Do you get exhausted from trying to scrape together enough money to buy insurance? You're in the same situation as most other people in Texas.
Unimaginable but true, about 70% of customers have stayed with the same insurance company for at least the last four years, and almost half have never compared rate quotes at all. With the average premium in Texas being $2,680, drivers could save nearly 70% each year just by shopping around, but they just don't understand how easy it is to save money by comparing rate quotes.
Steps to finding affordable Chevy Corvette insurance in Plano
If your goal is the lowest price, then the best way to get cheaper Chevy Corvette insurance in Plano is to begin comparing prices regularly from insurance carriers who provide car insurance in Texas. Drivers can shop around by following these guidelines.
Step 1: Spend some time learning about coverages and the measures you can control to prevent rate increases. Many risk factors that drive up the price like multiple speeding tickets and a negative credit score can be amended by being financially responsible and driving safely.
Step 2: Obtain price quotes from exclusive agents, independent agents, and direct providers. Direct companies and exclusive agencies can provide rates from a single company like GEICO or Farmers Insurance, while independent agencies can provide price quotes from multiple sources. View insurance agents
Step 3: Compare the quotes to your current policy to see if switching to a new carrier will save money. If you find better rates and change companies, make sure the effective date of the new policy is the same as the expiration date of the old one.
Step 4: Tell your current company of your decision to cancel your current car insurance policy. Submit payment and a completed application to your new company or agent. As soon as you have the new policy, keep the new proof of insurance paperwork in your vehicle's glove compartment or console.
The key thing to remember is to use the same level of coverage on each quote request and to quote with as many companies as feasibly possible. Doing this enables the most accurate price comparison and a better comparison of the market.
Online insurance companies like GEICO, Progressive and Allstate all promote huge savings with fancy advertisements and it can be hard to avoid their marketing magic and effectively compare rates to find the best deal.
You should make it a habit to get comparison quotes periodically because insurance prices change frequently. Just because you found the lowest quotes on Chevy Corvette insurance in Plano a year ago there may be better deals available now. Block out anything you think you know about insurance because you're about to learn the best way to find great coverage at a great price.
Many insurance companies like Progressive, GEICO, Allstate and State Farm allow consumers to get coverage prices on the web. Comparing prices online for Chevy Corvette insurance in Plano is fairly simple because it's just a matter of typing in the coverage amounts you desire into a form. When complete, their rating system pulls your credit score and driving record and quotes a price based on many factors. The ability to get online price quotes for Chevy Corvette insurance in Plano helps simplify price comparisons, and it's necessary to perform this step in order to find the lowest payment.
To quickly find out how much you can save on car insurance, visit the companies below or click here to submit a quote request to multiple companies at once. If you currently have coverage, we recommend you input your coverages as close as possible to your current policy. Doing this assures you will receive a fair comparison for exact coverage.
The companies shown below provide price quotes in Plano, TX. If you want to find the cheapest car insurance in Plano, we recommend you visit several of them in order to get a fair rate comparison.
Lower-cost Chevy Corvette insurance in Plano
Companies that sell car insurance don't list all available discounts very well, so we took the time to find a few of the more common and the harder-to-find discounts that you can inquire about if you buy Plano car insurance online.
- First Accident Forgiveness - Not really a discount, but certain companies allow you one accident before your rates go up if you are claim-free for a set time period.
- Low Mileage Discounts - Driving fewer miles can qualify you for cheaper rates.
- No Claim Discounts - Drivers who don't have accidents can earn big discounts as compared to drivers with a long claim history.
- Defensive Driving Course - Participating in a course in defensive driving could save 5% or more and easily pay for the cost of the class.
- Save with More Vehicles Insured - Buying coverage for more than one vehicle with one company may reduce the rate for each vehicle.
- Responsible Driver Discount - Drivers who don't get into accidents may save up to 50% more as compared to drivers with claims.
- Drivers Education - Reduce the cost of insurance for teen drivers by having them successfully take a driver's education course in school.
- Government Employees - Federal government employees can earn a discount up to 10% depending on your auto insurance provider.
You should keep in mind that most discount credits are not given to all coverage premiums. Most cut the cost of specific coverages such as comprehensive or collision. If you do the math and it seems like having all the discounts means you get insurance for free, insurance companies wouldn't stay in business.
The information below illustrates the difference between Chevy Corvette annual premium costs with and without discounts applied. The rates are based on a male driver, no claims or violations, Texas state minimum liability limits, full coverage, and $250 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with multi-car, marriage, safe-driver, claim-free, multi-policy, and homeowner discounts applied.
Large auto insurance companies and their possible discounts are shown below.
- Travelers may include discounts for good student, early quote, IntelliDrive, continuous insurance, home ownership, new car, and hybrid/electric vehicle.
- 21st Century has savings for good student, anti-lock brakes, early bird, student driver, driver training, and defensive driver.
- State Farm discounts include safe vehicle, accident-free, Steer Clear safe driver discount, multiple autos, good student, Drive Safe & Save, and good driver.
- GEICO may have discounts that include good student, anti-theft, daytime running lights, multi-vehicle, multi-policy, seat belt use, and anti-lock brakes.
- SAFECO includes discounts for safe driver, accident prevention training, teen safe driver, bundle discounts, and multi-car.
- AAA offers discounts including pay-in-full, good student, multi-policy, education and occupation, good driver, anti-theft, and AAA membership discount.
If you want affordable Plano car insurance quotes, ask every prospective company how many discounts you can get. Discounts may not be available in Plano. For a list of providers who offer free Chevy Corvette insurance quotes in Plano, click here.
Insurance coverage analysis
The table below showcases detailed analysis of insurance policy prices for Chevy Corvette models. Having knowledge of how insurance premiums are figured can aid in making smart choices when purchasing an auto insurance policy.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|Corvette 2-Dr Coupe||$242||$542||$326||$20||$98||$1,228||$102|
|Corvette GS 2-Dr Coupe||$286||$604||$326||$20||$98||$1,334||$111|
|Corvette 2-Dr Convertible||$286||$604||$422||$24||$126||$1,462||$122|
|Corvette GS 2-Dr Convertible||$310||$666||$422||$24||$126||$1,548||$129|
|Corvette Z06 2-Dr Coupe||$310||$666||$326||$20||$98||$1,420||$118|
|Corvette ZR1 2-Dr Coupe||$400||$918||$326||$20||$98||$1,762||$147|
|Get Your Own Custom Quote Go|
Data assumes single female driver age 40, no speeding tickets, no at-fault accidents, $1000 deductibles, and Texas minimum liability limits. Discounts applied include claim-free, multi-vehicle, safe-driver, multi-policy, and homeowner. Estimates do not factor in specific Plano garaging location which can change premiums greatly.
Safe drivers Plano pay cheaper rates
The diagram below highlights how traffic violations and at-fault claims increase Chevy Corvette insurance rates for different categories of driver ages. The premiums assume a single male driver, full physical damage coverage, $1,000 deductibles, and no policy discounts are applied.
Full coverage rates compared to liability-only
The illustration below shows the comparison of Chevy Corvette insurance premiums when comparing full coverage to liability only. The premiums are based on no driving violations, no at-fault accidents, $1,000 deductibles, drivers are single, and no other discounts are factored in.
When to switch to liability coverage only
There is no definitive rule to stop paying for full coverage on your policy, but there is a general guideline. If the yearly cost for physical damage coverage is about 10% or more of the replacement cost of your vehicle minus the policy deductible, then you might consider buying liability only.
For example, let's assume your Chevy Corvette replacement value is $4,000 and you have $1,000 physical damage deductibles. If your vehicle is severely damaged, the most your company will settle for is $3,000 after the deductible is paid. If you are paying in excess of $300 annually for physical damage coverage, then you might consider buying liability only.
There are some cases where dropping full coverage is not a good idea. If you still owe money on your vehicle, you are required to maintain full coverage as part of the loan conditions. Also, if you don't have enough money to buy a different vehicle if your current one is damaged, you should not remove full coverage.
Auto insurance is available from local insurance agents
Some consumers would rather talk to an insurance agent and we recommend doing that A nice benefit of comparing rate quotes online is that you can find cheap auto insurance quotes and still have an agent to talk to.
For easy comparison, once you complete this short form, your information is submitted to local insurance agents in Plano who want to provide quotes to get your business. You don't have to leave your computer because prices are sent to the email address you provide. You can find better rates AND a local agent. If you want to compare prices from one company in particular, you would need to search and find their rate quote page and fill out the quote form the provide.
Deciding on an company should include more criteria than just a low price. Below are some questions you should ask.
- Will you get a loaner vehicle if you car is being repaired?
- Do they have designations such as AIC, CPCU, or CIC?
- What insurance companies do they recommend if they are an independent agent?
- Is auto insurance their primary focus in Plano?
- Do they reduce claim amounts on high mileage vehicles?
Below is a short list of car insurance companies in Plano willing to provide price quotes for Chevy Corvette insurance in Plano.
Upon getting satisfactory answers to any questions you have as well as an affordable premium quote, you've probably found a company that is professional and can service your policy.
Car insurance can be complex
Keep in mind that when it comes to choosing the right insurance coverage for your vehicles, there is no cookie cutter policy. Your needs are unique to you so your insurance should reflect that Here are some questions about coverages that may help highlight if you would benefit from an agent's advice.
- If my pet gets injured in an accident are they covered?
- Are my tools covered if they get stolen from my vehicle?
- Is rental equipment covered for theft or damage?
- What is PIP insurance?
- Does car insurance cover theft of personal property?
- What is the minimum liability in Texas?
- Is my vehicle covered by my employer's policy when using it for work?
- Are combined or split liability limits better?
- Am I covered if I break a side mirror?
If you're not sure about those questions but you think they might apply to your situation then you might want to talk to an insurance agent. To find an agent in your area, fill out this quick form or go to this page to view a list of companies.
How to Lower Your Insurance Premiums
Many things are used in the calculation when you get your auto insurance bill. Some are pretty understandable such as your driving history, but others are not as apparent like your continuous coverage or your vehicle rating. When buying auto insurance it's important to understand the different types of things that are used to determine your premiums. If you know what influences your rates, this enables you to make decisions that could help you find cheaper rates.
- Little extras can really add up - Policies have extra coverages that you can buy if you aren't careful. Coverages for rental car coverage, high-cost glass coverage, and extra equipment coverage could be just wasting money. You may think they are a good idea when discussing your needs, but if you have no use for them remove them from your policy.
- Deter vehicle theft - Purchasing a vehicle with advanced anti-theft systems can save you some money. Theft deterrent systems like LoJack tracking devices, vehicle tamper alarm systems or GM's OnStar system can help prevent vehicle theft.
Does insurance cost more for males? - Over the last 50 years, statistics have shown women tend to be less risk to insure than men. Now that doesn't mean females are better at driving than males. Men and women have at-fault accidents in similar percentages, but men have costlier accidents. Men also statistically receive more costly citations like reckless driving and DUI. Teenage male drivers are several times more likely to be in an accident and therefore pay the highest rates.
The illustration below visualizes the comparison of Chevy Corvette annual premium costs for male and female drivers. The prices are based on no violations or accidents, full coverage, $500 deductibles, single status, and no other discounts are factored in.
- Employer reflects on premiums - Do you have a high-stress occupation? Jobs like doctors, social workers, and stock brokers are shown to have higher rates than the rest of us because of intense work requirements and long work hours. On the other hand, occupations like farmers, historians and retirees have the lowest average rates.
High performance vehicles cost more to insure - The performance of the car, truck or SUV you are buying insurance for makes a significant difference in determining your rates. The lowest premiums are usually found on economy passenger cars, but your final cost has many other factors.
The data below uses these assumptions: single female driver age 20, full coverage with $250 deductibles, and no discounts or violations. The data compares Chevrolet Corvette car insurance rates compared to other vehicles that have a range of risk factors.
Mature drivers pay less - Older people are shown to be more cautious, tend to file fewer claims, and get fewer tickets. Teen drivers have been known to be inattentive when driving with friends and because of this, their auto insurance rates are much higher.
The data below uses these variables: single driver, full coverage with $100 deductibles, and no discounts or violations.
- A good credit rating can save money - Your credit rating is a large factor in determining what you pay for auto insurance. So if your credit history could use some work, you could be paying less to insure your Chevrolet Corvette if you clean up your credit. Consumers who have good credit tend to be more responsible than drivers who have poor credit scores.
- Get better rates if married - Being married can get you a discount on your auto insurance policy. It may mean you are more responsible and statistics prove married couples file fewer claims.
Loss probability for a Chevy Corvette - Insurance companies analyze claim trends for every vehicle to calculate a price that will offset any claims. Vehicles that tend to have higher number or severity of losses will have a higher premium rate. The next table illustrates the historical insurance loss data for Chevy Corvette vehicles.
For each coverage type, the statistical loss for all vehicles combined as an average is a value of 100. Values that are under 100 indicate a favorable loss history, while percentages above 100 point to more frequent losses or an increased probability of a larger loss.
