Chevrolet Corvette Insurance Rates
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UPDATED: Mar 15, 2023
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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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Estimated auto insurance rates for a Chevrolet Corvette are $1,762 annually for full coverage insurance. Comprehensive insurance costs on average $478 each year, collision costs $900, and liability insurance is estimated at $274. A policy with only liability insurance costs approximately $322 a year, with a high-risk policy costing $3,816 or more. Teens pay the most at $6,030 a year or more.
Average premium for full coverage: $1,762
Premium estimates by type of coverage:
Estimates include $500 physical damage deductibles, 30/60 liability limits, and includes uninsured motorist and medical coverage. Rates include averaging for all 50 states and Corvette models.
Insurance Price Range by Risk and Coverage
For a 40-year-old driver, insurance rates for a Chevrolet Corvette go from as cheap as $322 for the bare minimum liability coverage to a high rate of $3,816 for a driver required to buy high-risk insurance.
Insurance Price Range by Location
Living in a larger city has a significant impact on insurance rates. Rural areas are statistically proven to have fewer physical damage claims than cities with more traffic congestion.
The graphic below illustrates how your location can change car insurance rates.
These rate differences illustrate why all drivers should get quotes based on a specific location and their own personal driving habits, rather than relying on averaged prices.
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.
Additional Rate Information
The chart below illustrates estimated Chevrolet Corvette insurance rates for different risk profiles and scenarios.
- The cheapest rate after discounts is $963
- Choosing higher $1,000 deductibles can save around $312 each year
- The estimated rate for a 40-year-old good driver with $500 deductibles is $1,762
- Selecting low deductibles for comp and collision coverage costs an additional $608 a year
- High-risk insureds with serious driving violations could pay upwards of $3,816 or more
- An auto insurance policy with full coverage for a teen driver may cost $6,030 each year
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.
More mature drivers with no driving violations and high physical damage deductibles could pay as little as $1,600 annually on average, or $133 per month, for full coverage. Prices are much higher for drivers in their teens, where even without any violations or accidents they will be charged upwards of $6,000 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. Insurance for high-risk drivers ranges anywhere from 46% to 134% more than the average policy. View High Risk Driver Rates
Choosing higher comprehensive and collision insurance deductibles can save as much as $920 each year, whereas increasing liability limits will cost you more. Switching from a 50/100 bodily injury limit to a 250/500 limit will cost up to $246 extra every 12 months. View Rates by Deductible or Liability Limit
Where you choose to live plays a big part in determining prices for Chevrolet Corvette insurance rates. A good driver about age 40 could pay as low as $1,150 a year in states like Vermont, Wisconsin, and North Carolina, or have to pay at least $2,380 on average in Michigan, New York, and Florida.
| State | Premium | Compared to U.S. Avg | Percent Difference |
|---|---|---|---|
| Alabama | $1,594 | -$168 | -9.5% |
| Alaska | $1,350 | -$412 | -23.4% |
| Arizona | $1,464 | -$298 | -16.9% |
| Arkansas | $1,762 | -$0 | 0.0% |
| California | $2,008 | $246 | 14.0% |
| Colorado | $1,682 | -$80 | -4.5% |
| Connecticut | $1,810 | $48 | 2.7% |
| Delaware | $1,992 | $230 | 13.1% |
| Florida | $2,204 | $442 | 25.1% |
| Georgia | $1,630 | -$132 | -7.5% |
| Hawaii | $1,268 | -$494 | -28.0% |
| Idaho | $1,194 | -$568 | -32.2% |
| Illinois | $1,314 | -$448 | -25.4% |
| Indiana | $1,328 | -$434 | -24.6% |
| Iowa | $1,190 | -$572 | -32.5% |
| Kansas | $1,672 | -$90 | -5.1% |
| Kentucky | $2,402 | $640 | 36.3% |
| Louisiana | $2,610 | $848 | 48.1% |
| Maine | $1,086 | -$676 | -38.4% |
| Maryland | $1,452 | -$310 | -17.6% |
| Massachusetts | $1,408 | -$354 | -20.1% |
| Michigan | $3,062 | $1,300 | 73.8% |
| Minnesota | $1,476 | -$286 | -16.2% |
| Mississippi | $2,110 | $348 | 19.8% |
| Missouri | $1,564 | -$198 | -11.2% |
| Montana | $1,896 | $134 | 7.6% |
| Nebraska | $1,388 | -$374 | -21.2% |
| Nevada | $2,114 | $352 | 20.0% |
| New Hampshire | $1,270 | -$492 | -27.9% |
| New Jersey | $1,968 | $206 | 11.7% |
| New Mexico | $1,562 | -$200 | -11.4% |
| New York | $1,858 | $96 | 5.4% |
| North Carolina | $1,014 | -$748 | -42.5% |
| North Dakota | $1,442 | -$320 | -18.2% |
| Ohio | $1,218 | -$544 | -30.9% |
| Oklahoma | $1,808 | $46 | 2.6% |
| Oregon | $1,618 | -$144 | -8.2% |
| Pennsylvania | $1,680 | -$82 | -4.7% |
| Rhode Island | $2,350 | $588 | 33.4% |
| South Carolina | $1,596 | -$166 | -9.4% |
| South Dakota | $1,488 | -$274 | -15.6% |
| Tennessee | $1,542 | -$220 | -12.5% |
| Texas | $2,122 | $360 | 20.4% |
| Utah | $1,306 | -$456 | -25.9% |
| Vermont | $1,204 | -$558 | -31.7% |
| Virginia | $1,056 | -$706 | -40.1% |
| Washington | $1,358 | -$404 | -22.9% |
| West Virginia | $1,618 | -$144 | -8.2% |
| Wisconsin | $1,220 | -$542 | -30.8% |
| Wyoming | $1,568 | -$194 | -11.0% |
With such a large range in prices, the only way to figure out exactly what you will pay is to do a rate comparison from as many companies as possible. Each auto insurer calculates prices differently, so rate quotes will be substantially different between companies.
