How many times have you said it’s time to compare cheaper Chevy Corvette insurance in Phoenix? When looking for lower-cost insurance, do you get frustrated by the crazy number of insurance choices in Phoenix? You’re not alone. Arizona consumers have such a vast assortment of choices available that it can easily become a chore to find the lowest price for Chevy Corvette insurance in Phoenix. Phoenix is a good city to live in, but expensive premiums for insurance can make it nearly impossible to buy full coverage.
Unthinkable but true, the vast majority of consumers have bought insurance from the same company for over three years, and roughly 40% of drivers have never compared rates to find cheap insurance. Many consumers in Arizona could save up to $730 every year just by comparing rates, but most undervalue the actual amount they would save if they switch to a new company.
You should take the time to check insurance prices periodically since insurance rates go up and down regularly. Despite the fact that you may have had the lowest rate on Chevy Corvette insurance in Phoenix six months ago you will most likely find a better price today. There is too much inaccurate information about Corvette insurance online but in this article, you’re going to get some great ways to quit paying high insurance rates in Phoenix.
Slash your insurance rates with these seven discounts
Some companies don’t list the complete list of policy discounts in an easy-to-find place, so we break down a few of the more well known and also the more inconspicuous discounts that may be available. If you do not check that you are getting every discount possible, you are paying more than you should be.
- Driver Safety – Participating in a course in driver safety could cut 5% off your bill and also improve your driving technique.
- Multi-Vehicle Discounts – Having multiple cars on a single policy may reduce the rate for each vehicle.
- Professional Memberships – Being a member of specific professional or occupational memberships or organizations is a simple method to lower premiums on your policy.
- Paper-free Discount – Some of the larger companies will provide an incentive simply for signing on the internet.
- Accident-Free Discounts – Phoenix drivers who stay claim-free pay less in comparison with drivers who are more careless.
- ABS Braking Discount – Cars with anti-lock braking systems can stop better under adverse conditions so companies give up to a 10% discount.
- Savings for New Vehicles – Buying insurance coverage on a new vehicle can save you some money because new vehicles have to meet stringent safety requirements.
Discounts save money, but please remember that some credits don’t apply to your bottom line cost. Some only apply to specific coverage prices like liability, collision or medical payments. Even though it may seem like all those discounts means the company will pay you, company stockholders wouldn’t be very happy.
The best insurance companies and a summarized list of policyholder discounts are:
- Progressive may include discounts for good student, homeowner, online signing, continuous coverage, multi-policy, and multi-vehicle.
- The Hartford policyholders can earn discounts including bundle, vehicle fuel type, good student, anti-theft, defensive driver, and driver training.
- Mercury Insurance has savings for ease of repair, multi-car, accident-free, multi-policy, professional/association, and good driver.
- GEICO may have discounts that include emergency military deployment, federal employee, driver training, defensive driver, military active duty, five-year accident-free, and anti-theft.
- AAA offers premium reductions for education and occupation, multi-policy, multi-car, pay-in-full, good driver, and good student.
- State Farm offers discounts including Drive Safe & Save, passive restraint, driver’s education, accident-free, good student, anti-theft, and good driver.
If you are trying to find cheaper Phoenix auto insurance quotes, ask every company the best way to save money. A few discounts might not be offered in Phoenix. If you would like to choose from a list of insurance companies with discount insurance rates in Phoenix, click this link.
The majority of larger companies make it easy to get coverage prices on their websites. Getting Chevy Corvette insurance prices online is very simple as you just type in your required coverages as requested by the quote form. Upon sending the form, their rating system collects your credit score and driving record and returns a price.
Using the web to get quotes for Chevy Corvette insurance in Phoenix helps simplify price comparisons, and it’s very important to do this if you are searching for cheaper auto insurance pricing.
To find out how much you can save on auto insurance, compare rates from the companies below. If you have coverage now, it’s recommended you enter the coverages exactly as they are listed on your policy. This ensures you will get an apples-to-apples comparison based on identical coverages.
