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Chevrolet Corvette Car Insurance

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Key Takeaways

  • A Chevrolet Corvette will cost $1928 per year on average to insure.
  • Allied, Erie, and Nationwide offer the cheapest insurance rates for models of Chevrolet Corvette.
  • The cheapest Chevrolet Corvette model to insure is Stingray 1LT Coupe costing $1668 annually and $145 per month.

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.

Chevrolet Corvette Car Insurance Cost

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.

Is Chevrolet Corvette expensive to insure?

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

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Does a used Chevrolet Corvette cost less to insure?

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

What impacts the cost of Chevrolet Corvette car insurance?

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.

Age of the Car

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

Age of the Driver

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.

Age Average Annual Premium
Teens $5488
20s $3510
30s $1197
50s $1686

Location of the Driver

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.

Driving Record

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.

Insurance Company

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

Features of the Chevrolet Corvette

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.

  • Anti-lock Brakes
  • Stability control
  • Front-impact airbags
  • Side impact airbags
  • Pretensioners
  • Security System
  • Blind Spot Safety
  • Programmable Safety Key
  • Emergency interior trunk release

Ways to Save on Chevrolet Corvette Car Insurance

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.

  • Compare and Purchase

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.

  • Look for Discounts

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.

  • Make Use of Student 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.

  • Increase your Deductible

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.

  • Improve your Credit Score

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.

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Bottom Line

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.

How to get Chevrolet Corvette Car Insurance with Way.com

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.

Auto Insurance Data Methodology

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

Frequently Asked Questions

How much is Corvette's insurance?

A Chevrolet Corvette's average car insurance cost is $1928 per year. It costs $166 per month for full coverage.

Why is Corvette insurance cheap?

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.

What is the average insurance cost for a Corvette?

The cheapest 2022 Chevrolet Corvette model to insure is Stingray 1LT Coupe costing $1668 annually and $145 per month.

Is corvette insurance expensive?

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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