Auto Insurance Loss Data for Chevrolet Corvette Models Vehicle Model Collision Property Damage Comp Personal Injury Medical Payment Bodily Injury Chevrolet Corvette 2dr 116 36 101 42 48 39 Chevrolet Corvette Convertible 99 25 57 36 Chevrolet Corvette Z06 2dr 176 126BETTERAVERAGEWORSE
Empty fields indicate not enough data collected
Data Source: iihs.org (Insurance Institute for Highway Safety) for 2013-2015 Model Years
Why you need insurance for your vehicle
Despite the potentially high cost of Chevy Corvette insurance, paying for insurance serves a purpose in several ways.
- Just about all states have mandatory liability insurance requirements which means the state requires a minimum amount of liability insurance if you want to drive legally. In Texas these limits are 30/60/25 which means you must have $30,000 of bodily injury coverage per person, $60,000 of bodily injury coverage per accident, and $25,000 of property damage coverage.
- If your vehicle has a loan, most banks will make it a condition of the loan that you have physical damage coverage to guarantee payment of the loan. If you do not keep the policy in force, the bank or lender will purchase a policy for your Chevy at a significantly higher premium and force you to pay the higher price.
- Insurance safeguards both your vehicle and your personal assets. Insurance will pay for many types of medical costs for both you and anyone you injure as the result of an accident. Liability insurance also pays for attorney fees and expenses if someone files suit against you as the result of an accident. If you have damage to your Chevy as the result of the weather or an accident, comprehensive and/or collision insurance will cover the damage repairs after a deductible is paid.
The benefits of insuring your car are definitely more than the cost, especially for larger claims. An average driver in America is overpaying more than $865 each year so compare quotes from several companies at every renewal to ensure rates are competitive.
Find cheap rates by being thorough
Discount Chevy Corvette insurance in Plano is available on the web and from local insurance agents, and you need to price shop both in order to have the best chance of saving money. Some insurance providers may not provide price quotes online and these smaller providers only sell coverage through independent insurance agencies.
We've covered a lot of information how to find lower-cost Chevy Corvette insurance in Plano. The key thing to remember is the more you quote Plano car insurance, the more likely it is that you will get a better rate. Consumers may even find the best premium rates are with a small mutual company. They often have lower prices on specific markets as compared to the big name companies such as State Farm, GEICO and Nationwide.
When getting Plano car insurance quotes online, don't be tempted to skimp on critical coverages to save a buck or two. There have been many cases where someone sacrificed full coverage only to regret at claim time that the few dollars in savings costed them thousands. Your goal is to buy enough coverage at the best price.
Steps to finding better rates for Chevy Corvette insurance in Plano
The recommended way to find more affordable car insurance rates is to regularly compare price quotes from companies who provide auto insurance in Plano. You can compare prices by following these guidelines.
- Try to learn a little about how auto insurance works and the things you can control to keep rates in check. Many policy risk factors that cause rate increases such as speeding and a not-so-good credit rating can be remedied by making minor changes in your lifestyle.
- Request price quotes from independent agents, exclusive agents, and direct companies. Direct companies and exclusive agencies can only give rate quotes from one company like GEICO and Allstate, while independent agencies can provide rate quotes from multiple insurance companies.
- Compare the quotes to your current policy to see if cheaper Corvette coverage is available in Plano. If you find a lower rate quote and decide to switch, make sure there is no lapse between the expiration of your current policy and the new one.
- Notify your current company of your intent to cancel your current policy. Submit payment and a completed application to your new agent or company. Once the application is submitted, put the new certificate of insurance with your vehicle's registration.
The key thing to know about shopping around is to use the same amount of coverage on every quote request and and to get prices from as many car insurance companies as possible. Doing this enables an apples-to-apples comparison and a complete rate analysis.
Additional information is located at these links:
- Car Insurance FAQ (Trusted Choice)
- Who Has Affordable Car Insurance for a Toyota Highlander in Plano? (FAQ)
- Who Has Cheap Auto Insurance for Used Cars in Plano? (FAQ)
- Who Has Cheap Auto Insurance Quotes for Drivers Under 21 in Plano? (FAQ)
- What Insurance is Cheapest for a Company Car in Plano? (FAQ)
- Who Has Affordable Auto Insurance Quotes for Young Drivers in Plano? (FAQ)
- What Auto Insurance is Cheapest for 4x4 Vehicles in Plano? (FAQ)
- Determining Your Vehicle's Value and Repair Cost (Insurance Information Institute)
- Shopping for a Safe Car (Insurance Information Institute)