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.

The average insurance rates for a Chevrolet Corvette are $1,718 a year including full coverage. Comprehensive insurance costs around $462, collision insurance costs $862, and liability costs around $284. Liability-only coverage costs as low as $328 a year, and high-risk coverage costs $3,718 or more. Teenage drivers cost the most to insure at up to $5,902 a year.

Average premium for full coverage: $1,718

Policy rates for type of insurance:

Full coverage includes $500 policy deductibles, 30/60 liability coverage, and includes UM/UIM and medical coverage. Prices are averaged for all 50 U.S. states and for different Corvette trim levels.

Price Range Variability

Urban vs. Rural Price Range

Where you live can have significant affects on the price of insurance. Areas with sparse population are shown to have lower incidents of comprehensive and collision claims than densely populated cities. The price range example below illustrates the difference location can make on auto insurance rates.

The examples above highlight why anyone shopping for car insurance should compare prices for a specific zip code, instead of using average rates.

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

Rates by State, City, and Model

The chart below breaks down average Chevrolet Corvette insurance rates for additional coverage choices and driver risks.

• The best discount rate is $942
• Using higher $1,000 deductibles will save about $300 every year
• The estimated price for a good driver age 40 using $500 deductibles is $1,718
• Using more expensive low deductibles for physical damage coverage will cost an additional $586 every year
• Drivers who are prone to accidents and violations could pay at least $3,718
• Policy cost that insures a teen driver with full coverage can be $5,902 or more

View Chart as Image

Insurance rates for a Chevrolet Corvette also range considerably based on the model year and trim level, your driving record and age, and deductibles and policy limits.

If you have a few points on your driving record or you caused an accident, you are likely paying at least $2,000 to $2,700 additional every year, depending on your age. High-risk driver insurance can be as much as 46% to 131% more than a normal policy. View High Risk Driver Rates

An older driver with no violations or accidents and higher comprehensive and collision deductibles may pay as little as $1,600 a year, or $133 per month, for full coverage. Rates are much higher for teenagers, since even teens with perfect driving records should be prepared to pay as much as $5,900 a year. View Rates by Age

Your home state has a huge impact on Chevrolet Corvette insurance prices. A driver around age 40 might see rates as low as $1,320 a year in states like Missouri, New Hampshire, and Vermont, or be forced to pay as much as $2,450 on average in Michigan, New York, and Louisiana.

View Chart as Image

Using high physical damage deductibles could cut rates by as much as $890 every year, while increasing your policy's liability limits will increase rates. Changing from a 50/100 bodily injury protection limit to a 250/500 limit will raise rates by up to $255 more each year. View Rates by Deductible or Liability Limit

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 More Affordable Chevrolet Corvette Insurance

Finding cheaper rates on car insurance requires being a good driver, having a good credit score, paying for small claims out-of-pocket, and deciding if full coverage is necessary. Compare prices every year by getting quotes from direct car insurance companies, and also from local insurance agencies.

The following list is a summary of the coverage data touched on in this article.

• You may be able to save up to $220 per year just by shopping early and online
• Increasing comprehensive and collision deductibles can save approximately $875 each year
• Drivers age 16 to 20 are charged the highest rates, with premiums being up to $492 each month if comprehensive and collision insurance is included
• Higher risk drivers who have multiple accidents or major violations may have to pay on average $2,000 more every year than a safer driver

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