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 for full coverage insurance. Comprehensive costs on average $516, collision insurance costs $930, and liability is estimated at $258. Buying just liability costs approximately $306 a year, and insurance for high-risk drivers costs around $3,910. 16-year-old 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:

Price estimates include $500 physical damage insurance deductibles, liability coverage up to 30/60, and includes both medical and uninsured motorist insurance. Rates are averaged for all 50 states and for all Corvette models.

Price Range by Coverage and Risk

Price Range by Location

Living in a larger city can have significant affects on insurance rates. Rural areas tend to have a lower frequency of physical damage claims than congested cities. The example below illustrates the difference location can make on car insurance rates.

These examples illustrate why everyone should get quotes based on a specific location and risk profile, instead of using rate averages.

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

Additional Rate Details

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

• The best full coverage rate is $994
• Choosing higher $1,000 deductibles can save around $328 each year
• The average rate for a 40-year-old driver with $500 deductibles is $1,814
• Buying pricier low deductibles for comp and collision coverage will increase the cost to $2,452
• Unlucky drivers with multiple tickets or accidents could pay upwards of $3,910
• The cost for full coverage for a teen driver for full coverage may cost $6,122 each year

View Chart as Image

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

A more mature driver with a good driving record and high deductibles may pay as little as $1,700 annually on average for full coverage. Rates are highest for teen drivers, where even good drivers will have to pay upwards of $6,100 a year. View Rates by Age

Where you live plays a big part in determining prices for Chevrolet Corvette insurance prices. A good driver about age 40 could pay as low as $1,180 a year in states like Vermont, Wisconsin, and North Carolina, or at least $2,440 on average in Michigan, New York, and Florida.

View Chart as Image

Opting for high physical damage deductibles can save as much as $970 every year, whereas buying more liability protection will cost you more. Switching from a 50/100 limit to a 250/500 limit will cost as much as $232 extra every year. View Rates by Deductible or Liability Limit

If you like to drive fast or tend to cause accidents, you are probably paying at a minimum $2,100 to $2,800 in extra premium per year, depending on your age. Chevrolet Corvette insurance for high-risk drivers ranges as much as 46% to 130% more than the average rate. 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 car insurance takes being a low-risk driver, having good credit, avoid buying unnecessary coverage, and deciding if full coverage is necessary. Make time to compare rates every time your policy renews by obtaining price quotes from direct insurance companies like GEICO and Progressive, and also from local independent and exclusive agents.

The items below are a condensed summary of the information touched on in this article.

• It is possible to save as much as $230 per year just by quoting online well ahead of the renewal date
• Teen drivers are charged the highest rates, costing up to $510 per month if they have full coverage
• Increasing deductibles can save around $975 each year
• Higher risk drivers with multiple at-fault accidents pay an average of $2,100 more each year to insure their Corvette
• Policyholders who require more liability coverage will pay around $280 annually to raise limits 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