Insurance Rates by Trim Level and Model Year
| Model and Trim | Annual Premium | Monthly Premium |
|---|---|---|
| Chevrolet Corvette 2-Dr Coupe | $1,464 | $122 |
| Chevrolet Corvette GS 2-Dr Coupe | $1,628 | $136 |
| Chevrolet Corvette 2-Dr Convertible | $1,774 | $148 |
| Chevrolet Corvette GS 2-Dr Convertible | $1,856 | $155 |
| Chevrolet Corvette Z06 2-Dr Coupe | $1,792 | $149 |
| Chevrolet Corvette ZR1 2-Dr Coupe | $2,298 | $192 |
Rates assume 2020 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 |
|---|---|---|---|---|
| 2020 Chevrolet Corvette | $478 | $900 | $274 | $1,762 |
| 2018 Chevrolet Corvette | $436 | $832 | $292 | $1,670 |
| 2017 Chevrolet Corvette | $420 | $772 | $298 | $1,600 |
| 2016 Chevrolet Corvette | $402 | $728 | $300 | $1,540 |
| 2015 Chevrolet Corvette | $386 | $652 | $304 | $1,452 |
| 2014 Chevrolet Corvette | $360 | $600 | $304 | $1,374 |
| 2013 Chevrolet Corvette | $348 | $562 | $306 | $1,326 |
| 2012 Chevrolet Corvette | $340 | $526 | $312 | $1,288 |
| 2011 Chevrolet Corvette | $314 | $488 | $312 | $1,224 |
| 2009 Chevrolet Corvette | $286 | $406 | $312 | $1,114 |
| 2008 Chevrolet Corvette | $268 | $368 | $312 | $1,058 |
| 2007 Chevrolet Corvette | $260 | $330 | $310 | $1,010 |
| 2006 Chevrolet Corvette | $256 | $322 | $304 | $992 |
| 2005 Chevrolet Corvette | $252 | $308 | $298 | $968 |
| 2004 Chevrolet Corvette | $230 | $292 | $294 | $926 |
| 2003 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 Buy Low Cost Chevrolet Corvette Insurance
Finding better rates on Chevrolet Corvette insurance takes being a safe and courteous driver, having a good credit score, paying for small claims out-of-pocket, and maximizing policy discounts. Invest the time to shop around at every policy renewal by getting quotes from direct insurance companies, and also from local exclusive and independent agents.
Below is a review of the data illustrated above.
- Drivers who require higher levels of liability will pay approximately $300 annually to raise limits from 30/60 bodily injury limits to higher 250/500 limits
- It is possible to save as much as $230 per year simply by quoting online in advance
- Increasing policy deductibles could save up to $925 each year
- Teenage drivers are expensive to insure, with premiums being up to $503 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.
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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 | $6,030 |
| 20 | $4,048 |
| 30 | $1,878 |
| 40 | $1,762 |
| 50 | $1,602 |
| 60 | $1,572 |
Full coverage, $500 deductibles
Rates by Deductible
| Deductible | Premium |
|---|---|
| $100 | $2,370 |
| $250 | $2,088 |
| $500 | $1,762 |
| $1,000 | $1,450 |
Full coverage, driver age 40
Rates by Liability Limit
| Liability Limit | Premium |
|---|---|
| 30/60 | $1,762 |
| 50/100 | $2,353 |
| 100/300 | $2,421 |
| 250/500 | $2,599 |
| 100 CSL | $2,380 |
| 300 CSL | $2,531 |
| 500 CSL | $2,641 |
Full coverage, driver age 40
Rates for High Risk Drivers
| Age | Premium |
|---|---|
| 16 | $8,736 |
| 20 | $6,444 |
| 30 | $3,944 |
| 40 | $3,816 |
| 50 | $3,634 |
| 60 | $3,602 |
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 | $99 |
| Multi-vehicle | $90 |
| Homeowner | $22 |
| 5-yr Accident Free | $148 |
| 5-yr Claim Free | $118 |
| Paid in Full/EFT | $95 |
| Advance Quote | $95 |
| Online Quote | $132 |
| Total Discounts | $799 |
Discounts are estimated and may not be available from every company or in every state.
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