Save Money on Chevy Corvette Insurance in Virginia Beach

Everyone knows that car insurance companies don’t want policyholders to shop around. Insureds who compare rates once a year will probably switch to a new company because the odds are good of finding a cheaper policy. A study showed that consumers who compared prices once a year saved as much as $860 a year compared to drivers who don’t regularly compare prices.

If saving the most money on Chevy Corvette insurance in Virginia Beach is your ultimate objective, learning the best ways to shop for auto insurance can make it easier to find better rates.

Really, the only way to get the cheapest Chevy Corvette insurance is to begin comparing prices regularly from companies that insure vehicles in Virginia Beach.

• First, try to learn a little about how insurance works and the changes you can make to prevent high rates. Many rating criteria that drive up the price like distracted driving and a negative credit rating can be amended by being financially responsible and driving safely.
• Second, compare rates from exclusive agents, independent agents, and direct providers. Direct and exclusive agents can provide rates from one company like Progressive or Allstate, while independent agencies can provide price quotes from multiple sources.
• Third, compare the new rates to your existing rates to determine if you can save on Corvette insurance. If you find a lower rate quote and buy the policy, make sure coverage is continuous and does not lapse.
• Fourth, tell your current agent or company to cancel your current policy and submit payment and a completed application to the new insurer. Be sure to safely store the certificate of insurance in an accessible location in your vehicle.

The critical component of shopping around is to try to compare similar limits and deductibles on every quote and and to get rates from as many companies as you can. Doing this enables a level playing field and the most accurate and complete price analysis.

If you have coverage now, you will surely be able to buy cheaper car insurance using these methods. Buying the cheapest car insurance in Virginia Beach seems hard but is not really that difficult. But Virginia consumers should learn the way companies price insurance differently.

Auto insurance quotes and discounts

Not many people think insurance is cheap, but you can get discounts to help bring down the price. Many discounts should be triggered at the time you complete a quote, but some may not be applied and must be inquired about before you will receive the discount.

• Passive Restraints – Vehicles with factory air bags can get savings as much as 30%.
• Use Seat Belts – Drivers who require all vehicle occupants to buckle up before driving can save up to 15% on the medical payments or PIP coverage costs.
• Federal Employees – Federal government employees can save as much as 8% with a few auto insurance companies.
• Driver Training Discounts – Participating in a defensive driving class could earn you a small percentage discount and easily pay for the cost of the class.
• Discounts for Safe Drivers – Accident-free drivers can get discounts for up to 45% lower rates than less cautious drivers.

Keep in mind that many deductions do not apply to all coverage premiums. Most cut individual premiums such as liability and collision coverage. Despite the fact that it seems like it’s possible to get free car insurance, you won’t be that lucky.

The illustration below illustrates the comparison of Chevy Corvette car insurance costs with and without discounts applied. The price estimates are based on a female driver, no accidents, no driving violations, Virginia state minimum liability limits, full coverage, and $1,000 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with claim-free, homeowner, safe-driver, multi-policy, marriage, and multi-car discounts applied.

Companies and some of the premium reductions they offer include:

• Progressive offers premium reductions for multi-policy, good student, online quote discount, continuous coverage, and multi-vehicle.
• The Hartford offers discounts including bundle, vehicle fuel type, defensive driver, air bag, and anti-theft.
• Mercury Insurance may offer discounts for accident-free, professional/association, multi-car, good student, and annual mileage.
• GEICO may have discounts that include five-year accident-free, daytime running lights, driver training, air bags, defensive driver, and federal employee.
• AAA has discounts for AAA membership discount, pay-in-full, anti-theft, education and occupation, good student, good driver, and multi-policy.
• State Farm may include discounts for Drive Safe & Save, anti-theft, accident-free, driver’s education, and student away at school.

When getting free Virginia Beach auto insurance quotes, it’s a good idea to every company to give you their best rates. Some discounts listed above might not be offered on policies in every state. To locate insurance companies who offer free Chevy Corvette insurance quotes in Virginia, click here to view.

When looking for cheaper Virginia Beach auto insurance quotes, there are a couple ways of comparing rates from many different Virginia insurance companies. The simplest method to do a complete rate comparison consists of shopping online.

Getting free quotes online is quite simple, and it takes the place of having to actually drive to and from local Virginia Beach insurance agencies. Quoting Chevy Corvette insurance online has reduced the need for local agents unless you require the trained advice of an agent trained in personal lines coverage. It is possible with some companies compare online quotes but have a local agent actually write the policy. When quoting car insurance, remember that comparing more prices increases your odds of finding better pricing. Not every company allows you to get online Virginia Beach Corvette insurance quotes, so it’s recommended that you also compare quotes from them as well.

The following companies provide quotes in Virginia Beach, VA. If you want to find the best cheap auto insurance in VA, we recommend you click on several of them in order to get a fair rate comparison.

Chevy Corvette insurance analysis

The coverage table shown below showcases detailed analysis of insurance prices for Chevy Corvette models. Having a better idea how car insurance premiums are formulated can be of help when making smart buying decisions.

Prices based on married male driver age 30, no speeding tickets, no at-fault accidents, $500 deductibles, and Virginia minimum liability limits. Discounts applied include multi-vehicle, claim-free, safe-driver, homeowner, and multi-policy. Rates do not factor in specific location information which can alter rates noticeably.

Analysis of deductible levels

One of the hardest decisions when shopping for insurance is how high or low should comp and collision deductibles be. The figures shown below help summarize the difference in cost of buying low and high physical damage deductibles. The first rate quote example uses a $100 physical damage deductible and the second rate table uses a $1,000 deductible.

Above prices assume married male driver age 30, no speeding tickets, no at-fault accidents, and Virginia minimum liability limits. Discounts applied include claim-free, multi-vehicle, homeowner, safe-driver, and multi-policy. Prices do not factor in the specific area where the vehicle is garaged which can revise auto insurance rates considerably.

We can derive from the above data that using a $100 deductible costs roughly $46 more each month or $552 every year than buying the higher $1,000 deductible. Since you would pay $900 more to file a claim with a $1,000 deductible as compared to a $100 deductible, if you normally go at a minimum 20 months between claims, you would probably come out ahead by selecting a higher deductible. Here is how we made this calculation.

The illustration below shows how choosing a deductible and can affect Chevy Corvette insurance premiums for different insured age categories. The data assumes a single female driver, full physical damage coverage, and no discounts are factored in.

Gender differences in insurance premiums

The diagram below visualizes the comparison of Chevy Corvette insurance premiums for male and female drivers. The premium estimates are based on no claims, a clean driving record, comp and collision included, $100 deductibles, single marital status, and no discounts are applied to the premium.

Full coverage versus liability-only in Virginia Beach

The information below illustrates the difference between Chevy Corvette auto insurance costs with and without physical damage coverage, medical payments, and uninsured/under-insured motorist coverage. The premium estimates are based on a clean driving record, no at-fault accidents, $100 deductibles, drivers are single, and no discounts are applied to the premium.

When to stop buying physical damage coverage

There is no definitive rule of when to stop paying for full coverage on your policy, but there is a general convention. If the yearly cost of comp and collision coverage is more than 10% of the vehicle’s replacement cost less your deductible, then it could be time to drop full coverage.

For example, let’s say your Chevy Corvette replacement value is $6,000 and you have $1,000 physical damage deductibles. If your vehicle is severely damaged, the most your company would pay you is $5,000 after paying your policy deductible. If it’s costing in excess of $500 a year for full coverage, then it’s probably a good time to buy liability coverage only.

There are a few situations where eliminating full coverage is not advised. If you still owe a portion of the original loan, you have to keep full coverage in order to prevent the bank from purchasing higher-priced coverage. Also, if you can’t afford to buy a different vehicle if your current one is in an accident, you should keep full coverage in place.

Insurance agents near you

Certain consumers would prefer to talk to an insurance agent and doing that can be a smart decision An additional benefit of comparing auto insurance online is that drivers can save money and get lower rates and still have a local agent. And buying from small agencies is especially important in Virginia Beach.

To find an agent, once you fill out this simple form, your insurance coverage information gets sent to companies in Virginia Beach that give free quotes for your business. You never need to drive around because prices are sent directly to your email. It’s the lowest rates and a licensed agent to work with. If you need to quote rates for a specific company, you would need to navigate to their website and complete a quote there.

Deciding on an insurance company should include more criteria than just a cheap quote. Below are some questions you should ask.

• Do they offer claims assistance after hours?
• Do they review policy coverages at every renewal?
• Which family members are covered?
• Do they reduce claim amounts on high mileage vehicles?
• Does the agency have a good rating with the Better Business Bureau?
• What insurance company do they write the most business with?
• Will the agent or a CSR service your policy?

Upon receiving answers to your satisfaction to any questions you have as well as cheap Corvette insurance quotes, it’s possible that you found an provider that meets your needs to insure your vehicles. But keep in mind you are entitled to cancel your policy any time you want so don’t think that you are permanently stuck with any particular company indefinitely.

Choosing the best vehicle insurance in Virginia is an important decision

Despite the high cost of buying insurance for a Chevy Corvette in Virginia Beach, buying insurance serves an important purpose.

• Just about all states have mandatory insurance requirements which means you are required to buy specific limits of liability insurance coverage in order to license the vehicle. In Virginia these limits are 25/50/20 which means you must have $25,000 of bodily injury coverage per person, $50,000 of bodily injury coverage per accident, and $20,000 of property damage coverage.
• If your Corvette has a lienholder, most lenders will make it mandatory that you carry insurance to ensure the loan is repaid in case of a total loss. If you default on your policy, the bank or lender will purchase a policy for your Chevy at a much higher premium rate and force you to pay for the expensive policy.
• Insurance preserves your vehicle and your assets. It will also cover all forms of medical expenses for you, your passengers, and anyone else injured in an accident. One of the most valuable coverages, liability insurance, will also pay attorney fees if anyone sues you for causing an accident. If your car is damaged in a storm or accident, your insurance policy will pay to repair the damage minus the deductible amount.

