2002 Chevrolet Corvette Car Insurance Cost

Looking for lower auto insurance rates for your Chevrolet Corvette? Are you overwhelmed by the crazy number of auto insurance company choices? You’re not the only one! People have so many options available that it can easily become a challenge to find the perfect company for you.

It’s a great practice to compare prices yearly due to the fact that insurance rates are variable and change quite frequently. Despite the fact that you may have had the best price for Corvette coverage two years ago you may be paying too much now. Forget all the misinformation about auto insurance because I’m going to let you in on the secrets to the proper way to buy cheaper auto insurance.

If you currently have car insurance, you stand a good chance to be able to reduce your rates substantially using these techniques. Shopping for the lowest cost insurance coverage is simple if you know the tricks. But vehicle owners need to have an understanding of how the larger insurance companies compete online.

Verify you’re getting all your discounts

Companies that sell car insurance don’t necessarily list every discount in an easy-to-find place, so the following is a list of some of the best known and the harder-to-find discounts you could be receiving.

  • Multiple Vehicles – Buying insurance for multiple vehicles with the same company could earn a price break for each car.
  • Safe Drivers – Drivers who avoid accidents can pay as much as 50% less for Corvette coverage than drivers with accident claims.
  • Homeowners Pay Less – Owning a house may trigger a insurance policy discount due to the fact that maintaining a home shows financial diligence.
  • One Accident Forgiven – Certain companies allow you one accident before hitting you with a surcharge so long as you haven’t had any claims for a particular time prior to the accident.
  • Lower Rates for Military – Having a family member in the military could be rewarded with lower premiums.
  • Senior Citizens – If you qualify as a senior citizen, you can possibly qualify for a discount up to 10% for Corvette coverage.

Keep in mind that most credits do not apply to your bottom line cost. Most only cut the price of certain insurance coverages like comprehensive or collision. Even though it may seem like it’s possible to get free car insurance, insurance companies aren’t that generous.

For a list of providers with the best insurance discounts, follow this link.

When should I talk to an agent?

When it comes to choosing proper insurance coverage for your vehicles, there isn’t really a one size fits all plan. Everyone’s situation is unique.

These are some specific questions might point out if you could use an agent’s help.

  • Do I have coverage for damage caused while driving under the influence?
  • When does my teenage driver need to be added to my policy?
  • Is upholstery damage covered by car insurance?
  • Are there companies who specialize in insuring high-risk drivers?
  • Do I need more liability coverage?
  • Do I have newly-aquired coverage?

If you don’t know the answers to these questions then you might want to talk to an agent. To find an agent in your area, simply complete this short form.

Don’t believe everything you hear

Insurance coverage providers like State Farm, Allstate and GEICO constantly bombard you with ads on television and other media. They all make the same claim that you’ll save big if you switch to their company. How can each company claim to save you money?

All the different companies have a certain “appetite” for the driver that makes them money. For example, a preferred risk could possibly be a mature driver, has no prior claims, and drives less than 7,500 miles a year. A driver that hits that “sweet spot” gets the lowest rates and is almost guaranteed to cut their rates substantially.

Consumers who fall outside the “perfect” profile will be charged a higher premium which usually ends up with the customer not buying. The ads state “people who switch” not “people who quote” save that kind of money. That is how companies can truthfully claim big savings. That is why drivers must compare many company’s rates. Because you never know the company that will fit your personal profile best.

Car insurance coverage breakdown

Knowing the specifics of a car insurance policy helps when choosing the best coverages for your vehicles. The terms used in a policy can be ambiguous and coverage can change by endorsement.

Liability coverage

This will cover damage or injury you incur to people or other property. This insurance protects YOU against claims from other people. Liability doesn’t cover your injuries or vehicle damage.

Liability coverage has three limits: bodily injury for each person, bodily injury for the entire accident, and a limit for property damage. You commonly see liability limits of 25/50/25 which stand for a limit of $25,000 per injured person, a total of $50,000 of bodily injury coverage per accident, and a total limit of $25,000 for damage to vehicles and property.

Liability insurance covers claims like funeral expenses, medical expenses, medical services, structural damage and court costs. How much coverage you buy is your choice, but consider buying as large an amount as possible.

Med pay and Personal Injury Protection (PIP)

Medical payments and Personal Injury Protection insurance reimburse you for bills such as surgery, rehabilitation expenses, EMT expenses, pain medications and hospital visits. They are often utilized in addition to your health insurance plan or if you lack health insurance entirely. It covers all vehicle occupants in addition to any family member struck as a pedestrian. Personal injury protection coverage is only offered in select states and gives slightly broader coverage than med pay

Uninsured/Underinsured Motorist (UM/UIM)

Your UM/UIM coverage provides protection from other drivers when they either have no liability insurance or not enough. Covered losses include hospital bills for your injuries and also any damage incurred to your Chevy Corvette.

Because many people carry very low liability coverage limits, their limits can quickly be used up. This is the reason having UM/UIM coverage is a good idea.

Comprehensive insurance

Comprehensive insurance coverage covers 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 can pay for claims such as vandalism, damage from flooding and falling objects. The maximum amount your car insurance company will pay is the cash value of the vehicle, so if the vehicle is not worth much it’s probably time to drop comprehensive insurance.

Collision protection

This coverage covers damage to your Corvette from colliding with an object or car. You will need to pay your deductible and then insurance will cover the remainder.

Collision coverage pays for things such as sideswiping another vehicle, hitting a parking meter and colliding with a tree. This coverage can be expensive, so you might think about dropping it from vehicles that are older. Another option is to bump up the deductible to get cheaper collision coverage.

Feed the piggy bank

Cost effective 2002 Chevy Corvette insurance can be bought on the web as well as from independent agents, so you should be comparing quotes from both so you have a total pricing picture. Some insurance companies don’t offer online quoting and usually these smaller companies provide coverage only through local independent agents.

In this article, we covered some good ideas how you can get a better price on insurance. It’s most important to understand that the more companies you get rates for, the higher the chance of saving money. You may even discover the lowest premiums are with a smaller regional carrier.

As you go through the steps to switch your coverage, it’s very important that you do not sacrifice coverage to reduce premiums. Too many times, drivers have reduced liability limits or collision coverage only to find out that it was a big error on their part. Your strategy should be to buy the best coverage you can find at an affordable rate, not the least amount of coverage.

More tips and info about auto insurance can be found by following these links: