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

Average premium for full coverage: $1,790

Price estimates by individual coverage:

Estimates include $500 policy deductibles, bodily injury liability limits of 30/60, and includes UM/UIM and medical coverage. Estimates are averaged for all U.S. states and Corvette trim levels.

Price Range from Low to High

Geographic Price Range

Choosing to live in a large city has a large influence on the price of insurance. Rural locations have fewer collision claims than cities with more traffic congestion. The diagram below illustrates how location helps determine auto insurance prices.

The ranges above demonstrate why it is important to compare rates quotes using their specific location and their own personal driving habits, rather than using averaged prices.

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

Rates by State, City, and Model

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

• The cheapest rate after discounts is $977
• Raising to $1,000 deductibles will save $1,470 annually
• The estimated rate for the average middle-age driver who chooses $500 deductibles is $1,790
• Selecting low $100 deductibles costs an additional $628 each year
• Unlucky drivers with serious driving violations could pay around $3,870
• The price with full coverage for a teenage driver can cost $6,090

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Auto insurance prices for a Chevrolet Corvette are also quite variable based on the trim level and model year, your driving record, and physical damage deductibles and liability limits.

Older drivers with a good driving record and high physical damage deductibles may only pay around $1,600 every 12 months on average for full coverage. Prices are much higher for teenage drivers, where even without any violations or accidents they will have 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 may be forking out anywhere from $2,100 to $2,800 in extra premium each year, depending on your age. A high-risk auto insurance policy is expensive and can cost around 46% to 132% more than the average policy. View High Risk Driver Rates

Choosing higher comprehensive and collision insurance deductibles can reduce prices by up to $950 a year, while buying higher liability limits will push prices upward. Moving from a 50/100 bodily injury limit to a 250/500 limit will increase prices by as much as $237 extra every year. View Rates by Deductible or Liability Limit

The state you live in also has a big influence on Chevrolet Corvette insurance rates. A middle-age driver might find prices as low as $1,290 a year in states like Utah, Ohio, and New Hampshire, or have to pay at least $2,410 on average in New York, Michigan, and Florida.

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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 Low Cost Chevrolet Corvette Insurance

Getting lower rates on auto insurance consists of avoiding accidents and claims, having above-average credit, avoid buying unnecessary coverage, and possibly higher deductibles. Invest time comparing rates every other policy renewal by obtaining price quotes from direct companies like GEICO, Progressive, and Esurance, and also from your local independent and exclusive agents.

The points below are a review of the ideas that were covered in the charts and tables above.

• Drivers under the age of 20 have the highest car insurance prices, costing up to $508 a month if full coverage is included
• Drivers who have several accidents or serious violations may pay on average $2,080 more per year to insure a Chevrolet Corvette
• Increasing physical damage deductibles could save up to $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