1998 Chevrolet Corvette Insurance Cost – 7 Tips for Cheaper Prices

Want lower insurance rates for your Chevrolet Corvette? Did you fall for a flashy sales pitch and buy high-priced insurance? Believe me, many consumers are feeling buyer’s remorse and feel like there’s no way out.

Since consumers have many different company options, it can be impossible to choose the best company.

Compare Insurance Today

All major insurance companies like Progressive, Geico, Allstate and State Farm give insurance quotes directly from their websites. Getting quotes doesn’t take much effort as you just type in the coverages you want as requested by the quote form. Once you submit the form, the company’s rating system automatically retrieves your driving and credit reports and gives you a price quote. This makes it a lot easier to compare rates but the time it takes to visit a lot of sites and complete many quote forms can get tiresome after awhile. But it’s very important to have as many quotes as possible in order to find the best price possible.

A less time-consuming method to compare insurance pricing makes use of a single form to obtain quotes from a bunch of companies at once. It saves time, helps eliminate reptitive entry, and makes price shopping online much easier. Once the form is submitted, your coverage is rated and you can choose your choice of the quotes that you receive.

If you find a better price you simply finish the application and buy the policy. The entire process just takes a couple of minutes and you will know how your current rates stack up.

In order to compare pricing, simply click here to open in new window and input your coverage information. If you have your current policy handy, we recommend you copy the coverage information exactly as shown on your declarations page. This makes sure you’re receiving rate quotes based on the exact same insurance coverage.

Do drivers who switch really save?

Companies like Progressive, Geico, Allstate and State Farm continually stream ads on television and other media. All the ads make the same claim that you can save after switching your policy. How do they all claim to save you money? This is how they do it.

All the different companies are able to cherry pick for the driver that earns them a profit. A good example of a preferred risk might be profiled as between the ages of 40 and 55, insures multiple vehicles, and chooses high deductibles. A customer that hits that “sweet spot” will qualify for the lowest rates and is almost guaranteed to save quite a bit of money when switching.

Potential insureds who don’t qualify for these standards must pay higher rates which leads to business not being written. The ads say “customers that switch” not “everyone that quotes” save money. That’s why insurance companies can confidently advertise the savings.

This illustrates why you should compare many company’s rates. It’s not possible to predict which company will give you the biggest savings on Chevy Corvette insurance.

Take advantage of discounts

The price of auto insurance can be rather high, but there could be available discounts that can drop the cost substantially. Larger premium reductions will be automatically applied at quote time, but a few must be specifically requested prior to receiving the credit.

  • Lower Rates for Military – Having a deployed family member could mean lower rates.
  • Federal Employees – Being employed by or retired from a federal job may qualify you for a discount for Corvette coverage with certain companies.
  • Senior Discount – Mature drivers may qualify for better auto insurance rates for Corvette coverage.
  • Air Bag Discount – Cars that have air bags or automatic seat belts may earn rate discounts of 20% or more.
  • Sign Online – A handful of insurance companies will discount your bill up to fifty bucks simply for signing over the internet.
  • Good Students Pay Less – A discount for being a good student can save 20 to 25%. The good student discount can last up until you turn 25.
  • Memberships – Participating in certain professional organizations may earn a discount when buying auto insurance for Corvette coverage.

It’s important to understand that most of the big mark downs will not be given to the entire cost. Most only cut the price of certain insurance coverages like comp or med pay. So when it seems like you could get a free auto insurance policy, companies don’t profit that way. But all discounts will cut your premiums.

To see a list of providers who offer auto insurance discounts, click this link.

How to know if you need help

When choosing coverage for your vehicles, there isn’t really a “best” method to buy coverage. Everyone’s situation is unique and a cookie cutter policy won’t apply. These are some specific questions could help you determine whether or not you might need professional guidance.

