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 rates for a Chevrolet Corvette are $1,718 a year including full coverage. Comprehensive insurance costs on average $462 each year, collision costs $862, and liability coverage is $284. Liability-only insurance costs around $328 a year, with high-risk driver insurance costing $3,718 or more. Teens pay the highest rates at $5,902 a year or more.

Average premium for full coverage: $1,718

Price estimates by individual coverage:

Includes $500 comprehensive and collision deductibles, 30/60 split liability limits, and includes medical/PIP and uninsured motorist coverage. Estimates are averaged for all 50 U.S. states and Corvette models.

Price Range from Low to High

Geographic Price Range

Choosing to live in a large city has a large influence on car insurance rates. Rural areas have lower incidents of comprehensive and collision claims than cities with more traffic congestion.

The graphic below illustrates how your location can change car insurance rates.

The ranges above highlight why all drivers should compare rates quotes based on a specific location, rather than using averaged prices.

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

Additional Charts and Tables

The chart below breaks down estimated Chevrolet Corvette insurance rates for different risk profiles and scenarios.

• The cheapest rate after discounts is $942
• Raising to $1,000 deductibles will save around $300 every year
• The estimated price for the average middle-age driver with $500 deductibles is $1,718
• Selecting low deductibles will cost an additional $586 each year
• Unlucky drivers with serious driving violations could pay upwards of $3,718 or more
• The price that insures a teenage driver may cost $5,902

View Chart as Image

Car insurance prices for a Chevrolet Corvette are also quite variable based on the trim level and model year, your driving record and age, and policy deductibles and limits.

If you have some driving violations or you caused an accident, you are likely paying at a minimum $2,000 to $2,700 extra each year, depending on your age. Insurance for high-risk drivers is expensive and can cost around 46% to 131% more than the average policy. View High Risk Driver Rates

More mature drivers with no driving violations and higher comprehensive and collision deductibles may only pay around $1,600 every 12 months on average for full coverage. Prices are much higher for teenage drivers, since even teens with perfect driving records will be charged upwards of $5,900 a year. View Rates by Age

The state you live in also has a big influence on Chevrolet Corvette insurance rates. A middle-age driver might find prices as low as $1,320 a year in states like Missouri, New Hampshire, and Vermont, or have to pay at least $2,450 on average in Michigan, New York, and Louisiana.

View Chart as Image

Choosing higher comprehensive and collision insurance deductibles can reduce prices by up to $890 a year, whereas increasing liability limits will cost you more. Changing from a 50/100 bodily injury protection limit to a 250/500 limit will increase prices by as much as $255 extra every 12 months. View Rates by Deductible or Liability Limit

Since prices can be so different, the best way to figure out exactly what you will pay is to do a rate comparison and see how they stack up. Every auto insurance company calculates prices differently, so rate quotes may be quite different.

Insurance Rates by Trim Level and Model Year

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.

How to Find the Cheapest Chevrolet Corvette Insurance

Getting lower rates on auto insurance consists of having a decent driving record, having a positive credit history, being claim-free, and maximizing policy discounts. Compare rates at least every other year by getting quotes from direct car insurance companies, and also from insurance agencies where you live.

The following items are a recap of the car insurance concepts illustrated above.

• Drivers that have major violations or accidents could be forced to pay on average $2,000 more each year than a driver with a clean driving record
• You may be able to save as much as $220 per year simply by quoting online in advance
• Increasing physical damage deductibles can save approximately $875 each year
• Consumers who require additional liability coverage will pay approximately $310 per year to raise from a low limit to the 250/500 level

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