Chevrolet Corvette Insurance Rates
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Michelle Robbins
Licensed Insurance Agent
Michelle Robbins has been a licensed insurance agent for over 13 years. Her career began in the real estate industry, supporting local realtors with Title Insurance. After several years, Michelle shifted to real estate home warranty insurance, where she managed a territory of over 100 miles of real estate professionals. Later, Agent Robbins obtained more licensing and experience serving families a...
Licensed Insurance Agent
UPDATED: Apr 4, 2024
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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 auto insurance rates for a Chevrolet Corvette are $1,762 annually with full coverage. Comprehensive insurance costs around $478, collision costs $900, and liability costs $274. A policy with just liability insurance costs as little as $322 a year, with coverage for high-risk drivers 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 for individual coverage:
Full coverage includes $500 physical damage insurance deductibles, 30/60 split liability limits, and includes medical/PIP and uninsured motorist coverage. Estimates are averaged for all U.S. states and for all Corvette models.
Price Range from Low to High
For a 40-year-old driver, Chevrolet Corvette insurance prices go from as cheap as $322 for liability-only coverage to the much higher price of $3,816 for a high-risk insurance policy.
Geographic Price Range
Your location can make a big difference on insurance rates. Areas with sparse population have fewer collision claims than densely populated cities.
The example below illustrates how your location can change auto insurance rates.
The ranges above demonstrate why everyone should compare rates for a specific zip code and their own personal driving habits, instead of making a decision based on average rates.
Use the form below to get customized rates for your location.
Enter your zip code below to view companies based on your location that have cheap auto insurance rates.
Additional Charts and Tables
The chart below details estimated Chevrolet Corvette insurance rates for additional coverage choices and driver risks.
- The best discount rate is $963
- Drivers who choose higher $1,000 deductibles will pay about $312 annually
- The estimated rate for the average middle-age driver using $500 deductibles is $1,762
- Using pricier low deductibles for comprehensive and collision insurance costs an additional $608 annually
- Drivers who are prone to accidents and violations could pay at least $3,816 or more
- The price with full coverage for a 16-year-old driver for full coverage can be $6,030 a year
Insurance prices for a Chevrolet Corvette are also quite variable based on the trim level and model year, your driving record, and deductibles and policy limits.
A more mature driver with a clean driving record and high physical damage deductibles may pay as low as $1,600 per year on average for full coverage. Prices are much higher for teenage drivers, where even without any violations or accidents they can expect to pay as much as $6,000 a year. View Rates by Age
If you have some driving violations or you caused a few accidents, you may be forking out at least $2,100 to $2,800 extra each year, depending on your age. Chevrolet Corvette insurance for high-risk drivers can cost from 46% to 134% more than a normal policy. View High Risk Driver Rates
Using high physical damage deductibles could save up to $920 annually, whereas buying more liability protection will increase prices. Moving from a 50/100 bodily injury limit to a 250/500 limit will increase prices by as much as $246 more per year. View Rates by Deductible or Liability Limit
The state you live in makes a big difference in Chevrolet Corvette insurance prices. A 40-year-old driver could pay as low as $1,270 a year in states like New Hampshire, Ohio, and Utah, or be forced to pay as much as $2,380 on average in Florida, Michigan, and New York.
