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 $1,790 a year for full coverage insurance. Comprehensive costs around $494, collision insurance costs $922, and liability coverage is $264. Buying just liability costs around $312 a year, and insurance for high-risk drivers costs around $3,870. Teen drivers cost the most to insure at up to $6,090 a year.

Average premium for full coverage: $1,790

Policy rates for type of insurance:

Includes $500 policy deductibles, 30/60 split liability limits, and includes medical and UM/UIM coverage. Prices are averaged for all 50 states and for different Corvette trim levels.

Price Range Variability

Urban vs. Rural Price Range

Choosing to live in a large city has a large influence on car insurance rates. Areas with sparse population are shown to have lower incidents of physical damage claims than larger metro areas. The price range example below illustrates how rural and urban location affects auto insurance rates.

The examples above illustrate why anyone shopping for car insurance should compare rates quotes for a specific zip code, rather than using price averages.

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

More Rate Details

The chart below illustrates average Chevrolet Corvette insurance rates for additional coverage choices and driver risks.

• The lowest rate with discounts is $977
• Raising to $1,000 deductibles will save about $320 each year
• The estimated price for a good driver age 40 using $500 deductibles is $1,790
• Choosing more expensive low deductibles bumps up the cost to $2,418
• Unlucky drivers with multiple violations and an at-fault accident could pay at least $3,870
• Policy cost that insures a teenage driver with full coverage can be $6,090

View Chart as Image

Insurance rates for a Chevrolet Corvette also range considerably based on the model year and trim level, your age and driving record, and deductibles and policy limits.

If you have a few points on your driving record or you caused an accident, you are probably paying at least $2,100 to $2,800 extra every year, depending on your age. High-risk driver insurance is expensive and can cost around 46% to 132% more than average. View High Risk Driver Rates

An older driver with a clean driving record and higher comprehensive and collision deductibles may only pay around $1,600 every 12 months on average, or $133 per month, for full coverage. Rates are highest for teenagers, since even teens with perfect driving records can expect to pay as much as $6,000 a year. View Rates by Age

Your home state also has a big influence on Chevrolet Corvette insurance rates. A middle-age driver might find rates as low as $1,170 a year in states like Vermont, Wisconsin, and North Carolina, or as much as $2,410 on average in Michigan, New York, and Florida.

View Chart as Image

Choosing high deductibles can reduce rates by up to $950 a year, while increasing your policy's liability limits will increase rates. Switching from a 50/100 bodily injury protection limit to a 250/500 limit will raise rates by up to $237 more per 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 Cheapest Chevrolet Corvette Insurance

Finding cheaper rates on auto insurance consists of avoiding accidents and claims, having above-average credit, being claim-free, and dropping full coverage on older vehicles. Shop around at least every other year by requesting rates from direct insurance companies, and also from insurance agencies where you live.

The points below are a recap of the car insurance concepts raised in the charts and tables above.

• Drivers that have major violations or accidents could be forced to pay on average $2,080 more every year to insure a Chevrolet Corvette
• It is possible to save up to $230 per year just by shopping early and online
• Increasing comprehensive and collision deductibles can save approximately $950 each year
• Consumers who may need increased liability limits will pay about $290 annually to raise 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