View 2018 Chevrolet Corvette Insurance Rates

Want lower insurance coverage rates for your Chevrolet Corvette? Wish you could get out of an overpriced insurance coverage policy? Don’t feel bad because you’re not the only one. Insurance companies such as Allstate, Liberty Mutual and State Farm all claim big savings with ad campaigns and it can be hard to not get sucked in by the cute commercials and find the best price available.

If you have a current insurance coverage policy or are shopping for new coverage, you will benefit by learning to cut your premiums while maximizing coverage. Buying car insurance is easy if you know what you’re doing. Drivers only need an understanding of the proper way to shop their coverage around online.

Do you qualify for discount insurance?

Auto insurance companies do not list every possible discount very well, so the next list breaks down a few of the more well known and the more hidden savings tricks you should be using when you buy car insurance online.

  • Cautious Drivers – Insureds without accidents could pay up to 40% less on Corvette insurance as compared to drivers with claims.
  • Air Bag Discount – Vehicles equipped with air bags or automatic seat belts can qualify for discounts of 20 to 30 percent.
  • Seat Belt Discounts – Drivers who require all vehicle occupants to fasten their seat belts could save 15% on the medical payments or PIP coverage costs.
  • Claim Free – Good drivers with no accidents pay much less in comparison with accident-prone drivers.
  • Driver Training Discounts – Taking part in a course in safe driver can save you 5% or more and easily pay for the cost of the class.

Remember that most discounts do not apply to all coverage premiums. Most only apply to the price of certain insurance coverages like comprehensive or collision. So when it seems like you could get a free insurance policy, you aren’t that lucky.

A list of insurance companies and some of the premium reductions they offer can be read below.

  • State Farm has savings for student away at school, driver’s education, accident-free, good driver, passive restraint, and multiple autos.
  • GEICO offers discounts for multi-vehicle, good student, membership and employees, anti-lock brakes, and federal employee.
  • Liberty Mutual policyholders can earn discounts including new move discount, multi-car, hybrid vehicle, new vehicle discount, and teen driver discount.
  • The Hartford may have discounts that include defensive driver, driver training, anti-theft, good student, vehicle fuel type, and bundle.
  • MetLife may include discounts for good student, good driver, accident-free, claim-free, multi-policy, and defensive driver.
  • Progressive may offer discounts for online quote discount, multi-policy, good student, homeowner, and multi-vehicle.

It’s a good idea to ask all the companies the best way to save money. All car insurance discounts may not apply in your area. If you would like to see a list of insurance companies who offer discounts, click this link.

Why your insurance prices might be higher

A large part of saving on car insurance is knowing some of the things that aid in calculating your car insurance rates. If you understand what influences your rates, this enables you to make decisions that may result in big savings.

  • Your address can affect premiums – Having an address in a rural area has it’s advantages when insuring your vehicles. Residents of big cities regularly have congested traffic and much longer commute distances. Lower population means fewer accidents.
  • Are men or women drivers cheaper? – Statistics demonstrate that females take fewer risks when driving. However, this does not mean women are better drivers. Both genders cause accidents in similar numbers, but guys cause more damage and cost insurance companies more money. In addition to higher claims, males also get more serious tickets such as driving while intoxicated (DWI) or driving recklessly. Young men ages 16 to 20 generally have the highest accident percentage and therefore pay the highest rates.
  • Raise your physical damage deductibles for better prices – Insurance for physical damage to your car, commonly called comprehensive (or other-than-collision) and collision coverage, insures against damage to your Chevy. Some examples of claims that would be covered are a broken windshield, damage caused by hail, and damage from a fallen tree branch. Your deductibles define the amount the insured will be required to pay if the claim is covered. The more damage repair cost you choose to pay out-of-pocket, the less your company will charge you for insurance on Corvette insurance.
  • Liability coverage – Liability coverage will afford coverage if ever you are determined to be liable for causing personal injury or damage in an accident. Your liability coverage provides you with a defense in court which can be incredibly expensive. Liability insurance is pretty cheap as compared to coverage for physical damage, so drivers should carry high limits.

What insurance coverages do I need?

When it comes to choosing adequate coverage for your personal vehicles, there isn’t really a single plan that fits everyone. Every situation is different and a cookie cutter policy won’t apply. For example, these questions can help discover whether your personal situation might need an agent’s assistance.

  • Is my business laptop covered if it gets stolen from my vehicle?
  • Do I need to file an SR-22 for a DUI in my state?
  • Will I lose any money if I cancel my policy before it expires?
  • Does my insurance cover a custom paint job?
  • Is a blown tire covered by insurance?
  • If my pet gets injured in an accident are they covered?
  • What exactly is covered by my policy?
  • How much liability do I need to cover my assets?
  • Can I afford to pay high deductible claims out of pocket?
  • Does my policy pay for OEM or aftermarket parts?

