How Much Does 2011 Chevrolet Corvette Car 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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Looking for better 2011 Chevrolet Corvette car insurance prices? Expensive auto insurance can dwindle your savings account and force you to prioritize other expenses. How much does a 2011 Corvette cost to insure?Compare price quotes to find out. Comparing price quotes is a smart way to tighten up your finances.

There are many auto insurance companies to purchase coverage from, and even though it’s nice to be able to choose, it can be more challenging to adequately compare rates.

Auto Insurance Prices

Most companies give prices for coverage online. Obtaining pricing is quite simple as you just enter your required coverages into the quote form. When the form is submitted, their rating system will order information on your driving record and credit history and provides a quote based on these and other factors. Quoting online streamlines rate comparisons, but the work required to visit each company’s website and repetitively complete many quote forms can be a bit repetitive. But it is imperative to compare as many rates as possible in order to find lower prices.

The quickest way to lower your rates utilizes a single form to get prices from a lot of companies. This type of form saves time, requires much less work on your part, and makes rate comparisons a lot less work. After sending the form, it is quoted and you can select your choice of the pricing results. If a lower price is quoted, it’s easy to complete the application and purchase coverage. The entire process takes 15 minutes at the most and could lower your rates considerably.

To save time and compare rates using this form now, simply click here to open in new window and input your coverage information. If you currently have coverage, we recommend you complete the form with your coverages as shown on your current policy. This ensures you are getting comparison quotes based on similar coverages.

Save $385 a year? Really?

Progressive, Allstate and GEICO regularly use ads in print and on television. All the companies make the same claim about savings if you move to their company. How do they all claim to save you money?

All companies have a preferred profile for the right customer that is profitable for them. A good example of a preferred risk might be profiled as between the ages of 30 and 50, a clean driving record, and has excellent credit. Any driver who meets those qualifications receives the best rates and as a result will probably save quite a bit of money when switching.

Drivers who are not a match for the “perfect” profile will be charged more money which usually ends up with the customer not buying. Company advertisements say “customers who switch” not “everybody who quotes” save that kind of money. That’s the way companies can make those claims. That is why drivers should get as many comparisons as possible. It is impossible to predict the company that will have the lowest Chevy Corvette insurance rates.

Why Your 2011 Chevy Corvette Car Insurance Rates May be High

Consumers need to have an understanding of some of the elements that help determine the rates you pay for car insurance. Understanding what controls the rates you pay helps enable you to make changes that can help you get cheap car insurance rates.

The following are a partial list of the pieces that factor into your rates.

  • Where you live – Residing in less populated areas has it’s advantages when insuring your vehicles. Fewer drivers means fewer accidents as well as less vandalism and auto theft. City drivers regularly have congested traffic and much longer commute distances. Higher commute times can result in more accidents.
  • What are your deductibles? – Deductibles for physical damage represent how much money you are required to spend out-of-pocket if you file a covered claim. Physical damage coverage, otherwise known as comp (or other than collision) and collision, is used to repair damage to your car. Some examples of claims that would be covered are colliding with a building, vandalism, and rolling your vehicle. The more money the insured has to pay upfront, the less your car insurance will be on Corvette insurance.
  • Your age impacts your rates – Mature drivers are more responsible, tend to file fewer claims and get fewer tickets. Teen drivers have a tendency to be careless and easily distracted in a vehicle therefore car insurance rates are much higher.
  • The more you drive the more you pay – The more miles you rack up on your Chevy every year the higher your rate. The majority of insurers rate vehicles based upon how you use the vehicle. Cars left parked in the garage receive lower rates compared to those used for work or business. Make sure your car insurance policy is rated on how each vehicle is driven, because improper ratings can cost you money. If your policy improperly rates your Corvette can cost quite a bit.
  • Small claims can cost you – Auto insurance companies provide better rates to policyholders who do not rely on their insurance for small claims. If you are a frequent claim filer, you can definitely plan on either policy cancellation or increased premiums. Insurance coverage is designed for the large, substantial claims.
  • Allowing your policy to lapse raises rates – Driving without insurance can get your license suspended and you will pay a penalty because you let your coverage lapse. Not only will rates go up, but being ticketed for driving with no insurance can result in a revoked license or a big fine.Then you may be required to provide proof of insurance in the form of an SR-22 filing with your state DMV.
  • Traffic citations inflate rates – Only having one moving violation may increase your cost by twenty percent. Drivers with clean records have lower premiums than bad drivers. Drivers with serious tickets like hit and run, DWI or reckless driving convictions are required to file a proof of financial responsibility form (SR-22) with their state DMV in order to continue driving.

You Probably Qualify for Some Auto Insurance Discounts

Auto insurance companies don’t always advertise every discount very well, so we researched both the well known and the more hidden savings tricks you should be using.

