Why You Need Good Corvette Insurance

So you finally decided to get that car of your dreams, the Chevy Corvette. You know the one, the shiny, candy apple red convertible with the white leather interior. You have been dreaming of owning one of these for years. After all, the Corvette has been around for over fifty years.

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Purchasing a Corvette is a major investment. The classics can cost as much as a brand new one, $60000 or more. With this type of investment, cut rate car insurance just will not do. You need specialized insurance, Corvette insurance.

Many of the major insurance companies out there offer insurance for the Corvette. It comes at a price but you need to protect your investment. There are quite a few specialized insurers that offer insurance on just Corvettes or Classic cars.

When you are looking for good Corvette insurance, make sure you get the agreed value of the car, what you think it is worth instead of a standard rate which only gives you book value. This is very important. You do not want the car of your dreams to be underinsured. The car is valuated based on the car’s current condition, the maintenance of the vehicle, and they look at current market values of the same type of car or comparable. Remember, collector and classic cars often appreciate over the year so it is important to choose an insurer that will revaluate your vehicle from time to time.

Most Specialist Corvette insurers offer tailored policies whether it is a new Corvette or a 1953 convertible. Some insurers have eligibility criteria you must meet before you are considered for a policy. Some of the requirements include the age of all drivers to be twenty five or older with a very clean driving record. Some are very strict about minor and major violations and accidents. Some only allow one minor violation within three to five years and no major accidents or violations within seven to ten years. They may require proof that you own another vehicle that you use daily, with standard insurance and you must be the registered owner and you must be the policy holder.

If it is a classic Corvette, it will have to be stored in an enclosed, locked, private garage. Some insurers set limits on the amount of miles that you put on the car and may allow miles to “roll over” from year to year. There are some insurers that do not have the mileage limitations. That may be a factor to help you decide what type of insurance meets your needs.

Specialized Insurers claim to be forty two percent lower in cost than your average premium on your everyday car.

When looking for good Corvette insurance you need to find the coverage you need. Look at discounts offered, and ask yourself if they would be beneficial. Some insurers offer discounts on cars with features such as anti-lock brakes, passive restraint systems that are factory installed and anti-theft devices. Get loads of estimates. You may have to search and research but you want the best policy to suit your needs.