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 $1,864 annually with full coverage. Comprehensive costs an estimated $540 each year, collision insurance costs $968, and liability costs around $246. Liability-only coverage costs as low as $298 a year, and high-risk coverage costs around $4,018. Teenage drivers pay the highest rates at up to $6,252 a year.

Average premium for full coverage: $1,864

Price estimates broken down by individual coverage:

Rate estimates include $500 policy deductibles, 30/60 liability limits, and includes medical and UM/UIM coverage. Estimates are averaged for all U.S. states and Corvette models.

Price Range from Low to High

Geographic Price Range

Where you live can make a big difference on car insurance rates. More rural locations have fewer collision claims than densely populated cities. The graphic below illustrates the effect of geographic area on insurance prices.

The ranges above demonstrate why all drivers should compare prices for a targeted area and their own personal driving habits, instead of making a decision based on average rates.

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

More Rate Details

The chart below details average Chevrolet Corvette insurance rates for other coverage scenarios.

• The best discount rate is $1,021
• Using higher $1,000 deductibles will save approximately $344 annually
• The estimated rate for the average middle-age driver who has $500 deductibles is $1,864
• Using low deductibles for physical damage coverage will cost $2,528
• High-risk insureds who are prone to accidents and violations could pay up to $4,018
• The price with full coverage for a 16-year-old driver can cost as much as $6,252 or more

View Chart as Image

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

More mature drivers with a good driving record and high physical damage deductibles may pay as low as $1,700 a year for full coverage. Prices are much higher for teenage drivers, where even without any violations or accidents they will have to pay at least $6,200 a year. View Rates by Age

If you have some driving violations or you caused a few accidents, you may be forking out $2,200 to $2,900 in extra premium each year, depending on your age. Insurance for high-risk drivers can be from 46% to 133% more than a normal policy. View High Risk Driver Rates

Using high physical damage deductibles could cut prices by as much as $1,010 annually, whereas increasing liability limits will increase premiums. Moving from a 50/100 bodily injury limit to a 250/500 limit will increase prices by as much as $222 extra every year. View Rates by Deductible or Liability Limit

The state you live in has a huge impact on Chevrolet Corvette insurance prices. A driver around age 40 might see prices as low as $1,340 a year in states like Utah, Ohio, and New Hampshire, or be forced to pay as much as $2,510 on average in New York, Michigan, and Florida.

View Chart as Image

Insurance Rates by Trim Level and Model Year

Rates assume 2024 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 the Best Chevrolet Corvette Insurance

Getting lower rates on insurance for a Chevrolet Corvette requires avoiding accidents and claims, having above-average credit, avoid buying unnecessary coverage, and consideration of higher deductibles. Take the time to compare rates at every policy renewal by obtaining price quotes from direct companies like GEICO, Progressive, and Esurance, and also from several local insurance agents.

The points below are a brief recap of the data covered in the above illustrations.

• Insureds who want increased liability limits will pay an extra $270 every year to increase from a low limit to higher 250/500 limits
• You may be able to save approximately $240 per year just by quoting online in advance
• Increasing physical damage deductibles could save up to $1,000 each year
• Drivers under the age of 20 are the costliest to insure, costing up to $521 a month if full coverage is included

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