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.

Average auto insurance rates for a Chevrolet Corvette are $1,762 annually for full coverage. Comprehensive insurance costs an estimated $478, collision costs $900, and liability coverage costs around $274. A liability-only policy costs as low as $322 a year, with high-risk insurance costing $3,816 or more. Teens receive the highest rates at $6,030 a year or more.

Average premium for full coverage: $1,762

Rate estimates broken down by individual coverage type:

Prices include $500 comprehensive and collision deductibles, bodily injury liability limits of 30/60, and includes medical/PIP and uninsured motorist coverage. Rates are averaged for all states and for all Corvette models.

Price Range by Coverage and Risk

Price Range by Location

Where you live has a large influence on insurance rates. More rural locations tend to have fewer accident claims than cities with more traffic congestion.

The example below illustrates the effect of geographic area on insurance prices.

These examples show why everyone should compare prices for a targeted area and their own personal driving habits, rather than using averaged prices.

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

Additional Charts and Tables

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

• The cheapest rate after discounts is $963
• Using higher $1,000 deductibles will save approximately $312 a year
• The estimated rate for a 40-year-old driver who has $500 deductibles is $1,762
• Selecting pricier low deductibles for physical damage coverage costs an additional $608 each year
• Higher-risk drivers with serious driving violations could pay up to $3,816 or more
• The cost with full coverage for a teenage driver for full coverage can cost as much as $6,030 or more

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Insurance rates for a Chevrolet Corvette can also vary considerably based on the trim level of your Corvette, your driver profile, and liability limits and deductibles.

A more mature driver with a clean driving record and high physical damage deductibles may only pay around $1,600 a year for full coverage. Rates are much higher for teen drivers, where even without any violations or accidents they can expect to pay at least $6,000 a year. View Rates by Age

If you like to drive fast or you caused a few accidents, you could be paying $2,100 to $2,800 extra per year, depending on your age. Chevrolet Corvette insurance for high-risk drivers can be around 46% to 134% more than the average policy. View High Risk Driver Rates

Choosing higher comprehensive and collision insurance deductibles could cut rates by as much as $920 a year, whereas buying more liability protection will increase premiums. Going from a 50/100 bodily injury limit to a 250/500 limit will cost as much as $246 more per year. View Rates by Deductible or Liability Limit

Where you live has a huge impact on Chevrolet Corvette insurance rates. A driver around age 40 might see rates as low as $1,160 a year in states like Iowa, Maine, and Idaho, or have to pay at least $2,510 on average in New York, Louisiana, and Michigan.

View Chart as Image

With so much variability in rates, the only way to know which company is cheapest is to regularly compare rates and see how they stack up. Each insurance company calculates rates differently, so the rates can be significantly different 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 the Right Chevrolet Corvette Insurance

Saving money on auto insurance requires having a decent driving record, having a good credit history, eliminating unneeded coverage, and taking advantage of discounts. Take the time to compare rates every other policy renewal by obtaining price quotes from direct carriers like Progressive and GEICO, and also from local exclusive and independent agents.

The following items are a quick rundown of the ideas that were covered in the above illustrations.

• 16 to 18-year-old drivers are charged the highest rates, costing as high as $503 per month including comprehensive and collision insurance
• Drivers with reckless driving or DUI convictions may pay on average $2,050 more annually than a driver with a clean driving record
• Increasing deductibles could save up to $925 each year
• Drivers can save approximately $230 per year simply by quoting online well ahead of the renewal date

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