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.

U.S. average auto insurance rates for a Chevrolet Corvette are $1,790 annually for full coverage. Comprehensive costs approximately $494 each year, collision insurance costs $922, and liability insurance costs around $264. A policy with just liability insurance costs as low as $312 a year, and coverage for high-risk drivers costs around $3,870. 16-year-old drivers pay the highest rates at up to $6,090 a year.

Average premium for full coverage: $1,790

Price estimates by individual coverage:

Rates are based on $500 comprehensive and collision deductibles, 30/60 split liability limits, and includes additional medical/uninsured motorist coverage. Estimates are averaged for all states and Corvette models.

Price Range from Low to High

Geographic Price Range

Where you live has a significant impact on car insurance rates. Rural locations have fewer accident claims than congested cities. The graphic below illustrates the effect of geographic area on auto insurance prices.

The ranges above show why all drivers should compare prices using their specific location and their own personal driving habits, rather than relying on rate averages.

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

Additional Rate Analysis

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

• The best full coverage rate is $977
• Using higher $1,000 deductibles will save $320 a year
• The estimated rate for the average middle-age driver who chooses $500 deductibles is $1,790
• Buying low deductibles for physical damage coverage will cost $2,418
• Drivers with multiple tickets or accidents could pay around $3,870
• The price with full coverage for a teen driver can cost $6,090 or more

View Chart as Image

Insurance prices for a Chevrolet Corvette are also quite variable based on the trim level and model year, your driver profile, and physical damage deductibles and liability limits.

More mature drivers with a clean driving record and high physical damage deductibles could pay as little as $1,600 a year for full coverage. Prices are highest for teenage drivers, where even without any violations or accidents they can expect to pay in the ballpark of $6,000 a year. View Rates by Age

If you have some driving violations or you caused a few accidents, you could be paying anywhere from $2,100 to $2,800 extra each year, depending on your age. Insurance for high-risk drivers can be anywhere from 46% to 132% more than the average rate. View High Risk Driver Rates

Opting for high physical damage deductibles could cut prices by as much as $950 each year, whereas increasing liability limits will push prices upward. Going from a 50/100 bodily injury limit to a 250/500 limit will increase prices by as much as $237 more per year. View Rates by Deductible or Liability Limit

The state you live in has a huge impact on Chevrolet Corvette insurance rates. A driver around age 40 might see prices as low as $1,180 a year in states like Iowa, Maine, and Idaho, or at least $2,550 on average in New York, Louisiana, and Michigan.

View Chart as Image

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 Buy the Best Cheap Chevrolet Corvette Insurance

Getting lower rates on Chevrolet Corvette insurance requires avoiding accidents and violations, having a good credit history, eliminating unnecessary coverage, and possibly raising deductibles. Take the time to compare rates at least every other year by getting quotes from direct carriers like GEICO, Progressive, and Esurance, and also from several local insurance agents.

The list below is a quick review of the car insurance concepts covered in the above illustrations.

• High-risk drivers with a DUI or reckless driving violation pay on average $2,080 more per year for car insurance
• Drivers can save around $230 per year just by quoting online in advance
• Increasing physical damage deductibles could save up to $950 each year
• Drivers who purchase higher liability limits will pay around $290 each year to increase from a low limit to higher 250/500 limits

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