Chevrolet Corvette Insurance Rates

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.

Enter your ZIP code in our free rate tool above to start comparing Corvette insurance quotes and save on Corvette insurance costs.

Estimated auto insurance rates for a Chevrolet Corvette are $1,814 annually for full coverage insurance. Comprehensive costs on average $516, collision insurance costs $930, and liability costs around $258. A policy with only liability insurance costs as low as $306 a year, and a high-risk policy costs around $3,910. 16-year-old drivers pay the most at up to $6,122 a year.

Average premium for full coverage: $1,814

Premium estimates by type of coverage:

Prices include $500 policy deductibles, 30/60 liability limits, and includes medical and UM/UIM coverage. Rates include averaging for all 50 states and for different Corvette trim levels.

Insurance Price Range by Risk and Coverage

Insurance Price Range by Location

Where you live can have significant affects on insurance rates. Rural areas are statistically proven to have fewer physical damage claims than congested cities. The price range example below illustrates how where you live affects car insurance rates.

These rate differences illustrate why anyone shopping for car insurance should compare prices based on a specific location and their own personal driving habits, instead of using rate averages.

Use the form below to get customized rates for your location.

More Rate Details

The chart below illustrates average Chevrolet Corvette insurance rates for different risk profiles and scenarios.

• The best full coverage rate is $994
• Using higher $1,000 deductibles will save around $328 each year
• The estimated rate for a 40-year-old good driver with $500 deductibles is $1,814
• Buying more expensive low deductibles for physical damage coverage will cost $2,452
• Drivers with multiple tickets or accidents could pay upwards of $3,910
• An auto insurance policy with full coverage for a teen driver with full coverage may cost $6,122 or more

View Chart as Image

Car insurance prices for a Chevrolet Corvette also have a wide range based on the model of your Corvette, your risk profile, and policy deductibles and limits.

An older driver with no driving violations and high physical damage deductibles may pay as little as $1,700 a year, or $142 per month, for full coverage. Prices are highest for drivers in their teens, where even without any violations or accidents they will be charged upwards of $6,100 a year. View Rates by Age

If you have a few violations or you caused a few accidents, you are probably paying at a minimum $2,100 to $2,800 extra annually, depending on your age. High-risk driver insurance can be as much as 46% to 130% more than the average rate. View High Risk Driver Rates

Opting for high physical damage deductibles could cut prices by as much as $970 every year, while increasing your policy's liability limits will cost you more. Switching from a 50/100 bodily injury limit to a 250/500 limit will cost up to $232 extra every 12 months. View Rates by Deductible or Liability Limit

Where you choose to live has a huge impact on Chevrolet Corvette insurance prices. A driver around age 40 might see prices as low as $1,180 a year in states like Vermont, Wisconsin, and North Carolina, or at least $2,440 on average in Michigan, New York, and Florida.

View Chart as Image

Insurance Rates by Trim Level and Model Year

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.

How to Buy the Right Chevrolet Corvette Insurance

Finding better rates on car insurance requires avoiding accidents and claims, having a good credit score, paying for small claims out-of-pocket, and possibly raising deductibles. Take the time to comparison shop at every policy renewal by obtaining price quotes from direct insurance companies, and also from local exclusive and independent agents.

The points below are a quick rundown of the data touched on in the above illustrations.

• Policyholders who require increased liability limits will pay around $280 annually to increase from 30/60 bodily injury limits to higher 250/500 limits
• It is possible to save as much as $230 per year just by shopping early and online
• Increasing policy deductibles could save up to $975 each year
• Drivers under the age of 20 are expensive to insure, with premiums being up to $510 per month if comprehensive and collision insurance is included

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.

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.

• Ford Mustang GT Insurance Rates
• Mercedes-Benz SL Class Insurance Rates
• Nissan 370Z Insurance Rates

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

1. https://www.iihs.org/ratings/insurance-losses-by-make-and-model