How Much Does 1995 Chevrolet Corvette Insurance Cost?

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Jeffrey Johnson graduated summa cum laude from the University of Baltimore School of Law and has worked in legal offices and nonprofits in Maryland, Texas, and North Carolina. He has also earned an MFA in screenwriting from Chapman University and worked in film, education, and publishing. His professional writing has appeared on sites like The Manifest and Vice, and he is the author of a novel ...

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Written by Jeffrey Johnson
Insurance Lawyer Jeffrey Johnson

UPDATED: May 11, 2022

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Want better auto insurance rates? Drivers have lots of choices when trying to find the lowest priced Chevy Corvette insurance. You can either waste hours calling around to get rate comparisons or save time using the internet to compare rates.

There is a right way and a wrong way to buy auto insurance and you need to know the proper way to get price quotes on a Chevy and locate the cheapest rates.

If you are insured now or are just looking to switch companies, you can use these tips to cut your premiums while maintaining coverages. This article will introduce you to the most effective way to quote insurance and some money-saving tips. Drivers only need to know the most efficient way to compare price quotes over the internet.

Some factors that can determine what Chevy Corvette insurance costs

It’s important that you understand the rating factors that help determine auto insurance rates. Understanding what impacts premium levels allows you to make educated decisions that can help you get big savings.

The following are some of the factors companies use to determine your rates.

  • Where you live is a factor – Residing in small towns and rural areas can be a good thing when it comes to auto insurance. Lower population means a lower chance of having an accident and a lower car theft rate. City drivers have to deal with much more traffic to deal with and much longer commute distances. More time on the road means higher likelihood of an accident.
  • How’s your driving record? – Drivers with clean records receive lower rates than people who have multiple driving citations. Just one moving violation may increase your cost by as much as thirty percent. If you have severe violations such as hit and run, DWI or reckless driving convictions may find they need to file a SR-22 with their state motor vehicle department in order to drive a vehicle legally.
  • Liability coverage protects you – Liability insurance is the protection if you are found to be at fault for personal injury or accident damage. Liability insurance provides legal defense coverage up to the limits shown on your policy. Carrying liability coverage is mandatory and cheap compared to physical damage coverage, so buy as much as you can afford.
  • Lower rates with optional equipment – Purchasing a vehicle with a theft deterrent system can help bring down rates. Anti-theft devices like GM’s OnStar, tamper alarm systems and vehicle immobilizers all aid in stopping car theft.
  • Better crash test results mean better rates – Safer cars are cheaper to insure. The safest vehicles protect occupants better and lower injury rates means less money paid by your insurance company and thus lower rates. If the Chevy Corvette is rated at least an “acceptable” rating on the Insurance Institute for Highway Safety website or four stars on the National Highway Traffic Safety Administration website you may qualify for a discount.
  • Men are more aggressive – Statistics have proven women are more cautious behind the wheel. That doesn’t necessarily mean that men are worse drivers. They both are in accidents in similar percentages, but the male of the species cause more damage. Men also tend to receive more costly citations like reckless driving and DUI. Male drivers age 16 to 19 are several times more likely to be in an accident and therefore have the most expensive auto insurance rates.
  • Credit scores impact auto insurance rates – Having a bad credit score is a important factor in determining what you pay for auto insurance. So if your credit rating is lower than you’d like, you could be paying less to insure your 1995 Chevrolet Corvette by repairing your credit. Drivers with high credit scores tend to file fewer claims and have better driving records than drivers with poor credit.
  • Teen drivers pay high rates – Older drivers are viewed as being more responsible, tend to file fewer claims and receive fewer citations. Teenage drivers have a tendency to be less responsible behind the wheel and because of this, their auto insurance rates are much higher.

Take advantage of discounts

Insurance can be prohibitively expensive, but there are discounts available to help offset the cost. Some trigger automatically when you purchase, but some may not be applied and must be requested specifically before they will apply. If you don’t get every credit available, you are paying more than you should be.

  • Safety Course Discount – Completing a driver safety course could cut 5% off your bill if you qualify.
  • Memberships – Belonging to a professional or civic organization may earn a discount on your policy for Corvette insurance.
  • Save over 55 – If you’re over the age of 55, you may be able to get better car insurance rates for Corvette insurance.
  • Anti-theft System – Vehicles equipped with anti-theft or alarm systems can help prevent theft and will save you 10% or more.
  • Federal Government Employee – Active or retired federal employment can save as much as 8% for Corvette insurance with select insurance companies.
  • Discount for Good Grades – Getting good grades can earn a discount of 20% or more. Earning this discount can benefit you well after school through age 25.
  • Seat Belts Save – Using a seat belt and requiring all passengers to buckle their seat belts could cut 10% or more off your medical payments premium.
  • Sign Online – Certain companies will give a small break simply for signing on their website.
  • Bundle and Save – When you have multiple policies with one insurance company you could get a discount of up to 20% off your total premium.
  • Fewer Miles Equal More Savings – Keeping the miles down on your Chevy could be rewarded with a substantially lower rate.

