurance protects YOU from claims by other people. Liability doesn’t cover damage sustained by your vehicle in an accident.

It consists of three limits, bodily injury per person, bodily injury per accident and property damage. As an example, you may have liability limits of 50/100/50 that means you have $50,000 in coverage for each person’s injuries, a limit of $100,000 in injury protection per accident, and a limit of $50,000 paid for damaged property.

Liability insurance covers claims such as funeral expenses, legal defense fees, emergency aid, repair costs for stationary objects and repair bills for other people’s vehicles. How much liability should you purchase? That is a personal decision, but buy as much as you can afford.

Coverage for collisions

Collision insurance will pay to fix damage to your Corvette resulting from a collision with an object or car. You first must pay a deductible then the remaining damage will be paid by your insurance company.

Collision insurance covers things like crashing into a building, sustaining damage from a pot hole and hitting a parking meter. Paying for collision coverage can be pricey, so you might think about dropping it from vehicles that are 8 years or older. Drivers also have the option to raise the deductible to save money on collision insurance.

Uninsured/Underinsured Motorist coverage

This coverage gives you protection when the “other guys” are uninsured or don’t have enough coverage. It can pay for medical payments for you and your occupants as well as damage to your Chevy Corvette.

Because many people only purchase the least amount of liability that is required, it doesn’t take a major accident to exceed their coverage limits. That’s why carrying high Uninsured/Underinsured Motorist coverage is very important.

Compare but don’t skimp

We covered many ways to save on 2005 Chevy Corvette insurance. The key thing to remember is the more rate quotes you have, the higher your chance of finding cheap insurance. You may be surprised to find that the best prices are with some of the lesser-known companies. Regional companies can often insure niche markets at a lower cost compared to the large companies like State Farm or Progressive.

As you quote insurance, it’s very important that you do not buy lower coverage limits just to save a few bucks. There are many occasions where drivers have reduced liability limits or collision coverage and found out when filing a claim that the small savings ended up costing them much more. Your strategy should be to buy enough coverage at a price you can afford.

Additional information