2009 Chevrolet Corvette Insurance Rates

Searching for the cheapest insurance coverage rates for your Chevrolet Corvette? Are you sick and tired of paying out the nose to pay insurance coverage each month? You have the same problem as many other consumers.

Due to the fact that there are so many companies and agents to choose from, it is very difficult to pick a more affordable insurance coverage company.

You should take the time to price shop coverage once or twice a year because prices change regularly. If you had the lowest price for Corvette coverage a few years ago you may be paying too much now. There is a lot of bad information regarding insurance coverage online, but we’re going to give you some solid techniques on how to save money.

Which insurance is cheapest?

There are several ways to shop for insurance, but there is one way that is more efficient than others. You can spend your afternoon driving to insurance companies in your area, or you could save time and use online quotes to achieve your goal.

Most of the best insurance companies participate in a marketplace that enables customers to only type in their quote data once, and every company then returns a price quote determined by their information. This eliminates the need for quote requests to every company. To compare rates using this form now click here to open in new window.

The only drawback to comparing rates this way is buyers cannot specifically choose which providers you will receive quotes from. So if you prefer to pick specific providers to receive pricing from, we put together a list of companies who write insurance in your area. Click here for list of insurance companies.

Which method you use is up to you, but be certain you are entering the exact same coverage data with every price quote. If you enter differing limits it’s impossible to truly determine the lowest rate. Slightly different insurance coverages or limits can make a big difference in price. It’s important to know that comparing more rates from different companies will enable you to find lower pricing. Some insurance companies are not set up to provide online quotes, so it’s important to compare price estimates from them, too.

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Auto insurance ads bend the truth

Well-known auto insurance companies like State Farm, Geico and Progressive consistently run television and radio advertisements. All the companies advertise claims that people will save if you just switch your policy. How does every auto insurance company save you money? This is how they do it.

Most companies have strict underwriting profiles for the type of customer that makes them money. One example of a profitable customer might be described as a married male, has never had a claim, and drives less than 10,000 miles a year. A driver who matches those parameters will get the preferred car insurance rates and will most likely save some money.

Potential insureds who do not fit the ideal profile may be forced to pay higher prices and this can result in the customer buying from a different company. Company advertisements say “people that switch” but not “all drivers who get quotes” save that much money. This is how insurance companies can confidently claim big savings. Because of these techniques, you really should do a price quote comparison at every renewal. You cannot predict the company that will have the best prices at this point in time.

Educated choices result in lower insurance prices

Lots of things are used in the calculation when pricing auto insurance. Some are obvious such as traffic violations, but some are not as apparent such as whether you are married or your vehicle rating.

• Lower premiums with alarm systems – Selecting a car model that has an advanced theft prevention system can help lower your rates. Theft prevention devices such as OnStar found on GM vehicles, advanced tracking like LoJack, and vehicle immobilization systems help track and prevent your car from being stolen.
• Raise physical damage deductibles and save – Physical damage coverage, also called comprehensive and collision insurance, is used to repair damage to your Chevy. Some examples of covered claims could be collision with another vehicle, damage caused by hail, and burglary. The deductibles you choose state the amount of money you are willing to pay if the claim is covered. The more expense you are required to pay out-of-pocket, the less your company will charge you for insurance for Corvette coverage.
• Annual mileage impacts premiums – Driving a lot of miles in a year’s time the higher your rates will be. The majority of insurers rate vehicles partially by how you use the vehicle. Cars and trucks that do not get driven very much receive better premium rates as compared to vehicles used primarily for driving to work. Double check that your insurance coverage policy reflects the correct usage for each vehicle, because it can save money. A policy that improperly rates your Corvette is just wasting money.
• Urban areas may pay more – Choosing to live in less populated areas is a good thing when talking about insurance coverage. People in densly populated areas tend to have much more traffic and much longer commute distances. Fewer drivers on the road means fewer accidents and also fewer theft and vandalism claims.
• Single drivers take more risk – Being married can actually save you money on your insurance coverage bill. It translates into being more financially stable and statistics show drivers who are married are more cautious.
• Lower prices with continuous coverage – Having a lapse in insurance coverage can be a sure-fire way to trigger a rate increase. In addition to paying higher rates, getting caught without coverage may earn you fines and jail time. You will then be forced to submit proof of financial responsibility or a SR-22 with your state motor vehicle department to get your license reinstated.

More discounts mean affordable premiums

Car insurance can cost a lot, but you might already qualify for some discounts that could help you make your next renewal payment. Larger premium reductions will be automatically applied at quote time, but some need to be requested specifically before you get the savings. If you don’t get every credit you qualify for, you could be paying more than you need to.

• Federal Employees – Being employed by or retired from a federal job could cut as much as 10% off for Corvette coverage with certain companies.
• Early Renewal Discounts – A few insurance companies give discounts for switching to them prior to your current policy expiration. Ten percent is about the average savings.
• Student Discounts – A discount for being a good student may save you up to 25%. You can use this discount normally up to age 25.
• Pay Upfront and Save – By paying your policy upfront rather than spreading payments over time you can avoid the installment charge.
• Senior Citizen Rates – If you qualify as a senior citizen, you can get a slight reduction on a insurance coverage quote for Corvette coverage.

