It’s easy to think that any car with four wheels and an engine should be eligible for low cost auto insurance, but in reality, every car is different, and can have different insurance needs. Even if a car’s engine is comparable to another car, its insurance rate will still depend on several factors, such as age, model, safety features, and location of the vehicle.
Full coverage insurance costs about $1,939 per year or about $150 each month for a single policy. A liability only policy costs less than $711 per year or about $50 less per month. Chevrolet Corvette insurance cost more than the average car about $269 more annually. If your car has more features like air bags, a GPS system, or an alarm, then you’ll pay more, but if your car doesn’t have these things then you’ll pay less.
The higher the miles the faster the insurance cost increases. This means that your monthly payments are going to increase every time you drive. So if you get a good driving record, drive safe, don’t drive in dangerous areas, keep a clean driving record, and don’t speed, then your auto insurance cost is going to be minimal.
Some people have to deal with high gas prices on the road to make their insurance cost go up. If you live in a high traffic area, then you’ll pay a lot more than someone who lives in a quiet neighborhood where they drive less often. But that’s just a way of describing general trends, so if your local gas station has an outrageous gas price and you drive it all day, you will pay more than someone who uses their car less often.
There are two main ways to reduce the cost of auto insurance: to drive safer or to drive less. You might be surprised at how many times this really does pay off. Many insurance companies give discounts for good grades, good records, and low speeding tickets. If you’ve been in an accident, you should look into getting your driver’s education certificate so that your insurance company knows that you are careful.
If you already have a new car and are looking for insurance because of a car accident, then you probably want to save a few bucks with collision damage waiver (CDW) discounts. and comprehensive coverage. If your car is totaled, and you want to recover medical expenses and repair it costs, then you may qualify for the deductible amount.
Another way to get lower insurance rates is through low mileage discounts. If you are rarely behind the wheel of your car then you can get discounts based on your overall driving history. If you have multiple vehicles then you can get discounts based on the miles driven.
You can also get discounts based on your credit rating as well as being able to take more trips on your car. If you drive less, your car insurance will be cheaper.
Most importantly, the insurance companies will try to give you a good deal when you own a Corvette. They will want you to own the car for a long time and for it to be in good condition. The higher the value of the car the better the insurance deal you will get.
As the value of the vehicle depreciates, you will have to pay more money for the insurance premium. If you pay regular monthly premiums, then the insurance companies don’t see that as much of an increase in the cost of your insurance. If you have a policy that requires a low payment for the first year, then you may actually end up saving money in the long run.
So if you do need insurance, having a good credit score and driving safely, don’t be afraid to spend some money. You could save a bundle and the insurance companies may even offer you a discount. After all, it is better than not getting any insurance at all.
But don’t forget that the insurance companies will not give you a discount if you get into an accident, if you are stopped by police, if you have any tickets, if you get into a fender bender, if you drive drunk or if you damage other people’s cars. If you have had an accident or three, your auto insurance cost will go up.