Chevrolet Corvette, popular as “Vett,” is America’s Sports Car. Chevrolet manufactures this two-door, two-passenger car. Falling under the sports car class, the insurance rates are calculated based on high performance, safety features, and theft rates.
The recent model of the Chevrolet Corvette evolved over eight generations, is a luxury sports car with a recent model costing in the range of $60,900 to $79,850. Compared to other sports cars with similar specs, the lower price range heavily influences the insurance rate.
Here, we look at the different things that affect how much car insurance costs for a Chevrolet Corvette, the cheapest insurance company for the model, and if there are any discounts available on insurance for this sports car from Chevrolet.
A Chevrolet Corvette's average car insurance cost is $1928 per year. It costs $166 per month for full coverage. However, the model year and trim level greatly impact the insurance rates of this high-end sports car.
Chevrolet Corvette is a high-end sports car. Since it falls under the sports car category, the insurance rates for the Corvette models tend to be expensive compared to several other cars in the same category. For example, it costs less to insure a Chevrolet Corvette when compared to models like BMW M3, Chevrolet Camaro, and Porsche Taycan.
| Make/Model | Average Annual Insurance Cost |
|---|---|
| Mazda MX-5 Miata | $1,328 |
| Ford Mustang | $1,613 |
| BMW Z4 | $1,648 |
| Subaru WRX | $1,740 |
| Toyota GR86 | $1,782 |
| Toyota GR Supra | $1,823 |
| Audi TT | $1,862 |
| Subaru BRZ | $1,922 |
| Chevrolet Corvette | $1,928 |
| BMW M3 | $1,980 |
| Porsche 718 | $2,070 |
| Chevrolet Camaro | $2,118 |
| Lexus RC F | $2,168 |
| Dodge Challenger | $2,176 |
| Mercedes-Benz AMG GT53 | $2,208 |
| Jaguar F-Type | $2,310 |
| Porsche Taycan | $2,372 |
| Porsche 911 | $2,432 |
The amount of money you could save by insuring an older vehicle depends on the policy's coverage limits and deductibles. For example, you could save at least $600 on annual insurance if you opt for a 2013 Corvette instead of a 2022 model. The monthly rates for a used Corvette model will range between $166 and 115.
Chevrolet Corvette Insurance Cost for 2013-2022 Used Models
| Model Year | Annual Rate | 6-month Rate | Monthly Rate |
|---|---|---|---|
| 2022 Chevrolet Corvette | $1928 | $967 | $166 |
| 2021 Chevrolet Corvette | $1852 | $929 | $160 |
| 2020 Chevrolet Corvette | $1806 | $906 | $156 |
| 2019 Chevrolet Corvette | $1938 | $972 | $167 |
| 2018 Chevrolet Corvette | $1786 | $896 | $153 |
| 2017 Chevrolet Corvette | $1734 | $870 | $150 |
| 2016 Chevrolet Corvette | $1784 | $895 | $154 |
| 2015 Chevrolet Corvette | $1678 | $842 | $145 |
| 2014 Chevrolet Corvette | $1226 | $616 | $108 |
| 2013 Chevrolet Corvette | $1318 | $662 | $115 |
When calculating the premium for each user, insurance firms consider driving and non-driving factors. As a result, it varies based on the driver, the make and model of the car, and other factors. Here, we examine the key elements that affect a Chevrolet Corvette's insurance rates.
The age of the car heavily influences the average annual insurance of your Chevrolet Corvette. Among the models discussed here, we observe that a 2015 Chevrolet Corvette is cheaper to insure than a recent model, costing anywhere between $3000 and $3300.
| Year of the Model | Average Annual Insurance |
|---|---|
| 2021 Chevrolet Corvette | $3294 |
| 2020 Chevrolet Corvette | $3143 |
| 2019 Chevrolet Corvette | $3011 |
| 2018 Chevrolet Corvette | $2754 |
| 2017 Chevrolet Corvette | $2764 |
| 2016 Chevrolet Corvette | $2717 |
| 2015 Chevrolet Corvette | $2566 |
Since age can classify you as a high-risk or low-risk driver, car insurance rates highly depend on the driver's age. For example, due to inexperience, teenage drivers will pay $2136 annually on average, while an older driver pays $936 and $828.
Besides the car's value, the driver's location plays an important role in determining the insurance rates. This is because the insurance companies calculate the premium rates based on the accident statistics and theft rate of a place. Being a high-performance sports car, the Chevrolet Corvette will be heavily subjected to this.
Your motor vehicle record decides the fate of your car insurance rates. Maintaining a clean driving record is essential to reducing your insurance premium rates. Speeding tickets, DUI charges, and other traffic violations can increase your sports car insurance.
There are nationally recognized insurance providers that offer sports insurance. Among the insurance companies discussed below, Country Financial and Texas Farm Bureau offer the cheapest insurance rates for Chevrolet Corvette.
| Insurance Company | Average Annual Insurance Rate |
|---|---|
| All State | $5811 |
| Farmers | $4807 |
| Progressive | $3256 |
| American Family | $3203 |
| Chubb | $3198 |
| USAA | $2698 |
| Nationwide | $2692 |
| Mercury | $2607 |
| State Farm | $2568 |
| Travelers | $2236 |
| Erie | $1754 |
| Texas Farm Bureau | $1745 |
| Country Financial | $1378 |
Here is a list of providers offering the best coverage for Chevrolet Corvette according to the model year.
2020 Chevrolet Corvette
The average annual insurance cost of a 2020 Chevrolet Corvette is $2555. Allied and Nationwide provide the cheapest rates.
| Insurance Company | Average Annual Insurance Rate |
|---|---|
| Erie | $878 |
| Southern Farm Bureau | $1753 |
| Tennesse Farmers | $1395 |
| Auto Owners | $1610 |
| 21st Century | $1851 |
| Arbella | $1779 |
| Acuity | $1764 |
| Nationwide | $1210 |
| Vermont Mutual | $1334 |
2019 Chevrolet Corvette
The average annual insurance cost of a 2019 Chevrolet Corvette is $2610. Auto Owners and Cincinnati Insurance provide the cheapest rates.
| Insurance Company | Average Annual Insurance Rate |
|---|---|
| Cincinnati Insurance | $1180 |
| USAA | $1900 |
| Erie | $1673 |
| Southern Farm Bureau | $1753 |
| Tennesse Farmers | $1907 |
| Auto Owners | $1280 |
| Plymouth Rock Insurance | $1851 |
| Arbella | $1760 |
| American Family | $1871 |
2018 Chevrolet Corvette
The average annual insurance cost of a 2018 Chevrolet Corvette is $1407. Nationwide and Erie provide the cheapest rates.
| Insurance Company | Average Annual Insurance Rate |
|---|---|
| Nationwide | $909 |
| USAA | $1061 |
| Erie | $913 |
| State Farm | $1251 |
| Tennesse Farmers | $1321 |
| Acuity | $1316 |
| Plymouth Rock Insurance | $1430 |
| Vermont Mutual | $1360 |
| Progressive | $1300 |
2017 Chevrolet Corvette
The average annual insurance cost of a 2017 Chevrolet Corvette is $1457. Nationwide and Erie provide the cheapest rates.
| Insurance Company | Average Annual Insurance Rate |
|---|---|
| Nationwide | $960 |
| USAA | $1200 |
| Erie | $883 |
| State Farm | $1313 |
| Tennesse Farmers | $1357 |
| Acuity | $1326 |
| Progressive | $1278 |
| Vermont Mutual | $1317 |
| Country | $1351 |
2016 Chevrolet Corvette
The average annual insurance cost of a 2016 Chevrolet Corvette is $1973. Nationwide and Allied provide the cheapest rates.
| Insurance Company | Average Annual Insurance Rate |
|---|---|
| Nationwide | $1047 |
| Allied | $930 |
| Erie | $1492 |
| Southern Farm Bureau | $1503 |
| MetLife | $1596 |
| Acuity | $1506 |
| American Family | $1444 |
| Vermont Mutual | $1072 |
| Auto Owners | $1526 |
2015 Chevrolet Corvette
The average annual insurance cost of a 2015 Chevrolet Corvette is $1440. Nationwide and Erie provide the cheapest rates.
| Insurance Company | Average Annual Insurance Rate |
|---|---|
| Nationwide | $985 |
| USAA | $1464 |
| Erie | $857 |
| State Farm | $1177 |
| Texas Farm Bureau | $1195 |
| Acuity | $1432 |
| Plymouth Rock Insurance | $1294 |
| Vermont Mutual | $1481 |
| Progressive | $1227 |
| Tennessee Farmers | $1469 |
Trim Level
The trim levels also influence the insurance rates of your Chevrolet Corvette. The cheapest Chevrolet Corvette model to insure is Stingray 1LT Coupe costing $1668 annually and $145 per month.
| Chevrolet Corvette 2022 Trim Level | Annual Policy | 6-month Policy | Per Month |
|---|---|---|---|
| Stingray 1LT Coupe | $1,668 | $837 | $145 |
| Stingray 2LT Coupe | $1,761 | $884 | $152 |
| Stingray 3LT Coupe | $1,844 | $925 | $15 |
| Stingray 1LT Convertible | $2,010 | $1,008 | $173 |
| Stingray 2LT Convertible | $2,090 | $1,048 | $180 |
| Stingray 3LT Convertible | $2,182 | $1,094 | $187 |
The safety features and specifications based on the trim levels influence your Chevrolet Corvette car insurance rates. Here we look at the features that impact insurance quotes.
The exclusive features not only ensure safety but also ensure a lower insurance rate. These are the salient safety features hosted on a Chevrolet Corvette.
Several hacks can be used to save on your Chevrolet Corvette insurance. First, shopping around for insurance quotes with different providers can give you a head start on getting the affordable option for you. This is one of the many methods that will help you reduce the insurance premium rates.
Thorough online research can help you choose the best insurance provider that suits your needs. For example, Chevrolet Corvette being a sports car; you can look for companies that provide exclusive sports insurance.
Always look for discounts when you are purchasing insurance. Most providers give multipolicy, telematics, good driver, and bundling discounts. This can make a huge difference in the premium rates. Different providers also offer pay-in-full discounts.
If you are a young driver, you can always use good student discounts and bundle your policies to reduce the premiums. You can also associate your policy with your parents, which will result in a good reduction in the premium rates.
Even though a higher deductible can reduce your accident claim, it can also reduce vehicle insurance premiums. To make it a feasible option, compare deductible alternatives to discover if a reduced deductible delivers savings, then choose one that meets your budget and comfort level.
If you are looking for an affordable quote for your Chevrolet Corvette, then improving and maintaining your credit score can fetch you better rates. In those states that allow credit scores to calculate insurance rates, we observe that it will cost at least $240 more if you have a low credit score.
You must maintain a flawless driving record to keep your car insurance rates minimum. Then, one can shop around and ensure they get the appropriate discounts and a lower insurance premium. But, of course, for a sports car like Chevrolet Corvette, the better the safety and anti-theft features, the lower will be the discount.
It is advisable to do your research before zeroing in on your insurance provider. Doing your research by analyzing the quotes after obtaining them online will reward you with better coverage at a lower price.
Way.com gives you a head start by analyzing the best car insurance companies nationally based on criteria that will influence your insurance coverage experience, financial strength, customer service, protection, and price.
The auto insurance rates published in this guide are based on the results of research completed by Way.com’s data team. Using a mix of public and internal data, we analyzed millions of rate averages across U.S. ZIP codes.
Quotes are typically based on a full coverage policy average unless otherwise noted within the content.
These rates were publicly sourced from insurer filings and should be used for comparative purposes only — your own quotes will differ. Given this, it’s important to go through our insurance steps form to find how much you can save with way.com
A Chevrolet Corvette's average car insurance cost is $1928 per year. It costs $166 per month for full coverage.
Falling under the sports car class, the insurance rates are calculated based on high performance, safety features, and theft rates. As a result, the insurance rates of the Chevrolet Corvette are less than insuring a Chevrolet Corvette compared to models like BMW M3, Chevrolet Camaro, and Porsche Taycan.
The cheapest 2022 Chevrolet Corvette model to insure is Stingray 1LT Coupe costing $1668 annually and $145 per month.
The Chevrolet Corvette is a luxury sports vehicle. Due to its classification as a sports car, the insurance premiums for Corvette models are typically more expensive than those of other vehicles in the same category.
For example, cars like BMW Z4 and Audi TT are cheaper to insure than Chevrolet Corvette. However, it is less expensive to insure than the BMW M3, Chevrolet Camaro, and Porsche Taycan.
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