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 $1,718 annually for full coverage. Comprehensive costs an estimated $462 each year, collision costs $862, and liability costs $284. Liability-only coverage costs as little as $328 a year, with high-risk coverage costing around $3,718. Teen drivers cost the most to insure at $5,902 a year or more.

Average premium for full coverage: $1,718

Policy rates broken down by type of insurance:

Rate estimates include $500 physical damage insurance deductibles, liability limits of 30/60, and includes medical and UM/UIM coverage. Prices are averaged for all states and Corvette models.

Price Range Variability

Urban vs. Rural Price Range

Your location can have significant affects on insurance rates. More rural locations are shown to have fewer accident claims than larger metro areas.

The graphic below illustrates how rural and urban location affects insurance prices.

The examples above show why all drivers should compare rates for a targeted area and their own personal driving habits, instead of using price averages.

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

More Rate Details

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

• The lowest rate with discounts is $942
• Drivers who choose higher $1,000 deductibles will pay approximately $300 a year
• The estimated rate for a good driver age 40 who has $500 deductibles is $1,718
• Choosing low deductibles for comprehensive and collision insurance will cost $2,304
• Higher-risk drivers with multiple violations and an at-fault accident could pay up to $3,718 or more
• Policy cost with full coverage for a teen driver can cost as much as $5,902 a year

View Chart as Image

Insurance rates for a Chevrolet Corvette also range considerably based on the model year and trim level, your driver profile, and liability limits and deductibles.

More mature drivers with no violations or accidents and high physical damage deductibles may pay as little as $1,600 per year on average, or $133 per month, for full coverage. Rates are highest for teenagers, where even without any violations or accidents they should be prepared to pay at least $5,900 a year. View Rates by Age

If you have a few points on your driving record or you caused a few accidents, you could be paying $2,000 to $2,700 additional every year, depending on your age. Insurance for high-risk drivers can cost as much as 46% to 131% more than average. View High Risk Driver Rates

Choosing high deductibles could save up to $890 every year, whereas increasing liability limits will increase premiums. Going from a 50/100 bodily injury limit to a 250/500 limit will raise rates by up to $255 more each year. View Rates by Deductible or Liability Limit

Your home state makes a big difference in Chevrolet Corvette insurance prices. A 40-year-old driver could pay as low as $1,130 a year in states like Iowa, Maine, and Idaho, or as much as $2,450 on average in New York, Louisiana, and Michigan.

View Chart as Image

Because rates have so much variability, the only way to know which auto insurance is cheapest is to do a rate comparison and see which company has the best rate. Every company uses a different rate calculation, and rates will be varied between companies.

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 Buy the Best Chevrolet Corvette Insurance

Finding cheaper rates on car insurance not only requires being a low-risk driver, but also having good credit, avoid buying unnecessary coverage, and maximizing policy discounts. Set aside time to shop around once a year by getting quotes from direct carriers like Progressive, GEICO, and Esurance, and also from local exclusive and independent agents.

The items below are a brief recap of the data that was raised in the charts and tables above.

• Drivers can save approximately $220 per year simply by quoting online in advance
• Policyholders who want more liability coverage will pay about $310 each year to go from a 30/60 limit to higher 250/500 limits
• Teen drivers are expensive to insure, costing up to $492 each month if they have full coverage
• Higher risk drivers who tend to receive serious violations may pay on average $2,000 more annually to insure their Corvette

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