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

Insurers base their rates on a combination of factors, including the driver’s age. Younger drivers pay more to get their vehicles insured. For example, the average cost to insure a 16-year-old driver of a 2014 Chevrolet Corvette is $6,983, but only $1,564 annually for a 40-year-old driver. Insuring a 2022 Chevrolet Corvette costs $8,638 per year for a 16-year-old driver and $1,946 annually for a 40-year-old driver.

The average cost to insure a Chevrolet Corvette is $1,783 annually. However, your choice of insurance provider can make a difference in cost.

Nationwide, the cheapest car insurance company for full coverage, costs $1,202 per year. While Allstate, the most expensive company, costs $2,265 per year. A state minimum coverage will cost less. GEICO offers the cheapest state minimum policy at $429 per year, while Allstate offers the cheapest at $613 per year.

Insurers consider various factors when determining insurance rates, and coverage for a 2022 Chevrolet Corvette is moderately priced. Because it is a specialized car with an MSRP starting at $62,195, insurance companies are bound to charge higher premiums to cover expensive repairs in case of an accident.

In addition, the Corvette is a high-performance car with a powerful engine that can reach high speeds. For this reason, insurance companies may deem it to be riskier to insure, and drivers of this car are more likely to be involved in accidents.

The most recent data from the National Highway Traffic Safety Administration (NHTSA) indicates that Corvettes are stolen at an above-average rate. Insurance companies may charge higher premiums to cover such risks.

Cost is only one factor to consider when buying insurance. The best car insurance companies also offer great service and claims handling. The following companies are our top picks for insuring a Chevrolet Corvette:

• Travelers: MoneyGeek score 90 out of 100 ($1,296 per year)
• Nationwide: MoneyGeek score 90 0ut of 100 ($1,202 per year)

Travelers and Nationwide score the highest in claims management among the seven insurers we reviewed and offer the most affordable prices. They both have above-average coverage scores, which means they offer a good mix of essential and unique coverage.

The average cost of car insurance for a 2014 Corvette is $1,564 per year, while insuring a 2022 Corvette costs $1,964. Newer model years tend to be more expensive to insure than older ones due to their higher value, more expensive parts, higher risk for theft and other factors.

Car insurance rates vary depending on the insurer and the car’s model year. Travelers offers the cheapest policy for a 2014 Corvette at $1,205 per year. Meanwhile, Nationwide offers the most affordable policy for a 2022 Corvette at $1,221 per year.

Car insurance rates vary greatly depending on age, with teenagers and those in their 20s paying much higher rates than adults over 30.

The average cost of insuring a Chevrolet Corvette for a 16-year-old is $7,755 per year, while a 40-year-old pays an average of $1,745 per year. Teen car insurance is expensive but premiums tend to decrease as drivers reach their 20s.

Teen car insurance costs significantly more if you buy an individual policy versus adding your teen to an existing family policy. Nationwide offers the cheapest insurance for a 16-year-old driver of a 2022 Corvette at $4,832 per year. On the other hand, the most expensive insurer is Progressive at $12,501 per year.

Teens and their families should shop around to find the cheapest policy for their Corvette.

While many factors affect the cost of car insurance, location is one of the most influential. For example, Idaho has the cheapest car insurance average, while North Carolina has the most expensive.

When insuring a Chevrolet Corvette, compare quotes from at least three of the cheapest insurers in your state.

MoneyGeek answers Chevrolet Corvette car owners’ most frequently asked questions about insurance policy cost and quality.