Best Rate Quotes for Chevy Corvette Insurance in Los Angeles

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Insurance rates Chevy Corvette in Los AngelesWant more affordable car insurance rates in Los Angeles, CA? Los Angeles drivers have many options when trying to find low-cost Chevy Corvette insurance. They can either spend hours calling around getting price quotes or utilize the internet to make rate comparisons.

There are more efficient ways to compare car insurance rates and you need to know the proper way to get price quotes for a new or used Chevy and obtain the lowest price from both online companies and Los Angeles agents.

Smart consumers take time to do rate comparisons yearly due to the fact that insurance prices change regularly. Even if you think you had the best deal on Chevy Corvette insurance in Los Angeles a couple years back other companies may now be cheaper. Forget anything you know (or think you know) about car insurance because you're about to learn one of the quickest ways to buy cheaper Chevy Corvette insurance in Los Angeles.

Finding cheap Los Angeles auto insurance prices is not a difficult process. Just spend a little time comparing free Los Angeles car insurance quotes to discover which company has cheaper Los Angeles car insurance quotes.

The auto insurance companies shown below are ready to provide quotes in California. If multiple companies are listed, we recommend you visit as many as you can to get the best price comparison.

Coverage analysis

The premium table below covers different coverage costs for Chevy Corvette models. Learning how auto insurance prices are determined is important to be able to make smart choices when comparing insurance rates.

Chevrolet Corvette Insurance Rates in Los Angeles, CA
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Corvette 2-Dr Coupe $384 $712 $292 $18 $88 $1,494 $125
Corvette GS 2-Dr Coupe $456 $794 $292 $18 $88 $1,648 $137
Corvette 2-Dr Convertible $456 $794 $376 $22 $112 $1,760 $147
Corvette GS 2-Dr Convertible $492 $878 $376 $22 $112 $1,880 $157
Corvette Z06 2-Dr Coupe $492 $878 $292 $18 $88 $1,768 $147
Corvette ZR1 2-Dr Coupe $634 $1208 $292 $18 $88 $2,240 $187
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Prices above based on married male driver age 30, no speeding tickets, no at-fault accidents, $500 deductibles, and California minimum liability limits. Discounts applied include homeowner, multi-vehicle, safe-driver, multi-policy, and claim-free. Rate quotes do not factor in specific Los Angeles garaging location which can decrease or increase price quotes substantially.

Policy deductible comparison

One of the more difficult decisions when buying insurance is how high should the physical damage deductibles be. The rates shown below may help to illustrate the cost difference when you select higher and lower coverage deductibles. The first table uses a $250 deductible and the second price chart uses a $500 deductible.

Chevrolet Corvette insurance premium estimates with $250 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Corvette 2-Dr Coupe $474 $882 $292 $18 $88 $1,779 $148
Corvette GS 2-Dr Coupe $562 $986 $292 $18 $88 $1,971 $164
Corvette 2-Dr Convertible $562 $986 $376 $22 $112 $2,083 $174
Corvette GS 2-Dr Convertible $606 $1088 $376 $22 $112 $2,229 $186
Corvette Z06 2-Dr Coupe $606 $1088 $292 $18 $88 $2,117 $176
Corvette ZR1 2-Dr Coupe $780 $1498 $292 $18 $88 $2,701 $225
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Chevrolet Corvette insurance premium estimates with $500 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Corvette 2-Dr Coupe $384 $712 $292 $18 $88 $1,494 $125
Corvette GS 2-Dr Coupe $456 $794 $292 $18 $88 $1,648 $137
Corvette 2-Dr Convertible $456 $794 $376 $22 $112 $1,760 $147
Corvette GS 2-Dr Convertible $492 $878 $376 $22 $112 $1,880 $157
Corvette Z06 2-Dr Coupe $492 $878 $292 $18 $88 $1,768 $147
Corvette ZR1 2-Dr Coupe $634 $1208 $292 $18 $88 $2,240 $187
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Table data assumes married male driver age 30, no speeding tickets, no at-fault accidents, and California minimum liability limits. Discounts applied include multi-vehicle, multi-policy, homeowner, safe-driver, and claim-free. Price information does not factor in zip code location which can affect rates considerably.

Based on the data above, we can derive that using a $250 deductible will cost you approximately $29 more each month or $348 annually than selecting the higher $500 deductible. Because you would pay $250 more to file a claim with a $500 deductible as compared to a $250 deductible, if you average at a minimum 9 months between claims, you would save more money if you decide on a higher deductible.

How to calculate if higher deductibles make sense

Average monthly premium for $250 deductibles: $179
Average monthly premium for $500 deductibles (subtract): - $150
Monthly savings from raising deductible: $29
Difference between deductibles ($500 - $250): $250
Divide difference by monthly savings: $250 / $29
Number of months required between physical damage coverage claims in order to save money by choosing the higher deductible 9 months

One important issue to know is that a higher deductible level results in a higher out-of-pocket expense when you have to file a claim. You need to make sure you have access to more funds in the event you need to pay the higher deductible.

The example below illustrates how choosing a deductible and can change Chevy Corvette insurance costs for different age categories. The premiums are based on a single male driver, full physical damage coverage, and no discounts are factored in.

Insurance rates based on gender

The chart below shows the comparison of Chevy Corvette insurance costs for male and female drivers. The prices are based on no violations or claims, full physical damage coverage, $100 deductibles, single marital status, and no policy discounts are applied.

Full coverage rates compared to liability-only

The example below illustrates the difference between Chevy Corvette car insurance rates with and without physical damage coverage. The premiums are based on no tickets, no at-fault accidents, $500 deductibles, marital status is single, and no additional discounts are factored in.

Guidelines for eliminating full coverage

There isn't a steadfast formula that is best for determining when to drop physical damage coverage, but there is a broad guideline. If the annual cost of having full coverage is more than about 10% of the replacement cost minus the deductible, then you might want to consider buying only liability coverage.

For example, let's pretend your Chevy Corvette replacement cost is $7,000 and you have $1,000 policy deductibles. If your vehicle is severely damaged, the most your company would pay you is $6,000 after paying your policy deductible. If premiums are more than $600 a year to have full coverage, then it might be time to buy liability only.

There are some cases where removing full coverage is not recommended. If you haven't satisfied your loan, you are required to maintain full coverage to protect the lienholder's interest. Also, if your emergency fund is not enough to purchase a different vehicle if your current one is damaged, you should keep full coverage.

Cut your car insurance rates with discounts

Companies don't always publicize every policy discount very clearly, so the following list contains a few of the more common and also the lesser-known credits that may apply to you. If you do not double check each discount available, you're just leaving money on the table.Car insurance discounts

  • Telematics Data - Policyholders that allow driving data submission to monitor when and where they use their vehicle by using a telematics device such as Snapshot from Progressive or Drivewise from Allstate may get a rate reduction if their driving habits are good.
  • Paperwork-free - A handful of insurance companies will give a small break just for signing your application on the web.
  • Waiver for an Accident - Not necessarily a discount, but companies like Allstate and Progressive may permit one accident before raising your premiums so long as you haven't had any claims prior to the accident.
  • Student in College - Kids who live away from home at college and do not have a car may be able to be covered for less.
  • Home Ownership Discount - Simply owning a home may earn you a small savings because of the fact that having a home is proof of financial responsibility.
  • Driver Safety - Taking part in a course teaching driver safety skills can save you 5% or more if you qualify.
  • Discounts for Federal Employees - Active or retired federal employment can earn a discount up to 10% depending on your company.
  • New Vehicle Savings - Buying coverage on a new vehicle can save you some money because newer models are generally safer.
  • Early Renewal Discounts - Select companies give a discount for switching to them prior to the expiration date on your current Corvette insurance policy. The savings is around 10%.
  • Pay Upfront and Save - If you can afford to pay the entire bill as opposed to paying monthly you may have a lower total premium amount.

Keep in mind that most of the big mark downs will not be given to your bottom line cost. The majority will only reduce the cost of specific coverages such as comprehensive or collision. So when the math indicates having all the discounts means you get insurance for free, car insurance companies aren't that generous. Any amount of discount will cut your policy cost.

The illustration below shows the comparison of Chevy Corvette insurance costs with and without discounts applied to the premium. The prices are based on a female driver, no claims or violations, California state minimum liability limits, comp and collision included, and $250 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with homeowner, marriage, multi-car, claim-free, multi-policy, and safe-driver discounts applied.

To see a list of insurance companies that offer many of these discounts in Los Angeles, click here.

Why you need car insurance

Despite the potentially high cost of Chevy Corvette insurance, car insurance is most likely required but also gives you several important benefits.

  • The majority of states have minimum liability requirements which means the state requires specific limits of liability protection in order to license the vehicle. In California these limits are 15/30/5 which means you must have $15,000 of bodily injury coverage per person, $30,000 of bodily injury coverage per accident, and $5,000 of property damage coverage.
  • If your Chevy Corvette has a lienholder, more than likely the lender will require that you have physical damage coverage to guarantee loan repayment. If coverage lapses or is canceled, the bank or lender will purchase a policy for your Chevy at a more expensive rate and require you to fork over much more than you were paying before.
  • Insurance safeguards both your assets and your Chevy Corvette. It will also cover medical expenses for you, your passengers, and anyone else injured in an accident. Liability coverage will also pay attorney fees if you are sued as the result of your driving. If your car is damaged in a storm or accident, your car insurance policy will pay all costs to repair after the deductible has been paid.

The benefits of having car insurance are without a doubt worth the cost, especially with large liability claims. In a recent study of 1,000 drivers, the average customer is overpaying over $810 a year so you should quote rates once a year at a minimum to make sure the price is not too high.

You may want advice from an insurance agent

Certain consumers just prefer to have an agent's advice and often times that is recommended Experienced insurance agents can make sure you are properly covered and give you someone to call. An additional benefit of comparing rate quotes online is that drivers can save money and get cheap car insurance rates and still choose a local agent. And buying from local insurance agents is especially important in Los Angeles.

Insurance agents in Los AngelesAfter completing this short form, the coverage information is emailed to participating agents in Los Angeles who will give you bids for your coverage. It's much easier because you don't need to do any legwork as quotes are delivered instantly to you. If for some reason you want to get a comparison quote for a specific company, you just need to find their quoting web page and complete a quote there.

When finding a reputable insurance agent or broker, you should know the different types of agents from which to choose. Agents may be either independent or exclusive depending on the company they work for. Either one can provide car insurance policies, but it's a good idea to understand the difference between them since it may influence buying decisions.

Independent Car Insurance Agents (or Brokers)

Agents of this type can sell policies from many different companies so they can write business with an assortment of companies and find the cheapest rate. If your agent finds better pricing, your agent can switch companies which makes it simple for you.

If you are comparing car insurance prices, you definitely need to compare prices from at least one independent agent to have the most options to choose from. Many independent agencies also insure through additional companies that you may not be familiar with which can save you money.

Featured below is a list of independent agencies in Los Angeles who may be able to give you pricing information.

More Los Angeles agents

Exclusive Insurance Agencies

Exclusive insurance agents have only one company to place business with and some examples include State Farm, AAA, and Liberty Mutual. Exclusive agents are unable to provide other company's prices so they really need to provide good service. They are usually well trained on sales techniques which helps offset the inability to provide other markets. Drivers often buy insurance from these agents primarily because of the prominent brand name rather than having low rates.

The following is a list of exclusive agents in Los Angeles that are able to give rate quotes.

More Los Angeles agents

Choosing an auto insurance agent needs to be determined by more than just the bottom line cost. Below are some questions you should ask.

  • Will high miles depreciate repair valuations?
  • Which family members are covered?
  • If your car is totaled, how to they determine the replacement cost?
  • Do they have a Better Business Bureau rating in Los Angeles?
  • Can glass repairs be made at your home?
  • Who are their largest clients?

If you receive good feedback to any questions you have in addition to an acceptable price estimate, it's possible that you found a car insurance agent that is reliable enough to service your policy.