How long have you put off shopping around for the cheapest Chevy Corvette insurance in Austin? Having to pay for expensive car insurance in Austin can dry up your savings account and possibly require you to analyze your spending habits. Price shopping at each renewal can be a smart way to lower your monthly bill.
It’s hard to fathom, but almost 70% of insureds have stayed with the same insurance company for at least the last four years, and just under half have never compared rates from other carriers. Austin consumers could save approximately $1,766 a year by just shopping around, but most just don’t grasp how much savings they would realize if they switch to a new company. Because there are so many different company options, it can be hard to locate a more affordable insurer.
These discounts can lower your car insurance quotes
Companies offering auto insurance do not advertise all possible discounts in a way that’s easy to find, so below is a list a few of the more well known and the more hidden ways to save on car insurance.
- Smart Student Discounts – Excelling in school could provide a savings of up to 20% or more. This discount can apply up until you turn 25.
- Paperwork-free – Many larger companies will give a small break for completing your application digitally online.
- Distant Student – Older children who are enrolled in a college that is more than 100 miles from Austin and do not have access to a covered vehicle may be able to be covered for less.
- Savings for New Vehicles – Putting coverage on a new Corvette can be considerably cheaper because new model year vehicles keep occupants safer.
- Telematics Discount – Insureds that choose to allow their insurance company to study when and where they use their vehicle by using a telematics device in their vehicle such as Drivewise from Allstate or Snapshot from Progressive might get better premium rates if they have good driving habits.
- Safe Driver Discounts – Safe drivers can get discounts for up to 45% lower rates than less cautious drivers.
- Payment Discounts – If paying your policy premium upfront as opposed to paying monthly you may have a lower total premium amount.
It’s important to understand that some of the credits will not apply to the entire policy premium. Most cut the cost of specific coverages such as comp or med pay. Just because you may think you could get a free car insurance policy, it just doesn’t work that way. Any amount of discount will reduce the amount you pay for coverage.
To see a list of providers offering car insurance discounts in Texas, click this link.
Low cost Chevy Corvette insurance prices in Austin, TX
Reducing your Chevy Corvette insurance rates can be surprisingly simple. Drivers just need to take a couple of minutes comparing rates online from several insurance companies.
Comparing free rate quotes online is easy and it, takes the place of having to spend your day driving to local Austin insurance agencies. Shopping for auto insurance online makes this process obsolete unless your situation requires the professional guidance of a local Austin agent. Although, it is possible obtain prices from the web but have your policy serviced through an agent.
The providers in the list below provide free rate quotes in Austin, TX. If the list has multiple companies, it’s highly recommended you visit two to three different companies to get a more complete price comparison.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| Corvette 2-Dr Coupe | $350 | $784 | $284 | $16 | $86 | $1,520 | $127 |
| Corvette GS 2-Dr Coupe | $484 | $850 | $252 | $14 | $76 | $1,676 | $140 |
| Corvette 2-Dr Convertible | $414 | $842 | $304 | $18 | $92 | $1,670 | $139 |
| Corvette GS 2-Dr Convertible | $330 | $644 | $310 | $18 | $94 | $1,396 | $116 |
| Corvette Z06 2-Dr Coupe | $364 | $780 | $284 | $16 | $86 | $1,530 | $128 |
| Corvette ZR1 2-Dr Coupe | $404 | $796 | $256 | $16 | $76 | $1,548 | $129 |
| Get Your Own Custom Quote Go | |||||||
Data assumes married female driver age 30, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Texas minimum liability limits. Discounts applied include claim-free, safe-driver, multi-policy, multi-vehicle, and homeowner. Rate quotes do not factor in vehicle garaging location which can decrease or increase premiums greatly.
Auto insurance prices based on gender
The diagram below shows the difference between Chevrolet Corvette auto insurance rates for male and female drivers. The data assumes no accidents or driving violations, comp and collision included, $100 deductibles, drivers are single, and no additional discounts are factored in.
Four Things That Impact Your Insurance Prices
Multiple criteria are part of the calculation when you get a price on insurance. A few of the factors are predictable like your driving record, but others are more obscure like your vehicle usage or how financially stable you are.
The list below includes a partial list of the pieces used by companies to determine your rate level.
- City traffic equals higher costs – Choosing to live in less populated areas is a good thing when talking about insurance. Fewer drivers translates into fewer accidents and also fewer theft and vandalism claims. Urban drivers have more auto accidents and more time behind the wheel. More time on the road statistically corresponds to a higher accident and claim rate.
- Your occupation and insurance rates – Occupations such as military personnel, executives and dentists usually pay higher rates than average due to job stress and extremely grueling work hours. Conversely, jobs like scientists, students and the unemployed have the lowest average rates.
- Credit rating impact insurance premiums – Your credit score can be an important factor in calculating your insurance rates. People with high credit ratings tend to be better risks to insure than drivers with poor credit scores. If your credit rating can be improved, you could be paying less to insure your Chevrolet Corvette if you improve your credit rating.
- Maintain insurance coverage – Driving your car without having proper coverage can get you a ticket and you will pay a penalty because you let your insurance expire. In addition to paying higher rates, not being able to provide proof of insurance may result in fines and jail time.
- Insurance loss statistics a Chevy Corvette – Companies analyze claim trends for every vehicle to help calculate premium prices. Models that historically have a higher amount or frequency of claims will cost more for specific coverages.
The table below shows the historical loss data for Chevy Corvette vehicles. For each type of coverage, the claim probability for all vehicles averaged together is set at 100. Values that are below 100 mean the vehicle has better than average losses, while percentages above 100 point to more claims or an increased probability of a larger loss.
Chevrolet Corvette Insurance Claim Statistics
Make and 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 176 126 Empty fields indicate not enough data collected
Statistics Source: Insurance Institute for Highway Safety for 2013-2015 Model Years
Which is the best insurance?
When choosing adequate coverage, there isn’t really a perfect coverage plan. Your situation is unique.
For example, these questions might point out whether you might need an agent’s assistance.
- Am I covered if I hit my neighbor’s mailbox?
- Is my custom paint covered by insurance?
- I don’t drive much so do I pay less?
- Why am I required to buy liability insurance?
- Do I have coverage when pulling a U-Haul trailer?
- When should I drop full coverage on my Chevy Corvette?
- Do I need PIP coverage since I have good health insurance?
If you can’t answer these questions but you know they apply to you, then you may want to think about talking to an agent. To find lower rates from a local agent, fill out this quick form. It’s fast, doesn’t cost anything and may give you better protection.
Insurance agents are trained to help
Many people just prefer to sit down with an agent and that is OK! Good insurance agents can help determine the best coverages and help file insurance claims. An additional benefit of getting free rate quotes online is you may find cheap rate quotes and also buy local.
To find an agent, once you fill out this short form, the coverage information is instantly submitted to companies in Austin who want to provide quotes for your car insurance coverage. There is no need to contact any agents because prices are sent to you directly. If you wish to quote rates from one company in particular, you can always go to their quote page and submit a quote form there.
Finding the right insurer should include more criteria than just a cheap quote. These are valid questions to ask:
- Will they give you a referral list?
- Is every driver in your family covered?
- Does the agency have a good rating with the Better Business Bureau?
- Are you getting all the discounts the company offers?
- Will the agent or a CSR service your policy?
- How would your car be valued if totalled?
If you want to buy car insurance from a reliable insurance agency, it helps to know the two types of agencies and how they operate. Car insurance agencies are categorized either independent agents or exclusive agents depending on their employer. Either type can sell car insurance policies, but it’s good to learn why they differ since it could factor into your agent selection.
Exclusive Agencies
Exclusive insurance agents can only write with one company like Allstate, AAA, Farmers Insurance, and State Farm. Exclusive agents are unable to compare other company’s rates so you need to shop around if the rates are high. Exclusive agents are usually quite knowledgeable in insurance sales which helps them sell on service rather than price.
Below is a short list of exclusive agencies in Austin who may provide you with comparison quotes.
Richard Munoz – State Farm Insurance Agent
5446 W US Hwy 290 Service Rd #104 – Austin, TX 78735 – (512) 892-3527 – View Map
Allstate Insurance: Cheri Roman
8103 Brodie Ln Ste 7 – Austin, TX 78745 – (512) 282-9999 – View Map
Robert Ndegwa – State Farm Insurance Agent
1200 W Howard Ln f – Austin, TX 78753 – (512) 837-8818 – View Map
Independent Car Insurance Agencies
Independent agencies do not write with just one company and that is an advantage because they can write policies through lots of different companies and find the cheapest car insurance rates. If they quote lower rates, they simply switch companies in-house and that require little work on your part. If you need cheaper car insurance rates, you absolutely need to contact at a minimum one independent agency in order to have the best price comparison.
Below is a list of independent agencies in Austin willing to provide price quote information.
Dean Davis Insurance Agency
7950 Anderson Square Suite 101 – Austin, TX 78757 – (512) 454-4511 – View Map
AUSTIN AREA INSURANCE AGENCY
8711 Burnet Rd – Austin, TX 78757 – (512) 253-8726 – View Map
Central Insurance Agency, Inc.
6000 N Lamar Blvd – Austin, TX 78752 – (512) 451-6551 – View Map
Auto insurance is an important decision
Even though Austin Corvette insurance rates can get expensive, paying for auto insurance is not optional due to several reasons.
- The majority of states have minimum mandated liability insurance limits which means it is punishable by state law to not carry a specific minimum amount of liability coverage in order to drive the car. 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 Chevy Corvette has a loan, it’s most likely the lender will require you to have insurance 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 much higher rate and require you to reimburse them the higher premium.
- Insurance protects both your vehicle and your personal assets. Insurance will pay for medical transport and hospital expenses for yourself as well as anyone injured by you. Liability coverage also covers all legal expenses up to the policy limit if someone files suit against you as the result of an accident. If your car is damaged in a storm or accident, comprehensive and collision coverage will pay to restore your vehicle to like-new condition.
The benefits of carrying enough insurance outweigh the cost, specifically if you ever have a liability claim. According to a recent study, the average American driver overpays as much as $750 every year so compare rate quotes each time the policy renews to ensure rates are inline.
The lowest rates come from being thorough
When shopping online for auto insurance, make sure you don’t skimp on coverage in order to save money. There are too many instances where an insured cut comprehensive coverage or liability limits only to regret at claim time that saving that couple of dollars actually costed them tens of thousands. Your focus should be to buy enough coverage at a price you can afford, but do not sacrifice coverage to save money.
Consumers who switch companies do it for a variety of reasons including delays in paying claims, extreme rates for teen drivers, policy non-renewal and an unsatisfactory settlement offer. It doesn’t matter why you want to switch switching companies can be less work than you think.
You just learned a lot of ways to lower your Chevy Corvette insurance prices in Austin. It’s most important to understand that the more rate comparisons you have, the higher the chance of saving money. You may even find the biggest savings come from a lesser-known regional company.
Additional articles
- What is Gap Insurance? (Insurance Information Institute)
- Who Has Cheap Car Insurance for a Jeep Wrangler in Austin? (FAQ)
- Who Has Affordable Austin Car Insurance Quotes for High Risk Drivers? (FAQ)
- Where can I buy Insurance? (Insurance Information Institute)
- What Does No-Fault Insurance Cover? (Allstate)
- Understanding Limits and Deductibles (Allstate)
- Safe Vehicles for Teens (iihs.org)