1998 Chevrolet Corvette Insurance Cost

Pricey insurance coverage can stress out your monthly budget and make it hard to pay other bills. Due to the large number of insurance providers from which to choose, it is very difficult to pick the right insurer.

Compare car insurance quotes

There are several ways you can shop for car insurance and some are easier and takes less work. You can waste a few hours (or days) discussing policy coverages with insurance agencies in your area, or you could use the web to get pricing more quickly.

Most major companies participate in a marketplace where insurance shoppers only type in their quote data once, and each participating company returns a rated price for coverage. This system prevents you from having to do form submissions to every company. To compare pricing click here to start a free quote.

The one downside to using this type of form is that consumers can’t choose the companies to get quotes from. So if you prefer to pick specific providers to compare, we have a listing of low cost car insurance companies in your area. Click here to view list.

Take whichever approach you prefer, but be sure you’re using the same quote information with each company. If you compare different deductibles it will be nearly impossible to make a fair comparison for your Chevy Corvette.

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Use discounts to get cheaper car insurance rates

Car insurance companies don’t always publicize every discount they offer in a way that’s easy to find, so below is a list some of the best known as well as some of the hidden ways to save on car insurance.

• Passenger Safety Discount – Cars that have air bags or automatic seat belts may qualify for discounts of 20 to 30 percent.
• 55 and Retired – Drivers over the age of 55 can possibly qualify for a small discount on rates for Corvette coverage.
• Distant College Student Discount – who live away from home to go to college and do not have access to a covered vehicle may qualify for this discount.
• Homeowners Discount – Just owning your own home may trigger a policy discount on car insurance because owning a home is proof of financial responsibility.
• Military Discounts – Having a deployed family member may qualify for rate reductions.
• Bundled Policy Discount – If you insure your home and vehicles and insure them with the same company you could get a discount of at least 10 to 15 percent or more.
• Membership in Organizations – Being a member of a qualifying organization may earn a discount on car insurance.
• Low Mileage – Maintaining low annual mileage can earn lower rates due to less chance of an accident.

As a sidenote, some credits don’t apply to your bottom line cost. The majority will only reduce the price of certain insurance coverages like collision or personal injury protection. So when it seems like you could get a free car insurance policy, you aren’t that lucky.

Larger car insurance companies and the discounts they provide are shown below.

• Progressive may include discounts for online quote discount, online signing, continuous coverage, good student, and multi-vehicle.
• Geico has discounts for anti-lock brakes, anti-theft, military active duty, membership and employees, and defensive driver.
• State Farm may offer discounts for good driver, multiple policy, safe vehicle, accident-free, passive restraint, and Steer Clear safe driver discount.
• Esurance discounts include anti-lock brakes, anti-theft, emergency road assistance, DriveSense, and defensive driver.
• The Hartford offers discounts including vehicle fuel type, bundle, defensive driver, driver training, air bag, good student, and anti-theft.

When getting a coverage quote, ask each company or agent which discounts you may be entitled to. All car insurance discounts might not be offered in every state. To view insurance companies with discount rates, click here to view.

Tailor your car insurance coverage to you

When it comes to buying the right insurance coverage for your vehicles, there isn’t really a “perfect” insurance plan. Coverage needs to be tailored to your specific needs and a cookie cutter policy won’t apply. These are some specific questions might point out if you might need an agent’s assistance.

• What is the minimum liability in my state?
• How many claims can I have before being cancelled?
• Which companies will insure high-risk drivers?
• Do I need special endorsements for business use of my vehicle?
• Is my teenager covered with friends in the car?
• Can I rent a car in Mexico?
• Is my cargo covered for damage or theft?
• Do I have coverage when using my vehicle for my home business?
• Am I covered when pulling a rental trailer?

If it’s difficult to answer those questions but a few of them apply, then you may want to think about talking to an agent. If you want to speak to an agent in your area, fill out this quick form or click here for a list of car insurance companies in your area. It’s fast, doesn’t cost anything and can provide invaluable advice.

Smart choices result in lower insurance prices

Many different elements are considered when pricing auto insurance. Some are obvious such as your driving history, but other factors are less obvious such as whether you are married or how safe your car is.

