Cheaper 2004 Chevrolet Corvette Insurance Cost

Tired of wondering where the money will come from to pay high auto insurance rates every month? You are in the same boat as the majority of other drivers.

Many auto insurance companies vie for your insurance dollar, and it can be difficult to compare rates and get the definite best price available.

It’s important to shop coverage around every six months because prices tend to go up over time. Just because you had the best price for Corvette insurance a couple years back other companies may now be cheaper. Forget all the misinformation about auto insurance because we’re going to show you the best methods to save on auto insurance.

Discounts for lower-cost auto insurance rates

Some companies do not advertise every available discount very well, so the following is a list of both the well known and the harder-to-find discounts that you can inquire about if you buy car insurance online. If they aren’t giving you every credit you deserve, you may be paying too high a price.

• Discount for Home Ownership – Being a homeowner can help you save on auto insurance because maintaining a house means you have a higher level of financial diligence.
• Discount for Life Insurance – Larger insurance companies have a lower auto insurance rate if you buy auto and life insurance together.
• Multiple Cars – Buying insurance for multiple cars with one company can get a discount on all vehicles.
• Waiver for an Accident – Not necessarily a discount, but some insurance companies may permit one accident without getting socked with a rate hike so long as you are claim-free for a specific time period.
• Renewal Discounts – Some companies give discounts for signing up before your current coverage expires. This can save 10% or more.
• Claim Free – Drivers with accident-free driving histories are rewarded with significantly better rates on car insurance quote when compared to drivers with a long claim history.
• Military Discounts – Having a deployed family member could be rewarded with lower rates.
• New Car Discount – Putting coverage on a new car can be considerably cheaper because new model year vehicles have to meet stringent safety requirements.

You should keep in mind that some credits don’t apply to your bottom line cost. Most cut specific coverage prices like liability and collision coverage. So even though they make it sound like you would end up receiving a 100% discount, insurance companies wouldn’t stay in business.

A few popular companies and the discounts they provide are included below.

• State Farm offers discounts for driver’s education, anti-theft, safe vehicle, Steer Clear safe driver discount, Drive Safe & Save, and good driver.
• Progressive may offer discounts for multi-vehicle, homeowner, online signing, continuous coverage, and multi-policy.
• Travelers includes discounts for hybrid/electric vehicle, continuous insurance, multi-policy, IntelliDrive, and driver training.
• American Family offers discounts including defensive driver, air bags, accident-free, bundled insurance, and mySafetyValet.
• Liberty Mutual has savings for multi-policy, exclusive group savings, new vehicle discount, good student, teen driver discount, and safety features.

It’s a good idea to ask each insurance company to give you their best rates. A few discounts may not be available in your area. To see insurance companies that offer discounts, follow this link.

How much does insurance cost?

Effectively comparing insurance prices can take time and effort if you don’t know the best way to get rate quotes. You can waste a few hours (or days) talking to insurance agencies in your area, or you can utilize online quotes to maximize your effort.

Most of the larger companies take part in a program that allows shoppers to enter their policy data once, and each participating company then returns a price quote for coverage. This eliminates the need for repetitive form submissions to every company.

To find out what other companies charge click to open in new window.

The one downside to pricing coverage this way is you are unable to specify the companies to receive prices from. If you wish to select specific providers for rate comparison, we have a listing of the cheapest insurance companies in your area. View list of insurance companies.

It’s your choice how you get your quotes, but double check that you are using nearly identical information for every quote you compare. If your comparisons have differing limits it’s not possible to determine the best price for your Chevy Corvette. Slightly different coverage limits could mean much higher rates. Keep in mind that comparing a wide range of rates increases the change that you will find a lower rate. Some insurance companies are not set up to provide online quotes, so you should also compare quotes on coverage from those companies, too.

Insurance cost influencing factors

When buying insurance coverage it’s important to understand some of the elements that are used to determine the rates you pay for insurance coverage. If you know what controls the rates you pay, this enables you to make decisions that may reward you with lower rates.

The list below includes just a few of the factors used by companies to determine your rates.

• Small coverages can add up – There are a lot of additional coverages that you can get tricked into buying if you aren’t careful. Things like roadside assistance, towing coverage, and membership fees could be just wasting money. They may seem good when you first buy your policy, but your money might be better spent on other coverage so get rid of them and save.
• Careless drivers pay higher prices – Good drivers receive lower rates than their less careful counterparts. Even one ticket can bump up the cost by as much as thirty percent. Drivers who have careless violations like DUI, reckless driving or excessive speeding may be required to submit a SR-22 or proof of financial responsibility with the DMV in their state in order to drive a vehicle legally.
• Employer impacts rates – Did you know your job can affect your rates? Jobs like doctors, architects and emergency personnel tend to pay the highest rates because of intense work situations and lots of time spent at work. On the flip side, jobs like actors, athletes and homemakers receive lower rates for Corvette insurance.
• More policies can equal more savings – Most major companies apply lower prices to policyholders who have multiple policies with them. It’s known as a multi-policy discount. Discounts can add up to five, ten or even twenty percent. Even if you’re getting this discount it’s still a good idea to compare other company rates to make sure you are getting the best deal. It’s possible to still find lower rates even if you have your coverage with different companies
• Prices can change based on your address – Residing in small towns and rural areas is a positive aspect when talking about insurance coverage. Fewer drivers on the road means a lower chance of having an accident and also fewer theft and vandalism claims. Urban drivers regularly have more aggressive driving styles and more severe claims. Higher commute times can result in more accidents.
• Pleasure use or commuting – Driving a lot of miles every year the higher your rate. Most companies charge rates based on their usage. Cars not used for work or commuting can get a lower rate than vehicles that have high annual mileage. Having the wrong rating on your Corvette may be wasting your money. It’s a smart idea to ensure your policy shows the proper vehicle usage, because improper ratings can cost you money.
• Gender and insurance prices – The statistics show women tend to be less risk to insure than men. This data doesn’t prove that females are better drivers. Males and females are responsible for at-fault accidents at a similar rate, but the males have costlier accidents. Men also have more aggressive citations like DWI (DUI) or reckless driving. Male drivers age 16 to 19 are most likely to cause an accident and therefore are the most expensive to insure.
• Theft deterrents lower premiums – Owning a car that has a built-in theft deterrent system can save you a little every year. Anti-theft devices such as vehicle immobilizer systems, OnStar, and tracking devices like LoJack help track and prevent vehicle theft.

