It goes without saying that insurance companies don’t want their customers to go rate shopping. Drivers who perform rate comparisons will probably move their business because there is a high probability of finding good coverage at a lower price. Surprisingly, a recent survey revealed that people who regularly compared rates saved $72 a month as compared to drivers who don’t make a habit of comparing rates.
If finding the lowest rates on insurance in Greensboro is the reason you’re reading this, knowing how to quote and compare cheaper coverage can help make the process easier and more efficient.
If saving the most money is your goal, then the best way to find low-cost prices for car insurance rates is to annually compare prices from companies who sell insurance in Greensboro. Rate comparisons can be done by completing these steps.
Step 1: Get a basic knowledge of individual coverages and the factors you can control to prevent expensive coverage. Many risk factors that cause rate increases like speeding tickets, accidents and poor credit rating can be rectified by making lifestyle changes or driving safer. Later in this article we will cover tips to prevent rate hikes and find available discounts that you may qualify for.
Step 2: Compare price quotes from direct carriers, independent agents, and exclusive agents. Direct and exclusive agents can provide rates from one company like Progressive and State Farm, while agents who are independent can quote rates for a wide range of companies. Find a Greensboro insurance agent
Step 3: Compare the price quotes to your existing coverage to see if a cheaper rate is available in Greensboro. If you find a lower rate and change companies, make sure the effective date of the new policy is the same as the expiration date of the old one.
One key aspect of rate comparisons is to compare identical coverages on every quote request and and to analyze as many carriers as you can. Doing this guarantees the most accurate price comparison and a complete price analysis.
The purpose of this post is to help you learn the most effective ways to compare rates and how you can save the most money. If you currently have auto insurance, you will be able to find better prices using the ideas you’re about to read. Comparison shoppers just need to use the quickest method to shop for auto insurance from multiple carriers.
Premium rates and analysis
The premium table displayed next covers estimates of rate quotes for Chevy Corvette models. Understanding more about how insurance policy premiums are determined can be of help when making smart choices when purchasing an auto insurance policy.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|Corvette 2-Dr Coupe||$258||$488||$168||$10||$50||$974||$81|
|Corvette GS 2-Dr Coupe||$306||$544||$168||$10||$50||$1,078||$90|
|Corvette 2-Dr Convertible||$306||$544||$216||$12||$64||$1,142||$95|
|Corvette GS 2-Dr Convertible||$330||$600||$216||$12||$64||$1,222||$102|
|Corvette Z06 2-Dr Coupe||$330||$600||$168||$10||$50||$1,158||$97|
|Corvette ZR1 2-Dr Coupe||$426||$828||$168||$10||$50||$1,482||$124|
|Get Your Own Custom Quote Go|
Table data assumes married female driver age 30, no speeding tickets, no at-fault accidents, $250 deductibles, and North Carolina minimum liability limits. Discounts applied include claim-free, multi-vehicle, multi-policy, safe-driver, and homeowner. Table data does not factor in vehicle garaging location which can influence price quotes considerably.
The chart below illustrates how choosing a deductible and can increase or decrease Chevy Corvette insurance prices for different insured age categories. Data assumes a married male driver, comprehensive and collision coverage, and no discounts are applied to the premium.
Get Chevy Corvette Insurance Cheaper
Consumers need to have an understanding of some of the things that help determine the price you pay for car insurance. If you have some idea of what determines premiums, this empowers consumers to make smart changes that will entitle you to lower car insurance prices. Lots of factors are part of the equation when you quote your car insurance policy. Some are obvious like an MVR report, although some other factors are less obvious like where you live or your financial responsibility.
The factors shown below are just a few of the factors companies use to determine your premiums.
- Vocation stress can affect prices – Did you know your career choice can influence rates? Occupations like doctors, airline pilots, and dentists tend to pay higher rates than average because of intense work-related stress and lots of time spent at work. Conversely, professions such as farmers, engineers and the unemployed receive lower rates.
The type of car, truck or SUV makes a difference – The performance of the vehicle you are insuring makes a huge difference in your auto insurance rates. The best insurance prices will generally be found on low performance passenger vehicles, but the final cost of insurance is determined by many other factors.
The chart below assumes a single male driver age 40, full coverage with $250 deductibles, and no discounts or violations. It shows Chevrolet Corvette insurance rates compared to other models of vehicles that have different performance rating factors.
- Policy claims cost money – Companies in North Carolina give the best rates to drivers who only file infrequent claims. If you’re an insured who likes to file claims you can expect either a policy non-renewal or much higher rates. Your car insurance is intended for the bigger claims that can’t be paid out-of-pocket.
- Big city or small town – Living in areas with lower population has definite advantages when it comes to car insurance. Lower population means a lower chance of having an accident and also fewer theft and vandalism claims. People who live in big cities have to deal with congested traffic and longer commute times. More time on the road means more chances of being involved in an auto accident.
- How much liability insurance do you need? – The liability coverage on your policy will protect you if ever you are found liable for causing personal injury or damage in an accident. Your liability coverage provides legal defense which can cost a lot. Liability insurance is quite affordable compared to insuring for physical damage coverage, so drivers should make sure they buy enough to cover all assets.
Responsible drivers pay less – A bad driving record impacts your car insurance rates tremendously. Drivers who don’t get tickets have lower premiums as compared to careless drivers. Even a single citation can boost insurance rates forty percent or more. Drivers with careless citations such as DWI, reckless driving or hit and run convictions may find they need to file a proof of financial responsibility form (SR-22) with their state’s licensing department in order to keep their license.
The example below illustrates how violations and accidents impact Chevy Corvette insurance premiums for different age groups of insureds. The premium estimates are based on a married female driver, full coverage, $1,000 deductibles, and no other discounts are factored in.
- Companies want multiple policies – Some insurers afford better rates to buyers that purchase more than one policy. It’s known as a multi-policy discount. Even if you qualify for this discount already, you still need to compare other company rates to confirm you are receiving the best rates possible.There is a chance you can save more without the discount even if you have your coverage with different companies
Chevy Corvette claim statistics – Car insurance companies include the past claim trends for vehicles when they file their rates in each state. Models that the data determines to have a trend towards higher claim severity or frequency will have a higher cost to insure. The data below shows the actual insurance loss data for Chevy Corvette vehicles.
For each policy coverage, the claim amount for all vehicles combined as an average is set at 100. Numbers under 100 are indicative of better than average losses, while percentages above 100 point to more claims or an increased chance of larger losses than average.
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 126BETTERAVERAGEWORSE
Empty fields indicate not enough data collected
Statistics Source: Insurance Institute for Highway Safety for 2013-2015 Model Years
Cheaper insurance is a realistic goal
Low-cost Chevy Corvette insurance in Greensboro is possible from both online companies and also from your neighborhood Greensboro agents, so you need to quote Greensboro car insurance with both so you have a total pricing picture. Some insurance companies may not provide online quoting and usually these small, regional companies prefer to sell through independent agents.
When trying to cut insurance costs, do not buy poor coverage just to save money. There are a lot of situations where an insured cut comprehensive coverage or liability limits only to regret at claim time that it was a big mistake. The goal is to buy enough coverage at the lowest possible cost, but don’t skip important coverages to save money.
We just covered quite a bit of information on how to find affordable Chevy Corvette insurance in Greensboro. The key concept to understand is the more you quote Greensboro car insurance, the better your comparison will be. You may even find the biggest savings come from some of the smallest insurance companies.
Additional information can be read on the following sites:
- Steps to Take After an Auto Accident (Insurance Information Institute)
- Who Has the Cheapest Greensboro Car Insurance for Safe Drivers? (FAQ)
- Who Has the Cheapest Greensboro Car Insurance Quotes for Postal Workers? (FAQ)
- Who Has Affordable Auto Insurance for a Toyota Tacoma in Greensboro? (FAQ)
- Who Has Affordable Car Insurance for Immigrants in Greensboro? (FAQ)
- Liability Insurance Coverage (Nationwide)
- Vehicle Insurance in the U.S. (Wikipedia)