Everyone knows that auto insurance companies want to keep you from comparing prices. Consumers who get price quotes annually are very likely to switch to a new company because of the good chance of finding lower rate quotes. A study showed that consumers who regularly compared price quotes saved an average of $3,400 over four years compared to people who never compared rates.
If finding discount rates on Chevy Corvette insurance is your objective, then understanding how to shop and compare insurance can save time, money, and frustration.
Really, the only way to find lower priced Chevy Corvette insurance is to compare prices regularly from providers that insure vehicles in Lubbock. You can shop around by completing these steps.
Step 1: Try to comprehend how car insurance works and the changes you can make to lower rates. Many rating criteria that cause high rates like traffic citations, accidents, and a not-so-good credit rating can be amended by improving your driving habits or financial responsibility.
Step 2: Quote rates from independent agents, exclusive agents, and direct companies. Direct companies and exclusive agencies can only give prices from one company like Progressive or State Farm, while independent agents can quote prices from multiple companies. View rates
Step 3: Compare the new rate quotes to the price on your current policy to determine if switching companies saves money. If you find a lower rate and make a switch, verify that coverage does not lapse between policies.
Step 4: Notify your agent or company to cancel your current policy and submit payment and a signed application for your new policy. Make sure you put the new certificate verifying proof of insurance above your visor, in the console, or in the glove compartment.
A tip to remember is to try to use identical limits and deductibles on every quote request and and to get price estimates from as many carriers as you can. Doing this helps ensure a level playing field and a thorough selection of prices.
If you are insured now, you stand a good chance to be able to cut your premiums using the concepts covered in this article. This article will teach you how car insurance quotes work and some tips to save money. Nevertheless, Texas drivers benefit from understanding how insurance companies price insurance differently because it varies considerably.
Cheap car insurance in Lubbock, TX
The companies shown below are our best choices to provide price quotes in Texas. If you want cheap auto insurance in Lubbock, it’s highly recommended you visit two to three different companies to get the most affordable price.
Coverage information
The information shown below outlines estimates of coverage prices for Chevy Corvette models. Having knowledge of how car insurance premiums are calculated can be valuable when making decisions when shopping around.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| Corvette 2-Dr Coupe | $436 | $1026 | $326 | $20 | $98 | $1,906 | $159 |
| Corvette GS 2-Dr Coupe | $518 | $1146 | $326 | $20 | $98 | $2,108 | $176 |
| Corvette 2-Dr Convertible | $518 | $1146 | $422 | $24 | $126 | $2,236 | $186 |
| Corvette GS 2-Dr Convertible | $558 | $1266 | $422 | $24 | $126 | $2,396 | $200 |
| Corvette Z06 2-Dr Coupe | $558 | $1266 | $326 | $20 | $98 | $2,268 | $189 |
| Corvette ZR1 2-Dr Coupe | $720 | $1742 | $326 | $20 | $98 | $2,906 | $242 |
| Get Your Own Custom Quote Go | |||||||
Data variables include single female driver age 40, no speeding tickets, no at-fault accidents, $100 deductibles, and Texas minimum liability limits. Discounts applied include homeowner, claim-free, safe-driver, multi-vehicle, and multi-policy. Rates do not factor in zip code location which can change rates greatly.
Policy deductible comparison
One of the most common auto insurance questions is how high should the physical damage coverage deductibles be. The rates below can help show the price difference when you choose different policy deductibles. The first pricing table uses a $100 deductible and the second price chart uses a $500 deductible.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| Corvette 2-Dr Coupe | $454 | $908 | $252 | $14 | $76 | $1,729 | $144 |
| Corvette GS 2-Dr Coupe | $538 | $1014 | $252 | $14 | $76 | $1,919 | $160 |
| Corvette 2-Dr Convertible | $538 | $1014 | $324 | $20 | $96 | $2,017 | $168 |
| Corvette GS 2-Dr Convertible | $582 | $1120 | $324 | $20 | $96 | $2,167 | $181 |
| Corvette Z06 2-Dr Coupe | $582 | $1120 | $252 | $14 | $76 | $2,069 | $172 |
| Corvette ZR1 2-Dr Coupe | $750 | $1542 | $252 | $14 | $76 | $2,659 | $222 |
| Get Your Own Custom Quote Go | |||||||
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| Corvette 2-Dr Coupe | $332 | $614 | $252 | $14 | $76 | $1,288 | $107 |
| Corvette GS 2-Dr Coupe | $394 | $686 | $252 | $14 | $76 | $1,422 | $119 |
| Corvette 2-Dr Convertible | $394 | $686 | $324 | $20 | $96 | $1,520 | $127 |
| Corvette GS 2-Dr Convertible | $424 | $756 | $324 | $20 | $96 | $1,620 | $135 |
| Corvette Z06 2-Dr Coupe | $424 | $756 | $252 | $14 | $76 | $1,522 | $127 |
| Corvette ZR1 2-Dr Coupe | $548 | $1042 | $252 | $14 | $76 | $1,932 | $161 |
| Get Your Own Custom Quote Go | |||||||
Above prices assume married male driver age 30, no speeding tickets, no at-fault accidents, and Texas minimum liability limits. Discounts applied include homeowner, claim-free, multi-vehicle, multi-policy, and safe-driver. Rates do not factor in your specific Lubbock location which can decrease or increase rates considerably.
We can estimate from the data above that using a $100 deductible could cost the average driver approximately $46 more each month or $552 a year across all Chevrolet Corvette models than opting for the higher $500 deductible. Due to the fact that you would have to pay $400 more out-of-pocket with a $500 deductible as compared to a $100 deductible, if you usually have at a minimum 9 months between claim filings, you would probably come out ahead by going with a higher deductible.
How to calculate deductible break even point
| Average monthly premium for $100 deductibles: | $175 |
| Average monthly premium for $500 deductibles (subtract): | – $129 |
| Monthly savings from raising deductible: | $46 |
| Difference between deductibles ($500 – $100): | $400 |
| Divide difference by monthly savings: | $400 / $46 |
| Number of months required between physical damage coverage claims in order to save money by choosing the higher deductible | 9 months |
One important note is that a higher deductible means you pay more out-of-pocket at claim time. You will want to have enough money stashed away in order to pay the higher deductible.
Difference between full coverage and liability only rates
The illustration below shows the comparison of Chevy Corvette car insurance rates with and without physical damage coverage. The premium estimates are based on a clean driving record, no at-fault accidents, $100 deductibles, single status, and no discounts are applied to the premium.
When to eliminate full coverage
There isn’t a written rule to stop buying comp and collision coverage, but there is a broad guideline. If the yearly cost for physical damage coverage is about 10% or more of the settlement you would receive from your company, then you may need to consider dropping full coverage.
For example, let’s say your Chevy Corvette replacement cost is $5,000 and you have $1,000 full coverage deductibles. If your vehicle is severely damaged, the most your company will settle for is $4,000 after paying your policy deductible. If you are currently paying more than $400 a year for comprehensive and collision coverage, then it may be the right time to buy liability only.
There are some circumstances where eliminating full coverage is not recommended. If you haven’t satisfied your loan, you have to carry 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 remove full coverage.
Insurance policy discounts for Chevy Corvette insurance in Lubbock
Properly insuring your vehicles can get expensive, but you might find some hidden discounts that many people don’t even know exist. Some of these discounts will be visible at the time you complete a quote, but some discounts are required to be manually applied prior to receiving the credit.
- Anti-theft Discount – Vehicles that have factory alarm systems and tracking devices are stolen less frequently and can earn a small discount on your policy.
- Own a Home and Save – Being a homeowner can help you save on insurance because of the fact that having a home means you have a higher level of financial diligence.
- Drive Less and Save – Fewer annual miles on your Chevy may allow you to get cheaper insurance rates.
- Accident Forgiveness – This isn’t a discount exactly, but some companies like Allstate and GEICO will turn a blind eye to one accident without raising rates as long as you don’t have any claims prior to being involved in the accident.
- Passive Restraints – Vehicles equipped with air bags or automatic seat belts can qualify for discounts of 25 to 30%.
- ABS Brakes – Vehicles with ABS braking systems or traction control are safer to drive and earn discounts up to 10%.
You should keep in mind that some of the credits will not apply to the overall cost of the policy. Most only cut the price of certain insurance coverages like medical payments or collision. Even though it appears you could get a free insurance policy, insurance companies wouldn’t stay in business.
The chart below compares Chevy Corvette insurance premiums with and without discounts being applied to the rates. The premiums are based on a male driver, no accidents, no driving violations, Texas state minimum liability limits, full coverage, and $250 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with safe-driver, marriage, multi-policy, multi-car, homeowner, and claim-free discounts applied.
Popular insurance companies and some of the premium reductions they offer can be read below.
- The Hartford policyholders can earn discounts including good student, defensive driver, driver training, air bag, bundle, anti-theft, and vehicle fuel type.
- American Family has discounts for defensive driver, air bags, TimeAway discount, multi-vehicle, Steer into Savings, and accident-free.
- Progressive offers discounts including online quote discount, continuous coverage, multi-policy, homeowner, multi-vehicle, and online signing.
- Travelers may offer discounts for hybrid/electric vehicle, IntelliDrive, continuous insurance, new car, multi-policy, student away at school, and early quote.
- Farmers Insurance may include discounts for early shopping, bundle discounts, alternative fuel, pay in full, and multi-car.
- USAA offers discounts for multi-vehicle, safe driver, driver training, new vehicle, and good student.
- Liberty Mutual offers premium reductions for safety features, hybrid vehicle, new move discount, good student, multi-car, preferred payment discount, and newly married.
If you need affordable Chevrolet Corvette insurance quotes, ask all the companies which credits you are entitled to. Some credits might not be offered on policies everywhere. To see providers that offer multiple discounts in Texas, click here.
How to Lower Your Insurance Prices
Part of the insurance buying process is learning the different types of things that help determine the rates you pay for insurance. When you understand what positively or negatively impacts your premiums, this allows you to make educated decisions that can earn you better insurance rates.
The following are most of the major factors insurance companies consider when setting prices.
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Women pay lower premiums – Statistics show women tend to be less risk to insure than men. However, don’t assume that women are BETTER drivers than men. Males and females cause auto accidents in similar numbers, but males cause more damage. They also get cited for more serious violations like reckless driving and DUI. Male teenagers generally have the highest accident percentage so they pay the highest premiums.
The chart below illustrates the comparison of Chevy Corvette car insurance rates for male and female drivers. Data assumes no claims, a clean driving record, comprehensive and collision coverage, $250 deductibles, drivers are not married, and no other discounts are factored in.
- Do you work long hours in a tough employer? – Occupations such as military generals, police officers, and financial analysts have the highest rates attributed to intense work-related stress and incredibly demanding work hours. Conversely, careers such as actors, students and homemakers have the lowest average rates.
- Car insurance liability limits – A critical coverage on your policy, liability insurance provides coverage when you are determined to be liable for causing damage or personal injury in an accident. Your liability coverage provides legal defense coverage to defend your case. It is affordable coverage compared to comp and collision, so drivers should buy more than the minimum limits required by law.
- Raise your comp and collision deductibles for better costs – Physical damage coverage, termed comprehensive and collision coverage on your policy, helps pay for damage to your vehicle. Some instances where coverage would apply are a broken side mirror, hail damage, and damage from a fallen tree branch. Deductibles for physical damage state the amount of money you are required to spend out-of-pocket if a claim is determined to be covered. The larger the amount the insured is willing to pay, the better rate you will receive.
- High insurance claims frequency drives up premiums – If you’re an insured who likes to file claims you can pretty much guarantee increased rates or even have your policy non-renewed. Insurance companies in Texas generally give the lowest premiums to policyholders who are not frequent claim filers. Auto insurance is intended for major claims that would cause financial hardship.
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Insurance losses for a Chevy Corvette – Companies take into consideration historical loss data for every vehicle to help determine the price you pay. Models that statistically have a trend towards higher claims will cost more for coverage. The table below demonstrates the actual insurance loss data for Chevy Corvette vehicles.
For each policy coverage, the claim probability for all vehicles combined as an average is represented as 100. Values below 100 are indicative of better than average losses, while values over 100 indicate higher probability of having a loss or a tendency for losses to be larger than average.
Car Insurance Loss Data for Chevrolet Corvette Models Vehicle 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: iihs.org (Insurance Institute for Highway Safety) for 2013-2015 Model Years
Local Lubbock insurance agencies
Some people would prefer to talk to a local agent and doing so can bring peace of mind A good thing about comparing rates online is you may find better rates and also buy local.
To find an agent, once you fill out this form (opens in new window), your information is instantly submitted to agents in your area that can provide free Lubbock car insurance quotes for your insurance coverage. It simplifies rate comparisons since you won’t have to even leave your home as quotes are delivered straight to your inbox. You can find the lowest rates AND an agent nearby. If you wish to compare prices from one company in particular, you would need to jump over to their website and fill out the quote form the provide.
Finding the right insurance company shouldn’t rely on just the premium amount. Here are some questions you should ask.
- Is coverage determined by price?
- Is insurance their full-time profession?
- How many years of experience in personal auto insurance do they have?
- What insurance company do they write the most business with?
- How many companies do they write for?
- Is assistance available after office hours?
- How often do they review policy coverages?
How to choose the best car insurance agent in Lubbock
When looking for a local insurance agency, it helps to know the two types of agencies and how they can quote your rates. Auto insurance policy providers are either independent or exclusive.
Exclusive Auto Insurance Agents
These agents work for only one company such as Farmers Insurance or State Farm. They are unable to place coverage with different providers so you might not find the best rates. They are well trained on their products and sales techniques and that enables them to sell even at higher rates. Many people buy from exclusive agents mostly because of the brand legacy and solid financial strength.
Listed below are exclusive agents in Lubbock that are able to give comparison quotes.
- Mark Jennings – State Farm Insurance Agent
6301 19th St #4 – Lubbock, TX 79407 – (806) 792-4432 – View Map - Chris Prather – State Farm Insurance Agent
4412 74th St f101 – Lubbock, TX 79424 – (806) 792-3331 – View Map - Farmers Insurance
3206 34th St – Lubbock, TX 79410 – (806) 791-2892 – View Map
Independent Agencies or Brokers
Agents that choose to be independent do not work for one specific company and that gives them the ability to insure through lots of different companies depending on which coverage is best. If premiums increase, your policy is moved internally which requires no work on your part.
If you are trying to find cheaper rates, we recommend you compare prices from a few independent agents to get the best comparison. Many independent agencies also insure through smaller companies which can be an advantage.
Listed below are independent insurance agents in Lubbock that are able to give comparison quotes.
- Area Insurance Associates
4202 Avenue Q – Lubbock, TX 79412 – (806) 747-2400 – View Map - Bledsoe Insurance Agency
5143 69th St – Lubbock, TX 79424 – (806) 794-8686 – View Map - Butler Carson Tate Insurance
4505 82nd St # 10 – Lubbock, TX 79424 – (806) 798-7979 – View Map
Lubbock car insurance companies ranked
Finding the right insurer can be a challenge considering how many different companies insure vehicles in Lubbock. The ranking information in the next section can help you choose which companies to look at buying from.
| Company | Value | Customer Service | Claims | Customer Satisfaction | A.M Best Rating | Overall Score |
|---|---|---|---|---|---|---|
| Travelers | 93 | 98 | 99 | 88% | A++ | 95.1 |
| USAA | 83 | 99 | 100 | 91% | A++ | 94.1 |
| Mercury Insurance | 97 | 96 | 88 | 89% | A+ | 93.4 |
| AAA Insurance | 91 | 95 | 92 | 90% | A | 93.3 |
| Nationwide | 85 | 95 | 97 | 89% | A+ | 92.4 |
| Allstate | 77 | 100 | 97 | 88% | A+ | 90.7 |
| State Farm | 80 | 94 | 96 | 88% | A++ | 90.6 |
| The Hartford | 88 | 93 | 91 | 87% | A+ | 90.4 |
| Safeco Insurance | 91 | 95 | 85 | 88% | A | 90.2 |
| Progressive | 88 | 94 | 83 | 88% | A+ | 90.1 |
| American Family | 91 | 86 | 95 | 83% | A | 89.7 |
| Esurance | 86 | 90 | 94 | 90% | A+ | 89.5 |
| The General | 86 | 93 | 89 | 84% | A- | 88.2 |
| GEICO | 79 | 89 | 95 | 87% | A++ | 87.8 |
| Titan Insurance | 86 | 82 | 92 | 86% | A+ | 86.5 |
| 21st Century | 86 | 82 | 90 | 84% | A | 86.4 |
| Liberty Mutual | 79 | 87 | 95 | 78% | A | 85.3 |
| Farmers Insurance | 77 | 80 | 80 | 84% | A | 80.3 |
| Compare Rates Now Go | ||||||
Data Source: Insure.com Best Car Insurance Companies
More quotes mean more car insurance savings
When shopping online for car insurance, it’s very important that you do not reduce coverage to reduce premium. There have been many cases where drivers have reduced uninsured motorist or liability limits and found out when filing a claim that saving that couple of dollars actually costed them tens of thousands. Your aim should be to purchase plenty of coverage at a price you can afford, but don’t skip important coverages to save money.
You just read some good ideas how to reduce Chevy Corvette insurance prices online in Lubbock. The key concept to understand is the more times you quote, the better chance you’ll have of finding inexpensive Lubbock car insurance quotes. Drivers may even discover the best prices are with a small mutual company.
Cheap Chevy Corvette insurance in Lubbock is definitely available both online in addition to many Lubbock insurance agents, and you should compare price quotes from both to have the best selection. A few companies may not provide rate quotes online and most of the time these smaller providers only sell through independent insurance agents.
For more information, link through to the articles below:
- Information for Teen Drivers (GEICO)
- Who Has the Cheapest Lubbock Auto Insurance for Single Moms? (FAQ)
- What Insurance is Cheapest for Seniors in Lubbock? (FAQ)
- Who Has the Cheapest Lubbock Auto Insurance Quotes with Multiple Speeding Tickets? (FAQ)
- Who Has Affordable Auto Insurance for Electric Cars in Lubbock? (FAQ)
- Vehicle Size and Weight FAQ (iihs.org)
- Understanding your Policy (NAIC.org)
- Older Driver Statistics (Insurance Information Institute)