Lower Your 2006 Chevrolet Corvette Insurance Rates

Having to pay for expensive Chevrolet Corvette insurance can bottom out your funds and possibly require postponing other expenditures. Comparing price quotes can save money and help to make ends meet.

Numerous insurance companies battle for your hard-earned dollar, so it’s not easy to compare every provider to find the best rates possible.

Consumers should take time to check insurance prices quite often because insurance prices change frequently. Even if you think you had the best price for Corvette insurance a year ago you will most likely find a better rate today. Ignore everything you know about insurance because you’re going to get a crash course in the things you must know in order to lower your annual insurance bill.

Compare insurance coverage price quotes online

When comparison shopping, there are several ways of comparing rates from many available insurance coverage companies in your state. The fastest way to find the cheapest 2006 Chevy Corvette insurance rates is to jump online and get quotes. This is quite simple and can be completed using a couple different methods.

  1. If you don’t have a lot of time, the easiest way to find the lowest comparison rates would be an industry-wide quote request form (click to open form in new window). This style of form keeps you from doing a different quote for each company. In just a few minutes this one form gets insurance cost estimates from insurance coverage companies with the best prices.
  2. A different way to shop for insurance coverage online requires you to visit the website for each individual company and repeat the quote process again and again. For examples sake, let’s assume you want to compare rates from Liberty Mutual, Progressive and Farmers. You would have to visit each site and repeatedly type in your coverage information, which can get old fast.

    For a list of links to companies insuring cars in your area, click here.

  3. The most difficult way to do your price quoting to each insurance agency near you. Quoting online has reduced the need for local agents unless you’re the type of person who wants the professional advice of a local agency. Some companies do allow you to price shop your coverage online and have a local agent actually service the policy.

It’s up to you how you get prices quotes, just ensure you are comparing equivalent coverages and limits with every price quote. If you enter different values for each quote it will be nearly impossible to make a fair comparison for your Chevy Corvette. Quoting even small variations in insurance coverages or limits can make a big difference in price. And when price shopping your coverage, comparing a large number of companies helps increase your odds of locating better pricing.

Affordable auto insurance quotes with discounts

Car insurance companies do not advertise every disount available in an easy-to-find place, so the below list has a few of the more well known and the harder-to-find auto insurance savings. If they aren’t giving you every credit possible, you are paying more than you should be.

  • Distant College Student Discount – Children who live away from home at college and won’t have access to an insured vehicle can receive lower rates.
  • Driver Training Discounts – Taking part in a class that teaches driver safety techniques is a good idea and can lower rates and easily pay for the cost of the class.
  • Switch and Save Discount – Some insurance companies provide a discount for signing up prior to your current policy expiring. It could save around 10% when you buy insurance online.
  • Seat Belt Discounts – Drivers who require all occupants to use their safety belts could save 15% off the personal injury premium cost.
  • Government Employee Discount – Having worked for a branch of the government can earn a discount up to 10% for Corvette insurance with a few auto insurance companies.
  • First Accident Forgiveness – This one isn’t a discount, but some companies like State Farm and Geico will forgive one accident before hitting you with a surcharge so long as you are claim-free before the accident.
  • Military Discounts – Being deployed in the military could mean lower prices.
  • Multi-line Discount – Not every insurance company offers life insurance, but if they do you may earn a break if you buy auto and life insurance together.
  • Good Grades Discount – Getting good grades can save 20 to 25%. The discount lasts up to age 25.

Consumers should know that some of the credits will not apply to the entire policy premium. Most only reduce the cost of specific coverages such as liability, collision or medical payments. Even though it may seem like you could get a free auto insurance policy, insurance companies wouldn’t stay in business.

A few of the larger companies and some of the discounts are included below.

  • State Farm includes discounts for safe vehicle, Steer Clear safe driver discount, defensive driving training, good student, good driver, and passive restraint.
  • Esurance offers premium reductions for Switch & Save, DriveSense, online quote, good student, and multi-policy.
  • Progressive discounts include multi-policy, online signing, homeowner, good student, online quote discount, and continuous coverage.
  • Liberty Mutual policyholders can earn discounts including exclusive group savings, newly married, hybrid vehicle, newly retired, multi-car, and new vehicle discount.
  • Auto-Owners Insurance offers discounts for multi-policy, safe vehicle, anti-lock brakes, anti-theft, paperless, air bags, and group or association.
  • Geico may offer discounts for anti-theft, seat belt use, air bags, driver training, daytime running lights, and federal employee.

When getting a coverage quote, ask each insurance company to give you their best rates. Some credits may not apply to policies in your area.

Cut insurance costs with these tips

Lots of things are considered when you get a price on insurance. A few of the factors are predictable such as your driving record, but some are less obvious such as your marital status or your commute time.It’s important that you understand the factors that help calculate the price you pay for auto insurance. When you know what positively or negatively determines base rates, this allows you to make educated decisions that could help you find lower auto insurance prices.

