2003 Chevrolet Corvette Insurance Quotes – 8 Tips for Cheaper Rates

No one in their right mind rejoices having to buy insurance coverage, in particular when the price is too high. There are many auto insurance companies to choose from, and even though it’s nice to have a choice, so many choices can make it hard to locate the cheapest rates.

Take advantage of these eight discounts

Properly insuring your vehicles can get expensive, but there could be available discounts that can drop the cost substantially. Some discounts will apply at quote time, but a few must be manually applied before you get the savings.

  • Sign Online – A few companies will provide an incentive for buying your policy on your computer.
  • No Claims – Claim-free drivers can save substantially as compared to policyholders that have many claims.
  • Defensive Driver Discounts – Completing a course that instructs on driving safety may get you a small discount if you qualify.
  • Distant Student Discount – College-age children who live away from home at college and don’t have a car may qualify for this discount.
  • Good Student – Maintaining excellent grades may save as much as 25% on a insurance quote. Many companies even apply the discount to college students until age 25.
  • Early Switch Discount – A few larger companies offer discounts for switching to them early. You may see this discount when you get insurance quotes online.
  • Low Miles Discount – Keeping the miles down on your Chevy may allow you to get substantially lower premium rates.
  • Military Discounts – Having a deployed family member may lower your premium rates slightly.

It’s important to understand that most credits do not apply to the entire cost. Most only apply to the cost of specific coverages such as physical damage coverage or medical payments. So even though you would think you would end up receiving a 100% discount, you won’t be that lucky. Any qualifying discounts will help reduce your overall premium however.

Companies and some of the premium reductions they offer are detailed below.

  • State Farm offers discounts including defensive driving training, accident-free, Drive Safe & Save, passive restraint, and good student.
  • Progressive offers premium reductions for continuous coverage, good student, online signing, homeowner, multi-vehicle, and multi-policy.
  • Progressive discounts include multi-policy, continuous coverage, good student, online quote discount, multi-vehicle, online signing, and homeowner.
  • MetLife includes discounts for multi-policy, accident-free, defensive driver, good student, and good driver.
  • Farm Bureau offers discounts for good student, multi-vehicle, renewal discount, multi-policy, and youthful driver.
  • Geico policyholders can earn discounts including emergency military deployment, multi-policy, anti-theft, military active duty, and anti-lock brakes.
  • SAFECO may include discounts for safe driver, teen safe driver, drive less, anti-lock brakes, anti-theft, accident prevention training, and homeowner.

Before purchasing a policy, check with all companies you are considering which discounts they offer. Some discounts listed above may not apply in every state. If you would like to see a list of companies with discount car insurance rates, click here.

Special considerations

When buying proper insurance coverage for your personal vehicles, there isn’t really a “best” method to buy coverage. Everyone’s situation is unique and a cookie cutter policy won’t apply. For example, these questions can help discover whether you might need professional guidance.

  • Can I rate high risk drivers on liability-only vehicles?
  • When should I buy a commercial auto policy?
  • When should I not file a claim?
  • How can I force my company to pay a claim?
  • What is the difference between comprehensive and collision coverage?
  • Should I buy full coverage?
  • Is extra glass coverage worth it?
  • I have health insurance so do I need medical payments coverage?
  • Am I covered when pulling a rental trailer?

If you’re not sure about those questions but one or more may apply to you then you might want to talk to a licensed agent. To find lower rates from a local agent, simply complete this short form or you can also visit this page to select a carrier It’s fast, free and you can get the answers you need.

Specifics of your car insurance policy

Understanding the coverages of car insurance aids in choosing the best coverages and proper limits and deductibles. The coverage terms in a policy can be difficult to understand and coverage can change by endorsement. Shown next are typical coverages available from car insurance companies.

Auto liability

Liability insurance can cover injuries or damage you cause to other people or property in an accident. It consists of three limits, per person bodily injury, per accident bodily injury, and a property damage limit. As an example, you may have liability limits of 50/100/50 that translate to a $50,000 limit per person for injuries, $100,000 for the entire accident, and property damage coverage for $50,000.

Liability insurance covers claims like legal defense fees, court costs, repair costs for stationary objects, structural damage and medical services. How much liability coverage do you need? That is up to you, but it’s cheap coverage so purchase higher limits if possible.

Uninsured Motorist or Underinsured Motorist insurance

This coverage gives you protection when the “other guys” either are underinsured or have no liability coverage at all. Covered losses include injuries sustained by your vehicle’s occupants as well as your vehicle’s damage.

Due to the fact that many drivers only purchase the least amount of liability that is required, it doesn’t take a major accident to exceed their coverage limits. So UM/UIM coverage is very important.

Insurance for medical payments

Personal Injury Protection (PIP) and medical payments coverage pay for bills for things like ambulance fees, nursing services, dental work, prosthetic devices and doctor visits. The coverages can be used to fill the gap from your health insurance policy or if there is no health insurance coverage. Coverage applies to all vehicle occupants in addition to being hit by a car walking across the street. PIP coverage is only offered in select states but it provides additional coverages not offered by medical payments coverage

Collision coverage protection

This coverage pays for damage to your Corvette 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 protects against things like backing into a parked car, colliding with a tree, crashing into a ditch and hitting a parking meter. This coverage can be expensive, so you might think about dropping it from older vehicles. Drivers also have the option to bump up the deductible to get cheaper collision coverage.

Comprehensive coverage (or Other than Collision)

This coverage covers damage from a wide range of events other than collision. You need to pay your deductible first and the remainder of the damage will be paid by comprehensive coverage.

Comprehensive coverage pays for claims such as hitting a bird, vandalism and a broken windshield. The highest amount a car insurance company will pay at claim time is the cash value of the vehicle, so if the vehicle’s value is low consider removing comprehensive coverage.

Smart shoppers get results

As you go through the steps to switch your coverage, do not buy less coverage just to save a little money. There are a lot of situations where an insured cut liability limits or collision coverage and learned later that it was a big error on their part. Your objective should be to buy enough coverage at a price you can afford, but do not skimp to save money.

Discount 2003 Chevy Corvette insurance is available from both online companies in addition to local insurance agencies, so you need to shop insurance with both in order to have the best price selection to choose from. Some insurance companies do not offer internet price quotes and many times these regional carriers only sell through independent insurance agencies.

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