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 $1,790 a year for full coverage. Comprehensive costs around $494 a year, collision insurance costs $922, and liability costs around $264. Liability-only insurance costs as low as $312 a year, and high-risk driver insurance costs around $3,870. Teen drivers cost the most to insure at up to $6,090 a year.

Average premium for full coverage: $1,790

Policy rates for type of insurance:

Prices include $500 physical damage deductibles, 30/60 bodily injury liability limits, and includes both medical and UM/UIM coverage. Prices are averaged for all states and Corvette trim levels.

Price Range Variability

Urban vs. Rural Price Range

Where you live can have significant affects on auto insurance rates. Areas with sparse population are shown to have lower incidents of accident claims than larger metro areas. The diagram below illustrates the effect of geographic area on auto insurance rates.

The examples above show why it is important to compare prices for a specific zip code, instead of using price averages.

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

Rate Comparisons

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

• The lowest rate with discounts is $977
• Using higher $1,000 deductibles will save about $1,470 a year
• The estimated price for a good driver age 40 using $500 deductibles is $1,790
• Choosing low $100 deductibles for physical damage coverage bumps up the cost to $2,418
• Drivers with multiple violations and an at-fault accident could pay at least $3,870
• Policy cost that insures a teen driver can be $6,090 or more

View Chart as Image

Auto insurance rates for a Chevrolet Corvette also range considerably based on the trim level of your Corvette, how you drive, and deductibles and policy limits.

If you have a few points on your driving record or you caused an accident, you could be paying at least $2,100 to $2,800 in extra premium every year, depending on your age. A high-risk auto insurance policy can be as much as 46% to 132% more than average. View High Risk Driver Rates

Older drivers with a good driving record and higher comprehensive and collision deductibles may pay as little as $1,600 a year, or $133 per month, for full coverage. Rates are highest for teenagers, since even teens with perfect driving records will have to pay as much as $6,000 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 $1,180 a year in states like Idaho, Maine, and Iowa, or as much as $2,550 on average in Michigan, Louisiana, and New York.

View Chart as Image

Choosing high deductibles could cut rates by as much as $950 every year, while buying higher liability limits will increase rates. Going from a 50/100 bodily injury protection limit to a 250/500 limit will raise rates by up to $237 extra every year. View Rates by Deductible or Liability Limit

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 Find the Right Chevrolet Corvette Insurance

Finding cheaper rates on car insurance requires being a safe and courteous driver, maintaining a good credit score, avoid buying unnecessary coverage, and possibly raising deductibles. Shop around at every other renewal by requesting rates from direct carriers, and also from several local insurance agents.

Below is a quick rundown of the concepts that were covered in the above illustrations.

• Higher risk drivers with reckless driving or DUI convictions pay on average $2,080 more every year for auto insurance
• Teenage drivers are expensive to insure, costing up to $508 each month if the policy includes full coverage
• Drivers can save up to $230 per year just by quoting early and online
• Increasing comprehensive and collision deductibles can save approximately $950 each year
• Drivers can save up to $230 per year just by quoting 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