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 prices for a Chevrolet Corvette are $1,790 every 12 months for full coverage. Comprehensive insurance costs approximately $494, collision costs $922, and liability coverage costs around $264. Liability-only coverage costs as low as $312 a year, with high-risk coverage costing $3,870 or more. Teenage drivers cost the most to insure at $6,090 a year or more.

Average premium for full coverage: $1,790

Policy rates by type of insurance:

Prices are based on $500 comprehensive and collision deductibles, 30/60 liability limits, and includes medical/PIP and uninsured motorist coverage. Prices are averaged for all states and for all Corvette models.

Price Range Variability

Urban vs. Rural Price Range

Where you live has a large influence on car insurance rates. Rural locations are shown to have more infrequent accident claims than densely populated cities.

The example below illustrates how where you live affects auto insurance prices.

The examples above show why everyone should compare prices using their specific location and their own driving history, rather than using average rates.

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 additional coverage and risk scenarios.

• The best discount rate is $977
• Using higher $1,000 deductibles will save $320 a year
• The average price for a good driver age 40 who chooses $500 deductibles is $1,790
• Using pricier low deductibles for physical damage coverage costs an extra $628 each year
• Higher-risk drivers who are prone to accidents and violations could pay around $3,870 or more
• Policy cost to insure a teenage driver for full coverage can cost $6,090 or more

View Chart as Image

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

Using high physical damage deductibles could cut rates by as much as $950 a year, whereas buying more liability protection will push rates upward. Going from a 50/100 liability limit to a 250/500 limit will raise rates by up to $237 more each year. View Rates by Deductible or Liability Limit

A more mature driver with no violations or accidents and higher deductibles may only pay around $1,600 a year, or $133 per month, for full coverage. Rates are much higher for teenagers, since even excellent drivers 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 were responsible for an accident, you could be paying anywhere from $2,100 to $2,800 additional every year, depending on your age. Chevrolet Corvette insurance for high-risk drivers can be around 46% to 132% more than a normal policy. View High Risk Driver Rates

Your home state has a huge impact on Chevrolet Corvette insurance rates. A driver around age 40 might see rates as low as $1,180 a year in states like Iowa, Maine, and Idaho, or be forced to pay as much as $2,550 on average in New York, Louisiana, and Michigan.

View Chart as Image

Because rates have so much variability, the only way to know who has the cheapest car insurance rates is to regularly compare rates and see how they stack up. Each insurance company uses a different method to calculate rates, and rates will be varied.

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 Shop for Affordable Chevrolet Corvette Insurance

Finding cheaper rates on auto insurance requires having a decent driving record, having above-average credit, avoid buying unnecessary coverage, and qualifying for all possible discounts. Take the time to comparison shop at every policy renewal by getting rate quotes from direct carriers, and also from your local independent and exclusive agents.

The following items are a brief review of the data touched on in the above illustrations.

• Consumers who purchase additional liability coverage will pay an extra $290 each year to increase from a 30/60 limit to a 250/500 level
• Drivers can save around $230 per year simply by quoting online well ahead of the renewal date
• Increasing comprehensive and collision deductibles could save as much as $950 each year
• 16 to 18-year-old drivers are the costliest to insure, costing up to $508 each month if full coverage is included

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