Chevrolet Corvette Insurance Rates

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Tonya Sisler

Insurance Content Team Lead

Tonya Sisler has been a technical insurance writer for over five years. She uses her extensive insurance and finance knowledge to write informative articles that answer readers' top questions. Her mission is to provide readers with timely, accurate information that allows them to determine their insurance needs and choose the best coverage. Tonya currently leads a team of 10 insurance copywrite...

Insurance Content Team Lead

UPDATED: Jun 6, 2023

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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.

Average insurance rates for a Chevrolet Corvette are $1,718 a year with full coverage. Comprehensive costs on average $462 each year, collision costs $862, and liability is $284. A liability-only policy costs around $328 a year, with high-risk insurance costing around $3,718. 16-year-old drivers receive the highest rates at $5,902 a year or more.

Average premium for full coverage: $1,718

Rate estimates by individual coverage type:

Comprehensive $462
Collision $862
Liability $284

Prices include $500 policy deductibles, minimum liability limits, and includes both medical and UM/UIM coverage. Rates are averaged for all U.S. states and Corvette models.

Price Range by Coverage and Risk

For the average driver, prices range go from the low end price of $328 for basic liability insurance to a high rate of $3,718 for high-risk insurance.

Liability Only $328
Full Coverage $1,718
High Risk $3,718

Price Range by Location

Choosing to live in a large city can have significant affects on auto insurance rates. Rural areas tend to have lower incidents of collision claims than congested cities.

The graphic below illustrates how location impacts car insurance rates.

Rural Areas $1,289
Small Cities $1,804
Large Cities $2,319

These examples demonstrate why all drivers should compare rates quotes based on a specific location, instead of using rate averages.

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.

Rate Comparisons

The chart below details estimated Chevrolet Corvette insurance rates for different risk profiles and scenarios.

  • The best full coverage rate is $942
  • Raising to $1,000 deductibles will save around $300 annually
  • The estimated price for a 40-year-old driver with $500 deductibles is $1,718
  • Buying low deductibles bumps up the cost to $2,304
  • At-risk drivers with multiple tickets or accidents could pay upwards of $3,718 or more
  • The cost that insures a teen driver may cost $5,902

View Chart as Image

Chevrolet Corvette insurance cost comparison chart
Column chart showing full coverage Chevrolet Corvette insurance rates range from $942 to $5,902

Insurance rates for a Chevrolet Corvette can also vary considerably based on the trim level and model year, your age and driving habits, and policy deductibles and limits.

If you like to drive fast or you caused an accident, you may be forking out at a minimum $2,000 to $2,700 extra per year, depending on your age. Insurance for high-risk drivers is expensive and can cost as much as 46% to 131% more than the average rate. View High Risk Driver Rates

More mature drivers with a clean driving record and higher comprehensive and collision deductibles may pay as little as $1,600 every 12 months on average for full coverage. Rates are highest for teen drivers, since even teens with perfect driving records can expect to pay upwards of $5,900 a year. View Rates by Age

Where you live also has a big influence on Chevrolet Corvette insurance prices. A middle-age driver might find rates as low as $1,240 a year in states like New Hampshire, Ohio, and Utah, or at least $2,320 on average in Florida, Michigan, and New York.

Chevrolet Corvette Insurance Rates by State
State Premium Compared to U.S. Avg Percent Difference
Alabama $1,552 -$166 -9.7%
Alaska $1,318 -$400 -23.3%
Arizona $1,426 -$292 -17.0%
Arkansas $1,718 -$0 0.0%
California $1,956 $238 13.9%
Colorado $1,638 -$80 -4.7%
Connecticut $1,764 $46 2.7%
Delaware $1,942 $224 13.0%
Florida $2,144 $426 24.8%
Georgia $1,586 -$132 -7.7%
Hawaii $1,236 -$482 -28.1%
Idaho $1,162 -$556 -32.4%
Illinois $1,282 -$436 -25.4%
Indiana $1,294 -$424 -24.7%
Iowa $1,160 -$558 -32.5%
Kansas $1,632 -$86 -5.0%
Kentucky $2,340 $622 36.2%
Louisiana $2,542 $824 48.0%
Maine $1,056 -$662 -38.5%
Maryland $1,416 -$302 -17.6%
Massachusetts $1,370 -$348 -20.3%
Michigan $2,980 $1,262 73.5%
Minnesota $1,438 -$280 -16.3%
Mississippi $2,058 $340 19.8%
Missouri $1,524 -$194 -11.3%
Montana $1,846 $128 7.5%
Nebraska $1,354 -$364 -21.2%
Nevada $2,058 $340 19.8%
New Hampshire $1,238 -$480 -27.9%
New Jersey $1,918 $200 11.6%
New Mexico $1,518 -$200 -11.6%
New York $1,808 $90 5.2%
North Carolina $988 -$730 -42.5%
North Dakota $1,406 -$312 -18.2%
Ohio $1,186 -$532 -31.0%
Oklahoma $1,762 $44 2.6%
Oregon $1,574 -$144 -8.4%
Pennsylvania $1,636 -$82 -4.8%
Rhode Island $2,288 $570 33.2%
South Carolina $1,556 -$162 -9.4%
South Dakota $1,450 -$268 -15.6%
Tennessee $1,504 -$214 -12.5%
Texas $2,070 $352 20.5%
Utah $1,272 -$446 -26.0%
Vermont $1,174 -$544 -31.7%
Virginia $1,030 -$688 -40.0%
Washington $1,324 -$394 -22.9%
West Virginia $1,576 -$142 -8.3%
Wisconsin $1,190 -$528 -30.7%
Wyoming $1,526 -$192 -11.2%

