2017 Chevrolet Corvette Insurance Cost – 6 Ways to Save

Price shopping your car insurance can be challenging for people who are new to online rate comparisons. You have so many choices that it can quickly become a real hassle to find the best price.

It’s a great practice to compare premium rates once or twice a year due to the fact that insurance prices are usually higher with each renewal. Even if you think you had the lowest price on Corvette coverage at your last renewal you may be paying too much now. Block out anything you think you know about car insurance because we’re going to demonstrate how to quote online to save money, get proper deductibles and limits, all at the lowest rate.

Take these six policy discounts and save

Insuring your fleet can be pricey, but you might find some hidden discounts that may help make it more affordable. Certain credits will be shown at the time you complete a quote, but some discounts are required to be specifically requested before you will receive the discount.

  • E-sign – Some insurance companies give back up to $50 for buying your policy over the internet.
  • ABS and Traction Control Discounts – Cars with ABS braking systems or traction control can avoid accidents so companies give up to a 10% discount.
  • Active Service Discounts – Having a family member in the military could mean lower premium rates.
  • Discounts for Seat Belt Usage – Forcing all vehicle occupants to use their safety belts can save 10% or more on the premium charged for medical payments and/or PIP.
  • Discount for Life Insurance – If the company offers life insurance, you could get a small discount if you purchase some life insurance in addition to your auto policy.
  • Discount for New Cars – Insuring a vehicle that is new can get you a discount because newer vehicles keep occupants safer.

Don’t be surprised that most discount credits are not given to the entire policy premium. Most only cut specific coverage prices like comp or med pay. So even though you would think adding up those discounts means a free policy, insurance companies aren’t that generous.

Popular insurance companies and some of the premium reductions they offer are included below.

  • GEICO offers premium reductions for multi-policy, membership and employees, defensive driver, seat belt use, five-year accident-free, and daytime running lights.
  • Travelers may offer discounts for driver training, multi-car, early quote, hybrid/electric vehicle, payment discounts, student away at school, and IntelliDrive.
  • Nationwide may include discounts for Farm Bureau membership, accident-free, multi-policy, defensive driving, family plan, and easy pay.
  • Farmers Insurance offers discounts including youthful driver, business and professional, teen driver, switch companies, mature driver, early shopping, and electronic funds transfer.
  • Esurance includes discounts for renters, claim free, DriveSense, emergency road assistance, and multi-car.
  • State Farm has savings for defensive driving training, driver’s education, good student, safe vehicle, multiple autos, and anti-theft.
  • Progressive offers discounts for multi-vehicle, online signing, continuous coverage, homeowner, and multi-policy.
  • Mercury Insurance policyholders can earn discounts including multi-policy, location of vehicle, anti-theft, age of vehicle, good driver, annual mileage, and good student.

When getting a coverage quote, ask each company or agent to apply every possible discount. Some discounts listed above might not be offered in your state.

Ways to get insurance quotes

There are multiple methods to compare insurance prices but some are less time-consuming than others. You can spend your afternoon discussing policy coverages with local insurance agents in your area, or you can stay home and use the internet to get prices fast.

Many of the larger companies are enrolled in a marketplace where prospective buyers enter their policy data once, and at least one company returns a competitive quote for coverage. This prevents consumers from doing quote requests for each company.

To participate in this free quote system, click here (opens in new window).

The only drawback to comparing rates this way is buyers cannot specifically choose which providers you want to price. So if you want to select specific providers to compare prices, we put together a list of the cheapest insurance companies in your area. Click here for list of insurance companies.

How you compare quotes is your choice, just double check that you are using nearly identical coverages for every quote you compare. If you compare unequal deductibles or liability limits you can’t possibly determine the best price for your Chevy Corvette. Slightly different coverage limits may cause a big price difference. And when quoting insurance, remember that having more price comparisons helps improve the odds of finding the best price. Not every company does online rate quotes, so you also need to get price estimates on coverage from those companies, too.

Which policy gives me the best coverage?

When buying the best car insurance coverage, there is no cookie cutter policy. Coverage needs to be tailored to your specific needs.

For instance, these questions could help you determine whether your personal situation may require specific advice.

  • Do I need roadside assistance coverage?
  • Am I covered when driving a rental car?
  • Are my tools covered if they get stolen from my vehicle?
  • What if I owe more than I can insure my car for?
  • Does insurance cover damages from a DUI accident?
  • Where can I get insurance after a DUI in my state?
  • How does medical payments coverage work?
  • Who is covered by my policy?
  • Does coverage extend to my business vehicle?

If it’s difficult to answer those questions but you think they might apply to your situation, you might consider talking to an agent. If you don’t have a local agent, simply complete this short form.

Do auto insurance companies bend the truth?

Auto insurance providers like State Farm and Allstate continually stream ads in print and on television. They all seem to tend to make the same promise that you can save if you get a free auto insurance quote and switch your auto insurance policy to them. How can each company say the same thing? Here is how they do it.

Many companies have a certain “appetite” for the right customer that earns them the most money. An example of a profitable risk profile could be over the age of 35, has no prior claims, and drives less than 5,000 miles a year. A customer getting a price quote that hits that “sweet spot” is entitled to the best price and will most likely cut their rates substantially.

Insureds who fall outside the requirements must pay higher premiums and the customer buying from someone else. The ads say “people who switch” not “everybody who quotes” save that kind of money. That’s the way insurance companies can advertise the way they do. This really emphasizes why you need to compare free auto insurance quotes often. It is just not possible to predict which auto insurance company will have the best rates for your profile.

