Nobody I know anticipates paying for auto insurance, especially when they know their premiums are through the roof. Consumers have many auto insurance companies to purchase coverage from, and although it’s a good thing to have multiple companies, it makes it harder to find the best rates for your vehicles.
Comparing insurance rates can be a lot of work if you aren’t aware of the best way to get rate quotes. You can waste a few hours (or days) discussing policy coverages with local insurance agents in your area, or you can utilize online quoting for quick rates.
Many of the larger companies are enrolled in a marketplace where prospective buyers enter their policy data once, and each company can provide price quotes based on that data. This saves time by eliminating repetitive form submissions to each individual insurance company.
To compare rates now click here (opens in new window).
The only drawback to using this type of system is that consumers can’t choose which insurance companies to receive prices from. If you prefer to choose specific insurance companies to compare rates, we have a page of low cost insurance companies in your area. Click to view list.
You can use whichever method you prefer to find lower rates, just make absolute certain that you use equivalent coverage limits and deductibles on every price quote you get. If you compare higher or lower deductibles it’s impossible to determine the best price for your Chevy Corvette.
Insurance can cost an arm and a leg, but you may find discounts that can dramatically reduce your bill. Some of these disounts will be visible at the time you complete a quote, but less common discounts must be specifically requested prior to receiving the credit.
Don’t be surprised that most discounts do not apply to your bottom line cost. The majority will only reduce the price of certain insurance coverages like comp or med pay. So when the math indicates you can get free auto insurance, that’s just not realistic. Any qualifying discounts should help reduce the amount you have to pay.
Larger insurance coverage companies and some of their more popular discounts include:
Check with every prospective company which credits you are entitled to. Savings may not apply everywhere. To view insurers that offer the discounts shown above, click this link.
Many different elements are considered when you get a price on insurance. Some factors are common sense like an MVR report, although some other factors are less obvious like your continuous coverage or your financial responsibility.
The itemized list below are some of the things used by insurance companies to determine prices.
When it comes to choosing coverage for your vehicles, there really is not a single plan that fits everyone. Each situation is unique and a cookie cutter policy won’t apply. These are some specific questions may help highlight if you may require specific advice.
If it’s difficult to answer those questions then you might want to talk to a licensed agent. If you want to speak to an agent in your area, take a second and complete this form or you can also visit this page to select a carrier It is quick, free and you can get the answers you need.
Consumers can’t ignore all the ads that claim the lowest premium rates by companies like GEICO, State Farm and Progressive. They all seem to have a common claim about how much you will save if you change your coverage to them.
How does every auto insurance company offer drivers better rates? It’s all in the words they use.
All the different companies have a preferred profile for the type of customer that earns them the most money. For example, a preferred risk might have to be over the age of 40, insures multiple vehicles, and drives a safe vehicle. Any person who matches that profile will get a cheap rate quote and therefore will cut their rates substantially.
People who do not meet these standards will probably be forced to pay a more expensive rate which leads to the customer not buying. If you listen closely, the ads state “customers that switch” not “all people who quote” can get the lowest rates when switching. That’s why insurance companies can make it sound like they have such great rates. Each company has different criteria, so you really need to get auto insurance quotes as often as possible. It’s just too difficult to predict which insurance companies will provide the lowest prices.
Learning about specific coverages of a car insurance policy helps when choosing the best coverages at the best deductibles and correct limits. Car insurance terms can be ambiguous and even agents have difficulty translating policy wording. Shown next are typical coverages found on most car insurance policies.
Uninsured or underinsured coverage – This gives you protection when other motorists either have no liability insurance or not enough. This coverage pays for injuries to you and your family and damage to your 2006 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. That’s why carrying high Uninsured/Underinsured Motorist coverage is a good idea.
Medical expense coverage – Personal Injury Protection (PIP) and medical payments coverage provide coverage for expenses for hospital visits, X-ray expenses, prosthetic devices and ambulance fees. They can be used in conjunction with a health insurance program or if you lack health insurance entirely. It covers you and your occupants and will also cover any family member struck as a pedestrian. Personal injury protection coverage is not universally available and may carry a deductible
Comprehensive protection – This coverage pays for damage OTHER than collision with another vehicle or object. You first must pay your deductible then the remaining damage will be covered by your comprehensive coverage.
Comprehensive coverage protects against things such as damage from getting keyed, damage from a tornado or hurricane, a broken windshield and falling objects. The maximum amount a car insurance company will pay at claim time is the ACV or actual cash value, so if your deductible is as high as the vehicle’s value consider dropping full coverage.
Liability car insurance – Liability insurance will cover injuries or damage you cause to people or other property by causing an accident. It protects you against other people’s claims. Liability doesn’t cover damage to your own property or vehicle.
It consists of three limits, per person bodily injury, per accident bodily injury, and a property damage limit. You commonly see liability limits of 25/50/25 which means $25,000 bodily injury coverage, a limit of $50,000 in injury protection per accident, and a limit of $25,000 paid for damaged property.
Liability can pay for claims such as bail bonds, repair costs for stationary objects, medical expenses and emergency aid. How much liability should you purchase? That is your choice, but it’s cheap coverage so purchase as much as you can afford.
Collision coverages – This pays for damage to your Corvette resulting from colliding with another vehicle or an object, but not an animal. You have to pay a deductible then your collision coverage will kick in.
Collision can pay for claims such as crashing into a ditch, rolling your car, hitting a mailbox, hitting a parking meter and crashing into a building. Paying for collision coverage can be pricey, so consider dropping it from vehicles that are 8 years or older. Another option is to raise the deductible to save money on collision insurance.
We just covered many ideas to save on 2006 Chevy Corvette insurance. The key concept to understand is the more price quotes you have, the higher the chance of saving money. Consumers may even find the lowest rates are with a company that doesn’t do a lot of advertising. Smaller companies may have significantly lower car insurance rates on certain market segments than their larger competitors like GEICO and State Farm.
When trying to cut insurance costs, it’s very important that you do not sacrifice coverage to reduce premiums. There have been many cases where drivers have reduced collision coverage to discover at claim time that the small savings ended up costing them much more. The proper strategy is to purchase a proper amount of coverage at a price you can afford, but don’t skip important coverages to save money.
More detailed insurance coverage information is available by following these links: