Finding cheaper insurance for a Chevy Corvette in Oregon can normally be an all-consuming task, but you can follow our auto insurance buying tips and make it easy.
There is a right way and a wrong way to find auto insurance online and we’ll show you the absolute fastest way to quote coverages for your Chevy and get the lowest possible price.
It’s a good habit to quote other rates quite often because auto insurance prices change regularly. Just because you found the lowest quotes on Chevy Corvette insurance in Portland two years ago the chances are good that you can find a lower rate today. Ignore everything you know about auto insurance because you’re going to learn how to use online quotes to remove unneeded coverages and save money.
Auto insurance discounts help lower rates for Chevy Corvette insurance in Portland
Car insurance companies do not list all available discounts very well, so we break down some of the best known and the harder-to-find credits available to lower your premiums when you buy Portland auto insurance online.
- Seat Belts Save more than Lives – Forcing all vehicle occupants to use a seat belt may be able to save a few bucks off the PIP or medical payment premium.
- Federal Employees – Having worked for a branch of the government could qualify for a slight premium decrease depending on your company.
- Student Discount for Driver Training – Teen drivers should participate in a local driver’s education class as it can save substantially.
- Discount for Good Grades – Being a good student can earn a discount of 20% or more. The good student discount can last up to age 25.
- Sign Early and Save – Select larger companies give a discount for switching companies prior to your current Corvette insurance policy expiring. You can save around 10% with this discount.
- Resident Student – Children who are attending college and do not have a car can receive lower rates.
- Portland Homeowners Pay Less – Owning your own home or condo may trigger a policy discount on auto insurance since owning and maintaining a home is proof that your finances are in order.
- Theft Deterrent – Vehicles equipped with tracking devices and advanced anti-theft systems have a lower chance of being stolen and can earn a small discount on your policy.
- Auto/Life Discount – If the company offers life insurance, you could get a break if you buy some life insurance in addition to your auto policy.
You can save money using discounts, but most discount credits are not given to your bottom line cost. Most cut specific coverage prices like physical damage coverage or medical payments. So when the math indicates all those discounts means the company will pay you, auto insurance companies aren’t that generous.
The example below shows the difference between Chevy Corvette auto insurance rates with and without discounts applied to the policy premium. The premium estimates are based on a female driver, a clean driving record, no at-fault accidents, Oregon state minimum liability limits, comp and collision included, and $100 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with marriage, multi-car, claim-free, safe-driver, homeowner, and multi-policy discounts applied.
To choose providers that have a full spectrum of discounts in Oregon, click here to view.
Most companies like Allstate and Progressive provide prices directly from their websites. Doing online price comparisons for Chevy Corvette insurance in Portland can be done by anyone because you just enter your coverage information into a form. After you complete the form, the quote system will order your driving record and credit report and quotes a price based on the information you submitted.
Using the web to get quotes for Chevy Corvette insurance in Portland helps simplify price comparisons, and it’s absolutely necessary to have as many quotes as possible if you want to find cheaper rates.
To save time and find out if lower rates are available, take a look at the companies shown below. If you currently have coverage, we recommend you copy deductibles and limits identical to your current policy. This way, you will get rate comparison quotes for exact coverage.
The car insurance companies shown below can provide free quotes in Oregon. If you want to find cheaper car insurance in Portland, OR, it’s highly recommended you visit two to three different companies to get the best price comparison.
Insurance coverage details
The premium information displayed next outlines different coverage costs for Chevy Corvette models. Having insight into how premiums are established can assist in making smart choices when selecting a coverage provider.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|Corvette 2-Dr Coupe||$312||$588||$218||$12||$66||$1,196||$100|
|Corvette GS 2-Dr Coupe||$370||$656||$218||$12||$66||$1,322||$110|
|Corvette 2-Dr Convertible||$370||$656||$280||$16||$84||$1,406||$117|
|Corvette GS 2-Dr Convertible||$398||$724||$280||$16||$84||$1,502||$125|
|Corvette Z06 2-Dr Coupe||$398||$724||$218||$12||$66||$1,418||$118|
|Corvette ZR1 2-Dr Coupe||$514||$996||$218||$12||$66||$1,806||$151|
|Get Your Own Custom Quote Go|
Data variables include married male driver age 40, no speeding tickets, no at-fault accidents, $250 deductibles, and Oregon minimum liability limits. Discounts applied include claim-free, multi-vehicle, homeowner, safe-driver, and multi-policy. Table data does not factor in zip code location which can modify price quotes significantly.
The diagram below highlights how deductible selection and can impact Chevy Corvette insurance premiums for different age groups of insureds. The price estimates are based on a single female driver, full physical damage coverage, and no policy discounts are applied.
Should you buy full coverage?
The information below compares Chevy Corvette premium costs with full physical damage coverage and with liability coverage only. The price estimates are based on no violations or claims, $500 deductibles, drivers are not married, and no discounts are applied to the premium.
When to switch to liability coverage only
There is no clear-cut rule to drop physical damage coverage, but there is a general convention. If the yearly cost of comp and collision coverage is more than 10% of replacement cost minus your deductible, then you might want to think about dropping full coverage.
For example, let’s pretend your Chevy Corvette claim settlement value is $7,000 and you have $1,000 deductibles. If your vehicle is severely damaged, the most you would receive is $6,000 after paying the physical damage deductible. If you are paying over $600 annually for physical damage coverage, then it might be time to consider dropping full coverage.
There are some conditions where dropping physical damage coverage is not advised. If you have an outstanding loan on your vehicle, you have to keep full coverage as part of the loan conditions. Also, if you cannot afford to purchase a different vehicle if your current one is damaged, you should not drop full coverage.
The Chevy Corvette Insurance Rate Equation
An important part of buying insurance is that you know a few of the rating criteria that help calculate the rates you pay for auto insurance. When you understand what influences your rates, this allows you to make educated decisions that can earn you lower premium levels.
How credit rating affects auto insurance rates – Your credit score can be an important factor in determining what you pay for auto insurance. If your credit score can be improved, you may save money insuring your Chevrolet Corvette by taking the time to improve your credit score. Drivers who have very good credit scores tend to file fewer claims as compared to drivers with poor credit.
Insurance costs are higher for high performance vehicles – The type of car, truck or SUV you are insuring makes a huge difference in your premium level. The most favorable rates are usually found on smaller low performance passenger cars, but the cost you end up paying is determined by many additional factors.
The data below uses these variables: married male driver age 40, full coverage with $500 deductibles, and no discounts or violations. It compares Chevrolet Corvette insurance rates compared to other makes and models that have a range of performances.
Multiple policies with one company can save – Most major auto insurance companies give a discount to customers who consolidate policies with them. It’s known as a multi-policy discount. Even though this discount sounds good, it’s still a good idea to comparison shop to make sure you are getting the best deal.There is a good possibility that you can save more without the discount by insuring with multiple companies.
Good drivers pay the best premiums – Being a careful driver impacts premiums far more than you think. Having a single ticket can bump up the cost by twenty percent. Drivers who don’t get tickets pay less for auto insurance as compared to careless drivers. Drivers who get flagrant citations like reckless driving, hit and run or driving under the influence may be required to file a SR-22 with their state in order to continue driving.
The illustration below highlights how traffic violations and fender-benders raise Chevy Corvette car insurance rates for each age group. The costs are based on a married female driver, comp and collision included, $250 deductibles, and no other discounts are factored in.
Eliminate unneeded extra coverages – Policies have extra add-on coverages that sound like a good idea at the time on your Corvette policy. Insurance for coverage for rental cars, death and dismemberment, and motor club memberships may not be needed and are just wasting money. These may sound like a good investment at first, but if you have no use for them get rid of them and save.
Chevy Corvette statistical loss data – Insurance companies use past loss statistics for each vehicle in order to profitably underwrite each model. Models that tend to have higher claim frequency or loss amount will cost more for coverage. The data below shows the collected loss data for Chevy Corvette vehicles.
For each insurance policy coverage type, the claim amount for all vehicles compiled together is represented as 100. Values that are 100 or less imply a favorable loss record, while values that are above 100 indicate a higher chance of having a claim or an increased probability of a larger loss.
|Vehicle 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
Independent versus exclusive auto insurance agents
A lot of people would rather talk to a local agent and that can be a smart move Most agents can help determine the best coverages and give you someone to call. One of the great benefits of price shopping on the web is that you can obtain lower rates and still have a local agent. Supporting neighborhood agents is definitely important in Portland.
For easy comparison, once you complete this short form, your insurance data gets sent to local insurance agents in Portland that can provide free Portland auto insurance quotes for your insurance coverage. You won’t need to search for an agent since rate quotes are delivered to your email. In the event you want to compare rates from a specific auto insurance provider, you would need to search and find their rate quote page and fill out their quote form.
When narrowing the list to find a reputable insurance agent or broker, it can be helpful to understand the types of insurance agents that you can select. Auto insurance agents may be either independent or exclusive depending on the company they work for. Both types can insure your vehicles, but it is a good idea to know how they are different because it can influence buying decisions.
Independent Auto Insurance Agencies
Agents that elect to be independent are not restricted to one company and that gives them the ability to insure with many different companies and find the cheapest auto insurance rates. If they quote lower rates, your agent can just switch to a different company which requires no work on your part.
When comparing auto insurance rates, you will definitely want to get quotes from at a minimum one independent agency for the best price selection. Many independent agencies also insure through small mutual carriers that can offer cheaper rates than bigger companies.
Below is a partial list of independent insurance agencies in Portland that can give you free auto insurance rate quotes.
