Inconceivable but true, most insurance policyholders in Nevada have purchased from the same company for more than four years, and roughly 40% of drivers have never even compared quotes to find cheaper rates. American insurance shoppers can cut their rates by up to $859 a year by just comparing quotes, but they don’t understand how simple it is to shop their coverage around.
It takes a few minutes, but the best way to find cheaper car insurance rates is to start doing an annual price comparison from insurers who can sell car insurance in Las Vegas. You can shop around by following these steps.
- Learn about individual coverages and the measures you can control to drop your rates. Many factors that are responsible for high rates such as multiple speeding tickets and a substandard credit history can be controlled by making minor changes in your lifestyle. Later in this article we will cover instructions to lower rates and find overlooked discounts.
- Get rate quotes from direct, independent, and exclusive agents. Exclusive agents and direct companies can provide rates from one company like GEICO or State Farm, while agents who are independent can provide rate quotes for a wide range of companies.
- Compare the quotes to the premium of your current policy to determine if switching companies saves money. If you find a better price, make sure there is no lapse in coverage.
- Notify your agent or company of your intent to cancel your current policy and submit the required down payment along with the signed application for your new policy. As soon as coverage is bound, put the proof of insurance certificate in an easily accessible location in your vehicle.
A good tip to remember is to try to use similar limits and deductibles on each quote and and to look at as many different insurance providers as possible. Doing this helps ensure a level playing field and a complete price analysis.
Chevy Corvette insurance analysis
The table shown next covers detailed analysis of insurance rates for Chevy Corvette models. Learning how car insurance prices are established is important for you to make smart policy decisions.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| Corvette 2-Dr Coupe | $316 | $758 | $230 | $14 | $68 | $1,386 | $116 |
| Corvette GS 2-Dr Coupe | $374 | $844 | $230 | $14 | $68 | $1,530 | $128 |
| Corvette 2-Dr Convertible | $374 | $844 | $296 | $18 | $88 | $1,620 | $135 |
| Corvette GS 2-Dr Convertible | $404 | $932 | $296 | $18 | $88 | $1,738 | $145 |
| Corvette Z06 2-Dr Coupe | $404 | $932 | $230 | $14 | $68 | $1,648 | $137 |
| Corvette ZR1 2-Dr Coupe | $522 | $1284 | $230 | $14 | $68 | $2,118 | $177 |
| Get Your Own Custom Quote Go | |||||||
Data variables include single male driver age 50, no speeding tickets, no at-fault accidents, $100 deductibles, and Nevada minimum liability limits. Discounts applied include claim-free, multi-vehicle, multi-policy, safe-driver, and homeowner. Price information does not factor in Las Vegas location which can increase or decrease auto insurance rates considerably.
The chart below illustrates how your deductible choice and can increase or decrease Chevy Corvette annual premium costs for different age groups. The premiums are based on a single female driver, comp and collision included, and no other discounts are factored in.
Seven Things That Impact Your Insurance Costs
Many different elements are part of the calculation when quoting car insurance. Most are fairly basic like a motor vehicle report, but some are not as apparent such as whether you are married or your vehicle rating.
The list below includes some of the factors utilized by car insurance companies to help set your prices.
- Cheaper rates after marriage – Your spouse helps lower the price on your car insurance policy. Having a spouse generally demonstrates drivers are more stable financially it has been statistically shown that drivers who are married are more cautious.
- Extra coverages are wasting money – There are quite a few additional extra coverages you can purchase but may not be useful. Insurance for things like rental car reimbursement, accident forgiveness, and term life insurance are probably not needed. The coverages may be enticing when discussing your needs, but your needs may have changed so think about removing them and cutting costs.
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Mature drivers pay less – Teen drivers in Nevada have a tendency to be inattentive in a vehicle so they pay higher car insurance rates. Older, more experienced drivers are more cautious drivers, are lower risk to insure, and tend to be get fewer driving tickets.
The following data uses these variables: single driver, full coverage with $250 deductibles, and no discounts or violations.
- How much liability insurance – Your car insurance policy’s liability coverage will provide protection in the event that a court rules you are at fault for personal injury or accident damage. This coverage provides for a legal defense to attempt to prove you were not liable. Carrying liability coverage is mandatory and cheap compared to insuring for physical damage coverage, so do not skimp.
- Safety first – Vehicles that have high safety ratings tend to have lower insurance rates. Safer cars protect occupants better and reduced instances of injuries translates into savings for insurance companies which can result in lower premiums.
- Cheaper rates by consolidating – Many car insurance companies provide a discount to insureds that have more than one policy, otherwise known as a multi-policy discount. The discount can add up to as much as ten percent or more Even if you already get this discount, consumers should still comparison shop to verify if the discount is saving money. It’s possible to still save even more by buying insurance from more than one company.
- Keep prices low by being claim-free – If you are the type of insured that files lots of claims you can expect either higher rates or even cancellation. Car insurance companies in Nevada provide the best rates to people who do not rely on their insurance for small claims. Your car insurance is intended to be relied upon for major claims that would cause financial hardship.
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Chevy Corvette historical loss data – Insurers analyze past claim statistics to help set a rate to offset losses. Vehicles that the statistics show to have higher claim frequency or loss amount will cost more to insure. The table below demonstrates the insurance loss data used by companies for Chevy Corvette vehicles.
For each type of coverage, the claim amount for all vehicles, regardless of make or model, is considered to be 100. Numbers under 100 suggest a better than average loss history, while values over 100 indicate higher probability of having a loss or an increased chance of larger losses than average.
Insurance Loss Ratings for Chevrolet Corvette Vehicles 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 BETTERAVERAGEWORSEEmpty fields indicate not enough data collected
Data Source: Insurance Institute for Highway Safety for 2013-2015 Model Years
Auto insurance company ratings
Choosing the top auto insurance provider can be challenging considering how many companies sell coverage in Nevada. The company rank data listed below could help you analyze which auto insurance companies to look at shopping your coverage with.
Top 10 Las Vegas Car Insurance Companies Overall
- USAA
- American Family
- State Farm
- The Hartford
- AAA Insurance
- GEICO
- The General
- Titan Insurance
- Progressive
- Mercury Insurance
Top 10 Las Vegas Car Insurance Companies Ranked by Value
- USAA
- American Family
- The Hartford
- Titan Insurance
- The General
- AAA Insurance
- State Farm
- Mercury Insurance
- Nationwide
- Safeco
Shop smart and save
The cheapest Chevy Corvette insurance in Las Vegas can be purchased from both online companies as well as from insurance agents, so you need to quote Las Vegas auto insurance with both to get a complete price analysis. A few companies don’t offer the ability to get quotes online and these regional carriers work with independent agencies.
As you restructure your insurance plan, don’t be tempted to reduce coverage to reduce premium. In too many instances, someone dropped liability limits or collision coverage only to regret that the small savings ended up costing them much more. Your goal should be to buy the best coverage you can find at the best cost.
We covered a lot of ways to find affordable Chevy Corvette insurance in Las Vegas. It’s most important to understand that the more quotes you get, the better your comparison will be. Consumers may even find the lowest car insurance rates come from an unexpected company. They may only write in your state and offer lower premium rates than their larger competitors like Allstate, GEICO and Progressive.
More tips and info about insurance is located by following these links:
- Learn About Car Insurance (GEICO)
- How Much are Car Insurance Quotes for Real Estate Agents in Las Vegas? (FAQ)
- What Auto Insurance is Cheapest for a Company Car in Las Vegas? (FAQ)
- Who Has Affordable Auto Insurance Rates for Retired Military in Las Vegas? (FAQ)
- What Car Insurance is Cheapest for a Toyota Tacoma in Las Vegas? (FAQ)
- How Much are Las Vegas Car Insurance Quotes for a Toyota Corolla? (FAQ)
- Auto Insurance for Teen Drivers (Insurance Information Institute)
- Self-driving cars won’t replace humans (Insurance Institute for Highway Safety)