Chevrolet Corvette Insurance Rates
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UPDATED: Apr 4, 2024
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Are Corvettes expensive to insure? Corvettes can be more expensive to insure than most vehicles. Exactly how much is Corvette insurance from major insurers? The average insurance cost for a Corvette is $1,864 a year, or $155 a month. Read on to learn how to find the cheapest Chevrolet Corvette insurance rates.
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U.S. average insurance rates for a Chevrolet Corvette are $1,814 a year with full coverage. Comprehensive insurance costs on average $516, collision costs $930, and liability insurance is estimated at $258. A policy with just liability insurance costs approximately $306 a year, with coverage for high-risk drivers costing $3,910 or more. 16-year-old drivers pay the highest rates at $6,122 a year or more.
Average premium for full coverage: $1,814
Price estimates by individual coverage:
Prices include $500 deductible amounts, 30/60 bodily injury liability limits, and includes uninsured/under-insured motorist coverage. Estimates are averaged for all U.S. states and for different Corvette trim levels.
Price Range from Low to High
For the normal driver, Chevrolet Corvette insurance prices go from as low as $306 for your basic liability-only policy to a much higher rate of $3,910 for a driver who requires high-risk insurance.
Geographic Price Range
Living in a larger city has a significant impact on auto insurance rates. Rural areas have a lower frequency of collision claims than congested cities.
The price range example below illustrates how geographic area affects car insurance rates.
The ranges above demonstrate why anyone shopping for car insurance should get quotes based on a specific location and risk profile, rather than relying on rate averages.
Use the form below to get customized rates for your location.
Enter your zip code below to view companies based on your location that have cheap auto insurance rates.
More Rate Information
The chart below details estimated Chevrolet Corvette insurance rates for different risk profiles and scenarios.
- The best full coverage rate is $994
- Choosing higher $1,000 deductibles can save around $328 annually
- The average rate for the average middle-age driver with $500 deductibles is $1,814
- Buying more expensive low deductibles for comp and collision coverage will cost an extra $638 a year
- High-risk insureds with multiple tickets or accidents could pay upwards of $3,910 or more
- The price for full coverage for a teen driver with full coverage may cost $6,122 each year
Insurance prices for a Chevrolet Corvette are also quite variable based on your driving record, the trim level and model year, and policy deductibles and limits.
An older driver with a clean driving record and high deductibles could pay as little as $1,700 annually on average for full coverage. Prices are highest for teenage drivers, where even good drivers can expect to pay upwards of $6,100 a year. View Rates by Age
The state you live in plays a big part in determining prices for Chevrolet Corvette insurance rates. A good driver about age 40 could pay as low as $1,310 a year in states like New Hampshire, Ohio, and Utah, or at least $2,440 on average in Florida, Michigan, and New York.
State | Premium | Compared to U.S. Avg | Percent Difference |
---|---|---|---|
Alabama | $1,638 | -$176 | -9.7% |
Alaska | $1,392 | -$422 | -23.3% |
Arizona | $1,506 | -$308 | -17.0% |
Arkansas | $1,814 | -$0 | 0.0% |
California | $2,066 | $252 | 13.9% |
Colorado | $1,730 | -$84 | -4.6% |
Connecticut | $1,862 | $48 | 2.6% |
Delaware | $2,052 | $238 | 13.1% |
Florida | $2,264 | $450 | 24.8% |
Georgia | $1,676 | -$138 | -7.6% |
Hawaii | $1,302 | -$512 | -28.2% |
Idaho | $1,228 | -$586 | -32.3% |
Illinois | $1,352 | -$462 | -25.5% |
Indiana | $1,366 | -$448 | -24.7% |
Iowa | $1,224 | -$590 | -32.5% |
Kansas | $1,722 | -$92 | -5.1% |
Kentucky | $2,472 | $658 | 36.3% |
Louisiana | $2,684 | $870 | 48.0% |
Maine | $1,116 | -$698 | -38.5% |
Maryland | $1,496 | -$318 | -17.5% |
Massachusetts | $1,448 | -$366 | -20.2% |
Michigan | $3,148 | $1,334 | 73.5% |
Minnesota | $1,518 | -$296 | -16.3% |
Mississippi | $2,172 | $358 | 19.7% |
Missouri | $1,608 | -$206 | -11.4% |
Montana | $1,948 | $134 | 7.4% |
Nebraska | $1,428 | -$386 | -21.3% |
Nevada | $2,174 | $360 | 19.8% |
New Hampshire | $1,308 | -$506 | -27.9% |
New Jersey | $2,026 | $212 | 11.7% |
New Mexico | $1,604 | -$210 | -11.6% |
New York | $1,908 | $94 | 5.2% |
North Carolina | $1,042 | -$772 | -42.6% |
North Dakota | $1,484 | -$330 | -18.2% |
Ohio | $1,252 | -$562 | -31.0% |
Oklahoma | $1,860 | $46 | 2.5% |
Oregon | $1,662 | -$152 | -8.4% |
Pennsylvania | $1,730 | -$84 | -4.6% |
Rhode Island | $2,418 | $604 | 33.3% |
South Carolina | $1,642 | -$172 | -9.5% |
South Dakota | $1,532 | -$282 | -15.5% |
Tennessee | $1,588 | -$226 | -12.5% |
Texas | $2,182 | $368 | 20.3% |
Utah | $1,342 | -$472 | -26.0% |
Vermont | $1,238 | -$576 | -31.8% |
Virginia | $1,088 | -$726 | -40.0% |
Washington | $1,398 | -$416 | -22.9% |
West Virginia | $1,664 | -$150 | -8.3% |
Wisconsin | $1,254 | -$560 | -30.9% |
Wyoming | $1,614 | -$200 | -11.0% |
Opting for high physical damage deductibles can save as much as $970 each year, while increasing your policy's liability limits will cost you more. Moving from a 50/100 limit to a 250/500 limit will increase prices by as much as $232 more per year. View Rates by Deductible or Liability Limit
If you have some driving violations or tend to cause accidents, you may be forking out at a minimum $2,100 to $2,800 extra each year, depending on your age. High-risk driver insurance ranges anywhere from 46% to 130% more than the average rate. View High Risk Driver Rates
Since prices can be so different, the best way to find out exactly what you will pay is to compare prices from as many companies as possible. Each auto insurer utilizes a different rate formula, so the prices may be quite different from one company to the next.
Insurance Rates by Trim Level and Model Year
Model and Trim | Annual Premium | Monthly Premium |
---|---|---|
Chevrolet Corvette 2-Dr Coupe | $1,500 | $125 |
Chevrolet Corvette GS 2-Dr Coupe | $1,672 | $139 |
Chevrolet Corvette 2-Dr Convertible | $1,814 | $151 |
Chevrolet Corvette GS 2-Dr Convertible | $1,900 | $158 |
Chevrolet Corvette Z06 2-Dr Coupe | $1,844 | $154 |
Chevrolet Corvette ZR1 2-Dr Coupe | $2,374 | $198 |
Rates assume 2023 model year, a 40-year-old male driver with no accidents or violations, $500 comprehensive and collision deductibles, minimum liability limits, and uninsured/under-insured motorist coverage included. Rates are for comparison only and are averaged for all 50 U.S. states.
Model Year | Comprehensive | Collision | Liability | Total Premium |
---|---|---|---|---|
2024 Chevrolet Corvette | $540 | $968 | $246 | $1,864 |
2023 Chevrolet Corvette | $516 | $930 | $258 | $1,814 |
2022 Chevrolet Corvette | $494 | $922 | $264 | $1,790 |
2021 Chevrolet Corvette | $478 | $900 | $274 | $1,762 |
2020 Chevrolet Corvette | $462 | $862 | $284 | $1,718 |
2019 Chevrolet Corvette | $436 | $832 | $292 | $1,670 |
2018 Chevrolet Corvette | $420 | $772 | $298 | $1,600 |
2017 Chevrolet Corvette | $402 | $728 | $300 | $1,540 |
2016 Chevrolet Corvette | $386 | $652 | $304 | $1,452 |
2015 Chevrolet Corvette | $360 | $600 | $304 | $1,374 |
2014 Chevrolet Corvette | $348 | $562 | $306 | $1,326 |
2013 Chevrolet Corvette | $340 | $526 | $312 | $1,288 |
2012 Chevrolet Corvette | $314 | $488 | $312 | $1,224 |
2011 Chevrolet Corvette | $306 | $442 | $316 | $1,174 |
2009 Chevrolet Corvette | $268 | $368 | $312 | $1,058 |
2008 Chevrolet Corvette | $260 | $330 | $310 | $1,010 |
2007 Chevrolet Corvette | $256 | $322 | $304 | $992 |
2006 Chevrolet Corvette | $252 | $308 | $298 | $968 |
2005 Chevrolet Corvette | $230 | $292 | $294 | $926 |
2004 Chevrolet Corvette | $222 | $278 | $292 | $902 |
Rates are averaged for all Chevrolet Corvette models and trim levels. Rates assume a 40-year-old male driver, full coverage with $500 deductibles, and a clean driving record.
