Compare 2003 Chevrolet Corvette Insurance Rates

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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: Jun 12, 2015

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Searching for the cheapest car insurance rates for your Chevrolet Corvette? Finding lower rates for car insurance is always a challenge for consumers new to buying insurance online. Consumers have so many options available that it can turn into more work than you anticipated to compare prices.

Choosing the best insurance company for you is quite easy. In a nutshell, every driver who is shopping for insurance coverage stands a good chance to be able to find lower rates. But car owners do need to know how the larger insurance companies market insurance on the web and use this information to your advantage.

The quickest way to compare rates is to know most of the bigger providers actually pay money for the chance to give you rate quotes. The one thing you need to do is spend a couple of minutes providing details including if you require a SR-22, the ages of drivers, types of safety features, and if the vehicle is leased. Your details is then sent to multiple car insurance providers and they provide comparison quotes immediately.

Discounts are basically free money

Companies offering auto insurance don’t list every discount very well, so here is a list both well-publicized as well as the least known auto insurance savings.

  • No Charge for an Accident – A handful of insurance companies will forgive one accident before raising your premiums as long as you don’t have any claims for a certain period of time.
  • Pay Upfront and Save – By paying your policy upfront instead of monthly or quarterly installments you can actually save on your bill.
  • More Vehicles More Savings – Insuring multiple cars or trucks on the same auto insurance policy may reduce the rate for each vehicle.
  • Theft Prevention Discount – Vehicles with anti-theft systems can help prevent theft and therefore earn up to a 10% discount.
  • Air Bag Discount – Vehicles with factory air bags or motorized seat belts can get savings of up to 25% or more.

Consumers should know that some of the credits will not apply to the overall cost of the policy. Most only apply to the cost of specific coverages such as collision or personal injury protection. So when the math indicates all the discounts add up to a free policy, it just doesn’t work that way.

A partial list of companies that may have these benefits include:

Before buying, ask every prospective company what discounts are available to you. Some discounts may not apply in every state.

Which insurance is the “right” coverage?

When it comes to buying the right insurance coverage, there isn’t really a single plan that fits everyone. Everyone’s situation is a little different.

Here are some questions about coverages that might help in determining if your situation might need an agent’s assistance.

  • Is my ex-spouse still covered by my policy?
  • Is my babysitter covered when using my vehicle?
  • Can I get a multi-policy discount for packaging my home and auto coverage?
  • Does insurance cover damages from a DUI accident?
  • How high should deductibles be on a 2003 Chevy Corvette?
  • I have a DUI can I still get coverage?
  • At what point should I drop full coverage?
  • Does my policy cover me when driving someone else’s vehicle?

If it’s difficult to answer those questions but you know they apply to you, you may need to chat with an insurance agent. To find lower rates from a local agent, simply complete this short form.

Car insurance coverages explained

Understanding the coverages of a car insurance policy aids in choosing the right coverages for your vehicles. The coverage terms in a policy can be impossible to understand and reading a policy is terribly boring.

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

Split limit liability has three limits of coverage: bodily injury per person, bodily injury per accident and property damage. As an example, you may have liability limits of 25/50/25 that means you have a $25,000 limit per person for injuries, a limit of $50,000 in injury protection per accident, and a total limit of $25,000 for damage to vehicles and property.

Liability insurance covers things such as emergency aid, funeral expenses, medical services and loss of income. How much liability should you purchase? That is a decision to put some thought into, but it’s cheap coverage so purchase higher limits if possible.

Coverage for medical payments – Med pay and PIP coverage reimburse you for expenses for doctor visits, funeral costs, hospital visits and rehabilitation expenses. They are often used in conjunction with a health insurance plan or if there is no health insurance coverage. Coverage applies to you and your occupants and will also cover if you are hit as a while walking down the street. Personal injury protection coverage is not an option in every state and gives slightly broader coverage than med pay

Comprehensive coverages – Comprehensive insurance coverage pays for damage caused by mother nature, theft, vandalism and other events. You need to pay your deductible first then your comprehensive coverage will pay.

Comprehensive coverage pays for claims like hitting a deer, theft, damage from getting keyed, falling objects and a tree branch falling on your vehicle. The maximum payout you’ll receive from a claim is the market value of your vehicle, so if the vehicle’s value is low consider removing comprehensive coverage.

Uninsured and underinsured coverage – This provides protection from other motorists when they either have no liability insurance or not enough. Covered claims include medical payments for you and your occupants and also any damage incurred to your Chevy Corvette.

Due to the fact that many drivers carry very low liability coverage limits, their limits can quickly be used up. So UM/UIM coverage should not be overlooked.

Collision coverages – This covers damage to your Corvette from colliding with an object or car. A deductible applies and then insurance will cover the remainder.

Collision coverage protects against things such as hitting a mailbox, colliding with a tree, crashing into a ditch, backing into a parked car and sideswiping another vehicle. This coverage can be expensive, so consider dropping it from vehicles that are 8 years or older. Drivers also have the option to increase the deductible to bring the cost down.

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