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 auto insurance rates for a Chevrolet Corvette are $1,790 annually with full coverage. Comprehensive costs around $494 each year, collision insurance costs $922, and liability is estimated at $264. A liability-only policy costs approximately $312 a year, and high-risk insurance costs around $3,870. 16-year-old drivers pay the most at up to $6,090 a year.

Average premium for full coverage: $1,790

Premium estimates for type of coverage:

Rate estimates include $500 policy deductibles, 30/60 liability coverage, and includes medical and uninsured motorist coverage. Rates include averaging for all U.S. states and Corvette models.

Insurance Price Range by Risk and Coverage

Insurance Price Range by Location

Living in a larger city can make a big difference on insurance rates. Areas with sparse population are statistically proven to have fewer collision claims than congested cities. The graphic below illustrates how location helps determine auto insurance rates.

These rate differences demonstrate why all drivers should get quotes for a specific zip code and their own personal driving habits, instead of making a decision based on rate averages.

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

Detailed Rate Analysis

The chart below details average Chevrolet Corvette insurance rates for additional coverage choices and driver risks.

• The best full coverage rate is $977
• Choosing higher $1,000 deductibles can save about $320 annually
• The estimated rate for a 40-year-old good driver using $500 deductibles is $1,790
• Buying low deductibles for comp and collision coverage will cost $2,418
• Higher-risk drivers with multiple tickets or accidents could pay at least $3,870
• An auto insurance policy with full coverage for a 16-year-old driver can be $6,090 each year

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Auto insurance prices for a Chevrolet Corvette also have a wide range based on the model of your Corvette, your driving record, and deductibles and policy limits.

More mature drivers with a good driving record and high physical damage deductibles may pay as low as $1,600 annually on average, or $133 per month, for full coverage. Prices are highest for drivers in their teens, where even without any violations or accidents they will have to pay as much as $6,000 a year. View Rates by Age

If you have a few violations or you caused a few accidents, you may be forking out at least $2,100 to $2,800 in extra premium annually, depending on your age. Insurance for high-risk drivers ranges from 46% to 132% more than the average rate. View High Risk Driver Rates

Opting for high physical damage deductibles can save as much as $950 annually, whereas increasing liability limits will increase prices. Moving from a 50/100 bodily injury limit to a 250/500 limit will cost up to $237 extra every year. View Rates by Deductible or Liability Limit

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 $1,290 a year in states like New Hampshire, Ohio, and Utah, or at least $2,410 on average in Florida, Michigan, and New York.

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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 the Best Chevrolet Corvette Insurance

Finding better rates on insurance for a Chevrolet Corvette takes being a good driver, having above-average credit, being claim-free, and possibly raising deductibles. Invest time comparing rates every year by getting quotes from direct companies, and also from local exclusive and independent agents.

The following list is a brief recap of the coverage data covered in the charts and tables above.

• You may be able to save up to $230 per year just by quoting online in advance
• Increasing policy deductibles could save up to $950 each year
• Drivers age 16 to 20 are expensive to insure, possibly costing $508 per month if full coverage is included
• Drivers considered higher risk who tend to receive serious violations may pay on average $2,080 more every year than a safer driver

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