Tailor your car insurance coverage to you

When it comes to buying coverage for your vehicles, there really is no one size fits all plan. Everyone’s situation is unique so your insurance needs to address that. These are some specific questions could help you determine if you would benefit from an agent’s advice.

• Will filing a claim cost me more?
• Are my friends covered when driving my car?
• Do I need motorclub coverage?
• How high should my uninsured/underinsured coverage be in my state?
• Why do I only qualify for high-risk insurance?
• How much liability insurance is required?
• Am I covered if hit by an uninsured driver?

If you’re not sure about those questions, you may need to chat with an agent. If you want to speak to an agent in your area, take a second and complete this form or click here for a list of car insurance companies in your area.

Auto insurance specifics

Understanding the coverages of auto insurance helps when choosing which coverages you need and the correct deductibles and limits. The coverage terms in a policy can be confusing and nobody wants to actually read their policy. These are typical coverage types found on the average auto insurance policy.

Liability car insurance – Liability coverage will cover injuries or damage you cause to people or other property in an accident. It protects you against claims from other people. It does not cover damage to your own property or vehicle.

Split limit liability has three limits of coverage: bodily injury for each person, bodily injury for the entire accident, and a limit for property damage. You might see 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 property damage coverage for $25,000. Alternatively, you may have a combined single limit or CSL which limits claims to one amount rather than limiting it on a per person basis.

Liability insurance covers claims like loss of income, emergency aid, structural damage and repair costs for stationary objects. How much liability coverage do you need? That is a personal decision, but it’s cheap coverage so purchase as large an amount as possible.

Uninsured/Underinsured Motorist (UM/UIM) – This gives you protection when other motorists do not carry enough liability coverage. This coverage pays for medical payments for you and your occupants and also any damage incurred to your Chevy Corvette.

Since a lot of drivers only purchase the least amount of liability that is required, it only takes a small accident to exceed their coverage. So UM/UIM coverage is a good idea. Normally the UM/UIM limits are similar to your liability insurance amounts.

Collision – Collision coverage pays to fix your vehicle from damage resulting from colliding with a stationary object or other vehicle. You first must pay a deductible and then insurance will cover the remainder.

Collision insurance covers things such as colliding with another moving vehicle, colliding with a tree and hitting a mailbox. Collision is rather expensive coverage, so you might think about dropping it from vehicles that are older. Another option is to increase the deductible to get cheaper collision coverage.

Med pay and Personal Injury Protection (PIP) – Coverage for medical payments and/or PIP reimburse you for expenses for things like rehabilitation expenses, pain medications, hospital visits, prosthetic devices and chiropractic care. They are often used to fill the gap from your health insurance policy or if you lack health insurance entirely. Medical payments and PIP cover not only the driver but also the vehicle occupants in addition to any family member struck as a pedestrian. PIP coverage is not an option in every state and gives slightly broader coverage than med pay

Comprehensive insurance – This coverage pays for damage caused by mother nature, theft, vandalism and other events. You first must pay your deductible and then insurance will cover the rest of the damage.

Comprehensive coverage pays for things like fire damage, damage from getting keyed and hitting a bird. The highest amount your auto insurance company will pay is the market value of your vehicle, so if your deductible is as high as the vehicle’s value it’s probably time to drop comprehensive insurance.

Save your hard earned cash

As you restructure your insurance plan, you should never skimp on coverage in order to save money. In too many instances, someone dropped comprehensive coverage or liability limits and found out when filing a claim that saving that couple of dollars actually costed them tens of thousands. Your focus should be to purchase a proper amount of coverage at the lowest possible cost while not skimping on critical coverages.

Budget-friendly auto insurance can be purchased online and with local insurance agents, so you should compare both to have the best rate selection. There are still a few companies who may not have rates over the internet and many times these smaller companies only sell coverage through independent insurance agents.

For more information, feel free to browse the following helpful articles:

• Safety Features for Your New Car (State Farm)
• Auto Insurance for Teen Drivers (Insurance Information Insitute)
• Help Your Teen Be a Better Driver (State Farm)
• Safe Vehicles for Teens (iihs.org)
• How to Avoid Buying a Flooded Car (Insurance Information Insitute)
• How Can I Save Money on Auto Insurance? (Insurance Information Insitute)