| State | Premium | Compared to U.S. Avg | Percent Difference |
|---|---|---|---|
| Alabama | $1,594 | -$168 | -9.5% |
| Alaska | $1,350 | -$412 | -23.4% |
| Arizona | $1,464 | -$298 | -16.9% |
| Arkansas | $1,762 | -$0 | 0.0% |
| California | $2,008 | $246 | 14.0% |
| Colorado | $1,682 | -$80 | -4.5% |
| Connecticut | $1,810 | $48 | 2.7% |
| Delaware | $1,992 | $230 | 13.1% |
| Florida | $2,204 | $442 | 25.1% |
| Georgia | $1,630 | -$132 | -7.5% |
| Hawaii | $1,268 | -$494 | -28.0% |
| Idaho | $1,194 | -$568 | -32.2% |
| Illinois | $1,314 | -$448 | -25.4% |
| Indiana | $1,328 | -$434 | -24.6% |
| Iowa | $1,190 | -$572 | -32.5% |
| Kansas | $1,672 | -$90 | -5.1% |
| Kentucky | $2,402 | $640 | 36.3% |
| Louisiana | $2,610 | $848 | 48.1% |
| Maine | $1,086 | -$676 | -38.4% |
| Maryland | $1,452 | -$310 | -17.6% |
| Massachusetts | $1,408 | -$354 | -20.1% |
| Michigan | $3,062 | $1,300 | 73.8% |
| Minnesota | $1,476 | -$286 | -16.2% |
| Mississippi | $2,110 | $348 | 19.8% |
| Missouri | $1,564 | -$198 | -11.2% |
| Montana | $1,896 | $134 | 7.6% |
| Nebraska | $1,388 | -$374 | -21.2% |
| Nevada | $2,114 | $352 | 20.0% |
| New Hampshire | $1,270 | -$492 | -27.9% |
| New Jersey | $1,968 | $206 | 11.7% |
| New Mexico | $1,562 | -$200 | -11.4% |
| New York | $1,858 | $96 | 5.4% |
| North Carolina | $1,014 | -$748 | -42.5% |
| North Dakota | $1,442 | -$320 | -18.2% |
| Ohio | $1,218 | -$544 | -30.9% |
| Oklahoma | $1,808 | $46 | 2.6% |
| Oregon | $1,618 | -$144 | -8.2% |
| Pennsylvania | $1,680 | -$82 | -4.7% |
| Rhode Island | $2,350 | $588 | 33.4% |
| South Carolina | $1,596 | -$166 | -9.4% |
| South Dakota | $1,488 | -$274 | -15.6% |
| Tennessee | $1,542 | -$220 | -12.5% |
| Texas | $2,122 | $360 | 20.4% |
| Utah | $1,306 | -$456 | -25.9% |
| Vermont | $1,204 | -$558 | -31.7% |
| Virginia | $1,056 | -$706 | -40.1% |
| Washington | $1,358 | -$404 | -22.9% |
| West Virginia | $1,618 | -$144 | -8.2% |
| Wisconsin | $1,220 | -$542 | -30.8% |
| Wyoming | $1,568 | -$194 | -11.0% |
Since prices can be so different, the best way to find out your exact price is to regularly compare prices from multiple companies. Every company uses a different method to calculate prices, so the prices may be quite different between companies.
Insurance Rates by Trim Level and Model Year
| Model and Trim | Annual Premium | Monthly Premium |
|---|---|---|
| Chevrolet Corvette 2-Dr Coupe | $1,464 | $122 |
| Chevrolet Corvette GS 2-Dr Coupe | $1,628 | $136 |
| Chevrolet Corvette 2-Dr Convertible | $1,774 | $148 |
| Chevrolet Corvette GS 2-Dr Convertible | $1,856 | $155 |
| Chevrolet Corvette Z06 2-Dr Coupe | $1,792 | $149 |
| Chevrolet Corvette ZR1 2-Dr Coupe | $2,298 | $192 |
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.
