View 2005 Chevrolet Corvette Insurance Rates

Want lower auto insurance rates for your Chevrolet Corvette? Did you fall for a flashy sales pitch and buy overpriced auto insurance? Believe me when I say many consumers are feeling buyer’s remorse and feel like there’s no way out.

Many car insurance companies vie for your business, and it can be difficult to compare rates and get the best coverage at the cheapest price

Don’t miss out on these money-saving discounts

Companies that sell car insurance do not advertise all available discounts in an easy-to-find place, so we break down some of the best known and the more hidden discounts you could be receiving.

  • Multiple Policy Discount – If you have multiple policies with the same insurance company you could get a discount of at least 10% off all policies.
  • Anti-lock Brake System – Vehicles equipped with ABS or steering control can reduce accidents and will save you 10% or more.
  • College Student – Kids in college who live away from home without a vehicle on campus can receive lower rates.
  • Military Discounts – Having a deployed family member can result in better rates.
  • Multiple Vehicles – Buying insurance for multiple vehicles on the same auto insurance policy can get a discount on all vehicles.
  • Low Mileage – Low mileage vehicles could be rewarded with better rates on cars that stay parked.
  • Discounts for Safe Drivers – Safe drivers can pay as much as 50% less on Corvette insurance than less cautious drivers.
  • Air Bag Discount – Vehicles with factory air bags or motorized seat belts may earn rate discounts of up to 25% or more.
  • Payment Method – By paying your policy upfront instead of making monthly payments you could save 5% or more.

Keep in mind that most of the big mark downs will not be given to the entire policy premium. Some only reduce the cost of specific coverages such as comprehensive or collision. Just because you may think having all the discounts means you get insurance for free, you’re out of luck.

A partial list of companies who might offer these money-saving discounts may include but are not limited to:

Check with all companies you are considering which discounts they offer. Savings might not be offered in every state.

Do I need special coverages?

When it comes to buying coverage, there isn’t really a cookie cutter policy. Each situation is unique so your insurance needs to address that. For instance, these questions might help in determining if your situation will benefit from professional help.

  • What are the best liability limits?
  • How high should my medical payments coverage be?
  • Will my vehicle be repaired with OEM or aftermarket parts?
  • Do I pay less if my vehicle is kept in my garage?
  • Is business equipment covered while in my vehicle?
  • Can I rent a car in Mexico?
  • Am I covered if I hit my neighbor’s mailbox?
  • What is PIP insurance?

If you don’t know the answers to these questions but one or more may apply to you, then you may want to think about talking to a licensed insurance agent. If you don’t have a local agent, complete this form or you can go here for a list of companies in your area.

Detailed coverages of your auto insurance policy

Understanding the coverages of your auto insurance policy aids in choosing the right coverages for your vehicles. The coverage terms in a policy can be confusing and reading a policy is terribly boring. Shown next are the normal coverages available from auto insurance companies.

UM/UIM Coverage

This protects you and your vehicle when the “other guys” either are underinsured or have no liability coverage at all. This coverage pays for injuries to you and your family as well as your vehicle’s damage.

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. That’s why carrying high Uninsured/Underinsured Motorist coverage is very important.

Medical costs insurance

Personal Injury Protection (PIP) and medical payments coverage pay for short-term medical expenses for things like pain medications, doctor visits and EMT expenses. The coverages can be utilized in addition to your health insurance policy or if you lack health insurance entirely. Medical payments and PIP cover both the driver and occupants in addition to being hit by a car walking across the street. Personal Injury Protection is not available in all states but can be used in place of medical payments coverage

Collision protection

Collision coverage will pay to fix damage to your Corvette from colliding with another vehicle or an object, but not an animal. You have to pay a deductible then the remaining damage will be paid by your insurance company.

Collision insurance covers things like backing into a parked car, scraping a guard rail and crashing into a ditch. Collision is rather expensive coverage, so consider removing coverage from older vehicles. You can also raise the deductible to save money on collision insurance.

Comprehensive or Other Than Collision

This coverage covers damage from a wide range of events other than collision. You first must pay your deductible and the remainder of the damage will be paid by comprehensive coverage.

Comprehensive can pay for claims such as falling objects, damage from a tornado or hurricane, damage from flooding, a broken windshield and hail damage. The most you’ll receive from a claim is the cash value of the vehicle, so if the vehicle is not worth much it’s not worth carrying full coverage.

Auto liability

This provides protection from damages or injuries you inflict on people or other property by causing an accident. It protects you against claims from other people, and does not provide coverage for your own vehicle damage or injuries.

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 liability limits of 50/100/50 that means you have a $50,000 limit per person for injuries, a limit of $100,000 in injury protection per accident, and a total limit of $50,000 for damage to vehicles and property.

Liability insurance covers things such as attorney fees, funeral expenses, loss of income, court costs and legal defense fees. The amount of liability coverage you purchase is a personal decision, but consider buying higher limits if possible.

More choices the merrier

Cheap 2005 Chevy Corvette insurance can be purchased from both online companies as well as from independent agents, and you should be comparing both to have the best rate selection. Some companies don’t offer online price quotes and usually these smaller companies provide coverage only through local independent agents.

You just read a lot of information how to compare insurance prices online. It’s most important to understand that the more price quotes you have, the more likely it is that you will get a better rate. You may even discover the best prices are with a small mutual company. These companies often have lower prices on specific markets as compared to the big name companies such as Progressive and GEICO.

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