View Chart as Image

Chevrolet Corvette insurance rates by U.S. city

Opting for high physical damage deductibles can reduce rates by up to $890 every year, whereas increasing liability limits will cost you more. Moving from a 50/100 bodily injury protection limit to a 250/500 limit will cost as much as $255 more per year. View Rates by Deductible or Liability Limit

With so much variability in rates, the best way to find out exactly what you will pay is to do a rate comparison and see which company has the best rate. Every auto insurance company utilizes a different rate formula, so the rates can be significantly different.

Insurance Rates by Trim Level and Model Year

Chevrolet Corvette Insurance Rates by Model and Trim Level
Model and Trim Annual Premium Monthly Premium
Chevrolet Corvette 2-Dr Coupe $1,430 $119
Chevrolet Corvette GS 2-Dr Coupe $1,588 $132
Chevrolet Corvette 2-Dr Convertible $1,734 $145
Chevrolet Corvette GS 2-Dr Convertible $1,812 $151
Chevrolet Corvette Z06 2-Dr Coupe $1,746 $146
Chevrolet Corvette ZR1 2-Dr Coupe $2,230 $186

Rates assume 2020 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.

Chevrolet Corvette Insurance Rates by Model Year
Model Year Comprehensive Collision Liability Total Premium
2020 Chevrolet Corvette $462 $862 $284 $1,718
2018 Chevrolet Corvette $420 $772 $298 $1,600
2017 Chevrolet Corvette $402 $728 $300 $1,540
2016 Chevrolet Corvette $386 $652 $304 $1,452
2015 Chevrolet Corvette $360 $600 $304 $1,374
2014 Chevrolet Corvette $348 $562 $306 $1,326
2013 Chevrolet Corvette $340 $526 $312 $1,288
2012 Chevrolet Corvette $314 $488 $312 $1,224
2011 Chevrolet Corvette $306 $442 $316 $1,174
2009 Chevrolet Corvette $268 $368 $312 $1,058
2008 Chevrolet Corvette $260 $330 $310 $1,010
2007 Chevrolet Corvette $256 $322 $304 $992
2006 Chevrolet Corvette $252 $308 $298 $968
2005 Chevrolet Corvette $230 $292 $294 $926
2004 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 Find the Right Chevrolet Corvette Insurance

Saving money on car insurance consists of avoiding accidents and claims, having above-average credit, eliminating unnecessary coverage, and bundling your home and auto policies. Comparison shop every couple of years by getting rate quotes from direct companies like Progressive, GEICO, and Esurance, and also from several local insurance agents.

The points below are a quick rundown of the material that was touched on above.

  • Policyholders who require increased liability limits will pay around $310 every year to raise from a minimum limit to the 250/500 level
  • Drivers under the age of 20 pay the highest rates, with premiums as much as $492 per month if full coverage is included
  • Higher risk drivers with reckless driving or DUI convictions pay on average $2,000 more each year to insure a Chevrolet Corvette
  • Increasing deductibles can save approximately $875 each year

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

  1. https://www.iihs.org/ratings/insurance-losses-by-make-and-model

Rates by Driver Age

Chevrolet Corvette Insurance Rates by Driver Age
Driver Age Premium
16 $5,902
20 $3,940
30 $1,828
40 $1,718
50 $1,562
60 $1,532

Full coverage, $500 deductibles

Rates by Deductible

Chevrolet Corvette Insurance Rates with Different Deductibles
Deductible Premium
$100 $2,304
$250 $2,032
$500 $1,718
$1,000 $1,418

Full coverage, driver age 40

Rates by Liability Limit

Chevrolet Corvette Insurance Rates with Different Liability Limits
Liability Limit Premium
30/60 $1,718
50/100 $2,287
100/300 $2,358
250/500 $2,542
100 CSL $2,315
300 CSL $2,471
500 CSL $2,585

Full coverage, driver age 40

Rates for High Risk Drivers

Chevrolet Corvette Insurance Rates for High Risk Drivers
Age Premium
16 $8,542
20 $6,276
30 $3,840
40 $3,718
50 $3,540
60 $3,506

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.

SR-22 Surcharge $246

Potential Rate Discounts

If you qualify for discounts, you may save the amounts shown below.

Discount Savings
Multi-policy $96
Multi-vehicle $88
Homeowner $22
5-yr Accident Free $143
5-yr Claim Free $115
Paid in Full/EFT $91
Advance Quote $92
Online Quote $129
Total Discounts $776
Rate after discounts $942

Discounts are estimated and may not be available from every company or in every state.

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