The benefits of carrying adequate insurance more than offset the price you pay, especially with large liability claims. In a recent study of 1,000 drivers, the average customer is currently overpaying as much as $825 a year so compare rates each time the policy renews to save money.

Auto insurance coverage information

Having a good grasp of your insurance policy helps when choosing appropriate coverage and the correct deductibles and limits. Policy terminology can be confusing and reading a policy is terribly boring. Below you’ll find the normal coverages found on most insurance policies.

Protection from uninsured/underinsured drivers

This gives you protection when other motorists do not carry enough liability coverage. This coverage pays for hospital bills for your injuries and damage to your Chevy Corvette.

Because many people carry very low liability coverage limits (Virginia limits are 25/50/20), it doesn’t take a major accident to exceed their coverage limits. That’s why carrying high Uninsured/Underinsured Motorist coverage should not be overlooked. Normally these limits are identical to your policy’s liability coverage.

Medical expense insurance

Medical payments and Personal Injury Protection insurance provide coverage for immediate expenses such as pain medications, rehabilitation expenses, nursing services, prosthetic devices and chiropractic care. They are used to cover expenses not covered by your health insurance policy or if you lack health insurance entirely. It covers all vehicle occupants in addition to being hit by a car walking across the street. PIP is not universally available but it provides additional coverages not offered by medical payments coverage

Collision coverage protection

Collision coverage will pay to fix damage to your Corvette from colliding with another car or object. You have to pay a deductible and then insurance will cover the remainder.

Collision can pay for things such as sustaining damage from a pot hole, colliding with another moving vehicle, driving through your garage door and damaging your car on a curb. Paying for collision coverage can be pricey, so you might think about dropping it from vehicles that are older. Drivers also have the option to bump up the deductible on your Corvette in order to get cheaper collision rates.

Comprehensive (Other than Collision)

This coverage pays for damage that is not covered by collision coverage. You first have to pay a deductible then the remaining damage will be covered by your comprehensive coverage.

Comprehensive can pay for things like hitting a deer, damage from a tornado or hurricane, damage from flooding and vandalism. The most you can receive from a comprehensive claim is the market value of your vehicle, so if the vehicle’s value is low it’s probably time to drop comprehensive insurance.

Liability

This will cover damage or injury you incur to people or other property that is your fault. Liability coverage has three limits: per person bodily injury, per accident bodily injury, and a property damage limit. You might see policy limits of 25/50/20 that means you have a $25,000 limit per person for injuries, a per accident bodily injury limit of $50,000, and a limit of $20,000 paid for damaged property. Occasionally you may see a combined single limit or CSL that pays claims from the same limit with no separate limits for injury or property damage.

Liability insurance covers claims such as emergency aid, structural damage, medical services, funeral expenses and repair bills for other people’s vehicles. The amount of liability coverage you purchase is a personal decision, but you should buy as high a limit as you can afford. Virginia state minimum liability requirements are 25/50/20 but drivers should carry higher limits.

The chart below shows why buying minimum limits may not be adequate.

Best car insurance in Virginia

Choosing the best insurer can be a challenge considering how many choices drivers have in Virginia. The company ratings shown below can help you select which car insurance companies to look at comparing price quotes from.

Top 10 Virginia Beach Car Insurance Companies Overall

1. Travelers
2. USAA
3. Mercury Insurance
4. AAA Insurance
5. Nationwide
6. Allstate
7. State Farm
8. The Hartford
9. Safeco Insurance
10. Progressive

Find cheaper rates by being thorough

Affordable Chevy Corvette insurance in Virginia Beach can be purchased on the web and from local insurance agents, so you should be comparing quotes from both in order to have the best chance of saving money. There are still a few companies who do not offer price quotes online and these regional carriers only sell through independent insurance agents.

When you buy Virginia Beach auto insurance online, do not skimp on critical coverages to save a buck or two. In many instances, someone dropped comprehensive coverage or liability limits to discover at claim time that the small savings ended up costing them much more. Your goal should be to purchase plenty of coverage at a price you can afford but still have enough coverage for asset protection.

In this article, we covered a lot of tips how to save on Chevy Corvette insurance in Virginia Beach. The key thing to remember is the more companies you get rates for, the higher the chance of saving money. You may even be surprised to find that the best prices are with a small mutual company. Smaller companies may often insure only within specific states and give better rates as compared to the big name companies such as Progressive and GEICO.

For more information, take a look at the following helpful articles:

• Anti-Lock Brake FAQ (iihs.org)
• Who Has Cheap Car Insurance Quotes for State Employees in Virginia Beach? (FAQ)
• What Car Insurance is Cheapest for Handicapped Drivers in Virginia Beach? (FAQ)
• Who Has Affordable Auto Insurance Rates for 4×4 Vehicles in Virginia Beach? (FAQ)
• Choosing a Car for Your Teen (State Farm)
• New vehicle ratings focus on headlights (Insurance Institute for Highway Safety)