Remember that many deductions do not apply to the overall cost of the policy. Some only reduce individual premiums such as liability, collision or medical payments. So even though you would think all the discounts add up to a free policy, it doesn’t quite work that way.

A few companies that may offer quotes with some of the discounts shown above are:

• Geico
• Travelers
• Farm Bureau
• Liberty Mutual
• American Family
• Progressive

Before purchasing a policy, check with each insurance company which discounts you may be entitled to. Some discounts might not apply in your area.

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It’s not one size fits all

When it comes to choosing coverage for your vehicles, there isn’t really a best way to insure your cars. Everyone’s needs are different and your policy should reflect that. These are some specific questions could help you determine if your situation will benefit from professional help.

• How high should my uninsured/underinsured coverage be in my state?
• Do I need more liability coverage?
• Is my teenager covered with friends in the car?
• Will my rates increase for filing one claim?
• Does my insurance cover a custom paint job?
• Why does it cost so much to insure a teen driver?
• Should I bundle my homeowners policy with my auto?

If you don’t know the answers to these questions but one or more may apply to you, then you may want to think about talking to an agent. To find lower rates from a local agent, simply complete this short form or click here for a list of insurance companies in your area.

Car insurance coverage information

Having a good grasp of a auto insurance policy can help you determine which coverages you need and proper limits and deductibles. Policy terminology can be impossible to understand and reading a policy is terribly boring. Listed below are typical coverage types offered by auto insurance companies.

Collision insurance

This pays to fix your vehicle from damage resulting from colliding with a stationary object or other vehicle. You have to pay a deductible and the rest of the damage will be paid by collision coverage.

Collision coverage pays for claims such as driving through your garage door, rolling your car, crashing into a building and colliding with a tree. Collision is rather expensive coverage, so you might think about dropping it from vehicles that are 8 years or older. Drivers also have the option to increase the deductible in order to get cheaper collision rates.

Uninsured and underinsured coverage

Your UM/UIM coverage protects you and your vehicle when the “other guys” either are underinsured or have no liability coverage at all. Covered claims include hospital bills for your injuries and damage to your Chevy Corvette.

Since many drivers only carry the minimum required liability limits, it only takes a small accident to exceed their coverage. That’s why carrying high Uninsured/Underinsured Motorist coverage should not be overlooked.

Coverage for medical payments

Personal Injury Protection (PIP) and medical payments coverage kick in for short-term medical expenses for things like doctor visits, pain medications and rehabilitation expenses. They can be used in conjunction with a health insurance policy or if you do not have health coverage. They cover not only the driver but also the vehicle occupants as well as if you are hit as a while walking down the street. PIP coverage is only offered in select states but it provides additional coverages not offered by medical payments coverage

Coverage for liability

This will cover damages or injuries you inflict on a person or their property by causing an accident. This insurance protects YOU from legal claims by others. It does not cover your own vehicle damage or injuries.

Coverage consists of three different limits, bodily injury for each person injured, bodily injury for the entire accident and a property damage limit. As an example, you may have policy limits of 100/300/100 which stand for a $100,000 limit per person for injuries, a per accident bodily injury limit of $300,000, and a total limit of $100,000 for damage to vehicles and property.

Liability coverage pays for things like court costs, medical expenses and loss of income. The amount of liability coverage you purchase is a personal decision, but consider buying higher limits if possible.

Comprehensive coverages

Comprehensive insurance coverage pays for damage OTHER than collision with another vehicle or object. You need to pay your deductible first then the remaining damage will be covered by your comprehensive coverage.

Comprehensive coverage protects against things like vandalism, a broken windshield, damage from flooding, hitting a bird and damage from a tornado or hurricane. The maximum amount you can receive from a comprehensive claim is the actual cash value, so if your deductible is as high as the vehicle’s value it’s probably time to drop comprehensive insurance.

Be Smart and Buy Smart

We’ve covered many tips how you can reduce 2009 Chevy Corvette insurance premium rates online. The key concept to understand is the more companies you get prices for, the better likelihood of getting cheaper insurance coverage. You may be surprised to find that the most savings is with a smaller regional carrier. Some small companies can often insure niche markets at a lower cost than their larger competitors like State Farm or Progressive.

As you shop your coverage around, don’t be tempted to buy poor coverage just to save money. In too many instances, an accident victim reduced collision coverage only to regret at claim time that the savings was not a smart move. The aim is to buy enough coverage at the best price, but don’t skip important coverages to save money.

Other learning opportunities

• Protect Yourself Against Auto Theft (Insurance Information Insitute)
• Five Mistakes to Avoid (Insurance Information Insitute)
• Think You’re a Safe Driver? (State Farm)
• Understanding Car Crashes Video (iihs.org)
• Tread Depth and Tire Safety (State Farm)

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