Compare 1994 Chevrolet Corvette Car Insurance Cost

Purchasing cheaper insurance on the internet may seem to be rather difficult for people new to comparing prices online. With dozens of insurers available, how can you have time to compare every company to locate the lowest price?

Insurance coverage quotes comparison

Effectively comparing insurance coverage prices can take hours if you don’t understand the most efficient way to do it. You can waste a few hours (or days) talking to insurance agencies in your area, or you could use online quotes for quick rates.

Most car insurance companies participate in an industry program that enables customers to submit one quote, and at least one company provides a quote based on that data. This prevents consumers from doing form submissions for every insurance coverage company.

To compare rates now click here to open in new window.

The single downside to comparing rates this way is that you can’t choose which insurance companies you want pricing from. So if you want to choose specific providers for rate comparison, we have assembled a list of insurance coverage companies in your area. Click to view list.

Compare rates however you want, just do your best to use nearly identical coverage limits for every company. If the quotes have higher or lower deductibles it will be very difficult to determine the lowest rate for your Chevy Corvette. Even a minor difference in coverages could throw off the whole comparison. And when comparing insurance coverage rates, know that comparing a wide range of rates helps you find better pricing.

Why informed consumers pay less for Chevy Corvette insurance

Many factors are part of the calculation when you get your auto insurance bill. Some are obvious such as your driving history, but other factors are less apparent such as your marital status and annual miles driven.

The factors shown below are some of the things companies use to determine rates.

• Prevent theft and save – Choosing a vehicle with a theft deterrent system can save you a little every year. Systems that thwart theives like GM’s OnStar, tamper alarm systems and vehicle immobilizers all aid in stopping car theft.
• Lower rates by increasing physical damage deductibles – Physical damage deductibles are how much you are willing to pay before your auto insurance pays a claim. Insurance for physical damage, also called comprehensive and collision insurance, insures against damage to your car. A few examples of covered claims are collision with another vehicle, collision with a deer, and damage caused by road hazards. The more money you pay before a claim is paid (deductible), the bigger discount you will receive for Corvette insurance.
• Car insurance liability protection limits – Liability coverage is the protection if you are determined to be liable for personal injury or accident damage. Your policy’s liability insurance provides legal defense coverage to attempt to prove you were not liable. This coverage is relatively inexpensive as compared to coverage for physical damage, so buy as much as you can afford.
• Prices for guys may be higher – Over time, data shows that females tend to be a little less risky than males. The data does not necessarily mean that females are better drivers. They both cause auto accidents in similar percentages, but the men tend to have higher claims. Not only are claims higher, but men get ticketed for serious violations such as reckless driving. Young males have the highest risk to insure so they pay the highest premiums.
• Use but don’t abuse your insurance – If you file a lot of claims you can definitely plan on much higher rates or policy non-renewal. Companies award the lowest premiums to people who do not rely on their insurance for small claims. Insurance coverage is intended for the large, substantial claims.
• Cheaper prices for prior coverage – Driving without insurance coverage in place is illegal and you may have a hard time finding new coverage because you let your coverage cancel without a new policy in place. Not only will you pay more, the inability to provide proof of insurance might get you a license revocation or jail time.
• Save by driving cars with good safety ratings – Vehicles with high crash test scores cost less to insure. The safest vehicles help reduce the chance of injuries in an accident and lower injury rates means lower claim amounts and thus lower rates. If your Chevy has ratings of a minimum four stars on Safercar.gov you are probably receiving a discount.

Lower-cost insurance rates with discounts

Companies offering auto insurance don’t always advertise all available discounts very well, so the list below details both well-publicized as well as some of the hidden credits that may apply to you. If you aren’t receiving every discount possible, it’s possible you qualify for a lower rate.

• Payment Discounts – By making one initial payment instead of paying each month you can avoid monthly service charges.
• New Car Discount – Insuring a vehicle that is new can save up to 30% because new vehicles have to meet stringent safety requirements.
• Multi-policy Discount – If you combine your homeowners and auto policies with one company you could get a discount of approximately 10% to 15%.
• Homeowners Savings – Owning a house may trigger a policy discount on insurance since owning and maintaining a home is proof of financial responsibility.
• Senior Citizens – If you’re over the age of 55, you may receive better insurance rates for Corvette insurance.
• Telematics Data Discounts – Drivers who elect to allow data collection to scrutinize where and when they drive by using a telematics device in their vehicle such as In-Drive from State Farm or Allstate’s Drivewise system could see a rate decrease if they have good driving habits.

