Chevrolet Corvette Insurance Rates

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Tonya Sisler

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Tonya Sisler has been a technical insurance writer for over five years. She uses her extensive insurance and finance knowledge to write informative articles that answer readers' top questions. Her mission is to provide readers with timely, accurate information that allows them to determine their insurance needs and choose the best coverage. Tonya currently leads a team of 10 insurance copywrite...

Content Team Lead

UPDATED: Mar 15, 2023

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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 $1,718 a year with full coverage. Comprehensive insurance costs an estimated $462 each year, collision costs $862, and liability is estimated at $284. Liability-only coverage costs approximately $328 a year, with high-risk coverage costing $3,718 or more. 16-year-old drivers pay the most at $5,902 a year or more.

Average premium for full coverage: $1,718

Premium estimates broken down by type of coverage:

Comprehensive $462
Collision $862
Liability $284

Full coverage includes $500 policy deductibles, liability coverage up to 30/60, and includes both medical and uninsured motorist insurance. Rates include averaging for all U.S. states and Corvette models.

Insurance Price Range by Risk and Coverage

Using a 40-year-old driver as an example, insurance rates for a Chevrolet Corvette go from the low end price of $328 for minimum levels of liability insurance to a high rate of $3,718 for a high-risk driver policy.

Liability Only $328
Full Coverage $1,718
High Risk $3,718

Insurance Price Range by Location

Living in a larger city can have significant affects on car insurance rates. More rural locations are statistically proven to have lower incidents of collision claims than congested cities.

The graphic below illustrates how rural and urban location affects insurance prices.

Rural Areas $1,289
Small Cities $1,804
Large Cities $2,319

These rate differences demonstrate why all drivers should get quotes for a targeted area, instead of using rate averages.

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

Enter your zip code below to view companies based on your location that have cheap auto insurance rates.

Additional Rate Details

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

  • The best full coverage rate is $942
  • Choosing higher $1,000 deductibles can save approximately $300 annually
  • The estimated price for a 40-year-old good driver who has $500 deductibles is $1,718
  • Buying low deductibles for comp and collision coverage will cost an additional $586 every year
  • Unlucky drivers with multiple tickets or accidents could pay up to $3,718 or more
  • An auto insurance policy that insures a teen driver can cost as much as $5,902 each year

View Chart as Image

Chevrolet Corvette insurance cost comparison chart
Column chart showing full coverage Chevrolet Corvette insurance prices range from $942 to $5,902

Insurance prices for a Chevrolet Corvette also have a wide range based on the trim level and model year, your age and driving habits, and liability limits and deductibles.

If you have a few violations or you caused an accident, you may be forking out $2,000 to $2,700 extra annually, depending on your age. Insurance for high-risk drivers ranges as much as 46% to 131% more than the average rate. View High Risk Driver Rates

More mature drivers with a clean driving record and higher comprehensive and collision deductibles may pay as little as $1,600 annually on average, or $133 per month, for full coverage. Prices are highest for drivers in their teens, since even teens with perfect driving records can expect to pay at least $5,900 a year. View Rates by Age

Where you choose to live plays a big part in determining prices for Chevrolet Corvette insurance prices. A good driver about age 40 could pay as low as $1,240 a year in states like Utah, Ohio, and New Hampshire, or at least $2,320 on average in New York, Michigan, and Florida.

Chevrolet Corvette Insurance Rates by State
State Premium Compared to U.S. Avg Percent Difference
Alabama $1,552 -$166 -9.7%
Alaska $1,318 -$400 -23.3%
Arizona $1,426 -$292 -17.0%
Arkansas $1,718 -$0 0.0%
California $1,956 $238 13.9%
Colorado $1,638 -$80 -4.7%
Connecticut $1,764 $46 2.7%
Delaware $1,942 $224 13.0%
Florida $2,144 $426 24.8%
Georgia $1,586 -$132 -7.7%
Hawaii $1,236 -$482 -28.1%
Idaho $1,162 -$556 -32.4%
Illinois $1,282 -$436 -25.4%
Indiana $1,294 -$424 -24.7%
Iowa $1,160 -$558 -32.5%
Kansas $1,632 -$86 -5.0%
Kentucky $2,340 $622 36.2%
Louisiana $2,542 $824 48.0%
Maine $1,056 -$662 -38.5%
Maryland $1,416 -$302 -17.6%
Massachusetts $1,370 -$348 -20.3%
Michigan $2,980 $1,262 73.5%
Minnesota $1,438 -$280 -16.3%
Mississippi $2,058 $340 19.8%
Missouri $1,524 -$194 -11.3%
Montana $1,846 $128 7.5%
Nebraska $1,354 -$364 -21.2%
Nevada $2,058 $340 19.8%
New Hampshire $1,238 -$480 -27.9%
New Jersey $1,918 $200 11.6%
New Mexico $1,518 -$200 -11.6%
New York $1,808 $90 5.2%
North Carolina $988 -$730 -42.5%
North Dakota $1,406 -$312 -18.2%
Ohio $1,186 -$532 -31.0%
Oklahoma $1,762 $44 2.6%
Oregon $1,574 -$144 -8.4%
Pennsylvania $1,636 -$82 -4.8%
Rhode Island $2,288 $570 33.2%
South Carolina $1,556 -$162 -9.4%
South Dakota $1,450 -$268 -15.6%
Tennessee $1,504 -$214 -12.5%
Texas $2,070 $352 20.5%
Utah $1,272 -$446 -26.0%
Vermont $1,174 -$544 -31.7%
Virginia $1,030 -$688 -40.0%
Washington $1,324 -$394 -22.9%
West Virginia $1,576 -$142 -8.3%
Wisconsin $1,190 -$528 -30.7%
Wyoming $1,526 -$192 -11.2%

