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.

Estimated insurance rates for a Chevrolet Corvette are $1,790 a year for full coverage insurance. Comprehensive costs an estimated $494 each year, collision costs $922, and liability coverage is estimated at $264. Liability-only coverage costs approximately $312 a year, with high-risk coverage costing around $3,870. Teenage drivers pay the most at $6,090 a year or more.

Average premium for full coverage: $1,790

Premium estimates broken down by type of coverage:

Prices are based on $500 comprehensive and collision deductibles, bodily injury liability limits of 30/60, and includes uninsured/under-insured motorist coverage. Rates include averaging for all 50 states and Corvette models.

Insurance Price Range by Risk and Coverage

Insurance Price Range by Location

Living in a larger city has a large influence on the price of insurance. More rural locations are statistically proven to have lower incidents of physical damage claims than densely populated cities.

The graphic below illustrates the difference location can make on insurance prices.

These rate differences illustrate why all drivers should get quotes for a targeted area, rather than using average rates.

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

More Rate Information

The chart below illustrates estimated Chevrolet Corvette insurance rates for other coverage scenarios.

• The best discount rate is $977
• Choosing higher $1,000 deductibles can save approximately $320 each year
• The estimated price for a 40-year-old good driver who has $500 deductibles is $1,790
• Using low deductibles for comp and collision coverage bumps up the cost to $2,418
• Drivers who are prone to accidents and violations could pay up to $3,870 or more
• An auto insurance policy that insures a teenage driver can cost as much as $6,090 each year

View Chart as Image

Insurance prices for a Chevrolet Corvette also have a wide range based on the trim level and model year, your age and driving record, and liability limits and deductibles.

If you have a few violations or you caused an accident, you are probably paying $2,100 to $2,800 extra annually, depending on your age. Insurance for high-risk drivers ranges around 46% to 132% more than a normal policy. View High Risk Driver Rates

More mature drivers with a clean driving record and higher comprehensive and collision deductibles may only pay around $1,600 annually on average, or $133 per month, for full coverage. Prices are much higher for drivers in their teens, since even teens with perfect driving records can expect to pay at least $6,000 a year. View Rates by Age

Where you choose to live plays a big part in determining prices for Chevrolet Corvette insurance rates. A good driver about age 40 could pay as low as $1,170 a year in states like North Carolina, Wisconsin, and Vermont, or be forced to pay as much as $2,410 on average in Florida, New York, and Michigan.

View Chart as Image

Using high physical damage deductibles can save as much as $950 a year, whereas increasing liability limits will increase premiums. Switching from a 50/100 bodily injury protection limit to a 250/500 limit will cost up to $237 more per year. View Rates by Deductible or Liability Limit

With such a large range in prices, the only way to figure out which insurance company is cheapest is to do a rate comparison and see how they stack up. Each auto insurer uses a different method to calculate prices, so the prices will be substantially different.

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 Affordable Chevrolet Corvette Insurance

Finding better rates on auto insurance takes having a decent driving record, having above-average credit, paying for small claims out-of-pocket, and taking advantage of discounts. Compare prices every other policy renewal by requesting rates from direct insurance companies, and also from local insurance agencies.

The following items are a brief review of the ideas that were touched on in this article.

• 16 to 18-year-old drivers are charged the highest prices, with premiums being up to $508 per month if full coverage is included
• Drivers with DUI or reckless driving convictions may have to pay on average $2,080 more annually than a driver with a clean driving record
• Increasing policy deductibles can save approximately $950 each year
• It is possible to save approximately $230 per year simply by quoting online in advance

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