As a footnote on discounts, most credits do not apply the the whole policy. Most only cut specific coverage prices like comprehensive or collision. Even though it appears it’s possible to get free car insurance, companies don’t profit that way.

To see insurers offering insurance discounts, click this link.

Tailor your auto insurance coverage to you

When it comes to buying the right insurance coverage for your personal vehicles, there really is not a best way to insure your cars. Every situation is different.

For example, these questions might point out if your situation could use an agent’s help.

• Is my cargo covered for damage or theft?
• Am I missing any policy discounts?
• What should my uninsured motorist coverage limits be in my state?
• Can my babysitter drive my car?
• What is no-fault insurance?
• Does insurance cover tools stolen from my truck?
• Are my friends covered when driving my car?
• Why am I required to get a high-risk car insurance policy?

If you can’t answer these questions, then you may want to think about talking to an insurance agent. If you don’t have a local agent, take a second and complete this form.

Auto insurance coverages

Knowing the specifics of insurance aids in choosing which coverages you need for your vehicles. Insurance terms can be impossible to understand and nobody wants to actually read their policy.

Med pay and Personal Injury Protection (PIP) – Coverage for medical payments and/or PIP pay for immediate expenses for chiropractic care, dental work, doctor visits and ambulance fees. The coverages can be used to cover expenses not covered by your health insurance policy or if there is no health insurance coverage. Medical payments and PIP cover both the driver and occupants in addition to getting struck while a pedestrian. PIP coverage is not an option in every state but it provides additional coverages not offered by medical payments coverage

Collision coverage – This coverage pays to fix your vehicle from damage from colliding with a stationary object or other vehicle. You have to pay a deductible then your collision coverage will kick in.

Collision coverage protects against claims like hitting a parking meter, scraping a guard rail, crashing into a ditch and crashing into a building. Collision coverage makes up a good portion of your premium, so analyze the benefit of dropping coverage from vehicles that are 8 years or older. Drivers also have the option to increase the deductible to get cheaper collision coverage.

Liability coverage – This provides protection from damage or injury you incur to other’s property or people that is your fault. This insurance protects YOU from claims by other people. It does not cover damage to your own property or vehicle.

It consists of three limits, bodily injury per person, bodily injury per accident and property damage. You commonly see limits of 50/100/50 which stand for $50,000 bodily injury coverage, $100,000 for the entire accident, and $50,000 of coverage for damaged propery.

Liability coverage protects against claims such as loss of income, repair costs for stationary objects, legal defense fees and pain and suffering. How much coverage you buy is a decision to put some thought into, but it’s cheap coverage so purchase higher limits if possible.

Uninsured/Underinsured Motorist (UM/UIM) – Uninsured or Underinsured Motorist coverage provides protection when the “other guys” do not carry enough liability coverage. It can pay for hospital bills for your injuries as well as damage to your Chevy Corvette.

Due to the fact that many drivers carry very low liability coverage limits, their liability coverage can quickly be exhausted. That’s why carrying high Uninsured/Underinsured Motorist coverage is very important.

Comprehensive insurance – This coverage will pay to fix 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 things like falling objects, damage from flooding, hail damage, theft and damage from getting keyed. The maximum payout you’ll receive from a claim is the market value of your vehicle, so if your deductible is as high as the vehicle’s value it’s not worth carrying full coverage.

Summing up your auto insurance search

The cheapest 1994 Chevy Corvette insurance is available on the web as well as from insurance agents, and you should compare price quotes from both in order to have the best chance of saving money. Some companies may not have internet price quotes and usually these smaller providers only sell through local independent agents.

Insureds who switch companies do it for many reasons like being labeled a high risk driver, high prices, high rates after DUI convictions or unfair underwriting practices. It doesn’t matter what your reason, finding a new company is less work than it seems.

When searching for cheaper car insurance quotes, don’t be tempted to reduce coverage to reduce premium. There are too many instances where someone sacrificed collision coverage and found out when filing a claim that the few dollars in savings costed them thousands. Your strategy should be to get the best coverage possible for the lowest cost, but don’t skip important coverages to save money.

Additional information is located below:

• Auto Insurance Basics (Insurance Information Insitute)
• Young Drivers: The High Risk Years Video (iihs.org)
• How to Avoid Common Accidents (State Farm)
• Auto Insurance FAQ (Farmers Insurance)