1997 Chevrolet Corvette Insurance Quotes – 5 Policy Discounts

Trying to come up with a payment for expensive insurance can diminish your checking account and force you to cut corners elsewhere.

Many insurers vie for your hard-earned dollar, so it’s not easy to compare every company to discover the definitive cheapest price

More discounts mean cheaper premiums

Insurance can be prohibitively expensive, but there’s a good chance there are discounts that can dramatically reduce your bill. Certain discounts will be triggered automatically at the time you complete a quote, but a few must be manually applied before they will apply.

• Distant College Student Discount – Kids who are enrolled in a college that is more than 100 miles from home without a vehicle on campus may qualify for this discount.
• Air Bag Discount – Factory air bags or motorized seat belts may get savings of 25 to 30%.
• Accident Forgiveness Coverage – This isn’t a discount exactly, but companies like Liberty Mutual, Allstate and State Farm will forgive one accident before they charge you more for coverage if you have no claims prior to being involved in the accident.
• Driving Data Discount – Insureds that choose to allow driving data submission to spy on vehicle usage by using a telematics device such as In-Drive from State Farm or Allstate’s Drivewise system could save a few bucks if they are good drivers.
• Senior Discount – If you’re over the age of 55, you can possibly qualify for a small decrease in premiums on Corvette coverage.

A little disclaimer on discounts, many deductions do not apply the the whole policy. Some only apply to the cost of specific coverages such as comp or med pay. Even though it appears you could get a free car insurance policy, you aren’t that lucky. Any amount of discount will help reduce your policy premiums.

A list of companies and a selection of discounts can be read below.

• American Family includes discounts for good student, early bird, mySafetyValet, good driver, TimeAway discount, and defensive driver.
• State Farm offers discounts including good student, safe vehicle, multiple policy, driver’s education, defensive driving training, good driver, and passive restraint.
• 21st Century may offer discounts for good student, early bird, defensive driver, homeowners, and teen driver.
• Travelers offers discounts for home ownership, student away at school, new car, early quote, hybrid/electric vehicle, driver training, and continuous insurance.
• Geico has discounts for anti-lock brakes, emergency military deployment, good student, multi-policy, membership and employees, and federal employee.

When quoting, ask each company or agent which discounts you qualify for. Savings may not apply to policies in your area. To see a list of providers who offer free car insurance quotes, follow this link.

It’s not one size fits all

When choosing the best insurance coverage, there really is not a single plan that fits everyone. Coverage needs to be tailored to your specific needs and a cookie cutter policy won’t apply. For instance, these questions might help in determining if your situation might need an agent’s assistance.

• If my 1997 Chevy Corvette is totaled, can I afford another vehicle?
• Are rental cars covered under my policy?
• Do I need rental car coverage?
• Can I rate high risk drivers on liability-only vehicles?
• Can I get a multi-policy discount?
• Does my policy pay for OEM or aftermarket parts?

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. To find lower rates from a local agent, complete this form or you can also visit this page to select a carrier

Auto insurance coverage basics

Having a good grasp of your policy aids in choosing which coverages you need for your vehicles. Policy terminology can be confusing and coverage can change by endorsement. Shown next are the normal coverages found on the average auto insurance policy.

Collision – This pays for damage to your Corvette resulting from colliding with a stationary object or other vehicle. A deductible applies then the remaining damage will be paid by your insurance company.

Collision coverage protects against claims such as driving through your garage door, sustaining damage from a pot hole and damaging your car on a curb. Collision is rather expensive coverage, so analyze the benefit of dropping coverage from lower value vehicles. Another option is to bump up the deductible in order to get cheaper collision rates.

Comprehensive coverage (or Other than Collision) – This coverage pays to fix your vehicle from 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 protects against claims such as hitting a deer, hail damage, hitting a bird and rock chips in glass. The most you’ll receive from a claim is the cash value of the vehicle, so if it’s not worth much more than your deductible it’s probably time to drop comprehensive insurance.

Coverage for liability – Liability insurance provides protection from injuries or damage you cause to a person or their property 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 policy limits of 100/300/100 which stand for a $100,000 limit per person for injuries, a total of $300,000 of bodily injury coverage per accident, and a total limit of $100,000 for damage to vehicles and property.

Liability can pay for claims such as bail bonds, medical services, loss of income, court costs and medical expenses. How much liability should you purchase? That is your choice, but it’s cheap coverage so purchase higher limits if possible.

Uninsured Motorist or Underinsured Motorist insurance – This protects you and your vehicle’s occupants from other motorists when they do not carry enough liability coverage. Covered claims include injuries to you and your family as well as your vehicle’s damage.

Since a lot of drivers only carry the minimum required liability limits, it doesn’t take a major accident to exceed their coverage limits. This is the reason having UM/UIM coverage should not be overlooked.

Insurance for medical payments – Med pay and PIP coverage reimburse you for immediate expenses for prosthetic devices, surgery, funeral costs and nursing services. They are often used to cover expenses not covered by your health insurance plan or if you are not covered by health insurance. Coverage applies to all vehicle occupants and also covers any family member struck as a pedestrian. PIP is only offered in select states but it provides additional coverages not offered by medical payments coverage

Never pay more for less

Cheaper insurance coverage can be sourced from both online companies and with local insurance agents, so you should be comparing quotes from both to have the best rate selection. Some insurance providers do not offer price quotes online and usually these small insurance companies work with local independent agencies.

You just learned many ways to lower your 1997 Chevy Corvette insurance premium rates. It’s most important to understand that the more rate comparisons you have, the higher your chance of finding inexpensive auto insurance. You may even discover the best premium rates are with a small mutual company. Smaller companies may cover specific market segments cheaper compared to the large companies like Allstate, Geico and Progressive.

As you prepare to switch companies, don’t be tempted to skimp on critical coverages to save a buck or two. In many cases, drivers have reduced physical damage coverage only to regret at claim time that the small savings ended up costing them much more. Your goal is to find the BEST coverage at a price you can afford and still be able to protect your assets.

To learn more, take a look at the resources below:

• Auto Theft Statistics (Insurance Information Insitute)
• Vehicle Insurance (Wikipedia)
• What Determines the Price of My Auto Insurance Policy? (Insurance Information Insitute)
• Can I Drive Legally without Insurance? (Insurance Information Insitute)
• Preventing Carjacking and Theft (Insurance Information Insitute)
• Speed and Speed Limit FAQ (iihs.org)