2005 Chevrolet Corvette Insurance Rates – 5 Discounts for Cheapest Quotes

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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: Aug 23, 2022

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Finding the cheapest insurance for a Chevy Corvette could be a painful process, but you can learn a few tricks to save time. There are more efficient ways to buy car insurance and we’ll show you the quickest way to price shop coverage for a new or used Chevy and obtain the lowest price from both online companies and local agents.

It’s important to price shop coverage every six months due to the fact that insurance rates are rarely the same from one policy term to another. Even if you think you had the best rates for Corvette coverage last year you can probably find a better price now. Starting now, block out anything you think you know about car insurance because we’re going to show you the things you must know in order to properly buy coverages and cut your premium.

If you have a current insurance coverage policy or are shopping for new coverage, you can use this information to shop for the lowest rates and still get good coverage. Locating the lowest cost protection is simple if you know the tricks. Vehicle owners just need to know the proper methods to compare company rates online.

The best way to compare insurance rates in your area utilizes the fact auto insurance companies actually pay money for the chance to quote your coverage. All you need to do is provide a small amount of information including how you use your vehicles, if you have a valid license, deductibles desired, and whether you are married. That information is automatically sent to multiple insurance coverage providers and you will get price comparisons almost instantly.

Cut your car insurance rates with these five discounts

Auto insurance companies don’t always list all their discounts very clearly, so we took the time to find both the well known and the harder-to-find discounts you could be receiving. If you’re not getting every credit you deserve, you are throwing money away.

  • Multi-car Discount – Buying insurance for more than one vehicle on one policy qualifies for this discount.
  • Employee of Federal Government – Being employed by or retired from a federal job may qualify you for a discount for Corvette coverage depending on your company.
  • Payment Method – By paying your policy upfront rather than paying monthly you could save 5% or more.
  • Homeowners Discount – Owning a house can save you money because maintaining a house shows financial diligence.
  • Discount for Swiching Early – Select companies give a discount for signing up before your current policy expires. The savings is around 10%.

A little note about advertised discounts, most credits do not apply to the entire cost. A few only apply to the cost of specific coverages such as comp or med pay. So when the math indicates you could get a free car insurance policy, it just doesn’t work that way.

A partial list of companies that may have these money-saving discounts may include but are not limited to:

It’s a good idea to ask all companies you are considering which discounts you may be entitled to. Discounts might not be offered in every state.

You are unique and your insurance should be too

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

For instance, these questions could help you determine whether or not you would benefit from professional advice.

  • Can my teen drive my company car?
  • Why does it cost so much to insure a teen driver?
  • Why am I required to get a high-risk car insurance policy?
  • Who is covered when they drive my 2005 Chevy Corvette?
  • Do I need motorclub coverage?
  • Can I afford low physical damage deductibles?

If you can’t answer these questions but a few of them apply, then you may want to think about talking to an agent. To find an agent in your area, simply complete this short form. It’s fast, doesn’t cost anything and can provide invaluable advice.

Parts of your insurance policy

Having a good grasp of insurance can be of help when determining appropriate coverage and proper limits and deductibles. The coverage terms in a policy can be ambiguous and nobody wants to actually read their policy.

Coverage for medical payments – Personal Injury Protection (PIP) and medical payments coverage kick in for expenses such as rehabilitation expenses, X-ray expenses and prosthetic devices. The coverages can be used to cover expenses not covered by your health insurance policy or if you lack health insurance entirely. It covers you and your occupants and also covers being hit by a car walking across the street. PIP coverage is not an option in every state but can be used in place of medical payments coverage

Uninsured and underinsured coverage – Your UM/UIM coverage gives you protection when other motorists do not carry enough liability coverage. This coverage pays for injuries to you and your family 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. That’s why carrying high Uninsured/Underinsured Motorist coverage is important protection for you and your family.

Collision coverages – This will pay to fix damage to your Corvette resulting from a collision with another vehicle or an object, but not an animal. You will need to pay your deductible and the rest of the damage will be paid by collision coverage.

Collision insurance covers claims such as rolling your car, crashing into a ditch and hitting a mailbox. Collision coverage makes up a good portion of your premium, so analyze the benefit of dropping coverage from lower value vehicles. You can also bump up the deductible in order to get cheaper collision rates.

Liability car insurance – This coverage protects you from damage or injury you incur to other’s property or people. Liability coverage has three limits: bodily injury for each person injured, bodily injury for the entire accident and a property damage limit. As an example, you may have values of 50/100/50 which stand for a limit of $50,000 per injured person, $100,000 for the entire accident, and $50,000 of coverage for damaged property.

Liability coverage pays for claims like loss of income, bail bonds, medical services, court costs and medical expenses. How much liability should you purchase? That is a personal decision, but it’s cheap coverage so purchase as large an amount as possible.

Comprehensive coverages – This coverage will pay to fix damage that is not covered by collision coverage. You first must pay your deductible and the remainder of the damage will be paid by comprehensive coverage.

Comprehensive coverage pays for things such as falling objects, damage from a tornado or hurricane and rock chips in glass. The maximum payout your insurance company will pay is the cash value of the vehicle, so if your deductible is as high as the vehicle’s value it’s not worth carrying full coverage.

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