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 on average $494 a year, collision insurance costs $922, and liability costs around $264. Buying just liability costs as low as $312 a year, and insurance for high-risk drivers costs around $3,870. Teenage drivers pay the highest rates at up to $6,090 a year.

Average premium for full coverage: $1,790

Price estimates by individual coverage:

Prices include $500 comprehensive and collision deductibles, 30/60 liability coverage, and includes additional medical/uninsured motorist coverage. Estimates are averaged for all 50 states and Corvette trim levels.

Price Range from Low to High

Geographic Price Range

Where you live can make a big difference on insurance rates. Rural areas have more infrequent physical damage claims than densely populated cities. The diagram below illustrates how location helps determine car insurance rates.

The ranges above illustrate why it is important to compare prices based on a specific location 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.

Additional Rate Analysis

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

• The best discount rate is $977
• Using higher $1,000 deductibles will save around $1,470 each year
• The average price for the average middle-age driver with $500 deductibles is $1,790
• Using low $100 deductibles for physical damage coverage increases the price to $2,418
• High-risk insureds who are prone to accidents and violations could pay upwards of $3,870
• The price to insure a 16-year-old driver may cost $6,090 or more

View Chart as Image

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

Using high physical damage deductibles could cut prices by as much as $950 annually, while buying higher liability limits will cost you more. 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

Older drivers with no violations or accidents and higher deductibles may pay as low as $1,600 a year for full coverage. Prices are much higher for teenage drivers, since even excellent drivers should be prepared to pay upwards of $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 at a minimum $2,100 to $2,800 additional each year, depending on your age. A high-risk auto insurance policy can be from 46% to 132% more than a normal policy. View High Risk Driver Rates

The state you live in has a huge impact on Chevrolet Corvette insurance prices. A driver around age 40 might see prices as low as $1,170 a year in states like Vermont, Wisconsin, and North Carolina, or be forced to pay as much as $2,410 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 Shop for the Right Chevrolet Corvette Insurance

Getting lower rates on insurance for a Chevrolet Corvette requires having a decent driving record, having above-average credit, not filing small claims, and dropping full coverage on older vehicles. Invest time comparing rates every year by getting rate quotes from direct insurance companies like Progressive, GEICO, and Esurance, and also from several local insurance agents.

The following items are a quick rundown of the coverage data covered in the charts and tables above.

• It is possible to save as much as $230 per year just by quoting early and online
• Increasing physical damage deductibles could save as much as $950 each year
• 16 to 18-year-old drivers pay higher prices, as much as $508 a month if full coverage is included
• Drivers considered higher risk with reckless driving or DUI convictions pay on average $2,080 more each year than a driver with a clean driving record

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