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.

U.S. average insurance rates for a Chevrolet Corvette are $1,814 a year for full coverage. Comprehensive insurance costs approximately $516, collision costs $930, and liability costs around $258. Buying just liability costs as low as $306 a year, with insurance for high-risk drivers costing $3,910 or more. 16-year-old drivers pay the highest rates at $6,122 a year or more.

Average premium for full coverage: $1,814

Price estimates by individual coverage:

Prices include $500 deductible amounts, 30/60 liability limits, and includes medical/PIP and uninsured motorist coverage. Estimates are averaged for all states and for different Corvette trim levels.

Price Range from Low to High

Geographic Price Range

Where you live can make a big difference on car insurance rates. Rural locations have a lower frequency of accident claims than congested cities.

The price range example below illustrates how geographic area affects auto insurance prices.

The ranges above show why anyone shopping for car insurance should compare prices using their specific location and risk profile, instead of making a decision based on rate averages.

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

Additional Charts and Tables

The chart below shows estimated Chevrolet Corvette insurance rates for additional coverage and risk scenarios.

• The best full coverage rate is $994
• Using higher $1,000 deductibles will save $328 a year
• The average rate for the average middle-age driver who chooses $500 deductibles is $1,814
• Buying more expensive low deductibles for physical damage coverage will cost an extra $638 annually
• High-risk insureds with multiple tickets or accidents could pay around $3,910 or more
• The price for full coverage for a 16-year-old driver with full coverage can cost $6,122 or more

View Chart as Image

Insurance prices for a Chevrolet Corvette are also quite variable based on your driving record, the trim level of your Corvette, and physical damage deductibles and liability limits.

An older driver with no violations or accidents and high deductibles may pay as low as $1,700 a year for full coverage. Prices are highest for teenage drivers, where even good drivers should be prepared to pay in the ballpark of $6,100 a year. View Rates by Age

The state you live in has a huge impact on Chevrolet Corvette insurance prices. A driver around age 40 might see prices as low as $1,190 a year in states like Iowa, Maine, and Idaho, or at least $2,580 on average in New York, Louisiana, and Michigan.

View Chart as Image

Opting for high physical damage deductibles could cut prices by as much as $970 annually, while increasing your policy's liability limits will push prices upward. Going from a 50/100 limit to a 250/500 limit will increase prices by as much as $232 more each year. View Rates by Deductible or Liability Limit

If you have some driving violations or tend to cause accidents, you could be paying anywhere from $2,100 to $2,800 additional each year, depending on your age. High-risk driver insurance can be from 46% to 130% more than the average rate. View High Risk Driver Rates

Since prices can be so different, the only way to know who has the cheapest car insurance prices is to compare prices from multiple companies. Each insurance company utilizes a different rate formula, and prices may be quite different from one company to the next.

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 the Right Chevrolet Corvette Insurance

Getting lower rates on insurance for a Chevrolet Corvette requires having a good driving record, having a good credit history, eliminating unnecessary coverage, and qualifying for all possible discounts. Invest the time to compare rates at every policy renewal by requesting quotes from direct carriers like Progressive and GEICO, and also from local exclusive and independent agents.

The next list is a quick rundown of the data presented in the illustrations above.

• Insureds who purchase increased levels of liability coverage will pay around $280 each year to increase from a low limit to 250/500 limits
• Drivers can save around $230 per year simply by shopping early and online
• Increasing physical damage deductibles can save around $975 each year
• Drivers age 20 and younger are the costliest to insure, with premiums as much as $510 a month including comprehensive and collision insurance

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