2003 Chevrolet Corvette Insurance Rates – 6 Tips for Best Quotes

Trying to find better car insurance rates for your Chevrolet Corvette? Expensive car insurance can dwindle your checking account and force you to make sacrifices. Comparing price quotes is a smart way to help make ends meet. Lots of insurers contend to insure your vehicles, and because of this it can be hard to compare car insurance companies to find the best rate

You probably qualify for some discounts

Companies that sell car insurance don’t always advertise every discount very well, so we break down some of the best known as well as the least known insurance savings. If you don’t get every credit you deserve, you’re just leaving money on the table.

  • No Claims – Claim-free drivers pay less as compared to bad drivers.
  • Discount for New Cars – Adding a new car to your policy can cost up to 25% less because new vehicles have to meet stringent safety requirements.
  • Drivers Ed for Students – Require your teen driver to successfully complete driver’s ed class if offered at their school.
  • Accident Forgiveness – Certain companies will allow you to have one accident before your rates go up if you are claim-free for a particular time prior to the accident.
  • Clubs and Organizations – Participating in certain professional organizations is a good way to get lower rates when buying insurance on Corvette insurance.
  • Payment Discounts – If paying your policy premium upfront instead of paying each month you could save up to 5%.

Consumers should know that most credits do not apply to all coverage premiums. Most only reduce specific coverage prices like liability and collision coverage. So even though it sounds like it’s possible to get free car insurance, it just doesn’t work that way.

For a list of providers offering insurance discounts, click here.

There’s no such thing as the perfect policy

When choosing the best car insurance coverage for your personal vehicles, there isn’t really a single plan that fits everyone. Your needs are not the same as everyone else’s so your insurance should reflect that For example, these questions might help in determining if your situation would benefit from an agent’s advice.

  • Does my policy cover me when driving someone else’s vehicle?
  • Should I get collision insurance on every vehicle?
  • How much liability do I need to cover my assets?
  • Is my teenager covered with friends in the car?
  • Are split liability limits better than a combined single limit?
  • Is my Chevy Corvette covered if I use it for business?
  • Why do I need rental car insurance?
  • Should I waive the damage coverage when renting a car?
  • Does my insurance cover damage caused when ticketed for reckless driving?
  • Do I need higher collision deductibles?

If you can’t answer these questions, then you may want to think about talking to a licensed agent. To find an agent in your area, take a second and complete this form or you can also visit this page to select a carrier It’s fast, free and can help protect your family.

Do drivers who switch really save $395 a year?

Consumers constantly see and hear ads that promise big savings from companies such as State Farm, Allstate and GEICO. They all have a common claim about savings after switching your policy.

How can each company make the same claim?

All the different companies are able to cherry pick for the driver that earns them a profit. For example, a driver they prefer might be between 25 and 40, owns a home, and has a short commute. A customer getting a price quote who matches those parameters will get very good rates and most likely will save a lot of money.

Potential insureds who fall outside the requirements must pay a more expensive rate and ends up with business not being written. The ads say “people who switch” not “people who quote” save that much money. That’s why insurance companies can confidently advertise the savings. This illustrates why you absolutely need to get a wide range of price quotes. It’s just too difficult to predict which insurance company will fit your personal profile best.

Auto insurance coverages and their meanings

Having a good grasp of your policy helps when choosing appropriate coverage for your vehicles. The coverage terms in a policy can be impossible to understand and reading a policy is terribly boring. Shown next are typical coverage types found on the average auto insurance policy.

Uninsured/Underinsured Motorist coverage

Your UM/UIM coverage protects you and your vehicle’s occupants when the “other guys” do not carry enough liability coverage. Covered losses include injuries sustained by your vehicle’s occupants as well as damage to your Chevy Corvette.

Due to the fact that many drivers only carry the minimum required liability limits, it doesn’t take a major accident to exceed their coverage limits. For this reason, having high UM/UIM coverages is a good idea.

Comprehensive coverage

Comprehensive insurance coverage pays for damage from a wide range of events other than collision. You first must pay your deductible then your comprehensive coverage will pay.

Comprehensive insurance covers claims such as damage from flooding, hail damage, a tree branch falling on your vehicle and hitting a bird. The highest amount you can receive from a comprehensive claim is the market value of your vehicle, so if the vehicle is not worth much consider removing comprehensive coverage.

Collision coverage protection

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

Collision coverage pays for claims like colliding with another moving vehicle, driving through your garage door, damaging your car on a curb, backing into a parked car and scraping a guard rail. Paying for collision coverage can be pricey, so you might think about dropping it from vehicles that are 8 years or older. Another option is to choose a higher deductible to get cheaper collision coverage.

Liability car insurance

This coverage provides protection from damage that occurs to people or other property in an accident. This coverage protects you from claims by other people. Liability doesn’t cover your own vehicle damage or injuries.

It consists of three limits, bodily injury for each person injured, bodily injury for the entire accident and a property damage limit. You commonly see values of 25/50/25 which means a limit of $25,000 per injured person, a limit of $50,000 in injury protection per accident, and $25,000 of coverage for damaged propery.

Liability coverage protects against things like repair bills for other people’s vehicles, bail bonds, repair costs for stationary objects and funeral expenses. How much liability should you purchase? That is a personal decision, but consider buying as large an amount as possible.

Medical payments coverage and PIP

Medical payments and Personal Injury Protection insurance pay for bills for things like EMT expenses, doctor visits and prosthetic devices. They are often used in conjunction with a health insurance program or if you lack health insurance entirely. Medical payments and PIP cover not only the driver but also the vehicle occupants in addition to any family member struck as a pedestrian. Personal Injury Protection is only offered in select states and gives slightly broader coverage than med pay

Feed the piggy bank

You just read a lot of ways to lower your 2003 Chevy Corvette insurance rates. The key thing to remember is the more rate quotes you have, the better your chances of lowering your rates. You may be surprised to find that the biggest savings come from some of the lesser-known companies. Some small companies may have significantly lower rates on certain market segments than their larger competitors like GEICO and State Farm.

When trying to cut insurance costs, never sacrifice coverage to reduce premiums. In many cases, drivers have reduced liability limits or collision coverage only to find out that the savings was not a smart move. The ultimate goal is to buy the best coverage you can find at the best price while not skimping on critical coverages.

Additional auto insurance information is available below: