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 $1,790 a year for full coverage. Comprehensive insurance costs approximately $494 a year, collision costs $922, and liability costs around $264. Buying just liability costs as low as $312 a year, with insurance for high-risk drivers costing $3,870 or more. Teens receive the highest rates at $6,090 a year or more.

Average premium for full coverage: $1,790

Rate estimates by individual coverage type:

Rates are based on $500 policy deductibles, minimum liability limits, and includes medical and uninsured motorist coverage. Rates are averaged for all states and Corvette trim levels.

Price Range by Coverage and Risk

Price Range by Location

Where you live can have significant affects on car insurance rates. Rural locations tend to have lower incidents of accident claims than cities with more traffic congestion.

The diagram below illustrates how location impacts auto insurance prices.

These examples show why it is important to compare prices using their specific location, instead of using averaged prices.

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

Detailed Rate Analysis

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

• The cheapest rate after discounts is $977
• Using higher $1,000 deductibles will save $1,470 a year
• The estimated price for a 40-year-old driver who chooses $500 deductibles is $1,790
• Selecting low $100 deductibles for physical damage coverage will cost an additional $628 every year
• Drivers with serious driving violations could pay around $3,870 or more
• The cost that insures a teen driver can cost $6,090 or more

View Chart as Image

Auto insurance rates for a Chevrolet Corvette can also vary considerably based on the trim level of your Corvette, how you drive, and physical damage deductibles and liability limits.

If you like to drive fast or you caused an accident, you could be paying anywhere from $2,100 to $2,800 in extra premium per year, depending on your age. A high-risk auto insurance policy can be as much as 46% to 132% more than the average policy. View High Risk Driver Rates

Older drivers with a good driving record and higher comprehensive and collision deductibles may pay as little as $1,600 a year for full coverage. Rates are much higher for teen drivers, since even teens with perfect driving records will have to pay in the ballpark of $6,000 a year. View Rates by Age

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

View Chart as Image

Choosing higher comprehensive and collision insurance deductibles could cut rates by as much as $950 every year, while buying higher liability limits will push rates upward. Going from a 50/100 bodily injury protection limit to a 250/500 limit will cost as much as $237 extra every year. View Rates by Deductible or Liability Limit

With so much variability in rates, the only way to know who has the cheapest car insurance rates is to get quotes and see which company has the best rate. Each insurance company calculates rates differently, and quoted rates can be significantly 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 the Best Cheap Chevrolet Corvette Insurance

Saving money on car insurance requires being a good driver, maintaining a good credit score, eliminating unneeded coverage, and not having any coverage lapses. Compare rates every couple of years by obtaining price quotes from direct carriers like Progressive, GEICO, and Esurance, and also from insurance agencies where you live.

The following list is a quick review of the material that was touched on above.

• Policyholders who purchase an increased level of liability coverage will pay approximately $290 each year to increase from a minimum limit to the 250/500 level
• Drivers age 16 to 20 have the highest car insurance rates, costing as high as $508 per month if the policy includes full coverage
• Higher risk drivers with a DUI or reckless driving violation could be forced to pay on average $2,080 more per year than a safer driver
• Increasing deductibles can save approximately $950 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.

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