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 prices for a Chevrolet Corvette are $1,790 every 12 months for full coverage insurance. Comprehensive insurance costs an estimated $494 a year, collision insurance costs $922, and liability costs around $264. A policy with just liability insurance costs as low as $312 a year, and coverage for high-risk drivers costs $3,870 or more. 16-year-old drivers receive the highest rates at up to $6,090 a year.

Average premium for full coverage: $1,790

Rate estimates broken down by individual coverage type:

These estimates include $500 comprehensive and collision deductibles, 30/60 split liability limits, and includes uninsured motorist and medical coverage. Rates are averaged for all 50 states and Corvette trim levels.

Price Range by Coverage and Risk

Price Range by Location

Where you live can make a big difference on the price of insurance. More rural locations tend to have more infrequent physical damage claims than congested cities. The diagram below illustrates how rural and urban location affects insurance prices.

These examples illustrate why it is important to compare prices for a targeted area and their own driving history, instead of making a decision based on rate averages.

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

Additional Rate Information

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

• The best full coverage rate is $977
• Using higher $1,000 deductibles will save approximately $1,470 each year
• The average price for a 40-year-old driver who has $500 deductibles is $1,790
• Buying low $100 deductibles for physical damage coverage costs an extra $628 annually
• High-risk insureds with multiple tickets or accidents could pay up to $3,870
• The cost to insure a 16-year-old driver can cost as much as $6,090 or more

View Chart as Image

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

Opting for high physical damage deductibles could cut rates by as much as $950 annually, while buying higher liability limits will increase premiums. Switching from a 50/100 liability limit to a 250/500 limit will cost as much as $237 more each year. View Rates by Deductible or Liability Limit

Older drivers with no violations or accidents and higher deductibles may pay as low as $1,600 a year for full coverage. Rates are highest for teen drivers, since even excellent drivers should be prepared to pay at least $6,000 a year. View Rates by Age

If you like to drive fast or you were responsible for an accident, you are probably paying $2,100 to $2,800 additional per year, depending on your age. A high-risk auto insurance policy can be from 46% to 132% more than the average rate. View High Risk Driver Rates

Where you live has a huge impact on Chevrolet Corvette insurance prices. A driver around age 40 might see rates as low as $1,170 a year in states like North Carolina, Wisconsin, and Vermont, or at least $2,410 on average in Florida, New York, and Michigan.

View Chart as Image

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 Shop for Cheap Chevrolet Corvette Insurance

Saving money on insurance for a Chevrolet Corvette requires avoiding accidents and violations, having above-average credit, avoid buying unnecessary coverage, and possibly raising deductibles. Set aside time to shop around at least every other year by requesting rates from direct insurance companies like GEICO, Progressive, and Esurance, and also from insurance agencies where you live.

The list below is a brief summary of the car insurance concepts raised in the charts and tables above.

• Drivers considered higher risk that tend to have accidents or serious violations could be forced to pay on average $2,080 more annually for car insurance
• It is possible to save approximately $230 per year just by quoting early and online
• Increasing deductibles could save as much as $950 each year
• Insureds who want higher liability limits will pay around $290 annually to increase from a minimum limit to a 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.

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