View Chart as Image

Chevrolet Corvette insurance rates by U.S. city

Opting for high physical damage deductibles can save as much as $890 every year, whereas increasing liability limits will increase premiums. Moving from a 50/100 bodily injury protection limit to a 250/500 limit will cost up to $255 more per year. View Rates by Deductible or Liability Limit

With such a large range in prices, the best way to find out which insurance company is cheapest is to do a rate comparison and see which company has the best price. Each auto insurer utilizes a different rate formula, so the prices will be substantially different.

Insurance Rates by Trim Level and Model Year

Chevrolet Corvette Insurance Rates by Model and Trim Level
Model and Trim Annual Premium Monthly Premium
Chevrolet Corvette 2-Dr Coupe $1,430 $119
Chevrolet Corvette GS 2-Dr Coupe $1,588 $132
Chevrolet Corvette 2-Dr Convertible $1,734 $145
Chevrolet Corvette GS 2-Dr Convertible $1,812 $151
Chevrolet Corvette Z06 2-Dr Coupe $1,746 $146
Chevrolet Corvette ZR1 2-Dr Coupe $2,230 $186

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.

Chevrolet Corvette Insurance Rates by Model Year
Model Year Comprehensive Collision Liability Total Premium
2020 Chevrolet Corvette $462 $862 $284 $1,718
2018 Chevrolet Corvette $420 $772 $298 $1,600
2017 Chevrolet Corvette $402 $728 $300 $1,540
2016 Chevrolet Corvette $386 $652 $304 $1,452
2015 Chevrolet Corvette $360 $600 $304 $1,374
2014 Chevrolet Corvette $348 $562 $306 $1,326
2013 Chevrolet Corvette $340 $526 $312 $1,288
2012 Chevrolet Corvette $314 $488 $312 $1,224
2011 Chevrolet Corvette $306 $442 $316 $1,174
2009 Chevrolet Corvette $268 $368 $312 $1,058
2008 Chevrolet Corvette $260 $330 $310 $1,010
2007 Chevrolet Corvette $256 $322 $304 $992
2006 Chevrolet Corvette $252 $308 $298 $968
2005 Chevrolet Corvette $230 $292 $294 $926
2004 Chevrolet Corvette $222 $278 $292 $902

Rates are averaged for all Chevrolet Corvette models and trim levels. Rates assume a 40-year-old male driver, full coverage with $500 deductibles, and a clean driving record.

How to Find More Affordable Chevrolet Corvette Insurance

Finding better rates on car insurance takes being safe and accident-free, having above-average credit, being claim-free, and taking advantage of discounts. Comparison shop every time your policy renews by requesting rates from direct companies, and also from insurance agencies where you live.

Below you'll find a summary of the information raised in the charts and tables above.

  • You may be able to save approximately $220 per year simply by quoting online in advance
  • Youthful drivers are charged the highest prices, possibly costing $492 per month if full coverage is included
  • Increasing policy deductibles can save approximately $875 each year
  • Higher risk drivers who have multiple accidents or major violations could be forced to pay on average $2,000 more annually than a low-risk driver
  • Policyholders who want more liability protection will pay around $310 every year to raise limits from 30/60 bodily injury limits to the 250/500 level

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.

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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.

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

Rates by Driver Age

Chevrolet Corvette Insurance Rates by Driver Age
Driver Age Premium
16 $5,902
20 $3,940
30 $1,828
40 $1,718
50 $1,562
60 $1,532

Full coverage, $500 deductibles

Rates by Deductible

Chevrolet Corvette Insurance Rates with Different Deductibles
Deductible Premium
$100 $2,304
$250 $2,032
$500 $1,718
$1,000 $1,418

Full coverage, driver age 40

Rates by Liability Limit

Chevrolet Corvette Insurance Rates with Different Liability Limits
Liability Limit Premium
30/60 $1,718
50/100 $2,287
100/300 $2,358
250/500 $2,542
100 CSL $2,315
300 CSL $2,471
500 CSL $2,585

Full coverage, driver age 40

Rates for High Risk Drivers

Chevrolet Corvette Insurance Rates for High Risk Drivers
Age Premium
16 $8,542
20 $6,276
30 $3,840
40 $3,718
50 $3,540
60 $3,506

Full coverage, $500 deductibles, two speeding tickets, and one at-fault accident

If a financial responsibility filing is required, the additional charge below may also apply.

SR-22 Surcharge $246

Potential Rate Discounts

If you qualify for discounts, you may save the amounts shown below.

Discount Savings
Multi-policy $96
Multi-vehicle $88
Homeowner $22
5-yr Accident Free $143
5-yr Claim Free $115
Paid in Full/EFT $91
Advance Quote $92
Online Quote $129
Total Discounts $776
Rate after discounts $942

Discounts are estimated and may not be available from every company or in every state.

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