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 $1,762 a year for full coverage insurance. Comprehensive insurance costs approximately $478 a year, collision costs $900, and liability is $274. Liability-only coverage costs around $322 a year, with high-risk coverage costing $3,816 or more. Teenage drivers pay the highest rates at $6,030 a year or more.

Average premium for full coverage: $1,762

Price estimates by individual coverage:

Prices are based on $500 policy deductibles, liability coverage up to 30/60, and includes medical and UM/UIM coverage. Estimates are averaged for all 50 states and Corvette trim levels.

Price Range from Low to High

Geographic Price Range

Choosing to live in a large city can make a big difference on the price of auto insurance. Rural locations have lower incidents of physical damage claims than densely populated cities.

The diagram below illustrates the difference location can make on auto insurance prices.

The ranges above illustrate why it is important to compare rates quotes using their specific location, instead of making a decision based on average rates.

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

More Rate Details

The chart below illustrates estimated Chevrolet Corvette insurance rates for additional coverage and risk scenarios.

• The best discount rate is $963
• Raising to $1,000 deductibles will save $1,450 each year
• The estimated price for the average middle-age driver who chooses $500 deductibles is $1,762
• Using low $100 deductibles will cost an additional $608 annually
• Drivers who are prone to accidents and violations could pay around $3,816 or more
• The price that insures a 16-year-old driver can cost $6,030

View Chart as Image

Auto insurance prices for a Chevrolet Corvette are also quite variable based on the trim level of your Corvette, your age and driving record, and physical damage deductibles and liability limits.

If you have some driving violations or you caused an accident, you are probably paying anywhere from $2,100 to $2,800 in extra premium each year, depending on your age. A high-risk auto insurance policy is expensive and can cost from 46% to 134% more than a normal policy. View High Risk Driver Rates

Older drivers with a good driving record and higher comprehensive and collision deductibles may pay as low as $1,600 every 12 months on average for full coverage. Prices are much higher for teenage drivers, since even teens with perfect driving records will have to pay in the ballpark of $6,000 a year. View Rates by Age

The state you live in also has a big influence on Chevrolet Corvette insurance prices. A middle-age driver might find prices as low as $1,150 a year in states like North Carolina, Wisconsin, and Vermont, or be forced to pay as much as $2,380 on average in Florida, New York, and Michigan.

View Chart as Image

Using high physical damage deductibles can reduce prices by up to $920 annually, while buying higher liability limits will push prices upward. Switching from a 50/100 bodily injury protection limit to a 250/500 limit will increase prices by as much as $246 extra every year. View Rates by Deductible or Liability Limit

Since prices can be so different, the only way to figure out who has the best car insurance prices is to get quotes from multiple companies. Every auto insurance company uses a different method to calculate prices, and quoted 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 Affordable Chevrolet Corvette Insurance

Getting lower rates on insurance for a Chevrolet Corvette consists of being a good driver, maintaining a good credit score, not filing small claims, and not having any coverage lapses. Compare prices every time your policy renews by obtaining price quotes from direct insurance companies, and also from your local car insurance providers.

The following list is a brief review of the information touched on in this article.

• It is possible to save around $230 per year simply by quoting early and online
• Drivers age 16 to 20 have the highest car insurance prices, as much as $503 a month if the policy includes full coverage
• Increasing physical damage deductibles can save approximately $925 each year
• Drivers considered higher risk with DUI or reckless driving convictions could be charged and average of $2,050 more per year than a safer driver
• Insureds who purchase an increased level of liability coverage will pay an extra $300 annually to raise from a low limit to the 250/500 level

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