| Model Year | Comprehensive | Collision | Liability | Total Premium |
|---|---|---|---|---|
| 2024 Chevrolet Corvette | $494 | $922 | $264 | $1,790 |
| 2023 Chevrolet Corvette | $478 | $900 | $274 | $1,762 |
| 2022 Chevrolet Corvette | $462 | $862 | $284 | $1,718 |
| 2021 Chevrolet Corvette | $436 | $832 | $292 | $1,670 |
| 2020 Chevrolet Corvette | $420 | $772 | $298 | $1,600 |
| 2019 Chevrolet Corvette | $402 | $728 | $300 | $1,540 |
| 2018 Chevrolet Corvette | $386 | $652 | $304 | $1,452 |
| 2017 Chevrolet Corvette | $360 | $600 | $304 | $1,374 |
| 2016 Chevrolet Corvette | $348 | $562 | $306 | $1,326 |
| 2015 Chevrolet Corvette | $340 | $526 | $312 | $1,288 |
| 2014 Chevrolet Corvette | $314 | $488 | $312 | $1,224 |
| 2013 Chevrolet Corvette | $306 | $442 | $316 | $1,174 |
| 2012 Chevrolet Corvette | $286 | $406 | $312 | $1,114 |
| 2011 Chevrolet Corvette | $268 | $368 | $312 | $1,058 |
| 2009 Chevrolet Corvette | $256 | $322 | $304 | $992 |
| 2008 Chevrolet Corvette | $252 | $308 | $298 | $968 |
| 2007 Chevrolet Corvette | $230 | $292 | $294 | $926 |
| 2006 Chevrolet Corvette | $222 | $278 | $292 | $902 |
Rates are averaged for all Chevrolet Corvette models and trim levels. Rates assume a 40-year-old male driver, full coverage with $500 deductibles, and a clean driving record.
How to Buy More Affordable Chevrolet Corvette Insurance
Getting lower rates on insurance for a Chevrolet Corvette not only requires being a low-risk driver, but also having a good credit history, avoid buying unnecessary coverage, and insuring your home and auto with the same company. Invest the time to shop around at least every other year by getting quotes from direct companies like GEICO, Progressive, and Esurance, and also from local exclusive and independent agents.
The items below are a summary of the car insurance concepts illustrated above.
- Drivers considered higher risk who have multiple accidents or major violations may pay on average $2,050 more every year to insure their Corvette
- You may be able to save up to $230 per year simply by quoting online well ahead of the renewal date
- Increasing physical damage deductibles could save up to $925 each year
- Insureds who may need more liability coverage will pay an extra $300 every year to go from a low limit to higher 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.
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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.
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
Rate Tables and Charts
Rates by Driver Age
| Driver Age | Premium |
|---|---|
| 16 | $6,030 |
| 20 | $4,048 |
| 30 | $1,878 |
| 40 | $1,762 |
| 50 | $1,602 |
| 60 | $1,572 |
Full coverage, $500 deductibles
Rates by Deductible
| Deductible | Premium |
|---|---|
| $100 | $2,370 |
| $250 | $2,088 |
| $500 | $1,762 |
| $1,000 | $1,450 |
Full coverage, driver age 40
Rates by Liability Limit
| Liability Limit | Premium |
|---|---|
| 30/60 | $1,762 |
| 50/100 | $2,353 |
| 100/300 | $2,421 |
| 250/500 | $2,599 |
| 100 CSL | $2,380 |
| 300 CSL | $2,531 |
| 500 CSL | $2,641 |
Full coverage, driver age 40
Rates for High Risk Drivers
| Age | Premium |
|---|---|
| 16 | $8,736 |
| 20 | $6,444 |
| 30 | $3,944 |
| 40 | $3,816 |
| 50 | $3,634 |
| 60 | $3,602 |
Full coverage, $500 deductibles, two speeding tickets, and one at-fault accident
If a financial responsibility filing is required, the additional charge below may also apply.
Potential Rate Discounts
If you qualify for discounts, you may save the amounts shown below.
| Discount | Savings |
|---|---|
| Multi-policy | $99 |
| Multi-vehicle | $90 |
| Homeowner | $22 |
| 5-yr Accident Free | $148 |
| 5-yr Claim Free | $118 |
| Paid in Full/EFT | $95 |
| Advance Quote | $95 |
| Online Quote | $132 |
| Total Discounts | $799 |
Discounts are estimated and may not be available from every company or in every state.
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