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 $1,814 a year with full coverage. Comprehensive insurance costs around $516, collision insurance costs $930, and liability is $258. Liability-only coverage costs around $306 a year, and high-risk coverage costs $3,910 or more. Teens pay the most at up to $6,122 a year.

Average premium for full coverage: $1,814

Premium estimates for type of coverage:

Price estimates include $500 physical damage insurance deductibles, liability limits of 30/60, and includes additional medical/uninsured motorist coverage. Rates include averaging for all U.S. states and for different Corvette trim levels.

Insurance Price Range by Risk and Coverage

Insurance Price Range by Location

Choosing to live in a large city can make a big difference on insurance rates. Areas with sparse population are statistically proven to have lower incidents of collision claims than cities with more traffic congestion. The price range example below illustrates the difference between rural and urban areas on auto insurance rates.

These rate differences demonstrate why anyone shopping for car insurance should compare rates quotes for a specific zip code, instead of making a decision based on averaged prices.

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

Additional Rate Analysis

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

• The cheapest rate after discounts is $994
• Raising to $1,000 deductibles will save about $328 annually
• The estimated price for a 40-year-old good driver using $500 deductibles is $1,814
• Selecting more expensive low deductibles will cost an additional $638 annually
• Drivers with serious driving violations could pay at least $3,910
• An auto insurance policy that insures a 16-year-old driver with full coverage can be $6,122

View Chart as Image

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

If you have a few violations or you caused an accident, you may be forking out at least $2,100 to $2,800 extra annually, depending on your age. High-risk driver insurance is expensive and can cost from 46% to 130% more than the average policy. View High Risk Driver Rates

An older driver with a clean driving record and higher comprehensive and collision deductibles may pay as low as $1,700 every 12 months on average, or $142 per month, for full coverage. Prices are much higher for drivers in their teens, since even teens with perfect driving records can expect to pay as much as $6,100 a year. View Rates by Age

Where you choose to live also has a big influence on Chevrolet Corvette insurance prices. A middle-age driver might find prices as low as $1,310 a year in states like New Hampshire, Ohio, and Utah, or have to pay at least $2,440 on average in Florida, Michigan, and New York.

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Choosing higher comprehensive and collision insurance deductibles can reduce prices by up to $970 annually, while increasing your policy's liability limits will increase prices. Moving from a 50/100 bodily injury protection limit to a 250/500 limit will cost up to $232 more per year. View Rates by Deductible or Liability Limit

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 Find Cheaper Chevrolet Corvette Insurance

Finding better rates on insurance for a Chevrolet Corvette consists of being a low-risk driver, having above-average credit, being claim-free, and dropping full coverage on older vehicles. Compare rates once a year by requesting rates from direct companies, and also from your local independent and exclusive agents.

The items below are a condensed summary of the data that was covered above.

• You may be able to save up to $230 per year just by shopping early and online
• Insureds who may need more liability coverage will pay approximately $280 every year to raise from 30/60 bodily injury limits to the 250/500 level
• Teen drivers pay higher prices, possibly costing $510 per month if full coverage is included
• Drivers considered higher risk with multiple at-fault accidents may pay on average $2,100 more every year to insure their Corvette

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