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.

U.S. average insurance rates for a Chevrolet Corvette are $1,790 a year for full coverage. Comprehensive insurance costs around $494 a year, collision costs $922, and liability insurance costs $264. Buying just liability costs as little as $312 a year, with insurance for high-risk drivers costing $3,870 or more. Teenage drivers pay the highest rates at $6,090 a year or more.

Average premium for full coverage: $1,790

Price estimates for individual coverage:

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

Price Range from Low to High

Geographic Price Range

Your location has a significant impact on auto insurance rates. Areas with sparse population have lower incidents of accident claims than densely populated cities.

The diagram below illustrates how rural and urban location affects auto insurance rates.

The ranges above show why it is important to compare rates for a specific zip code, rather than relying on average rates.

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

Rate Comparisons

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

• The best discount rate is $977
• Drivers who choose higher $1,000 deductibles will pay about $1,470 a year
• The estimated price for the average middle-age driver using $500 deductibles is $1,790
• Using low $100 deductibles for comprehensive and collision insurance will cost an additional $628 a year
• High risk drivers who are prone to accidents and violations could pay at least $3,870 or more
• The price that insures a teen driver can be $6,090 a year

View Chart as Image

Insurance prices for a Chevrolet Corvette are also quite variable based on the trim level of your Corvette, how you drive, and deductibles and policy limits.

If you have some driving violations or you caused an accident, you could be paying at least $2,100 to $2,800 additional each year, depending on your age. A high-risk auto insurance policy can cost anywhere from 46% to 132% more than a normal policy. View High Risk Driver Rates

Older drivers with no violations or accidents and higher comprehensive and collision deductibles could pay as little as $1,600 per year on average for full coverage. Prices are much higher for teenage drivers, since even teens with perfect driving records should be prepared to pay as much as $6,000 a year. View Rates by Age

The state you live in makes a big difference in Chevrolet Corvette insurance rates. A 40-year-old driver could pay as low as $1,180 a year in states like Idaho, Maine, and Iowa, or be forced to pay as much as $2,550 on average in Michigan, Louisiana, and New York.

View Chart as Image

Using high physical damage deductibles could save up to $950 each year, while buying higher liability limits will increase prices. Going from a 50/100 bodily injury protection limit to a 250/500 limit will increase prices by as much as $237 more each year. View Rates by Deductible or Liability Limit

Since prices can be so different, the only way to know your exact price is to get quotes from as many companies as possible. Every company uses a different method to calculate prices, and prices may be quite different.

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

Getting lower rates on Chevrolet Corvette insurance not only requires being a good driver, but also having a good credit score, eliminating unnecessary coverage, and taking advantage of discounts. Compare prices at every other renewal by quoting rates from direct carriers, and also from several local insurance agents.

The following list is a review of the concepts that were raised in the charts and tables above.

• High-risk drivers who have several accidents or serious violations pay on average $2,080 more every year than a safer driver
• Drivers age 16 to 20 are charged the highest prices, with premiums as much as $508 a month if comprehensive and collision insurance is included
• Drivers can save up to $230 per year simply by quoting early and online
• Increasing physical damage deductibles can save approximately $950 each year
• Drivers can save up to $230 per year simply 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