2018 Chevrolet Corvette Car Insurance Rates – 5 Tips for Cheapest Quotes

Searching for cheaper insurance for a Chevy Corvette can be difficult, but you can follow the following methods to save time. There is a right way and a wrong way to find auto insurance online so we’re going to tell you the quickest way to quote coverages on a Chevy and get the cheapest rates.

Take these five policy discounts and save

Insuring your fleet can be pricey, but there could be significant discounts to reduce the price significantly. Larger premium reductions will be automatically applied at the time of purchase, but some need to be asked for prior to receiving the credit.

• Policy Bundle Discount – If you can combine your auto and homeowners policy and insure them with the same company you will save at least 10 to 15 percent or more.
• Discount for Low Mileage – Maintaining low annual mileage may enable drivers to earn discounted rates on garaged vehicles.
• Active Service Discounts – Being on active duty in the military could trigger a small discount.
• Driver Safety – Successfully completing a driver safety course could cut 5% off your bill and easily pay for the cost of the class.
• Multi-line Discount – Some companies give better prices if you take out life insurance from them.

Consumers should know that most discount credits are not given to the overall cost of the policy. Some only apply to specific coverage prices like liability and collision coverage. Just because it seems like having all the discounts means you get insurance for free, it just doesn’t work that way. Any qualifying discounts should definitely cut your overall premium however.

If you would like to view auto insurance companies that can offer you the previously mentioned discounts, follow this link.

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Which policy gives me the best coverage?

When buying adequate coverage for your vehicles, there really is not a best way to insure your cars. Every situation is different.

These are some specific questions may help highlight whether or not you would benefit from professional advice.

• I have a DUI can I still get coverage?
• When should I remove comp and collision on my 2018 Chevy Corvette?
• What vehicles should carry emergency assistance coverage?
• Is my vehicle covered by my employer’s policy when using it for work?
• How can I get my company to pay me more for my totalled car?
• Does my personal policy cover me when driving out-of-state?
• Where can I find high-risk insurance?

If you don’t know the answers to these questions but you know they apply to you, you might consider talking to a licensed insurance agent. If you don’t have a local agent, take a second and complete this form. It’s fast, free and you can get the answers you need.

Insurance advertising gotchas

Consumers get pounded daily by advertisements that claim the best prices by companies like Progressive, Geico, Allstate and State Farm. They all try to convey promises that drivers can save some big amount if you move your policy.

How does every insurance company say the same thing?

Insurance companies give the best rates for the right customer that is profitable for them. An example of this type of driver may need to be between the ages of 30 and 50, insures multiple vehicles, and drives less than 10,000 miles a year. A driver that hits that “sweet spot” receives the best premium rates as well as save quite a bit of money when switching.

People who fall short of those criteria will have to pay a higher rate and ends up with business not being written. If you listen to the ad wording, they say “drivers who switch” not “everybody who quotes” can save as much as they claim. That’s the way insurance companies can make claims that they all have the best premium rates. This really emphasizes why it’s extremely important to compare price quotes frequently. Because you cannot predict which insurance companies will fit your personal profile best.

Insurance coverage basics

Understanding the coverages of insurance helps when choosing which coverages you need for your vehicles. Policy terminology can be ambiguous and even agents have difficulty translating policy wording.

Collision coverage protection

Collision coverage covers damage to your Corvette from colliding with a stationary object or other vehicle. You have to pay a deductible then the remaining damage will be paid by your insurance company.

Collision coverage pays for claims like crashing into a building, sideswiping another vehicle, colliding with another moving vehicle and hitting a parking meter. Collision coverage makes up a good portion of your premium, so consider dropping it from older vehicles. Drivers also have the option to increase the deductible to bring the cost down.

Uninsured/Underinsured Motorist coverage

Uninsured or Underinsured Motorist coverage protects you and your vehicle from other drivers when they are uninsured or don’t have enough coverage. Covered losses include injuries to you and your family and damage to your Chevy Corvette.

Because many people only carry the minimum required liability limits, it only takes a small accident to exceed their coverage. So UM/UIM coverage should not be overlooked.

Comprehensive coverage

This pays for 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 things like theft, damage from flooding, hitting a bird, rock chips in glass and falling objects. 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 it’s not worth carrying full coverage.

Medical payments coverage and PIP

Coverage for medical payments and/or PIP kick in for expenses for surgery, EMT expenses and doctor visits. The coverages can be used in conjunction with a health insurance policy or if you do not have health coverage. Medical payments and PIP cover you and your occupants and will also cover being hit by a car walking across the street. PIP is not universally available and gives slightly broader coverage than med pay

Liability coverages

Liability coverage provides protection from damage or injury you incur to other’s property or people. It consists of three limits, bodily injury for each person, bodily injury for the entire accident, and a limit for property damage. Your policy might show limits of 100/300/100 that means you have $100,000 bodily injury coverage, a limit of $300,000 in injury protection per accident, and a limit of $100,000 paid for damaged property.

Liability can pay for things such as court costs, funeral expenses and emergency aid. How much liability should you purchase? That is your choice, but buy as much as you can afford.

Be a Smart Shopper

Throughout this article, we presented many tips how you can shop for 2018 Chevy Corvette insurance online. It’s most important to understand that the more rate quotes you have, the better chance you’ll have of finding cheaper car insurance. You may even find the lowest rates are with a lesser-known regional company.

Drivers leave their current company for a number of reasons such as denial of a claim, being labeled a high risk driver, an unsatisfactory settlement offer and high prices. No matter why you want to switch, switching companies is less work than it seems.

More affordable car insurance is attainable from both online companies as well as from independent agents, so you should compare both to have the best rate selection. There are still a few companies who may not have the ability to get quotes online and many times these smaller companies only sell through local independent agents.

For more information, take a look at the following helpful articles:

• How to Avoid Common Accidents (State Farm)
• Uninsured Motorist Statistics (Insurance Information Insitute)
• Auto Insurance Basics (Insurance Information Insitute)
• Red Light Cameras (State Farm)

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