  • Am I covered when pulling a rental trailer?
  • Does my liability insurance cover pulling a trailer or camper?
  • Why am I required to get a high-risk car insurance policy?
  • What is covered by UM/UIM coverage?
  • Is motorclub coverage worth it?
  • What should my uninsured motorist coverage limits be in my state?

If you’re not sure about those questions but a few of them apply, you might consider talking to a licensed agent. If you don’t have a local agent, fill out this quick form or you can also visit this page to select a carrier

Specifics of your insurance policy

Learning about specific coverages of your insurance policy can help you determine the right coverages and the correct deductibles and limits. Policy terminology can be difficult to understand and nobody wants to actually read their policy. Listed below are the usual coverages available from insurance companies.

Collision coverage

Collision coverage will pay to fix damage to your Corvette resulting from colliding with another vehicle or an object, but not an animal. You have to pay a deductible and then insurance will cover the remainder.

Collision coverage protects against things like hitting a parking meter, colliding with another moving vehicle, damaging your car on a curb, driving through your garage door and sustaining damage from a pot hole. Collision is rather expensive coverage, so consider dropping it from vehicles that are 8 years or older. Drivers also have the option to raise the deductible to bring the cost down.

Coverage for liability

Liability insurance can cover injuries or damage you cause to people or other property in an accident. This coverage protects you from claims by other people, and does not provide coverage for your own vehicle damage or injuries.

It consists of three limits, bodily injury for each person injured, bodily injury for the entire accident and a property damage limit. You might see limits of 25/50/25 which means a $25,000 limit per person for injuries, a per accident bodily injury limit of $50,000, and property damage coverage for $25,000. Occasionally you may see a combined limit which combines the three limits into one amount rather than limiting it on a per person basis.

Liability coverage pays for claims such as court costs, attorney fees, structural damage, loss of income and repair bills for other people’s vehicles. How much liability should you purchase? That is a personal decision, but buy higher limits if possible.

Med pay and Personal Injury Protection (PIP)

Medical payments and Personal Injury Protection insurance pay for expenses for things like chiropractic care, funeral costs, EMT expenses and rehabilitation expenses. They can be used to fill the gap from your health insurance policy or if you are not covered by health insurance. Medical payments and PIP cover you and your occupants as well as any family member struck as a pedestrian. Personal Injury Protection is not an option in every state and may carry a deductible

Comprehensive insurance

Comprehensive insurance will pay to fix damage that is not covered by collision coverage. You first must pay your deductible then your comprehensive coverage will pay.

Comprehensive coverage pays for claims like hail damage, damage from flooding 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/Underinsured Motorist (UM/UIM)

Uninsured or Underinsured Motorist coverage protects you and your vehicle’s occupants from other motorists when they do not carry enough liability coverage. Covered claims include injuries sustained by your vehicle’s occupants as well as damage to your Chevy Corvette.

Due to the fact that many drivers only carry the minimum required liability limits, their liability coverage can quickly be exhausted. For this reason, having high UM/UIM coverages should not be overlooked. Usually the UM/UIM limits are set the same as your liablity limits.

Get your money’s worth

In this article, we presented a lot of tips how to lower your 1998 Chevy Corvette insurance rates. The key thing to remember is the more rate quotes you have, the better chance you’ll have of finding lower rates. Consumers may even find the lowest priced car insurance comes from a lesser-known regional company. These smaller insurers may often insure only within specific states and give getter rates than the large multi-state companies such as State Farm and Allstate.

When shopping online for car insurance, never reduce coverage to reduce premium. Too many times, drivers have reduced uninsured motorist or liability limits only to find out that a couple dollars of savings turned into a financial nightmare. The aim is to buy a smart amount of coverage at an affordable rate, not the least amount of coverage.

Affordable insurance is available from both online companies and also from your neighborhood agents, so compare prices from both in order to have the best chance of saving money. Some insurance providers may not provide online quoting and usually these smaller companies provide coverage only through local independent agents.

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