How to Find the Right Chevrolet Corvette Insurance
Getting lower rates on Chevrolet Corvette insurance takes having a good driving record, maintaining good credit, avoid buying unnecessary coverage, and bundling your home and auto policies. Invest the time to compare rates at every other renewal by quoting rates from direct companies like Progressive and GEICO, and also from local insurance agents.
The next list is a quick rundown of the concepts that were presented in the illustrations above.
- High-risk drivers with reckless driving or DUI convictions may be required to pay an average of $2,100 more each year to buy Chevrolet Corvette insurance
- Drivers age 20 and younger pay the highest prices, costing up to $510 a month for full coverage
- You may be able to save as much as $230 per year simply by shopping early and online
- Increasing physical damage deductibles can save around $975 each year
- You may be able to save as much as $230 per year simply by shopping early and online
How much does it cost to insure a Corvette if you have a poor record? Generally, the cost to insure a Corvette will be at least $500 more if you have a DUI or reckless driving charge. And if you are wondering how much is insurance on a Corvette for a 16 or 18-year-old, it will usually be at least $1,000 more than a normal policy.
The best way to find cheap Corvette average prices is to shop around for a Corvette comparison chart of insurance rates. Whether you are looking for the best Corvette insurance as a 20-year-old or want to find out how much is insurance for a 2019 or 2020 Corvette, shop around to find the best Corvette car insurance price.
It’s important to also know if you need collector car insurance or standard auto insurance. There are different auto insurance companies, and some do both or just one type. Classic car insurance is for an older collector vehicle that needs to be insured a bit different than your standard newer vehicle.
Use our free tool below to shop around for everything from the insurance cost for a Corvette Stingray to Corvette insurance costs for 18-year-olds and 20-year-olds.
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What are the safety ratings of the Chevrolet Corvette?
Chevrolet Corvette safety ratings and features are important when it comes to calculating rates. The safer your car is, the more discounts you will receive. The newest model of the Chevrolet Corvette has some great advanced safety features, such as a rearview camera, a head-up display, and a front curb-view parking camera.
However, the Insurance Institute of Highway Safety (IIHS) has not crash-tested the Chevrolet Corvette. This means that insurance costs will be calculated on overall crash test ratings for sports cars, even if the Chevrolet Corvette is safer than other sports cars.
How does the Chevrolet Corvette compare against other vehicles in the same class?
The Chevrolet Corvette is a midsize, luxury sports car, which usually means it will have higher liability rates because it is more prone to crashing. While 2014 Corvette insurance rates might be different than insurance on a 2020 Corvette because the 2020 model has more safety features that prevent crashes, you can expect rates on luxury sports cars to be higher on all model years.
The good news is that the IIHS found that the Chevrolet Corvette’s liability rates were substantially better than average in comparison to other sports cars. This doesn’t mean you’ll have cheap rates, but your rates will be cheaper than average for sports cars.
If you are curious how the Chevrolet Corvette’s insurance rates compare to other sports cars, take a look at the list below.
Ready to start shopping for Corvette insurance? Whether you want 2019 or 2020 Corvette insurance cost comparisons or a decades-old model quote, enter your ZIP code in our free tool.
References
Rate Tables and Charts
Rates by Driver Age
Driver Age | Premium |
---|---|
16 | $6,122 |
20 | $4,140 |
30 | $1,936 |
40 | $1,814 |
50 | $1,646 |
60 | $1,616 |
Full coverage, $500 deductibles
Rates by Deductible
Deductible | Premium |
---|---|
$100 | $2,452 |
$250 | $2,156 |
$500 | $1,814 |
$1,000 | $1,486 |
Full coverage, driver age 40
Rates by Liability Limit
Liability Limit | Premium |
---|---|
30/60 | $1,814 |
50/100 | $2,426 |
100/300 | $2,490 |
250/500 | $2,658 |
100 CSL | $2,451 |
300 CSL | $2,593 |
500 CSL | $2,697 |
Full coverage, driver age 40
Rates for High Risk Drivers
Age | Premium |
---|---|
16 | $8,876 |
20 | $6,588 |
30 | $4,046 |
40 | $3,910 |
50 | $3,720 |
60 | $3,686 |
Full coverage, $500 deductibles, two speeding tickets, and one at-fault accident
If a financial responsibility filing is required, the additional charge below may also apply.
Potential Rate Discounts
If you qualify for discounts, you may save the amounts shown below.
Discount | Savings |
---|---|
Multi-policy | $102 |
Multi-vehicle | $91 |
Homeowner | $22 |
5-yr Accident Free | $152 |
5-yr Claim Free | $121 |
Paid in Full/EFT | $98 |
Advance Quote | $98 |
Online Quote | $136 |
Total Discounts | $820 |
Discounts are estimated and may not be available from every company or in every state.
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