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 insurance costs approximately $494, collision insurance costs $922, and liability costs around $264. Liability-only coverage costs as low as $312 a year, and high-risk coverage costs $3,870 or more. 16-year-old drivers cost the most to insure at up to $6,090 a year.

Average premium for full coverage: $1,790

Policy rates by type of insurance:

Rate estimates include $500 comprehensive and collision deductibles, 30/60 liability coverage, 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

Where you live can make a big difference on car insurance prices. Rural locations are shown to have fewer comprehensive and collision claims than congested cities. The price range example below illustrates how rural and urban location affects auto insurance prices.

The examples above highlight why anyone shopping for car insurance should compare prices using their specific location and their own personal driving habits, instead of making a decision based on rate averages.

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

More Rate Details

The chart below breaks down average Chevrolet Corvette insurance rates for additional coverage and risk scenarios.

• The best full coverage rate is $977
• Using higher $1,000 deductibles will save $320 every year
• The estimated rate for a good driver age 40 who chooses $500 deductibles is $1,790
• Buying more expensive low deductibles for physical damage coverage costs an additional $628 annually
• High-risk insureds with multiple tickets or accidents could pay around $3,870
• Policy cost with full coverage for a 16-year-old driver with full coverage can cost $6,090 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 characteristics, and physical damage deductibles and liability limits.

An older driver with no violations or accidents and high physical damage deductibles may pay as low as $1,600 a year, 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 in the ballpark of $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 anywhere from $2,100 to $2,800 additional every year, depending on your age. High-risk driver insurance can be from 46% to 132% more than the average rate. View High Risk Driver Rates

Opting for high physical damage deductibles could cut rates by as much as $950 annually, while increasing your policy's liability limits will push rates upward. Changing from a 50/100 bodily injury limit to a 250/500 limit will raise rates by up to $237 more each year. View Rates by Deductible or Liability Limit

Your home state has a huge impact on Chevrolet Corvette insurance prices. A driver around age 40 might see rates as low as $1,370 a year in states like Vermont, New Hampshire, and Missouri, or at least $2,550 on average in Louisiana, New York, and Michigan.

View Chart as Image

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 the Best Chevrolet Corvette Insurance

Finding cheaper rates on insurance for a Chevrolet Corvette requires avoiding accidents and violations, having good credit, paying for small claims out-of-pocket, and consideration of higher deductibles. Set aside time to shop around every year by requesting quotes from direct car insurance companies like Progressive, GEICO, and Esurance, and also from local insurance agencies.

The list below is a brief recap of the coverage data raised in the charts and tables above.

• You may be able to save around $230 per year just by shopping early and online
• Increasing comprehensive and collision deductibles could save up to $950 each year
• Teenagers are the costliest to insure, with premiums being up to $508 each month if they have full coverage
• Drivers considered higher risk who tend to receive serious violations may have to pay on average $2,080 more per year for car insurance

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