Compare the Cost of Chevrolet Corvette Insurance by Model Year and Company

The average rate of car insurance for Chevrolet Corvette is relatively expensive at $1,680 per year. Compared to other models, Chevrolet Corvette is expensive to insure and costs roughly $252 per year more than the national average. However, the premiums vary based on your company and model year.

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To find affordable Chevrolet Corvette car insurance rates, you should shop around and compare quotes from multiple providers. Depending on your model year, different providers will have different prices.

Key Takeaways

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It costs $1,680 per year on average to insure a Chevrolet Corvette, which is $252 more per year than the average across all car models.

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The Chevrolet Corvette insurance cost can change by as much as $961 per year depending on the company. Comparing quotes can help you save money.

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Chevrolet Corvette insurance rates can change by as much as $159 per year depending on how old your car is. Insurance rates tend to be cheaper for older models.

How Much It Costs to Insure a Chevrolet Corvette and the Cheapest Company

Your Chevrolet Corvette insurance quote largely depends on the provider you select. Nationwide is the cheapest car insurance company for insuring this model, with average annual rates of $1,127. In contrast, the most expensive carrier is Allstate, with an average cost of $2,088 per year. This is a difference of about $961.

The Average Annual Cost of Chevrolet Corvette Insurance by Company

MoneyGeek researched car insurance rates for the average driver profile by gathering quotes from several providers. The average driver is a 40-year-old male with no traffic violations and 100/300/100 liability insurance with comprehensive and collision coverage.

The Average Cost to Insure a Chevrolet Corvette by Company

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Is a Chevrolet Corvette Expensive to Insure?

Insurance providers use a range of factors to decide the car insurance cost for a given model. Factors that can make a model expensive to cover include the car’s value, repair cost, theft rate, horsepower, safety rating and designation as a sports car.

A Chevrolet Corvette is expensive to insure. This is because insurance providers classify it as a sports car. This vehicle classification is pricier to insure because drivers of sports cars tend to engage in riskier driving behaviors.

The Best Car Insurance Company for a Chevrolet Corvette

You should look beyond cost when selecting the best car insurance for your Chevrolet Corvette. MoneyGeek’s rating system scored car insurance companies by claims ratings, discounts, customer satisfaction and financial stability.

According to MoneyGeek’s research:

  • USAA is the best company for Chevrolet Corvette car insurance, but it only serves veterans, current military members and their families.
  • Progressive is the next best insurer with a score of 85.96 out of 100.

1
USAA
Score:99

5/5

Affordability

4.5/5

Claims Ratings

5/5

User Satisfaction

5/5

Financial Stability

2
Progressive
Score:86

4.7/5

Affordability

4/5

Claims Ratings

3/5

User Satisfaction

4.5/5

Financial Stability

3
GEICO
Score:83

4.4/5

Affordability

3.5/5

Claims Ratings

3/5

User Satisfaction

5/5

Financial Stability

4
State Farm
Score:77

3.7/5

Affordability

4/5

Claims Ratings

3/5

User Satisfaction

5/5

Financial Stability

5
Allstate
Score:69

3/5

Affordability

4.5/5

Claims Ratings

3/5

User Satisfaction

4.5/5

Financial Stability

How Much It Costs to Insure a Chevrolet Corvette by Model Year

Older versions of vehicles tend to be cheaper to insure because as a car’s value depreciates, collision and comprehensive insurance become less expensive.

There is a $159 difference in the average cost of auto insurance of a 2014 Chevrolet Corvette and a 2020 model. Different providers may offer cheaper options depending on the model year.

Nationwide is the cheapest provider for the most recent model year (2020) of Chevrolet Corvette, with average annual premiums of $1,104.

Users can select their model year to see how rates compare, as the cheapest carrier can change depending on the year.

The Average Cost to Insure a Chevrolet Corvette by Model Year

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  • Company
    Average Annual Rates (2020 model)
    Average Annual Rates (2019 model)
    Average Annual Rates (2018 model)
    Average Annual Rates (2017 model)
    Average Annual Rates (2016 model)
    Average Annual Rates (2014 model)
  • 1.
    $1,104
    $1,117
    $1,129
    $1,137
    $1,146
    $1,133
  • 2.
    Allied
    $1,378
    $1,362
    $1,356
    $1,365
    $1,353
    $1,311
  • 3.
    $1,460
    $1,464
    $1,460
    $1,411
    $1,795
    $1,433
  • 4.
    $1,714
    $1,708
    $1,622
    $1,585
    $1,519
    $1,438
  • 5.
    $1,677
    $1,573
    $1,590
    $1,522
    $1,456
    $2,265

How Expensive Is It to Insure a Chevrolet Corvette Compared to Other Cars?

The Chevrolet Corvette is an expensive model to insure compared to other car models. The average car insurance price for a Chevrolet Corvette is $1,680 per year. This is roughly $252 more per year than the national average.

How Much It Costs to Insure a Chevrolet Corvette for 16- to 25-Year-Olds

Younger drivers typically pay more for car insurance given their inexperience. Insurers view their lack of experience as riskier to insure.

The average annual cost of insurance for an 18-year-old driver with a Chevrolet Corvette is $5,482. This rate is $3,802 more than the price for an average 40-year-old driver.

To save money on car insurance, parents should consider adding their teens to their policy. It tends to be cheaper for young drivers to purchase their own insurance.

You can find the cost of car insurance for a young driver below.

The Average Cost to Insure a Chevrolet Corvette by Driver Age

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  • Age
    Average Annual Rates
  • 16
    $7,028
  • 17
    $6,226
  • 18
    $5,482
  • 19
    $3,926
  • 20
    $3,504
  • 21
    $2,774
  • 22
    $2,555
  • 23
    $2,338
  • 24
    $2,195
  • 25
    $1,991
  • 40
    $1,680

How Does Location Affect the Cost of Chevrolet Corvette Insurance?

These rates are a national average and location can play a big role in car insurance prices. You can use MoneyGeek’s state page analysis to learn more about the cost of car insurance in individual states.

FAQs About Chevrolet Corvette Insurance

The model of your car can have a big impact on insurance cost, but it’s only one of many factors that go into calculating your rates. Learn more from MoneyGeek’s answers to frequently asked questions.

Read More About Car Insurance

Methodology

MoneyGeek researched average car insurance rates for a Chevrolet Corvette using a sample 40-year-old driver across all the model years. The rates are for a full coverage policy that includes:

  • $100,000 in bodily injury liability insurance per person
  • $300,000 in bodily injury liability insurance per accident
  • $100,000 in property damage liability insurance per accident
  • Comprehensive and collision insurance with a $1,000 deductible

About the Author


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Mark Fitzpatrick is a senior content manager with MoneyGeek specializing in insurance. Mark has years of experience analyzing the insurance market and creating original research and content. He graduated from Boston College with a Bachelor of Arts and Johns Hopkins University with a Master of Arts.