The following companies can provide free rate quotes in Phoenix, AZ. If multiple companies are listed, we recommend you visit two to three different companies to get the best price comparison.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| Corvette 2-Dr Coupe | $278 | $608 | $190 | $12 | $56 | $1,144 | $95 |
| Corvette GS 2-Dr Coupe | $304 | $620 | $240 | $14 | $72 | $1,250 | $104 |
| Corvette 2-Dr Convertible | $310 | $540 | $254 | $16 | $76 | $1,196 | $100 |
| Corvette GS 2-Dr Convertible | $354 | $724 | $268 | $16 | $80 | $1,442 | $120 |
| Corvette Z06 2-Dr Coupe | $394 | $864 | $208 | $12 | $62 | $1,540 | $128 |
| Corvette ZR1 2-Dr Coupe | $490 | $820 | $260 | $16 | $78 | $1,664 | $139 |
| Get Your Own Custom Quote Go | |||||||
Table data represents single male driver age 30, no speeding tickets, no at-fault accidents, $500 deductibles, and Arizona minimum liability limits. Discounts applied include multi-policy, homeowner, claim-free, multi-vehicle, and safe-driver. Price information does not factor in specific Phoenix garaging location which can decrease or increase price quotes noticeably.
Auto insurance rates by gender and age in Phoenix
The diagram below shows the comparison of Chevrolet Corvette auto insurance rates for male and female drivers. The premium estimates are based on no accidents or driving violations, comprehensive and collision coverage, $500 deductibles, single marital status, and no other discounts are factored in.
Does it make sense to buy full coverage?
The diagram below examines Chevrolet Corvette insurance prices when comparing full coverage to state minimum liability only. The data is based on no violations or accidents, $100 deductibles, married male driver, and no policy discounts are applied.
Deciding between full coverage and liability only
There is no exact formula of when to exclude comp and collision coverage, but there is a general convention. If the annual cost of comprehensive and collision coverage is more than about 10% of replacement cost minus your deductible, then you might consider buying liability only.
For example, let’s assume your Chevrolet Corvette book value is $5,000 and you have $1,000 deductibles. If your vehicle is totaled in an accident, the most your company would pay you is $4,000 after paying your policy deductible. If premiums are more than $400 annually for comprehensive and collision coverage, then you may need to consider dropping full coverage.
There are some cases where buying only liability insurance is not a good plan. If you still have a loan on your vehicle, you are required to maintain full coverage to satisfy the loan requirements. Also, if your finances do not allow you to purchase a different vehicle if your current one is totaled, you should maintain full coverage.
Should you raise deductibles?
The illustration below shows how different deductible levels and can affect Chevrolet Corvette yearly insurance costs for different age groups of insureds. The price estimates are based on a single female driver, comp and collision included, and no discounts are applied.
Insurance agencies can help
Certain consumers just prefer to buy from a local agent. A good thing about comparing insurance online is the fact that you can find cheap rate quotes but still work with a licensed agent.
To make it easy to find an agent, after completing this quick form, your coverage information is transmitted to agents in your area that can give you free Phoenix auto insurance quotes for your insurance coverage. There is no need to contact an agency since price quotes are sent immediately to your email address. You can find better rates without a big time investment. If you need to compare rates from a particular provider, don’t hesitate to go to their quote page and fill out their quote form.
Choosing the best insurer needs to be determined by more than just the price. Any agent in Phoenix should have no problem answering these questions:
- What insurance companies do they work with in Phoenix?
- Are there any extra charges for paying monthly?
- Are they giving you every discount you deserve?
- What are their preferred companies if they are an independent agency?
- Is the agent and/or agency licensed to do business in Arizona?
- Will the quote change when the policy is issued?
- Can you contact them at any time?
Choosing Chevy Corvette insurance is an important decision
Even though Phoenix Corvette insurance rates can get expensive, insurance serves several important purposes.
- The majority of states have mandatory insurance requirements which means it is punishable by state law to not carry specific minimum amounts of liability protection in order to license the vehicle. In Arizona these limits are 15/30/10 which means you must have $15,000 of bodily injury coverage per person, $30,000 of bodily injury coverage per accident, and $10,000 of property damage coverage.
- If you have a lien on your vehicle, almost all lenders will stipulate that you have physical damage coverage to guarantee their interest in the vehicle. If the policy lapses, the lender may have to buy a policy to insure your Chevy at a more expensive rate and require you to fork over a much higher amount than you were paying before.
- Insurance protects both your vehicle and your assets. Insurance will pay for medical transport and hospital expenses that are the result of an accident. Liability coverage will also pay for a defense attorney if you are sued as the result of your driving. If damage is caused by hail or an accident, collision and comprehensive coverages will pay to repair the damage minus the deductible amount.
