2002 Chevrolet Corvette Car Insurance Quotes – 5 Tips to Save

Looking for cheaper car insurance rates for your Chevrolet Corvette? Finding cheaper insurance for a Chevy Corvette can turn out to be difficult, but you can learn the following methods to find lower rates.

There are both good and bad ways to shop for car insurance and we’ll show you the best way to quote coverages on a Chevy and get the best price possible either online or from local insurance agents.

Discounts are available to cut your rates

Insuring your vehicles can cost a lot, but there could be available discounts that can drop the cost substantially. Most are applied when you purchase, but some may not be applied and must be specifically requested in order for you to get them. If they aren’t giving you every credit you qualify for, you are throwing money away.

  • Good Student Discount – This discount can save 20 to 25%. This discount can apply until age 25.
  • Bundle and Save – When you combine your home and auto insurance with one insurance company you will save at least 10% off all policies.
  • Own a Home – Owning a home can save you money because of the fact that having a home shows financial diligence.
  • Government Employees – Employees or retirees of the government could cut as much as 10% off for Corvette insurance depending on your company.
  • Safe Driver Discount – Drivers who avoid accidents may save up to 50% more for Corvette insurance than drivers with accident claims.

Drivers should understand that many deductions do not apply the the whole policy. Most cut the cost of specific coverages such as medical payments or collision. Even though it may seem like all the discounts add up to a free policy, you won’t be that lucky. But any discount will help reduce your premiums.

To see a list of insurance companies with the best car insurance discounts, click here to view.

Everyone needs different coverages

When it comes to buying proper insurance coverage, there really is not a perfect coverage plan. Each situation is unique.

For instance, these questions can help discover if your insurance needs might need an agent’s assistance.

  • Do I need motorclub coverage?
  • Can I rent a car in Mexico?
  • Where can I get insurance after a DUI in my state?
  • What if I total my 2002 Chevy Corvette and owe more than it’s worth?
  • Do I need rental car coverage?
  • Are split liability limits better than a combined single limit?
  • Do all my vehicles need collision coverage?
  • How do I buy GAP insurance?
  • Is business property covered if stolen from my car?

If it’s difficult to answer those questions but you think they might apply to your situation, you might consider talking to an agent. To find an agent in your area, fill out this quick form. It is quick, free and can help protect your family.

Save $483 a year. For real?

Consumers can’t ignore all the ads that promise big savings from the likes of State Farm, Geico and Progressive. They all say the same thing that you can save if you switch your coverage to them.

How can each company claim to save you money?

Insurance companies have a certain “appetite” for the type of customer that makes them money. An example of a preferred risk might be profiled as between the ages of 40 and 55, has no prior claims, and has a short commute. A propective insured who matches those parameters gets the lowest rates and most likely will save when they switch companies.

Potential customers who don’t meet the requirements will be charged higher prices and ends up with business going elsewhere. The ads say “customers that switch” not “everyone that quotes” save money. This is how insurance companies can make the claims of big savings.

That is why you absolutely need to get as many comparisons as possible. It’s just too difficult to predict which company will give you the biggest savings on Chevy Corvette insurance.

Coverages available on your auto insurance policy

Understanding the coverages of your auto insurance policy aids in choosing appropriate coverage at the best deductibles and correct limits. The terms used in a policy can be ambiguous and coverage can change by endorsement.

Coverage for collisions

Collision insurance pays for damage to your Corvette from colliding with another car or object. A deductible applies then your collision coverage will kick in.

Collision coverage pays for things such as sideswiping another vehicle, rolling your car, colliding with another moving vehicle, damaging your car on a curb and crashing into a ditch. This coverage can be expensive, so analyze the benefit of dropping coverage from vehicles that are 8 years or older. Another option is to increase the deductible in order to get cheaper collision rates.

Uninsured Motorist or Underinsured Motorist insurance

Your UM/UIM coverage protects you and your vehicle from other drivers when they either have no liability insurance or not enough. This coverage pays for hospital bills for your injuries and also any damage incurred to your Chevy Corvette.

Due to the fact that many drivers have only the minimum liability required by law, it doesn’t take a major accident to exceed their coverage limits. This is the reason having UM/UIM coverage should not be overlooked. Most of the time your uninsured/underinsured motorist coverages do not exceed the liability coverage limits.

Insurance for medical payments

Personal Injury Protection (PIP) and medical payments coverage provide coverage for expenses like hospital visits, rehabilitation expenses and EMT expenses. They are often utilized in addition to your health insurance program or if you do not have health coverage. They cover you and your occupants and will also cover being hit by a car walking across the street. PIP is not an option in every state and gives slightly broader coverage than med pay

Liability

Liability insurance protects you from damage that occurs to other’s property or people by causing an accident. Split limit liability has three limits of coverage: bodily injury for each person injured, bodily injury for the entire accident and a property damage limit. You commonly see limits of 50/100/50 which means $50,000 in coverage for each person’s injuries, $100,000 for the entire accident, and property damage coverage for $50,000. Occasionally you may see one limit called combined single limit (CSL) which provides one coverage limit rather than limiting it on a per person basis.

Liability insurance covers things like funeral expenses, structural damage, loss of income, repair costs for stationary objects and legal defense fees. How much liability should you purchase? That is a personal decision, but consider buying as high a limit as you can afford.

Comprehensive coverage (or Other than Collision)

Comprehensive insurance pays for damage caused by mother nature, theft, vandalism and other events. You first must pay your deductible then the remaining damage will be covered by your comprehensive coverage.

Comprehensive insurance covers claims such as hitting a bird, falling objects and fire damage. The highest amount a auto insurance company will pay at claim time is the actual cash value, so if the vehicle is not worth much it’s probably time to drop comprehensive insurance.

Have the Midas touch

You just learned some good ideas how to reduce 2002 Chevy Corvette insurance prices online. The key concept to understand is the more quotes you get, the more likely it is that you will get a better rate. You may even discover the biggest savings come from a small local company.

Low-cost insurance can be purchased from both online companies and also from your neighborhood agents, so you should compare both to get a complete price analysis. Some auto insurance companies may not provide the ability to get a quote online and usually these smaller companies provide coverage only through local independent agents.

As you restructure your insurance plan, don’t be tempted to skimp on critical coverages to save a buck or two. There have been many situations where an insured dropped uninsured motorist or liability limits and learned later they didn’t purchase enough coverage. The proper strategy is to get the best coverage possible for the lowest price while still protecting your assets.

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