Keep in mind that most discounts do not apply to the overall cost of the policy. Most only apply to individual premiums such as comp or med pay. So despite the fact that it appears all those discounts means the company will pay you, companies wouldn’t make money that way. Any qualifying discounts will reduce your premiums.

For a list of companies with the best car insurance discounts, click here to view.

How to know if you need help

When buying coverage for your vehicles, there really is no perfect coverage plan. Each situation is unique.

These are some specific questions might help in determining if your situation would benefit from professional advice.

  • Should I have combined single limit or split liability limits?
  • Does my liability insurance cover pulling a trailer or camper?
  • What if I owe more than I can insure my car for?
  • When should I not file a claim?
  • Am I covered when driving someone else’s vehicle?
  • Is other people’s property covered if stolen from my vehicle?
  • Are my friends covered when driving my car?

If you don’t know the answers to these questions, then you may want to think about talking to a licensed insurance agent. If you don’t have a local agent, complete this form. It’s fast, doesn’t cost anything and can help protect your family.

Insurance coverages 101

Knowing the specifics of your policy can be of help when determining the best coverages at the best deductibles and correct limits. Insurance terms can be impossible to understand and nobody wants to actually read their policy.

Uninsured Motorist or Underinsured Motorist insurance

Your UM/UIM coverage provides protection when the “other guys” either have no liability insurance or not enough. It can pay for medical payments for you and your occupants and also any damage incurred to your Chevy Corvette.

Since a lot of drivers carry very low liability coverage limits, it only takes a small accident to exceed their coverage. So UM/UIM coverage is a good idea. Most of the time these limits do not exceed the liability coverage limits.

Comprehensive coverage (or Other than Collision)

Comprehensive insurance will pay to fix damage OTHER than collision with another vehicle or object. You first have to pay a deductible then your comprehensive coverage will pay.

Comprehensive coverage protects against claims like rock chips in glass, a broken windshield, a tree branch falling on your vehicle, damage from flooding and hitting a bird. The highest amount you can receive from a comprehensive claim is the cash value of the vehicle, so if the vehicle’s value is low consider removing comprehensive coverage.

Auto collision coverage

This pays to fix your vehicle from damage caused by collision with a stationary object or other vehicle. You have to pay a deductible then the remaining damage will be paid by your insurance company.

Collision insurance covers things like damaging your car on a curb, rolling your car and hitting a parking meter. Collision is rather expensive coverage, so you might think about dropping it from lower value vehicles. You can also raise the deductible to get cheaper collision coverage.

Liability car insurance

Liability coverage provides protection from damages or injuries you inflict on a person or their property in an accident. This coverage protects you against other people’s claims. Liability doesn’t cover damage sustained by your vehicle in an accident.

It consists of three limits, per person bodily injury, per accident bodily injury, and a property damage limit. You might see policy limits of 100/300/100 that means you have a limit of $100,000 per injured person, a limit of $300,000 in injury protection per accident, and a limit of $100,000 paid for damaged property. Occasionally you may see a combined single limit or CSL which limits claims to one amount and claims can be made without the split limit restrictions.

Liability insurance covers things such as emergency aid, repair costs for stationary objects, repair bills for other people’s vehicles and court costs. How much liability should you purchase? That is up to you, but buy as large an amount as possible.

Insurance for medical payments

Medical payments and Personal Injury Protection insurance reimburse you for expenses for things like ambulance fees, pain medications, rehabilitation expenses, prosthetic devices and dental work. The coverages can be used to cover expenses not covered by your health insurance program or if you lack health insurance entirely. Medical payments and PIP cover both the driver and occupants and will also cover any family member struck as a pedestrian. Personal injury protection coverage is not an option in every state but can be used in place of medical payments coverage

Find Good Coverage for Less

People change insurance companies for many reasons like high rates after DUI convictions, delays in paying claims, unfair underwriting practices and extreme rates for teen drivers. It doesn’t matter why you want to switch switching companies can be easier than you think.

We just presented some good ideas how you can shop for 1995 Chevy Corvette insurance online. The key concept to understand is the more companies you get rates for, the more likely it is that you will get a better rate. You may be surprised to find that the best price on car insurance is with a small mutual company.

While you’re price shopping online, never skimp on critical coverages to save a buck or two. There have been many situations where drivers have reduced uninsured motorist or liability limits only to regret they didn’t purchase enough coverage. Your focus should be to find the BEST coverage for the lowest price.

More detailed car insurance information can be read in the articles below:

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