• Increase coverage deductibles to save – Physical damage coverage, also called ‘full coverage’, helps pay for damage to your vehicle. Examples of covered claims could be colliding with a building, damage caused by hail, and burglary. Physical damage deductibles are the amount of money you are required to spend out-of-pocket in the event of a claim. The more you are required to pay out-of-pocket, the lower your rates will be for Corvette coverage.
• Car and home together may be cheaper – Most larger insurance companies apply a discount to people who buy several policies from them such as combining an auto and homeowners policy. Discounts can add up to as much as ten percent or more If you currently are using one company, it’s always a smart idea to compare other company rates to make sure you are getting the best deal. Consumers may find a better deal by insuring with multiple companies.
• Premiums are high for teenagers – Older drivers tend to be more responsible, statistically cause fewer accidents and are safer drivers.Beginning drivers have a tendency to be careless and easily distracted when at the wheel of a vehicle therefore auto insurance rates are much higher.
• Rate your vehicle for proper use – The more you drive your Chevy in a year’s time the more you’ll pay to insure your vehicle. Almost all companies calculate prices partially by how you use the vehicle. Autos that sit idle most of the time receive better premium rates than those used for commuting. Ask your agent if your vehicle rating shows the correct usage for each vehicle, because improper ratings can cost you money. An improperly rated Corvette is throwing money out the window.
• Prices may be lower depending on your occupation – Do you have a high-stress occupation? Careers like military generalspolice officers and dentists generally have higher average rates in part from high stress levels and lengthy work days. On the other hand, careers such as actors, historians and homemakers generally pay rates lower than average for Corvette coverage.

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Car insurance coverage information

Knowing the specifics of a auto insurance policy can be of help when determining the right coverages at the best deductibles and correct limits. Policy terminology can be difficult to understand and even agents have difficulty translating policy wording. Shown next are typical coverages found on the average auto insurance policy.

Collision coverage

This coverage covers damage to your Corvette from colliding with another vehicle or an object, but not an animal. A deductible applies then your collision coverage will kick in.

Collision coverage protects against claims like hitting a mailbox, sustaining damage from a pot hole, colliding with a tree, sideswiping another vehicle and damaging your car on a curb. Collision coverage makes up a good portion of your premium, so consider removing coverage from vehicles that are 8 years or older. Drivers also have the option to choose a higher deductible to bring the cost down.

Comprehensive protection

This coverage covers damage that is not covered by collision coverage. You need to pay your deductible first then your comprehensive coverage will pay.

Comprehensive can pay for claims such as falling objects, vandalism, hitting a bird, a tree branch falling on your vehicle and a broken windshield. The maximum amount you can receive from a comprehensive claim is the market value of your vehicle, so if it’s not worth much more than your deductible it’s probably time to drop comprehensive insurance.

Coverage for liability

Liability coverage protects you from damage that occurs to other’s property or people that is your fault. This coverage protects you against claims from other people. Liability doesn’t cover damage sustained by your vehicle in an accident.

Liability coverage has three limits: bodily injury per person, bodily injury per accident and property damage. As an example, you may have liability limits of 50/100/50 that means you have $50,000 in coverage for each person’s injuries, $100,000 for the entire accident, and property damage coverage for $50,000. Another option is one limit called combined single limit (CSL) which provides one coverage limit with no separate limits for injury or property damage.

Liability coverage pays for claims such as bail bonds, structural damage, medical expenses and loss of income. How much liability should you purchase? That is up to you, but you should buy as much as you can afford.

Medical expense coverage

Personal Injury Protection (PIP) and medical payments coverage reimburse you for short-term medical expenses like surgery, EMT expenses, X-ray expenses and rehabilitation expenses. They can be used to fill the gap from your health insurance program or if you do not have health coverage. Coverage applies to both the driver and occupants and will also cover any family member struck as a pedestrian. PIP coverage is not an option in every state but it provides additional coverages not offered by medical payments coverage

Uninsured or underinsured coverage

Uninsured or Underinsured Motorist coverage protects you and your vehicle from other motorists when they either are underinsured or have no liability coverage at all. This coverage pays for medical payments for you and your occupants and damage to your 1998 Chevy Corvette.

Since many drivers have only the minimum liability required by law, it only takes a small accident to exceed their coverage. That’s why carrying high Uninsured/Underinsured Motorist coverage is a good idea. Most of the time these limits do not exceed the liability coverage limits.

Make a quick buck

When you buy auto insurance online, it’s a bad idea to buy lower coverage limits just to save a few bucks. Too many times, someone dropped comprehensive coverage or liability limits only to find out that saving that couple of dollars actually costed them tens of thousands. Your goal is to purchase a proper amount of coverage at a price you can afford.

Budget-conscious 1998 Chevy Corvette insurance can be bought from both online companies and from local insurance agents, and you should compare rates from both in order to have the best price selection to choose from. Some auto insurance companies don’t offer the ability to get quotes online and these regional carriers prefer to sell through independent insurance agents.

For more information, link through to these articles:

• Understanding Rental Car Insurance (Insurance Information Insitute)
• Coverage Information (Progressive Insurance)
• Bodily Injury Coverage (Liberty Mutual)
• Information for Teen Drivers (Geico)
• Older Driver Statistics (Insurance Information Insitute)

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