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 $1,814 a year with full coverage. Comprehensive costs on average $516, collision insurance costs $930, and liability costs $258. Liability-only coverage costs as little as $306 a year, and high-risk coverage costs around $3,910. Teenage drivers receive the highest rates at up to $6,122 a year.

Average premium for full coverage: $1,814

Rate estimates by individual coverage type:

These estimates include $500 comprehensive and collision deductibles, 30/60 split liability limits, and includes medical and UM/UIM 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 auto insurance rates. Rural areas tend to have a lower frequency of collision claims than densely populated cities. The example below illustrates how your location can change car insurance rates.

These examples demonstrate why everyone should compare rates based on a specific location and risk profile, instead of making a decision based on average rates.

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

More Rate Details

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

• The best discount rate is $994
• Drivers who choose higher $1,000 deductibles will pay around $328 annually
• The average rate for a 40-year-old driver with $500 deductibles is $1,814
• Using pricier low deductibles for comprehensive and collision insurance will increase the cost to $2,452
• Drivers who are prone to accidents and violations could pay upwards of $3,910
• The cost for full coverage for a 16-year-old driver for full coverage may cost $6,122 a year

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Car insurance rates for a Chevrolet Corvette can also vary considerably based on your driver profile, the trim level and model year, and policy deductibles and limits.

A more mature driver with no driving violations and high deductibles may pay as low as $1,700 per year on average for full coverage. Rates are much higher for teen drivers, where even good drivers will be charged upwards of $6,100 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 $1,310 a year in states like New Hampshire, Ohio, and Utah, or be forced to pay as much as $2,440 on average in Florida, Michigan, and New York.

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Using high physical damage deductibles could save up to $970 annually, whereas buying more liability protection will cost you more. Moving from a 50/100 limit to a 250/500 limit will cost as much as $232 extra every 12 months. View Rates by Deductible or Liability Limit

If you like to drive fast or tend to cause accidents, you may be forking out at a minimum $2,100 to $2,800 extra per year, depending on your age. Chevrolet Corvette insurance for high-risk drivers can cost from 46% to 130% more than a normal policy. View High Risk Driver Rates

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 Cheap Chevrolet Corvette Insurance

Saving money on insurance for a Chevrolet Corvette not only requires having a decent driving record, but also having above-average credit, eliminating unnecessary coverage, and possibly raising deductibles. Invest the time to shop around at least every other year by requesting quotes from direct companies like GEICO and Progressive, and also from local insurance agents.

The following items are a brief summary of the car insurance concepts illustrated above.

• Drivers considered higher risk that tend to have accidents or serious violations may be required to pay an average of $2,100 more each year than a driver with a clean driving record
• You may be able to save as much as $230 per year just by quoting online well ahead of the renewal date
• Increasing deductibles can save around $975 each year
• Insureds who require additional liability coverage will pay an extra $280 every year to go from a minimum limit to 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