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.

Average insurance rates for a Chevrolet Corvette are $1,790 a year with full coverage. Comprehensive costs approximately $494, collision insurance costs $922, and liability costs $264. Liability-only coverage costs as little as $312 a year, and high-risk coverage costs around $3,870. Teens receive the highest rates at up to $6,090 a year.

Average premium for full coverage: $1,790

Rate estimates by individual coverage type:

Prices include $500 comprehensive and collision deductibles, split liability limits of 30/60, and includes uninsured/under-insured motorist coverage. Rates are averaged for all U.S. states and for all Corvette models.

Price Range by Coverage and Risk

Price Range by Location

Your location can make a big difference on the price of insurance. Rural locations tend to have lower incidents of collision claims than cities with more traffic congestion. The example below illustrates the difference location can make on auto insurance prices.

These examples demonstrate why everyone should compare rates using their specific location, instead of making a decision based on averaged prices.

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

More Rate Information

The chart below details average Chevrolet Corvette insurance rates for additional coverage and risk scenarios.

• The cheapest rate after discounts is $977
• Drivers who choose higher $1,000 deductibles will pay $320 annually
• The estimated price for a 40-year-old driver who chooses $500 deductibles is $1,790
• Selecting pricier low deductibles for comprehensive and collision insurance bumps up the cost to $2,418
• Drivers with serious driving violations could pay around $3,870
• The cost that insures a 16-year-old driver for full coverage can cost $6,090 a year

View Chart as Image

Car insurance rates for a Chevrolet Corvette can also vary considerably based on the model of your Corvette, your age and driving habits, and physical damage deductibles and liability limits.

If you like to drive fast or you caused an accident, you may be forking out anywhere from $2,100 to $2,800 extra per year, depending on your age. Chevrolet Corvette insurance for high-risk drivers can cost from 46% to 132% more than the average policy. View High Risk Driver Rates

A more mature driver with no driving violations and higher comprehensive and collision deductibles may pay as low as $1,600 per year on average for full coverage. Rates are much higher for teen drivers, since even teens with perfect driving records will be charged in the ballpark of $6,000 a year. View Rates by Age

Where you live makes a big difference in Chevrolet Corvette insurance prices. A 40-year-old driver could pay as low as $1,290 a year in states like Utah, Ohio, and New Hampshire, or have to pay at least $2,410 on average in New York, Michigan, and Florida.

View Chart as Image

Choosing higher comprehensive and collision insurance deductibles could save up to $950 annually, whereas buying more liability protection will push rates upward. Moving from a 50/100 bodily injury protection limit to a 250/500 limit will cost as much as $237 extra every 12 months. View Rates by Deductible or Liability Limit

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 the Right Chevrolet Corvette Insurance

Saving money on insurance for a Chevrolet Corvette not only requires avoiding accidents and violations, but also having a positive credit history, eliminating unnecessary coverage, and attention to physical damage deductibles. Compare rates at least once a year by getting rate quotes from direct companies like Progressive, GEICO, and Esurance, and also from local insurance agencies.

The list below is a quick rundown of the primary concepts that were touched on in this article.

• You may be able to save around $230 per year just by quoting online well ahead of the renewal date
• Drivers considered higher risk with reckless driving or DUI convictions may have to pay on average $2,080 more per year for car insurance
• Increasing deductibles can save approximately $950 each year
• Teenagers pay the highest auto insurance rates, with premiums as much as $508 per month if full coverage is purchased

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