Insurance coverage specifics

Knowing the specifics of a insurance policy helps when choosing the best coverages for your vehicles. The coverage terms in a policy can be confusing and coverage can change by endorsement.

Comprehensive insurance – This coverage pays to fix your vehicle from damage from a wide range of events other than collision. You first must pay your deductible and then insurance will cover the rest of the damage.

Comprehensive can pay for claims such as a broken windshield, hail damage and rock chips in glass. The most your insurance company will pay is the ACV or actual cash value, so if your deductible is as high as the vehicle’s value it’s probably time to drop comprehensive insurance.

Collision coverage – Collision coverage will pay to fix damage to your Corvette resulting from a collision with another car or object. A deductible applies then the remaining damage will be paid by your insurance company.

Collision coverage pays for things such as damaging your car on a curb, crashing into a building, hitting a mailbox and backing into a parked car. Paying for collision coverage can be pricey, so analyze the benefit of dropping coverage from vehicles that are 8 years or older. It’s also possible to choose a higher deductible to save money on collision insurance.

Med pay and Personal Injury Protection (PIP) – Coverage for medical payments and/or PIP pay for short-term medical expenses such as EMT expenses, funeral costs, pain medications and surgery. The coverages can be used in conjunction with a health insurance program or if you do not have health coverage. They cover you and your occupants as well as any family member struck as a pedestrian. Personal Injury Protection is not universally available but can be used in place of medical payments coverage

Uninsured/Underinsured Motorist (UM/UIM) – Uninsured or Underinsured Motorist coverage gives you protection when other motorists are uninsured or don’t have enough coverage. Covered claims include injuries to you and your family as well as damage to your Chevy Corvette.

Since many drivers only carry the minimum required liability limits, their limits can quickly be used up. So UM/UIM coverage is a good idea.

Liability auto insurance – This coverage can cover damages or injuries you inflict on other people or property in an accident. This insurance protects YOU against claims from other people. It does not cover damage sustained by your vehicle in an accident.

Liability coverage has three limits: per person bodily injury, per accident bodily injury, and a property damage limit. Your policy might show limits of 100/300/100 which stand for $100,000 bodily injury coverage, a total of $300,000 of bodily injury coverage per accident, and property damage coverage for $100,000.

Liability coverage pays for things like funeral expenses, attorney fees, court costs and bail bonds. How much liability coverage do you need? That is up to you, but you should buy higher limits if possible.

Online plus local equals savings

As you prepare to switch companies, you should never reduce needed coverages to save money. In many cases, someone sacrificed comprehensive coverage or liability limits and found out when filing a claim that they should have had better coverage. Your focus should be to get the best coverage possible at the best price while still protecting your assets.

Consumers who switch companies do it for a number of reasons such as delays in paying claims, policy cancellation, extreme rates for teen drivers and policy non-renewal. It doesn’t matter what your reason, finding a great new company can be easier than you think.

We just covered a lot of tips how to reduce 2017 Chevy Corvette insurance prices online. The key concept to understand is the more quotes you get, the better your comparison will be. You may be surprised to find that the biggest savings come from a small local company.

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Comments About 2017 Chevrolet Corvette Insurance

  1. Stacey Cobb

    I got a good deal I think. I live north of Lewiston, ME. Got quotes from Mercury, Encompass, Progressive, and AIG Insurance for my Chevrolet and am saving around $540 a year. You can get a rate quote online.

  2. Lauren Harrington

    I went with State Farm at renewal. Best rates in Wichita, KS. I used their website to get prices.

  3. Maira Walls

    If you have a good history and live around Cranston, RI, check out 21st Century. They seem to be cheaper. I have kids on my policy, too. It’s still not cheap enough.

  4. Mandie Andrews

    I got quite a few price quotes for a 2017 Chevrolet Corvette in Portland, Oregon. Ended up at roughly $390 every six months with AIG Insurance. Thankfully I have a good driving record. It was easy to get rates.

  5. Star Lynch

    I can’t pay high rates. Proud to be from Aurora, IL. Got car insurance prices from 21st Century, Erie, and Liberty Mutual for my 2017 Chevrolet Corvette and I’m now saving $44 a month. Not sure if rates are cheaper online or through an agent.

  6. Betty Callahan

    Cheap car insurance? What’s that? I live on the north side of Hartford, CT. Not sure of all the companies but I ended up saving about $40 each month. They were helpful in switching over.

  7. Randa Shepherd

    Corporate greed I’m telling you. I live just to the west of Bellevue, NE. I quoted with Liberty Mutual, American Family, Nationwide, and a couple others for my Corvette and I think I am saving around $60 each month. I have several vehicles insured with them. It never hurts to quote around.

  8. Lamont Molina

    Does GEICO prorate premiums at cancellation?

  9. Lizabeth Soto

    Does Illinois require a SR-22 after a DUI?

  10. Georgia Adkins

    I found affordable 2017 Chevrolet Corvette insurance from Progressive in North Charleston, South Carolina.

  11. Modesto Joyner

    I think State Farm has low rates in Alaska. For me anyway.

  12. Eartha Riddle

    In Rockford, IL, State Farm auto insurance rates for my 2017 Chevrolet Corvette were good. Teenage drivers are expensive!

  13. Valentina Mckee

    This is too expensive. I’m just west of Los Angeles, CA. Got free quotes online for a 2017 Chevrolet Corvette. Ended up at about $310 savings annually. Went with State Farm. I get a discount for insuring multiple vehicles. You can get a rate quote online.

  14. Titus Case

    Found cheapest coverage with Hanover for my Corvette and am saving around $180 a year.

  15. Keren Mcconnell

    Progressive and Allstate were both pretty cheap in Overland Park, Kansas.