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 including full coverage. Comprehensive insurance costs approximately $494 a year, collision insurance costs $922, and liability coverage costs $264. Liability-only coverage costs as little as $312 a year, and high-risk coverage costs $3,870 or more. Teens receive the highest rates at up to $6,090 a year.

Average premium for full coverage: $1,790

Rate estimates by individual coverage type:

Price estimates include $500 deductible amounts, bodily injury liability limits of 30/60, and includes both medical and UM/UIM coverage. Rates are averaged for all 50 U.S. states and Corvette trim levels.

Price Range by Coverage and Risk

Price Range by Location

Your location has a large influence on car insurance prices. Rural locations tend to have a lower frequency of comprehensive and collision claims than cities with more traffic congestion. The diagram below illustrates the effect of geographic area on auto insurance prices.

These examples highlight why it is important to compare rates using their specific location and risk profile, rather than using averaged prices.

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

Rate Comparisons

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

• The cheapest rate after discounts is $977
• Drivers who choose higher $1,000 deductibles will pay $1,470 every year
• The average rate for a 40-year-old driver who chooses $500 deductibles is $1,790
• Selecting low $100 deductibles for comprehensive and collision insurance will cost an extra $628 each year
• High-risk insureds with serious driving violations could pay around $3,870
• The cost for full coverage for a teenage driver can cost $6,090 a year

View Chart as Image

Car insurance rates for a Chevrolet Corvette can also vary considerably based on your driver profile, the model of your Corvette, and physical damage deductibles and liability limits.

Older drivers with no driving violations and high deductibles may only pay around $1,600 per year on average for full coverage. Rates are much higher for teen drivers, where even good drivers will be charged in the ballpark of $6,000 a year. View Rates by Age

Where you live makes a big difference in Chevrolet Corvette insurance rates. A 40-year-old driver could pay as low as $1,370 a year in states like Vermont, New Hampshire, and Missouri, or have to pay at least $2,550 on average in Louisiana, New York, and Michigan.

View Chart as Image

Choosing higher comprehensive and collision insurance deductibles could save up to $950 a year, while buying higher liability limits will push rates upward. Changing from a 50/100 limit to a 250/500 limit will cost as much as $237 extra every 12 months. View Rates by Deductible or Liability Limit

If you like to drive fast or tend to cause accidents, you are likely paying anywhere from $2,100 to $2,800 extra per year, depending on your age. A high-risk auto insurance policy can cost around 46% to 132% more than the average 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 Cheaper Chevrolet Corvette Insurance

Saving money on auto insurance not only requires having a good driving record, but also having above-average credit, not filing small claims, and attention to physical damage deductibles. Take the time to compare rates every other policy renewal by requesting quotes from direct car insurance companies like GEICO and Progressive, and also from insurance agencies where you live.

The next list is a condensed summary of the ideas that were covered in the above illustrations.

• Drivers age 20 and younger pay the highest auto insurance rates, as much as $508 per month if full coverage is included
• Drivers with multiple at-fault accidents could be forced to pay on average $2,080 more per year to buy Chevrolet Corvette insurance
• Increasing deductibles can save around $950 each year
• You may be able to save around $230 per year just by quoting early and online

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