Chevrolet Corvette Insurance Rates

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Jeffrey Johnson

Insurance Lawyer

Jeffrey Johnson is a legal writer with a focus on personal injury. He has worked on personal injury and sovereign immunity litigation in addition to experience in family, estate, and criminal law. He earned a J.D. from the University of Baltimore and has worked in legal offices and non-profits in Maryland, Texas, and North Carolina. He has also earned an MFA in screenwriting from Chapman Univer...

Insurance Lawyer

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.

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

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:

Comprehensive $516
Collision $930
Liability $258

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.

Liability Only $306
Full Coverage $1,814
High Risk $3,910

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.

Rural Areas $1,361
Small Cities $1,905
Large Cities $2,449

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

View Chart as Image

Chevrolet Corvette insurance cost comparison chart
Column chart showing full coverage Chevrolet Corvette insurance prices range from $994 to $6,122

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.

Chevrolet Corvette Insurance Rates by State
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%

View Chart as Image

Chevrolet Corvette insurance rates by U.S. city

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

Chevrolet Corvette Insurance Rates by Model and Trim Level
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.

Chevrolet Corvette Insurance Rates by Model Year
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

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

Rates by Driver Age

Chevrolet Corvette Insurance 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

Chevrolet Corvette Insurance Rates with Different Deductibles
Deductible Premium
$100 $2,452
$250 $2,156
$500 $1,814
$1,000 $1,486

Full coverage, driver age 40

Rates by Liability Limit

Chevrolet Corvette Insurance Rates with Different Liability Limits
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

Chevrolet Corvette Insurance 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.

SR-22 Surcharge $257

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
Rate after discounts $994

Discounts are estimated and may not be available from every company or in every state.

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