2007 Chevrolet Corvette Insurance Rates – 9 Ways to Save

Getting affordable auto insurance over the internet may seem to be somewhat difficult for price shopping online. With so many insurers to choose from, how are people expected to efficiently compare the different rates to find better rates?

You should make it a habit to shop coverage around as often as possible because insurance prices trend upward over time. Just because you had the best quotes on Corvette coverage a year ago you can probably find a lower rate today. There is a lot of wrong information about auto insurance online but in this article, you’re going to get a lot of great tips on how to quit paying high auto insurance rates.

Discount auto insurance rates

Car insurance companies don’t list every policy discount very well, so the following is a list of a few of the more common as well as the least known credits available to lower your premiums when you buy auto insurance online.

• Accident Free – Insureds who avoid accidents and claims get the best auto insurance rates compared to insureds who have frequent claims or accidents.
• College Student – who attend college more than 100 miles from home and do not take a car to college may qualify for this discount.
• Smart Student Discounts – Performing well in school can save 20 to 25%. Earning this discount can benefit you well after school through age 25.
• Full Payment Discount – If you can afford to pay the entire bill as opposed to paying monthly you can avoid monthly service charges.
• Discount for Life Insurance – Not all auto insurance companies offer life insurance, but some may give you a break if you buy auto and life insurance together.
• Braking Control Discount – Vehicles with ABS and/or traction control are safer to drive so you can save 10 percent or more.
• Low Miles Discount – Fewer annual miles on your Chevy could qualify for lower auto insurancerates on the low mileage vehicles.
• Use Seat Belts – Requiring all passengers to fasten their seat belts can save 10% or more off the medical payments premium.
• Military Discounts – Being on active deployment in the military could trigger a small discount.

As a sidenote, most of the big mark downs will not be given to the overall cost of the policy. Most cut the cost of specific coverages such as liability, collision or medical payments. Even though it appears having all the discounts means you get insurance for free, you’re out of luck.

Insurance companies that may offer policyholders these discounts may include but are not limited to:

• Mercury Insurance
• Farmers Insurance
• Farm Bureau
• State Farm
• Allstate
• Geico

When quoting, ask all the companies to apply every possible discount. Some of the earlier mentioned discounts may not apply to policyholders in your state. For a list of insurance companies who offer auto insurance discounts, click here to view.

Tailor your insurance coverage coverage to you

When it comes to choosing the best insurance coverage coverage, there really is no cookie cutter policy. Every situation is different.

Here are some questions about coverages that can aid in determining whether your personal situation will benefit from professional help.

• Does insurance cover damages from a DUI accident?
• Can I rate high risk drivers on liability-only vehicles?
• Are there companies who specialize in insuring high-risk drivers?
• How can I get my company to pay me more for my totalled car?
• What if I owe more than I can insure my car for?
• Are rental cars covered under my policy?

If you can’t answer these questions but you know they apply to you then you might want to talk to a licensed agent. If you don’t have a local agent, complete this form.

Car insurance 101

Knowing the specifics of your insurance policy aids in choosing the best coverages for your vehicles. The coverage terms in a policy can be impossible to understand and even agents have difficulty translating policy wording.

Collision coverage – This pays for damage to your Corvette from colliding with another vehicle or an object, but not an animal. You will need to pay your deductible and the rest of the damage will be paid by collision coverage.

Collision can pay for claims like crashing into a building, crashing into a ditch, rolling your car and sustaining damage from a pot hole. Collision is rather expensive coverage, so analyze the benefit of dropping coverage from vehicles that are 8 years or older. Another option is to choose a higher deductible to get cheaper collision coverage.

Uninsured/Underinsured Motorist coverage – Your UM/UIM coverage provides protection from other motorists when they do not carry enough liability coverage. It can pay for injuries sustained by your vehicle’s occupants and damage to your Chevy Corvette.

Due to the fact that many drivers only carry the minimum required liability limits, their liability coverage can quickly be exhausted. For this reason, having high UM/UIM coverages is very important.

Comprehensive coverage – Comprehensive insurance coverage covers 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 insurance covers claims like a broken windshield, damage from getting keyed, vandalism and hail damage. The maximum payout your insurance company will pay is the ACV or actual cash value, so if the vehicle is not worth much consider removing comprehensive coverage.

Coverage for liability – Liability insurance can cover damage or injury you incur to other people or property. This coverage protects you against other people’s claims. Liability doesn’t cover damage to your own property or vehicle.

Liability coverage has three limits: bodily injury for each person, bodily injury for the entire accident, and a limit for property damage. You might see limits of 25/50/25 which means $25,000 in coverage for each person’s injuries, a limit of $50,000 in injury protection per accident, and a limit of $25,000 paid for damaged property.

Liability can pay for things like medical expenses, pain and suffering, structural damage, medical services and emergency aid. How much liability should you purchase? That is a decision to put some thought into, but it’s cheap coverage so purchase as large an amount as possible.

Medical payments coverage and PIP – Coverage for medical payments and/or PIP pay for immediate expenses like ambulance fees, chiropractic care, hospital visits and rehabilitation expenses. The coverages can be used to cover expenses not covered by your health insurance policy or if you are not covered by health insurance. It covers both the driver and occupants and will also cover any family member struck as a pedestrian. Personal Injury Protection is not available in all states and gives slightly broader coverage than med pay

One last thing

People switch companies for a variety of reasons including poor customer service, questionable increases in premium, delays in responding to claim requests and even extreme rates for teen drivers. Regardless of your reason, finding a great new company can be pretty painless.

Some insurance providers do not offer the ability to get a quote online and many times these smaller providers provide coverage only through independent agents. Discount 2007 Chevy Corvette insurance is attainable from both online companies as well as from independent agents, and you should compare rates from both in order to have the best price selection to choose from.

When searching for the cheapest auto insurance quotes, don’t be tempted to buy lower coverage limits just to save a few bucks. In many instances, drivers have reduced comprehensive coverage or liability limits and discovered at claim time they didn’t purchase enough coverage. Your focus should be to buy the best coverage you can find for the lowest cost while still protecting your assets.

Additional articles

• What Does No-Fault Insurance Cover? (Allstate)
• Your Car has been Stolen: Now What? (Allstate)
• Insurance Losses by Make and Model (iihs.org)
• Safe Vehicles for Teens (iihs.org)