- Darrell Grenz Insurance Agency
5651 N Lombard St – Portland, OR 97203 – (503) 206-6736 – View Map
- Propel Insurance
888 SW 5th Ave #1170 – Portland, OR 97204 – (503) 467-7540 – View Map
- Oregon Insurance Advisor – Mark Strauss
5201 SW Westgate Dr #300 – Portland, OR 97221 – (503) 922-4847 – View Map
Agents of this type can only provide one company’s prices such as AAA, Allstate, and State Farm. These agents are not able to shop your coverage around so it’s a take it or leave it situation. Exclusive agencies are trained well on sales techniques which helps overcome the inability to quote other rates. Consumers sometimes use the same exclusive agent partially due to high brand loyalty rather than having low rates.
Shown below are exclusive agencies in Portland willing to provide price quotes.
- Roland Havens – State Farm Insurance Agent
6720 NE Glisan St – Portland, OR 97213 – (503) 252-1608 – View Map
- Chris Lawson – State Farm Insurance Agent
3118 NE Broadway St – Portland, OR 97232 – (503) 282-4569 – View Map
- Mark Nguyen – State Farm Insurance Agent
14146 SE Stark St – Portland, OR 97233 – (503) 253-2110 – View Map
Selecting an auto insurance agent should depend on more than just a cheap quote. Before buying a policy in Portland, get answers to these questions.
- Which insurance companies are they affiliated with?
- Are they in the agency full-time?
- If you have an accident, are you able to get your vehicle repaired at the shop of your choice?
- Is the coverage adequate for your vehicle?
- Which companies do they recommend if they are an independent agency?
- Are claim adjusters local or do you have to take your car somewhere else?
- Will vehicle repairs be made with aftermarket parts or OEM replacement parts?
- How is replacement cost determined on your vehicle?
Best reasons to buy car insurance in Oregon
Even though Portland Corvette insurance rates can get expensive, insuring your vehicle serves several important purposes.
- Most states have minimum liability requirements which means the state requires a minimum amount of liability insurance coverage if you drive a vehicle. In Oregon these limits are 25/50/20 which means you must have $25,000 of bodily injury coverage per person, $50,000 of bodily injury coverage per accident, and $20,000 of property damage coverage.
- If you bought your Corvette with a loan, most lenders will stipulate that you buy full coverage to guarantee their interest in the vehicle. If the policy lapses, the lender may insure your Chevy for a lot more money and require you to reimburse them for it.
- Car insurance protects both your car and your personal assets. Insurance will pay for hospital and medical expenses for yourself as well as anyone injured by you. One policy coverage, liability insurance, will also pay attorney fees if anyone sues you for causing an accident. If damage is caused by hail or an accident, collision and comprehensive coverages will pay to have it repaired.
The benefits of having insurance outweigh the cost, especially when you need to use it. According to a 2015 survey, the average American driver is overpaying over $830 a year so shop around at least once a year to save money.
What is YOUR best insurance company?
Cheap Chevy Corvette insurance in Portland is definitely available from both online companies as well as from insurance agents, so you should be comparing quotes from both so you have a total pricing picture. Some insurance companies may not provide online rate quotes and many times these small insurance companies prefer to sell through independent insurance agencies.
When shopping online for car insurance, it’s a bad idea to buy less coverage just to save a little money. Too many times, consumers will sacrifice comprehensive coverage or liability limits only to regret they didn’t have enough coverage. Your objective should be to buy enough coverage for the lowest price while not skimping on critical coverages.
We just covered many tips how you can compare Chevy Corvette insurance auto insurance rates in Portland. The key thing to remember is the more companies you get premium rates for, the better your comparison will be. Consumers could even find that the most savings is with a lesser-known regional company.
Steps to finding discount Chevy Corvette insurance in Portland
The preferred way to get discount auto insurance rates in Portland is to compare prices annually from insurers in Oregon. You can compare rates by following these steps.
- Step 1: Spend a few minutes and learn about how insurance works and the things you can control to prevent high rates. Many risk factors that are responsible for high rates such as speeding and a less-than-favorable credit score can be amended by making small lifestyle or driving habit changes.
- Step 2: Compare price quotes from independent agents, exclusive agents, and direct companies. Direct companies and exclusive agencies can give quotes from one company like Progressive or Farmers Insurance, while independent agents can quote prices for a wide range of insurance providers. Begin your rate comparison
- Step 3: Compare the new rate quotes to the premium of your current policy to see if switching to a new carrier will save money. If you find a lower rate quote, ensure coverage does not lapse between policies.
- Step 4: Give notification to your current company of your decision to cancel your current auto insurance policy. Submit payment and a signed application to your new carrier. As soon as you have the new policy, store the certificate verifying proof of insurance in your glove compartment.
An important part of this process is that you use the same liability limits and deductibles on every quote request and and to get prices from as many companies as you can. This provides a level playing field and the best price quote selection.
Much more information about car insurance in Oregon is available on the following sites:
- Speed and Speed Limit FAQ (iihs.org)
- What Auto Insurance is Cheapest for a 20 Year Old Male in Portland? (FAQ)
- Who Has Cheap Car Insurance Rates for Veterans in Portland? (FAQ)
- What Insurance is Cheapest for a Toyota Camry in Portland? (FAQ)
- Smart Auto Insurance Tips (Insurance Information Institute)
- Choosing a Car for Your Teen (State Farm)