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.

Estimated insurance rates for a Chevrolet Corvette are $1,762 a year for full coverage. Comprehensive costs an estimated $478 each year, collision insurance costs $900, and liability insurance costs $274. Liability-only insurance costs as little as $322 a year, and high-risk driver insurance costs around $3,816. 16-year-old drivers pay the most at up to $6,030 a year.

Average premium for full coverage: $1,762

Premium estimates broken down by type of coverage:

Prices are based on $500 physical damage deductibles, bodily injury liability limits of 30/60, and includes medical/PIP and uninsured motorist coverage. Rates include averaging for all states and Corvette models.

Insurance Price Range by Risk and Coverage

Insurance Price Range by Location

Your location has a significant impact on insurance rates. More rural locations are statistically proven to have lower incidents of accident claims than congested cities. The graphic below illustrates how location impacts insurance prices.

These rate differences show why all drivers should compare rates for a targeted area, rather than relying on rate averages.

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

Additional Charts and Tables

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

• The best full coverage rate is $963
• Drivers who choose higher $1,000 deductibles will pay approximately $312 a year
• The estimated price for a 40-year-old good driver who has $500 deductibles is $1,762
• Buying low deductibles for comprehensive and collision insurance bumps up the cost to $2,370
• High risk drivers with multiple tickets or accidents could pay up to $3,816
• An auto insurance policy that insures a teen driver can cost as much as $6,030 a year

View Chart as Image

Insurance prices for a Chevrolet Corvette also have a wide range based on the trim level and model year, how you drive, and liability limits and deductibles.

If you have a few violations or you caused an accident, you could be paying $2,100 to $2,800 additional annually, depending on your age. Insurance for high-risk drivers can cost anywhere from 46% to 134% more than the average rate. View High Risk Driver Rates

More mature drivers with no violations or accidents and higher comprehensive and collision deductibles could pay as little as $1,600 per year on average, or $133 per month, for full coverage. Prices are highest for drivers in their teens, since even teens with perfect driving records should be prepared to pay at least $6,000 a year. View Rates by Age

Where you choose to live makes a big difference in Chevrolet Corvette insurance rates. A 40-year-old driver could pay as low as $1,160 a year in states like Iowa, Maine, and Idaho, or at least $2,510 on average in New York, Louisiana, and Michigan.

View Chart as Image

Opting for high physical damage deductibles could save up to $920 each year, whereas increasing liability limits will increase premiums. Going from a 50/100 bodily injury protection limit to a 250/500 limit will cost up to $246 more each year. View Rates by Deductible or Liability Limit

Insurance Rates by Trim Level and Model Year

Rates assume 2020 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 Affordable Chevrolet Corvette Insurance

Finding better rates on Chevrolet Corvette insurance not only requires being a safe and courteous driver, but also having a good credit score, not filing small claims, and possibly raising deductibles. Comparison shop every other policy renewal by getting quotes from direct carriers, and also from your local independent and exclusive agents.

Below is a brief review of the ideas that were touched on above.

• Teenage drivers are expensive to insure, as much as $503 per month if comprehensive and collision insurance is included
• High-risk drivers with DUI or reckless driving convictions may pay on average $2,050 more annually for auto insurance
• Increasing policy deductibles can save approximately $925 each year
• Drivers can save approximately $230 per year just by quoting online in advance

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