If you’re not sure about those questions but you think they might apply to your situation, then you may want to think about talking to a licensed insurance agent. If you don’t have a local agent, complete this form or you can go here for a list of companies in your area. It’s fast, doesn’t cost anything and you can get the answers you need.

Save $383 a year! What?

Consumers can’t escape the ads that claim the lowest auto insurance rates from companies such as Allstate, GEICO and Progressive. All the companies try to convey promises that you’ll save big just by switching your policy.

That’s great but how can every company cost less than your current company? This is the way they can do it.

All companies offer their best rates for the driver that will add to their bottom line. For instance, a profitable insured might have to be a married male, has no prior claims, and drives a vehicle with a low ISO rating. A propective insured that matches those criteria will get a cheap rate quote and will probably pay quite a bit less when switching companies.

Potential customers who don’t qualify for the requirements will have to pay a more expensive rate and this can result in business not being written. If you listen closely, the ads state “people that switch” not “everybody who quotes” save money. That is how insurance companies can confidently make claims like that.

This illustrates why you really should get car insurance quotes as often as possible. It’s impossible to know which car insurance company will have the lowest rates for your situation.

Car insurance coverage considerations

Understanding the coverages of your car insurance policy can help you determine appropriate coverage at the best deductibles and correct limits. Policy terminology can be confusing and reading a policy is terribly boring. Shown next are typical coverage types found on the average car insurance policy.

Coverage for liability

This coverage can cover injuries or damage you cause to a person or their property in an accident. This insurance protects YOU against claims from other people. Liability doesn’t cover damage to your own property or vehicle.

Liability coverage has three limits: bodily injury per person, bodily injury per accident and property damage. You commonly see policy limits of 100/300/100 that means you have a $100,000 limit per person for injuries, a per accident bodily injury limit of $300,000, and $100,000 of coverage for damaged propery. Occasionally you may see one number which is a combined single limit which limits claims to one amount rather than limiting it on a per person basis.

Liability coverage protects against claims such as attorney fees, repair bills for other people’s vehicles, court costs and medical services. How much liability should you purchase? That is up to you, but consider buying as high a limit as you can afford.

Comprehensive coverage

This pays for damage caused by mother nature, theft, vandalism and other events. You first must pay your deductible and then insurance will cover the rest of the damage.

Comprehensive coverage pays for things such as a broken windshield, damage from a tornado or hurricane, hitting a bird, rock chips in glass and hail damage. The highest amount your car insurance company will pay is the cash value of the vehicle, so if it’s not worth much more than your deductible consider dropping full coverage.

Uninsured/Underinsured Motorist coverage

This provides protection from other motorists when they either have no liability insurance or not enough. Covered losses include injuries sustained by your vehicle’s occupants and damage to your Chevy Corvette.

Due to the fact that many drivers have only the minimum liability required by law, their limits can quickly be used up. This is the reason having UM/UIM coverage is a good idea. Normally these coverages are set the same as your liablity limits.

Medical payments coverage and PIP

Personal Injury Protection (PIP) and medical payments coverage pay for expenses such as dental work, chiropractic care, surgery, hospital visits and EMT expenses. The coverages can be used to fill the gap from your health insurance program or if there is no health insurance coverage. It covers not only the driver but also the vehicle occupants in addition to if you are hit as a while walking down the street. Personal injury protection coverage is not an option in every state and may carry a deductible

Auto collision coverage

Collision coverage pays for damage to your Corvette caused by collision with another vehicle or an object, but not an animal. You first must pay a deductible and the rest of the damage will be paid by collision coverage.

Collision insurance covers things such as sustaining damage from a pot hole, colliding with a tree and crashing into a building. Paying for collision coverage can be pricey, so you might think about dropping it from vehicles that are older. Another option is to increase the deductible to save money on collision insurance.

More quotes mean more savings

Some insurance coverage companies do not offer rate quotes online and usually these smaller providers only sell coverage through local independent agents. Cost effective 2018 Chevy Corvette insurance can be bought both online and from local insurance agents, so you should be comparing quotes from both so you have a total pricing picture.

As you prepare to switch companies, make sure you don’t reduce needed coverages to save money. In too many instances, drivers have reduced uninsured motorist or liability limits to discover at claim time that it was a big mistake. Your goal is to buy a smart amount of coverage at the lowest possible cost, not the least amount of coverage.

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