  • Drive Safe and Save – Drivers who avoid accidents can pay as much as 50% less on Corvette insurance than less cautious drivers.
  • Multiple Vehicles – Buying insurance for multiple vehicles on the same car insurance policy may reduce the rate for each vehicle.
  • Federal Employees – Being employed by or retired from a federal job can earn a discount up to 10% on Corvette insurance with a few car insurance companies.
  • Passive Restraints – Vehicles with factory air bags and/or automatic seat belt systems can receive discounts of 20% or more.
  • Claim Free – Good drivers with no accidents pay much less when compared with frequent claim filers.
  • Discount for Life Insurance – Larger companies have better rates if you take out auto and life insurance together.
  • Anti-theft System – Cars that have factory anti-theft systems prevent vehicle theft and qualify for as much as a 10% discount.
  • Good Students Pay Less – Performing well in school can get you a discount of up to 25%. Earning this discount can benefit you until age 25.
  • Discount for New Cars – Putting insurance coverage on a new car is cheaper compared to insuring an older model.

Keep in mind that most credits do not apply to all coverage premiums. Most cut individual premiums such as liability, collision or medical payments. So when the math indicates having all the discounts means you get insurance for free, it just doesn’t work that way.

For a list of insurers who offer car insurance discounts, click here.

There’s No Such Thing as the Perfect Car Insurance Policy

When it comes to choosing coverage for your vehicles, there isn’t really a “best” method to buy coverage. Everyone’s situation is a little different and your policy should reflect that. These are some specific questions can aid in determining if your situation will benefit from professional help.

  • Does car insurance cover theft of personal property?
  • Can my teen driver be rated on a liability-only vehicle?
  • Are rock chip repairs covered?
  • Am I covered when using my vehicle for business?
  • Is other people’s property covered if stolen from my vehicle?
  • When can my company non-renew my policy?
  • How can I force my company to pay a claim?
  • Is my dog or cat covered if injured in an accident?
  • Can I pay claims out-of-pocket if I buy high deductibles?

If you don’t know the answers to these questions but one or more may apply to you, you may need to chat with an agent. If you want to speak to an agent in your area, complete this form or click here for a list of car insurance companies in your area.

2011 Chevy Corvette Car Insurance Coverage Options

Having a good grasp of insurance helps when choosing which coverages you need and the correct deductibles and limits. Insurance terms can be confusing and reading a policy is terribly boring. Shown next are typical coverage types found on the average insurance policy.

Liability

Liability insurance will cover injuries or damage you cause to other people or property by causing an accident. It protects you against other people’s claims, and does not provide coverage for your injuries or vehicle damage.

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 commonly see limits of 100/300/100 which stand for a $100,000 limit per person for injuries, a total of $300,000 of bodily injury coverage per accident, and property damage coverage for $100,000.

Liability can pay for claims such as court costs, bail bonds and repair bills for other people’s vehicles. The amount of liability coverage you purchase is your choice, but consider buying higher limits if possible.

Medical expense insurance

Personal Injury Protection (PIP) and medical payments coverage reimburse you for expenses such as rehabilitation expenses, X-ray expenses, doctor visits, surgery and nursing services. They are often used to fill the gap from your health insurance policy or if you do not have health coverage. It covers both the driver and occupants and will also cover being hit by a car walking across the street. Personal injury protection coverage is not an option in every state and gives slightly broader coverage than med pay

Collision coverage protection

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

Collision coverage pays for claims like hitting a parking meter, sustaining damage from a pot hole, driving through your garage door, crashing into a building and scraping a guard rail. Paying for collision coverage can be pricey, so consider dropping it from vehicles that are 8 years or older. Another option is to choose a higher deductible to bring the cost down.

Comprehensive (Other than Collision)

This covers damage OTHER than collision with another vehicle or object. A deductible will apply then the remaining damage will be covered by your comprehensive coverage.

Comprehensive coverage protects against things like a broken windshield, a tree branch falling on your vehicle, hitting a bird, vandalism and damage from a tornado or hurricane. The maximum payout a insurance company will pay at claim time is the ACV or actual cash value, so if it’s not worth much more than your deductible it’s probably time to drop comprehensive insurance.

Protection from uninsured/underinsured drivers

Your UM/UIM coverage gives you protection from other motorists when they do not carry enough liability coverage. Covered losses include medical payments for you and your occupants as well as damage to your Chevy Corvette.

Because many people only purchase the least amount of liability that is required, their liability coverage can quickly be exhausted. So UM/UIM coverage is very important.

In Conclusion

Lower-priced 2011 Chevy Corvette insurance is attainable online in addition to many insurance agents, so you should be comparing quotes from both to have the best chance of lowering rates. A few companies do not provide online price quotes and most of the time these small insurance companies sell through independent agents.

As you prepare to switch companies, do not reduce needed coverages to save money.f There are a lot of situations where someone sacrificed liability coverage limits only to discover later that saving that couple of dollars actually costed them tens of thousands. Your aim should be to purchase a proper amount of coverage at the best price while not skimping on critical coverages.

We just showed you some good ideas how to save on insurance. The most important thing to understand is the more rate quotes you have, the higher the chance of saving money. You may be surprised to find that the most savings is with a company that doesn’t do a lot of advertising. These smaller insurers may cover specific market segments cheaper compared to the large companies like Progressive and GEICO.

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