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.

U.S. average insurance prices for a Chevrolet Corvette are $1,790 every 12 months for full coverage insurance. Comprehensive costs an estimated $494 each year, collision costs $922, and liability is estimated at $264. Buying just liability costs approximately $312 a year, with insurance for high-risk drivers costing around $3,870. Teenage drivers pay the highest rates at $6,090 a year or more.

Average premium for full coverage: $1,790

Price estimates broken down by individual coverage:

Prices include $500 deductible amounts, liability limits of 30/60, and includes both medical and UM/UIM coverage. Estimates are averaged for all 50 states and Corvette models.

Price Range from Low to High

Geographic Price Range

Living in a larger city can make a big difference on the price of insurance. More rural locations have more infrequent physical damage claims than densely populated cities.

The graphic below illustrates the effect of geographic area on insurance prices.

The ranges above illustrate why all drivers should get quotes for a targeted area and their own driving history, instead of making a decision based on average rates.

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

Rate Comparisons

The chart below illustrates estimated Chevrolet Corvette insurance rates for other coverage scenarios.

• The best discount rate is $977
• Choosing higher $1,000 deductibles can save approximately $320 each year
• The average price for the average middle-age driver who has $500 deductibles is $1,790
• Using low deductibles for comp and collision coverage increases the price to $2,418
• Higher-risk drivers who are prone to accidents and violations could pay up to $3,870 or more
• The price to insure a 16-year-old driver can cost as much as $6,090 each year

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Insurance prices for a Chevrolet Corvette are also quite variable based on deductibles and policy limits, your risk profile, and the model year and trim level.

Using high physical damage deductibles can save as much as $950 annually, whereas increasing liability limits will increase premiums. Switching from a 50/100 liability limit to a 250/500 limit will increase prices by as much as $237 more each year. View Rates by Deductible or Liability Limit

More mature drivers with no violations or accidents and higher deductibles may pay as low as $1,600 annually on average for full coverage. Prices are much higher for teenage drivers, since even excellent drivers should be prepared to pay at least $6,000 a year. View Rates by Age

If you have some driving violations or you were responsible for an accident, you are probably paying $2,100 to $2,800 additional each year, depending on your age. Insurance for high-risk drivers ranges from 46% to 132% more than a normal policy. View High Risk Driver Rates

The state you live in plays a big part in determining prices for Chevrolet Corvette insurance prices. A good driver about age 40 could pay as low as $1,170 a year in states like North Carolina, Wisconsin, and Vermont, or be forced to pay as much as $2,410 on average in Florida, New York, and Michigan.

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Since prices can be so different, the only way to figure out which car insurance is cheapest is to do a rate comparison from multiple companies. Each auto insurer uses a different method to calculate prices, and prices may be quite different.

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 Shop for the Right Chevrolet Corvette Insurance

Getting lower rates on insurance for a Chevrolet Corvette takes having a good driving record, having above-average credit, not filing small claims, and maximizing policy discounts. Take the time to compare rates once a year by getting quotes from direct insurance companies like Progressive, GEICO, and Esurance, and also from insurance agencies where you live.

The next list is a quick rundown of the data that was covered in the above illustrations.

• It is possible to save approximately $230 per year simply by quoting online in advance
• Insureds who want increased levels of liability coverage will pay an extra $290 annually to raise limits from a low limit to a 250/500 level
• Drivers age 20 and younger are expensive to insure, as much as $508 a month if full coverage is included
• Drivers considered higher risk with reckless driving or DUI convictions could be forced to pay on average $2,080 more annually to buy Chevrolet Corvette insurance

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