The benefits of having insurance more than cancel out the cost, specifically if you ever have a liability claim. Today the average American driver is overpaying more than $820 a year so you should quote your policy with other companies once a year at a minimum to save money.
Auto insurance coverages and their meanings
Having a good grasp of auto insurance can be of help when determining the best coverages at the best deductibles and correct limits. Policy terminology can be confusing and even agents have difficulty translating policy wording.
Auto collision coverage
This pays for damage to your Corvette caused by collision with another car or object. You have to pay a deductible then your collision coverage will kick in.
Collision insurance covers things like colliding with another moving vehicle, hitting a parking meter and colliding with a tree. Collision is rather expensive coverage, so you might think about dropping it from older vehicles. You can also raise the deductible on your Corvette to save money on collision insurance.
Comprehensive coverage (or Other than Collision)
This pays for damage from a wide range of events other than collision. You first have to pay a deductible then the remaining damage will be covered by your comprehensive coverage.
Comprehensive insurance covers things such as theft, vandalism and damage from a tornado or hurricane. The maximum amount your auto insurance company will pay is the cash value of the vehicle, so if the vehicle is not worth much consider removing comprehensive coverage.
Insurance for medical payments
Coverage for medical payments and/or PIP pay for immediate expenses for pain medications, ambulance fees, doctor visits, surgery and X-ray expenses. They are often utilized in addition to your health insurance plan or if you are not covered by health insurance. They cover all vehicle occupants in addition to getting struck while a pedestrian. PIP is not an option in every state but it provides additional coverages not offered by medical payments coverage
Uninsured Motorist or Underinsured Motorist insurance
This coverage protects you and your vehicle’s occupants from other drivers when they either are underinsured or have no liability coverage at all. It can pay for injuries sustained by your vehicle’s occupants as well as damage to your Chevy Corvette.
Since many Arizona drivers carry very low liability coverage limits (15/30/10 in Arizona), their limits can quickly be used up. So UM/UIM coverage is very important.
Liability coverages
Liability coverage will cover damage that occurs to other people or property. It protects YOU against other people’s claims, and doesn’t cover your injuries or vehicle damage.
Coverage consists of three different limits, bodily injury per person, bodily injury per accident and property damage. You might see liability limits of 15/30/10 which stand for $15,000 in coverage for each person’s injuries, a limit of $30,000 in injury protection per accident, and a total limit of $10,000 for damage to vehicles and property.
Liability insurance covers things like attorney fees, bail bonds, funeral expenses and repair bills for other people’s vehicles. How much liability should you purchase? That is a personal decision, but you should buy as much as you can afford. Arizona state law requires minimum liability limits of 15/30/10 but you should think about purchasing higher limits.
Affordable car insurance rates are available
In this article, we presented quite a bit of information on how to find cheap Chevy Corvette insurance in Phoenix. The key thing to remember is the more companies you get prices for, the better your comparison will be. Drivers may even discover the best premium rates are with an unexpected company.
When searching for affordable Phoenix auto insurance quotes, never buy poor coverage just to save money. There are too many instances where consumers will sacrifice full coverage and discovered at claim time they didn’t have enough coverage. The goal is to buy the best coverage you can find for the lowest price.
Some insurance providers may not have online quoting and most of the time these regional carriers provide coverage only through independent agencies. Low-cost Chevy Corvette insurance in Phoenix can be found on the web as well as from independent agents in Phoenix, so you need to compare both to have the best chance of lowering rates.
More information can be read on the following sites:
- If I File a Claim will My Insurance Go Up? (Insurance Information Institute)
- What Insurance is Cheapest for Inexperienced Drivers in Phoenix? (FAQ)
- Who Has Cheap Car Insurance Rates for Drivers with Accidents in Phoenix? (FAQ)
- Who Has Cheap Car Insurance Rates for 16 Year Olds in Phoenix? (FAQ)
- Who Has the Cheapest Phoenix Auto Insurance for Low Mileage Drivers? (FAQ)
- How to Avoid Common Accidents (State Farm)
- Choosing a Car for Your Teen (State Farm)
- Speed and Speed Limit FAQ (iihs.org)
- Distracted Driving (Insurance Information Institute)