Chevrolet Corvette Insurance Rates
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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:
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.
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.
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
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.
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% |
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
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.
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
Rate Tables and Charts
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
Deductible | Premium |
---|---|
$100 | $2,304 |
$250 | $2,032 |
$500 | $1,718 |
$1,000 | $1,418 |
Full coverage, driver age 40
Rates by Liability Limit
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
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.
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 |
Discounts are estimated and may not be available from every company or in every state.
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