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 including full coverage. Comprehensive costs an estimated $494, collision insurance costs $922, and liability insurance is estimated at $264. Liability-only insurance costs approximately $312 a year, and high-risk driver insurance costs around $3,870. Teens cost the most to insure at up to $6,090 a year.

Average premium for full coverage: $1,790

Policy rates broken down by type of insurance:

Estimates include $500 comprehensive and collision deductibles, 30/60 split liability limits, and includes both 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

Living in a larger city has a significant impact on the price of auto insurance. More rural locations are shown to have a lower frequency of comprehensive and collision claims than cities with more traffic congestion. The price range example below illustrates the difference location can make on insurance prices.

The examples above highlight why anyone shopping for car insurance should get quotes for a targeted area and risk profile, rather than relying on averaged prices.

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

Rate Comparisons

The chart below breaks down average Chevrolet Corvette insurance rates for other coverage scenarios.

• The cheapest rate after discounts is $977
• Choosing higher $1,000 deductibles can save approximately $320 every year
• The average rate for a good driver age 40 who has $500 deductibles is $1,790
• Selecting more expensive low deductibles for comp and collision coverage will increase the cost to $2,418
• High-risk insureds with serious driving violations could pay up to $3,870
• Policy cost for full coverage for a teen driver with full coverage can cost as much as $6,090 each year

View Chart as Image

Auto insurance rates for a Chevrolet Corvette also range considerably based on your risk profile, the model of your Corvette, and liability limits and deductibles.

An older driver with a good driving record and high deductibles could pay as little as $1,600 annually on average, or $133 per month, for full coverage. Rates are much higher for teenagers, where even good drivers will have to pay at least $6,000 a year. View Rates by Age

Your home state plays a big part in determining prices for Chevrolet Corvette insurance rates. A good driver about age 40 could pay as low as $1,370 a year in states like Vermont, New Hampshire, and Missouri, or have to pay at least $2,550 on average in Louisiana, New York, and Michigan.

View Chart as Image

Choosing higher comprehensive and collision insurance deductibles can save as much as $950 each year, while increasing your policy's liability limits will increase premiums. Changing from a 50/100 limit to a 250/500 limit will raise rates by up to $237 extra every year. View Rates by Deductible or Liability Limit

If you have a few points on your driving record or tend to cause accidents, you are likely paying $2,100 to $2,800 in extra premium every year, depending on your age. High-risk driver insurance ranges anywhere from 46% to 132% more than the average policy. View High Risk Driver Rates

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 Low Cost Chevrolet Corvette Insurance

Finding cheaper rates on Chevrolet Corvette insurance takes avoiding accidents and violations, having good credit, paying for small claims out-of-pocket, and consideration of higher deductibles. Make time to compare rates at least every other year by requesting quotes from direct car insurance companies like GEICO, Progressive, and Esurance, and also from your local independent and exclusive agents.

The list below is a review of the car insurance concepts touched on in this article.

• High-risk drivers who have several accidents or serious violations may pay on average $2,080 more annually for car insurance
• You may be able to save approximately $230 per year just by shopping early and online
• Increasing comprehensive and collision deductibles can save around $950 each year
• Drivers who want higher liability limits will pay approximately $290 per year to raise limits from a 30/60 limit to 250/500 limits

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