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 prices for a Chevrolet Corvette are $1,790 every 12 months including full coverage. Comprehensive costs on average $494, collision costs $922, and liability coverage is $264. Buying just liability costs around $312 a year, with insurance for high-risk drivers costing around $3,870. Teenage drivers cost the most to insure at $6,090 a year or more.

Average premium for full coverage: $1,790

Policy rates by type of insurance:

Includes $500 physical damage deductibles, 30/60 bodily injury liability limits, and includes medical and UM/UIM 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 has a large influence on car insurance rates. Rural areas are shown to have more infrequent comprehensive and collision claims than densely populated cities.

The price range example below illustrates the difference between rural and urban areas on car insurance rates.

The examples above highlight why anyone shopping for car insurance should compare rates quotes based on a specific location and their own driving history, rather than using average rates.

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

More Rate Details

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

• The best discount rate is $977
• Raising to $1,000 deductibles will save around $320 every year
• The average price for a good driver age 40 with $500 deductibles is $1,790
• Using more expensive low deductibles increases the price to $2,418
• Unlucky drivers who are prone to accidents and violations could pay upwards of $3,870 or more
• Policy cost to insure a teenage driver with full coverage may cost $6,090

View Chart as Image

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

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

An older driver with a clean driving record and higher deductibles may only pay around $1,600 every 12 months on average, or $133 per month, for full coverage. Rates are much higher for teenagers, since even excellent drivers can expect to pay upwards of $6,000 a year. View Rates by Age

If you have a few points on your driving record or you were responsible for an accident, you are likely paying at a minimum $2,100 to $2,800 extra every year, depending on your age. High-risk driver insurance is expensive and can cost around 46% to 132% more than a normal policy. View High Risk Driver Rates

Your home state also has a big influence on Chevrolet Corvette insurance rates. A middle-age driver might find rates as low as $1,370 a year in states like Missouri, New Hampshire, and Vermont, or be forced to pay 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 exactly what you will pay is to compare rates and see how they stack up. Every auto insurance company uses a different method to calculate rates, so the rates will be varied.

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 Cheapest Chevrolet Corvette Insurance

Finding cheaper rates on auto insurance consists of being a safe and courteous driver, having good credit, paying for small claims out-of-pocket, and bundling your home and auto policies. Set aside time to compare rates at every other renewal by quoting rates from direct car insurance companies, and also from your local independent and exclusive agents.

Below is a recap of the concepts that were covered above.

• Drivers that have major violations or accidents may pay on average $2,080 more each year for auto insurance
• Teenage drivers pay the highest rates, with premiums being up to $508 each month if they have full coverage
• You may be able to save as much as $230 per year simply by shopping early and online
• Increasing comprehensive and collision deductibles could save as much as $950 each year
• You may be able to save as much as $230 per year simply by shopping early and online

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