If you want to save money, the best way to get discount car insurance rates is to make a habit of comparing prices annually from insurers who provide auto insurance in Nashville. Prices can be compared by following these guidelines.
- First, spend some time learning about how your policy works and the changes you can make to prevent rate increases. Many factors that drive up the price such as speeding tickets, careless driving and a substandard credit score can be improved by improving your driving habits or financial responsibility.
- Second, get rate quotes from exclusive agents, independent agents, and direct providers. Exclusive and direct companies can only give rate quotes from a single company like Progressive or Allstate, while independent agents can provide prices for many different companies. Select a company
- Third, compare the new rate quotes to your existing policy and determine if cheaper Corvette coverage is available. If you find better rates and buy the policy, ensure there is no coverage lapse between policies.
- Fourth, provide adequate notice to your current company of your intention to cancel your current policy. Submit the application along with any required down payment for your new coverage. As soon as you can, place your new certificate verifying proof of insurance in your glove compartment.
A good tip to remember is to try to use the same liability limits and deductibles on each price quote and and to get rate quotes from as many companies as you can. This helps ensure a fair price comparison and the best price selection.
Unfortunately, a large majority of drivers kept their policy with the same company for more than four years, and practically 40% of auto insurance customers have never taken the time to shop around. Most drivers in America could cut their rates by nearly 46.5% a year by just comparing quotes, but they underestimate the rate savings if they switched.
How to find low cost Chevy Corvette insurance in Nashville, Tennessee
All major insurance companies allow consumers to get price estimates direct online. Getting quotes for Chevy Corvette insurance in Nashville doesn’t take much effort as you simply enter the amount of coverage you want as detailed in the form. Once entered, their quoting system requests reports for credit and driving violations and returns pricing information based on the information you submitted.
This streamlines rate comparisons, and it’s also necessary to do this in order to get cheap rates.
To save time and compare rates using this form now, take a look at the companies shown below. If you have your current policy handy, we recommend you replicate the coverage information exactly as shown on your declarations page. This way, you will receive a price comparison based on the exact same insurance coverage.
The following companies offer comparison quotes in Nashville, TN. To get cheap auto insurance in Tennessee, it’s a good idea that you compare several of them to get the lowest price.
Insurance data for a Chevy Corvette
The information displayed below outlines estimates of rate quotes for Chevy Corvette models. Being able to understand how premiums are calculated can help you make decisions when shopping your coverage around.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|Corvette 2-Dr Coupe||$246||$536||$230||$14||$70||$1,096||$91|
|Corvette GS 2-Dr Coupe||$292||$598||$230||$14||$70||$1,204||$100|
|Corvette 2-Dr Convertible||$292||$598||$298||$18||$88||$1,294||$108|
|Corvette GS 2-Dr Convertible||$316||$660||$298||$18||$88||$1,380||$115|
|Corvette Z06 2-Dr Coupe||$316||$660||$230||$14||$70||$1,290||$108|
|Corvette ZR1 2-Dr Coupe||$406||$908||$230||$14||$70||$1,628||$136|
|Get Your Own Custom Quote Go|
Data variables include single male driver age 40, no speeding tickets, no at-fault accidents, $500 deductibles, and Tennessee minimum liability limits. Discounts applied include claim-free, multi-vehicle, safe-driver, multi-policy, and homeowner. Premium amounts do not factor in vehicle location which can decrease or increase coverage rates substantially.
The illustration below illustrates how your deductible choice and can influence Chevy Corvette annual premium costs for different age groups of insureds. The costs are based on a single female driver, full coverage, and no other discounts are factored in.
Comparison of full coverage and liability-only policies
The information below compares Chevy Corvette insurance premiums when comparing full coverage to liability only. The premiums assume no claims or violations, $100 deductibles, single marital status, and no discounts are applied.
Deciding between full coverage and liability only
There is no definitive guideline of when to eliminate full coverage on your policy, but there is a general guideline. If the annual cost of comprehensive and collision coverage is about 10% or more of the settlement you would receive from your company, then it might be time to consider dropping full coverage.
For example, let’s pretend your Chevy Corvette book value is $9,000 and you have $1,000 full coverage deductibles. If your vehicle is damaged in an accident, the most you would get paid by your company is $8,000 after paying the physical damage deductible. If you are currently paying more than $800 a year for your policy with full coverage, then it may be the right time to buy liability only.
There are a few situations where only buying liability is not a good plan. If you still owe a portion of the original loan, you must maintain physical damage coverage to protect the lienholder’s interest. Also, if your emergency fund is not enough to purchase a different vehicle in the even your car is totaled, you should not opt for liability only.
Three reasons auto insurance is important
Despite the fact that auto insurance is not cheap in Nashville, insuring your vehicle serves a purpose in several ways.
- The majority of states have compulsory liability insurance requirements which means you are required to buy specific limits of liability in order to get the vehicle licensed. In Tennessee these limits are 25/50/15 which means you must have $25,000 of bodily injury coverage per person, $50,000 of bodily injury coverage per accident, and $15,000 of property damage coverage.
- If your Chevy has a loan, more than likely the lender will force you to carry insurance to guarantee loan repayment. If you let the policy lapse, the lender may have to buy a policy to insure your Chevy at a much higher rate and require you to reimburse them the higher premium.
- Insurance protects not only your Chevy but also your assets. It will also pay for many types of medical costs for you, any passengers, and anyone injured in an accident. One policy coverage, liability insurance, also covers legal expenses if you are sued as the result of your driving. If your Chevy gets damaged, comprehensive and/or collision insurance will pay all costs to repair after the deductible has been paid.
The benefits of insuring your car more than offset the price you pay, particularly if you ever have a claim. Today the average American driver overpays as much as $850 per year so you should quote rates every year to save money.
Keep in mind that when it comes to choosing a policy for your personal vehicles, there is no one-size-fits-all type of policy. Every insured’s situation is different so your insurance should reflect that
For instance, these questions could help you determine whether you might need professional guidance.
- Will my insurance pay for OEM parts?
- Can I get by with minimal medical coverage if I have good health insurance?
- How much cheaper are high deductibles?
- Is my nanny covered when driving my vehicle?
- What is motorclub and do I need it?
- Does my liability insurance cover pulling a trailer or camper?
- Do all my vehicles need collision coverage?
- Should I bundle my homeowners policy with my auto?
- Do I need to call my car insurance company before buying a new car?
- What are the best liability limits?
If you’re not sure about those questions but one or more may apply to you, you may need to chat with an agent. To find an agent in your area, complete this form or click here for a list of car insurance companies in your area.
What car insurance coverages do you need?
Having a good grasp of your car insurance policy aids in choosing appropriate coverage and proper limits and deductibles. Car insurance terms can be difficult to understand and nobody wants to actually read their policy. These are the usual coverages found on most car insurance policies.
Collision coverage protection
This pays for damage to your Corvette from colliding with a stationary object or other vehicle. You will need to pay your deductible and then insurance will cover the remainder.
Collision insurance covers things like crashing into a ditch, rolling your car, colliding with a tree, hitting a mailbox and scraping a guard rail. This coverage can be expensive, so consider dropping it from vehicles that are 8 years or older. It’s also possible to choose a higher deductible on your Corvette to bring the cost down.
Medical expense coverage
Personal Injury Protection (PIP) and medical payments coverage kick in for expenses for things like pain medications, surgery, ambulance fees, EMT expenses and funeral costs. They are often used in conjunction with a health insurance program or if you are not covered by health insurance. It covers all vehicle occupants and also covers getting struck while a pedestrian. Personal Injury Protection is only offered in select states but can be used in place of medical payments coverage
Liability insurance can cover damages or injuries you inflict on other people or property. Liability coverage has three limits: per person bodily injury, per accident bodily injury, and a property damage limit. As an example, you may have policy limits of 25/50/15 that means you have $25,000 bodily injury coverage, a limit of $50,000 in injury protection per accident, and $15,000 of coverage for damaged property.
Liability coverage pays for things such as bail bonds, structural damage, pain and suffering, legal defense fees and loss of income. The amount of liability coverage you purchase is a personal decision, but you should buy as high a limit as you can afford. Tennessee requires drivers to carry at least 25/50/15 but it’s recommended drivers buy more liability than the minimum.
The illustration below demonstrates why buying minimum limits may not be high enough to adequately cover claims.
Uninsured or underinsured coverage
Your UM/UIM coverage provides protection when the “other guys” do not carry enough liability coverage. Covered losses include medical payments for you and your occupants as well as your vehicle’s damage.
Since a lot of drivers have only the minimum liability required by law (25/50/15 in Tennessee), it doesn’t take a major accident to exceed their coverage limits. So UM/UIM coverage is a good idea.
This will pay to fix damage caused by mother nature, theft, vandalism and other events. You need to pay your deductible first and the remainder of the damage will be paid by comprehensive coverage.
Comprehensive coverage pays for things like falling objects, hitting a deer, damage from flooding and hail damage. The highest amount your car insurance company will pay is the market value of your vehicle, so if it’s not worth much more than your deductible consider removing comprehensive coverage.
Shop smart and save
When trying to cut insurance costs, it’s very important that you do not buy lower coverage limits just to save a few bucks. In too many instances, an accident victim reduced liability coverage limits only to regret that it was a big mistake. Your goal is to buy a smart amount of coverage at the best price while still protecting your assets.
There are still a few companies who may not offer the ability to get quotes online and these regional insurance providers sell through independent insurance agents. More affordable insurance in Nashville is attainable online in addition to local insurance agencies, and you should compare rates from both to have the best selection.
More information can be read at the links below
- Auto Insurance FAQ (Farmers Insurance)
- Who Has the Cheapest Auto Insurance Rates for Used Cars in Nashville? (FAQ)
- Who Has Cheap Nashville Auto Insurance for a Dodge Ram? (FAQ)
- Who Has the Cheapest Nashville Car Insurance Quotes for Drivers with Bad Credit? (FAQ)
- Teen Driver Licensing Information (iihs.org)
- Uninsured Motorist Statistics (Insurance Information Institute)