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 auto insurance rates for a Chevrolet Corvette are $1,790 annually including full coverage. Comprehensive costs around $494, collision costs $922, and liability is $264. Buying just liability costs around $312 a year, with insurance for high-risk drivers costing around $3,870. Teen drivers cost the most to insure at $6,090 a year or more.

Average premium for full coverage: $1,790

Policy rates for type of insurance:

Full coverage includes $500 deductible amounts, 30/60 split liability limits, and includes medical/PIP and uninsured motorist coverage. Prices are averaged for all 50 U.S. states and for different Corvette trim levels.

Price Range Variability

Urban vs. Rural Price Range

Choosing to live in a large city can have significant affects on the price of insurance. Areas with sparse population are shown to have fewer comprehensive and collision claims than larger metro areas.

The price range example below illustrates the effect of geographic area on auto insurance rates.

The examples above highlight why anyone shopping for car insurance should compare rates quotes for a specific zip code and their own personal driving habits, instead of using price averages.

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 additional coverage choices and driver risks.

• The lowest rate with discounts is $977
• Raising to $1,000 deductibles will save about $320 every year
• The estimated rate for a good driver age 40 using $500 deductibles is $1,790
• Choosing more expensive low deductibles will cost $2,418
• At-risk drivers with multiple violations and an at-fault accident could pay at least $3,870 or more
• Policy cost with full coverage for a teen driver with full coverage can be $6,090

View Chart as Image

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

An older driver with a clean driving record and high physical damage deductibles may pay as little as $1,600 every 12 months on average, or $133 per month, for full coverage. Rates are highest for teenagers, where even without any violations or accidents they can expect to pay as much as $6,000 a year. View Rates by Age

If you have a few points on your driving record or you caused a few accidents, you are likely paying at least $2,100 to $2,800 extra every year, depending on your age. High-risk driver insurance is expensive and can cost as much as 46% to 132% more than average. View High Risk Driver Rates

Choosing high deductibles can reduce rates by up to $950 every year, while increasing your policy's liability limits will increase rates. Changing from a 50/100 bodily injury limit to a 250/500 limit will raise rates by up to $237 more per year. View Rates by Deductible or Liability Limit

Your home state also has a big influence on Chevrolet Corvette insurance prices. A middle-age driver might find rates as low as $1,370 a year in states like Missouri, New Hampshire, and Vermont, or as much as $2,550 on average in Michigan, New York, and Louisiana.

View Chart as Image

Because rates have so much variability, the best way to figure out your exact price is to compare rates and see which company has the best rate. Every auto insurance company uses a different rate calculation, so the rates will be varied between companies.

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 Buy More Affordable Chevrolet Corvette Insurance

Finding cheaper rates on car insurance consists of having a good driving record, having a good credit history, paying for small claims out-of-pocket, and insuring your home and auto with the same company. Take the time to compare rates at least every other year by requesting rates from direct car insurance companies like Progressive, GEICO, and Esurance, and also from your local independent and exclusive agents.

The next list is a summary of the car insurance concepts covered in the above illustrations.

• Higher risk drivers who have multiple accidents or major violations may pay on average $2,080 more every year to buy Chevrolet Corvette insurance
• You may be able to save up to $230 per year simply by shopping early and online
• Increasing comprehensive and collision deductibles could save up to $950 each year
• Policyholders who may need increased levels of liability coverage will pay about $290 per year to raise from a 30/60 limit to higher 250/500 limits

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