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 rates for a Chevrolet Corvette are $1,762 a year with full coverage. Comprehensive insurance costs on average $478, collision insurance costs $900, and liability costs around $274. Liability-only insurance costs as low as $322 a year, and high-risk driver insurance costs $3,816 or more. 16-year-old drivers cost the most to insure at up to $6,030 a year.

Average premium for full coverage: $1,762

Policy rates by type of insurance:

Rates are based on $500 policy deductibles, liability coverage up to 30/60, and includes medical and uninsured motorist coverage. Prices are averaged for all U.S. states and for all Corvette models.

Price Range Variability

Urban vs. Rural Price Range

Where you live can make a big difference on auto insurance rates. Rural areas are shown to have lower incidents of collision claims than congested cities. The example below illustrates how where you live affects car insurance rates.

The examples above demonstrate why everyone should compare prices based on a specific location, instead of making a decision based on rate averages.

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

Detailed Rate Analysis

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

• The best full coverage rate is $963
• Using higher $1,000 deductibles will save around $312 annually
• The estimated price for a good driver age 40 with $500 deductibles is $1,762
• Buying pricier low deductibles for physical damage coverage will cost an additional $608 annually
• High-risk insureds with multiple tickets or accidents could pay upwards of $3,816
• Policy cost that insures a 16-year-old driver for full coverage may cost $6,030 or more

View Chart as Image

Auto insurance rates for a Chevrolet Corvette also range considerably based on the model of your Corvette, your age and driving habits, and policy deductibles and limits.

If you have a few points on your driving record or you caused an accident, you may be forking out at a minimum $2,100 to $2,800 in extra premium every year, depending on your age. Chevrolet Corvette insurance for high-risk drivers can be from 46% to 134% more than the average rate. View High Risk Driver Rates

A more mature driver with a good driving record and higher comprehensive and collision deductibles may pay as low as $1,600 a year, or $133 per month, for full coverage. Rates are highest for teenagers, since even teens with perfect driving records will have to pay upwards of $6,000 a year. View Rates by Age

Your home state has a huge impact on Chevrolet Corvette insurance prices. A driver around age 40 might see rates as low as $1,270 a year in states like New Hampshire, Ohio, and Utah, or at least $2,380 on average in Florida, Michigan, and New York.

View Chart as Image

Opting for high physical damage deductibles could cut rates by as much as $920 annually, whereas buying more liability protection will cost you more. Moving from a 50/100 bodily injury protection limit to a 250/500 limit will raise rates by up to $246 extra every year. 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 Best Cheap Chevrolet Corvette Insurance

Finding cheaper rates on insurance for a Chevrolet Corvette requires avoiding accidents and claims, maintaining a good credit score, not filing small claims, and deciding if full coverage is necessary. Comparison shop every time your policy renews by obtaining price quotes from direct companies, and also from several local insurance agents.

The points below are a quick review of the information touched on in the above illustrations.

• You may be able to save as much as $230 per year just by quoting online well ahead of the renewal date
• Drivers under the age of 20 are charged the highest rates, as much as $503 each month if the policy includes full coverage
• Increasing comprehensive and collision deductibles can save approximately $925 each year
• Drivers considered higher risk with a DUI or reckless driving violation pay on average $2,050 more each year to insure a Chevrolet Corvette
• Insureds who require increased liability limits will pay around $300 every year to increase from a 30/60 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