  • Poor driving habits means higher prices – Having a clean driving record impacts your car insurance rates tremendously. Careful drivers have lower premiums compared to drivers with tickets. Even one ticket can boost insurance rates to the point where it’s not affordable. Drivers who have serious violations such as reckless driving or DUI may find they need to file a proof of financial responsibility form (SR-22) with their state’s department of motor vehicles in order to prevent their license from being revoked.
  • Claim-free discounts can add up – If you are a frequent claim filer, you should expect either a policy non-renewal or much higher rates. Companies generally give cheaper rates to policyholders who only file infrequent claims. Your car insurance is intended for claims that pose a financial burden.
  • Extra policy coverages are wasting money – There are a ton of extra coverages that you can buy if you aren’t diligent. Insurance for rental car reimbursement, towing coverage, and extra equipment coverage may be wasting your money. These may sound like a good investment initially, but if you don’t need them remove them and pocket the money.
  • Single drivers take more risk – Having a significant other actually saves money on your auto insurance policy. It generally demonstrates drivers are less irresponsible it has been statistically shown that drivers who are married are more cautious.

Tailor your car insurance coverage to you

When choosing proper insurance coverage, there really is no single plan that fits everyone. Your needs are not the same as everyone else’s and your policy should reflect that. Here are some questions about coverages that could help you determine whether you might need an agent’s assistance.

  • Why do I only qualify for high-risk insurance?
  • Do I have newly-aquired coverage?
  • Am I covered if I hit my neighbor’s mailbox?
  • Am I covered when driving in Canada or Mexico?
  • When should I remove comp and collision on my 2006 Chevy Corvette?
  • Is borrowed equipment or tools covered if stolen or damaged?

If you can’t answer these questions but one or more may apply to you, then you may want to think about talking to a licensed agent. If you don’t have a local agent, take a second and complete this form or you can also visit this page to select a carrier

Ads can be misleading

Big name companies like Allstate and Progressive seem to constantly run ads in print and on television. All the companies make an identical promise about savings if you get a free insurance quote and switch your coverage to them. That’s great but how can every company charge lower premium rates? This is how they do it.

All the different companies offer their best rates for the type of insured they prefer to insure. For instance, a desirable insured might be described as a married female, has few claims, and drives a car with an anti-theft system. A propective insured who fits that profile gets the lowest car insurance rates and will probably cut their rates substantially.

Insureds who are not a match for these stringent criteria may be forced to pay higher premium rates and this can result in the driver buying from a lower-cost company. The ads say “drivers that switch” not “all people who quote” can save as much as they claim. That’s the way insurance companies can confidently state the savings. Because of the profiling, you really should do a price quote comparison at every renewal. It’s not possible to predict with any certainty which company will have the lowest rates.

Car insurance 101

Knowing the specifics of your insurance policy can be of help when determining the right coverages at the best deductibles and correct limits. Insurance terms can be impossible to understand and nobody wants to actually read their policy. Shown next are typical coverages found on the average insurance policy.

Comprehensive coverage

Comprehensive insurance covers damage from a wide range of events other than collision. You first have to pay a deductible and then insurance will cover the rest of the damage.

Comprehensive insurance covers claims like falling objects, rock chips in glass and damage from flooding. The highest amount you’ll receive from a claim is the cash value of the vehicle, so if the vehicle’s value is low consider dropping full coverage.

Auto liability

Liability coverage protects you from damages or injuries you inflict on other’s property or people in an accident. This coverage protects you from legal claims by others. Liability doesn’t cover your own vehicle damage or injuries.

Coverage consists of three different limits, bodily injury for each person, bodily injury for the entire accident, and a limit for property damage. Your policy might show values of 25/50/25 that translate to $25,000 in coverage for each person’s injuries, a limit of $50,000 in injury protection per accident, and a total limit of $25,000 for damage to vehicles and property.

Liability can pay for claims such as medical services, bail bonds and funeral expenses. How much liability should you purchase? That is a personal decision, but buy as high a limit as you can afford.

Auto collision coverage

This coverage pays for damage to your Corvette from colliding with a stationary object or other vehicle. You will need to pay your deductible and then insurance will cover the remainder.

Collision coverage protects against claims like sustaining damage from a pot hole, damaging your car on a curb, scraping a guard rail, colliding with another moving vehicle and hitting a parking meter. This coverage can be expensive, so you might think about dropping it from vehicles that are older. Drivers also have the option to choose a higher deductible to save money on collision insurance.

Medical payments coverage and PIP

Medical payments and Personal Injury Protection insurance pay for short-term medical expenses for EMT expenses, surgery, hospital visits and prosthetic devices. They can be used to cover expenses not covered by your health insurance plan or if you do not have health coverage. They cover you and your occupants in addition to getting struck while a pedestrian. Personal injury protection coverage is not an option in every state and gives slightly broader coverage than med pay

Uninsured/Underinsured Motorist coverage

Uninsured or Underinsured Motorist coverage gives you protection when other motorists either have no liability insurance or not enough. Covered losses include injuries sustained by your vehicle’s occupants and also any damage incurred to your Chevy Corvette.

Since a lot of drivers have only the minimum liability required by law, it doesn’t take a major accident to exceed their coverage limits. So UM/UIM coverage is very important.

More quotes mean more savings

As you quote insurance, never buy poor coverage just to save money. There have been many cases where drivers have reduced uninsured motorist or liability limits and learned later that it was a big mistake. Your strategy should be to get the best coverage possible for the lowest cost.

Some insurance providers may not have price quotes online and usually these smaller providers provide coverage only through independent agents. Cheaper insurance coverage can be purchased both online as well as from independent agents, so compare prices from both to have the best rate selection.

Much more information about insurance coverage is available below: