Car Insurance Rates for a Chevy Corvette in Anchorage

Insurance rates Chevy Corvette in AnchorageHow many times have you told yourself to find the cheapest Chevy Corvette insurance in Anchorage? I can’t think of anyone who is fond of buying car insurance, especially when they know the cost is too high.

Unbelievable but true, 70% of consumers have remained with the same car insurance company for over three years, and approximately 38% of consumers have never quoted rates to find affordable coverage. Many consumers in Alaska could save themselves almost $400 a year just by comparing rates, but they underestimate the amount of savings they would get if they switched.

How to find the cheapest rates for Chevy Corvette insurance in Anchorage

The easiest way to get budget Chevy Corvette insurance in Anchorage is to do a yearly price comparison from insurance carriers in Alaska. You can compare prices by following these steps.

The critical component of shopping around is to use the same liability limits and deductibles on each price quote and and to analyze as many car insurance companies as possible. This ensures a level playing field and the best price selection.

Having so many online and local companies to choose from, it is very difficult to choose a more affordable company.

It’s a great practice to compare rates at least once a year because car insurance prices are rarely the same from one policy term to another. Even if you think you had the lowest rate on Chevy Corvette insurance in Anchorage a few years ago you will most likely find a better premium rate today. Forget anything you know (or think you know) about car insurance because you’re going to get a crash course in one of the best ways to find better rates and still maintain coverage.

Comparison shopping for the best policy in Anchorage is not as hard as you may think. In essence, every car owner who buys auto insurance should be able to lower their premiums. Nevertheless, Alaska vehicle owners can benefit by having an understanding of the way companies price online insurance and use it to find better rates.

Compare Anchorage Chevy Corvette insurance rate quotes online

Most of the larger companies make it easy to get prices for coverage on their websites. Getting Chevy Corvette insurance prices online is pretty painless as all you need to do is type in your personal and coverage information as detailed in the form. Once entered, their quoting system sends out for your credit score and driving record and returns a price quote based on the information you submitted. Getting online quotes for Chevy Corvette insurance in Anchorage makes it a lot easier to compare rates and it is imperative to have as many quotes as possible if you want to find cheap auto insurance pricing.

To quickly compare pricing, check out the auto insurance providers below. If you have a policy now, it’s recommended you complete the form with coverages and limits as shown on your current policy. This helps ensure you will have comparison quotes for exact coverage.

The providers in the list below can provide free rate quotes in Alaska. If you want to find cheap auto insurance in Anchorage, it’s a good idea that you visit as many as you can to get the best price comparison.

Verify you’re earning every discount

Some insurance providers don’t always publicize every discount they offer in an easy-to-find place, so the following is a list of both the well known in addition to some of the lesser obvious credits available to lower your premiums when you buy Anchorage car insurance online.Insurance discounts

Discounts save money, but please remember that most discount credits are not given to the entire cost. Most only reduce the cost of specific coverages such as comp or med pay. Even though it may seem like adding up those discounts means a free policy, company stockholders wouldn’t be very happy.

The information below shows the comparison of Chevy Corvette insurance costs with and without policy discounts. The premiums are based on a female driver, no accidents or driving violations, Alaska state minimum liability limits, comprehensive and collision coverage, and $250 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with homeowner, multi-policy, claim-free, multi-car, marriage, and safe-driver discounts applied.

A few companies that possibly offer most of the discounts above include:

Before purchasing a policy, check with every prospective company to give you their best rates. Discounts might not be available to policyholders in Anchorage.

Chevy Corvette insurance rates and statistics

The premium information displayed below outlines estimates of insurance coverage prices for Chevy Corvette models. Having knowledge of how insurance policy premiums are calculated is important for you to make smart choices when buying a policy.

Chevrolet Corvette Insurance Rates in Anchorage, AK
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Corvette 2-Dr Coupe $324 $648 $180 $10 $54 $1,216 $101
Corvette GS 2-Dr Coupe $384 $724 $180 $10 $54 $1,352 $113
Corvette 2-Dr Convertible $384 $724 $232 $14 $70 $1,424 $119
Corvette GS 2-Dr Convertible $414 $800 $232 $14 $70 $1,530 $128
Corvette Z06 2-Dr Coupe $414 $800 $180 $10 $54 $1,458 $122
Corvette ZR1 2-Dr Coupe $536 $1102 $180 $10 $54 $1,882 $157
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Data rating is based on married male driver age 30, no speeding tickets, no at-fault accidents, $100 deductibles, and Alaska minimum liability limits. Discounts applied include multi-policy, multi-vehicle, safe-driver, homeowner, and claim-free. Table data does not factor in specific Anchorage garaging location which can influence coverage rates greatly.

Can higher deductibles save money?

When buying car insurance, a common question is what deductibles to buy. The rates below can help illustrate the premium difference between low and high policy deductibles. The first data table uses a $250 deductible and the second rate table uses a $1,000 deductible.

Chevrolet Corvette insurance rates with $250 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Corvette 2-Dr Coupe $292 $544 $180 $10 $54 $1,105 $92
Corvette GS 2-Dr Coupe $346 $606 $180 $10 $54 $1,221 $102
Corvette 2-Dr Convertible $346 $606 $232 $14 $70 $1,293 $108
Corvette GS 2-Dr Convertible $372 $670 $232 $14 $70 $1,383 $115
Corvette Z06 2-Dr Coupe $372 $670 $180 $10 $54 $1,311 $109
Corvette ZR1 2-Dr Coupe $480 $922 $180 $10 $54 $1,671 $139
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Chevrolet Corvette insurance rates with $1,000 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Corvette 2-Dr Coupe $180 $342 $180 $10 $54 $766 $64
Corvette GS 2-Dr Coupe $214 $382 $180 $10 $54 $840 $70
Corvette 2-Dr Convertible $214 $382 $232 $14 $70 $912 $76
Corvette GS 2-Dr Convertible $230 $422 $232 $14 $70 $968 $81
Corvette Z06 2-Dr Coupe $230 $422 $180 $10 $54 $896 $75
Corvette ZR1 2-Dr Coupe $298 $580 $180 $10 $54 $1,122 $94
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Cost estimates assume married male driver age 30, no speeding tickets, no at-fault accidents, and Alaska minimum liability limits. Discounts applied include multi-policy, safe-driver, homeowner, multi-vehicle, and claim-free. Information does not factor in specific zip code location which can raise or lower price quotes noticeably.

Based on this data, using a $250 deductible costs approximately $34 more each month or $408 annually across all Chevrolet Corvette models than quoting the higher $1,000 deductible. Because you would be required to pay $750 more if you turn in a claim with a $1,000 deductible as compared to a $250 deductible, if you have more than 22 months between claims, you would probably save some money if you choose a higher deductible.

How to calculate deductible break even period

Average monthly premium for $250 deductibles: $111
Average monthly premium for $1,000 deductibles (subtract): – $77
Monthly savings from raising deductible: $34
Difference between deductibles ($1,000 – $250): $750
Divide difference by monthly savings: $750 / $34
Number of months required between physical damage coverage claims in order to save money by choosing the higher deductible 22 months

One important caveat is that increasing deductibles to save money results in a higher out-of-pocket expense when you file a claim. You need some savings in the event you need to pay the higher deductible.

The chart below illustrates how your choice of deductibles and can change Chevy Corvette insurance rates for each different age group. The premiums assume a married male driver, comp and collision included, and no additional discounts are factored in.

How to find a good Alaska auto insurance company

Selecting the highest-rated insurer can be a challenge considering how many choices drivers have in Anchorage. The rank data in the next section can help you select which car insurance providers you want to consider when looking for cheaper rates.

Top 10 Anchorage Car Insurance Companies Overall

  1. USAA
  2. American Family
  3. State Farm
  4. The Hartford
  5. AAA Insurance
  6. GEICO
  7. The General
  8. Progressive
  9. Allstate
  10. Liberty Mutual

Top 10 Anchorage Car Insurance Companies Ranked by Customer Satisfaction

  1. USAA – 94%
  2. AAA Insurance – 91%
  3. State Farm – 90%
  4. GEICO – 89%
  5. The Hartford – 89%
  6. The General – 88%
  7. 21st Century – 88%
  8. Allstate – 88%
  9. Liberty Mutual – 88%
  10. Esurance – 87%

What Determines Chevy Corvette Insurance Premiums?

Smart consumers have a good feel for some of the things that play a part in calculating the rates you pay for car insurance. When consumers understand what positively or negatively impacts your premiums, this enables you to make decisions that could help you find lower car insurance prices. Lots of factors are considered when quoting car insurance. Most are fairly basic such as your driving record, but some are less obvious like where you live or how safe your car is.

The following are most of the major factors car insurance companies consider when setting prices.

Battle of the sexes – Over time, data shows women are more cautious behind the wheel. This data doesn’t prove that men are WORSE drivers than women. They both cause accidents in similar percentages, but guys have accidents that have higher claims. Not only that, but men also get more serious tickets like reckless driving and DUI. Male drivers age 16 to 19 tend to get in the most accidents and are penalized with high car insurance rates.

The example below shows the difference between Chevy Corvette insurance costs for male and female drivers. The premium estimates are based on no claims, a clean driving record, comp and collision included, $1,000 deductibles, drivers are not married, and no additional discounts are factored in.

Lower rates come with age – Beginning drivers in Alaska are known to be careless and easily distracted behind the wheel therefore car insurance rates are much higher. Older people have been proven to be more responsible, cause fewer claims and accidents, and are generally more financially stable.

The data below assumes a single driver, full coverage with $1000 deductibles, and no discounts or violations.

Safer vehicles cost less to insure – Vehicles with good safety scores tend to have better insurance rates. Safe vehicles help reduce the chance of injuries in an accident and any reduction in injury severity means less claims paid passed on to you as lower rates.

Liability coverage safeguards assets – The liability coverage on your policy is the protection when you are found liable for an accident. Liability provides legal defense coverage up to the limits shown on your policy. Liability is cheap when compared to the cost of physical damage coverage, so buy as much as you can afford.

A good credit rating can save money – Having a bad credit history can be a huge factor in determining what you pay for car insurance. Therefore, if your credit score is low, you may save money insuring your Chevrolet Corvette by improving your rating. Consumers who have very good credit scores tend to be more responsible as compared to drivers with poor credit.

Insurance losses for a Chevy Corvette – Companies take into consideration historical loss data for every vehicle to help calculate premium costs. Models that statistically have high amounts or severity of claims will cost more to insure.

The table below illustrates the actual insurance loss data for Chevy Corvette vehicles. For each policy coverage type, the loss probability for all vehicles, regardless of make or model, is a value of 100. Values that are under 100 represent a good loss history, while numbers shown that are more than 100 indicate more frequent losses or statistically larger losses.

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