Rachael Brennan has been working in the insurance industry since 2006 when she began working as a licensed insurance representative for 21st Century Insurance, during which time she earned her Property and Casualty license in all 50 states. After several years she expanded her insurance expertise, earning her license in Health and AD&D insurance as well. She has worked for small health insuran...

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Chris Harrigan has an economic degree from Limestone College and an MBA from Clemson University. He previously managed auto insurance claims for Enterprise Rent-A-Car. Currently, he is using his business and insurance expertise to provide insurance data analysis and visualizations to enhance the user experience.

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Reviewed by Chris Harrigan
Former Auto Insurance Claims Manager Chris Harrigan

UPDATED: Feb 5, 2022

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Key Takeaways

  • Corvette car insurance can be as low as $90 a month
  • Nationwide and Allied are the cheapest car insurance companies for Corvettes
  • Teens and young adults pay the most for car insurance

Corvettes are one of the most popular sports cars in the United States. The latest-model-year Corvettes have values over $50,000. Getting car insurance quotes for a Corvette is easy, but how much is insurance on a Corvette? Which companies provide affordable Corvette insurance rates? Don’t worry – we’re here to answer these questions and more. Our guide has everything you need to know about car insurance for a Corvette, including which companies have the cheapest Corvette car insurance and what age group pays the least for Corvette insurance.

Continue reading to learn all about Corvette insurance cost. Enter your ZIP code in our free comparison tool above if you’re ready to see quotes from the best insurance companies near you.

How much does Corvette car insurance cost?

On average, Corvette auto insurance is around $140 per year, which is about $21 more than most vehicles.

Corvettes are more expensive than some cars because they’re sports models and are considered more collectible than most sedans. On average, four-door and two-door vehicles cost $20,000 to $45,000. The latest Corvette is valued at $50,000 or more. As the manufacturer suggested retail price (MSRP) increases, auto insurance rates are driven higher.

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Which companies provide the most affordable Corvette car insurance?

Corvettes are one of Chevrolet’s luxury vehicles. Therefore, insurance on a Corvette is more expensive than the national average ($90 a month).

The average Corvette auto insurance cost is $50 more than the national average. However, you can buy Corvette car insurance for a low price if you shop around. 

Let’s see how the best car insurance companies estimate insurance rates for Corvettes:

Chevrolet Corvette Car Insurance Rates by Company
CompaniesAverage Monthly Rates
Allied$115
Allstate$142
GEICO$140
Nationwide$92
Progressive$143
State Farm$173
USAA$122
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Nationwide and Allied are the most affordable insurance companies for Corvettes. Meanwhile, GEICO, Allstate, and Progressive all meet around an average for Corvette car insurance rates. State Farm is the most expensive, but you could get cheaper rates depending on personal factors and where you live.

How much are Corvette car insurance rates by model year?

Your Corvette’s model year is one of the main factors that determine your monthly rates. The latest-model-year Corvettes tend to have more expensive auto insurance rates because the vehicles have higher values than older models. Let’s look at Corvette insurance costs based on model year:

Average Monthly Corvette Car Insurance Rates by Model Year
Model Year and VehicleAverage Monthly Rates
2022 Chevrolet Corvette$157
2021 Chevrolet Corvette$152
2020 Chevrolet Corvette$148
2019 Chevrolet Corvette$158
2018 Chevrolet Corvette$146
2017 Chevrolet Corvette$142
2016 Chevrolet Corvette$146
2015 Chevrolet Corvette$137
2014 Chevrolet Corvette$100
2013 Chevrolet Corvette$108
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The 2022 Corvette has the highest car insurance rates, and the 2014 Corvette currently has the lowest. The 2014 Chevy Corvette is cheaper than the 2013 Corvette because of its safety features. Safety and anti-theft features generate more affordable auto insurance rates for any vehicle. Much older Corvettes have cheaper rates overall due to their relative age. For example, 2005 Corvette insurance costs about $83 per month.

Does trim level affect Corvette car insurance quotes?

Yes, it does. Each Corvette trim level has unique features. Some Corvettes have the bare essentials while others provide luxury features like a convertible hard-top roof, Wi-Fi radio, OnStar, etc.

So what is Corvette insurance like for different trim levels? Let’s examine the latest estimates to find out:

Monthly Chevrolet Corvette Car Insurance Cost by Trim Level
Chevrolet Corvette Trim LevelAverage Monthly Rates
Stingray 1LT Coupe$133
Stingray 2LT Coupe$144
Stingray 3LT Coupe$151
Stingray 1LT Convertible$164
Stingray 2LT Convertible$171
Stingray 3LT Convertible$178
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Corvette coupes are more affordable than Corvette convertibles. You’ll pay around $40 more for Corvette car insurance when your trim is a convertible. Even with different trims, your insurance rates may vary when you look at quotes from multiple companies.

How does Corvette car insurance compare to other sports cars?

Chevrolet Corvette isn’t the only popular sports car in America. How does Corvette auto insurance compare to that of most sports cars in the United States? We researched estimates from various luxury vehicles in the nation and created a list of their monthly rates.

Here’s what we found:

Monthly Rates for Chevrolet Corvette vs Sports Cars
RankMake/ModelAverage Monthly RatesDifference
1Mazda MX-5 Miata$108-$49
2Ford Mustang$132-$25
3BMW Z4$135-$22
4Subaru WRX$142-$15
5Toyota GR86$146-$11
6Toyota GR Supra$149-$8
7Audi TT$152-$5
8Subaru BRZ$157-$4
9Chevrolet Corvette$157$0
10BMW M3$162$5
11Porsche 718$169$12
12Chevrolet Camaro$173$16
13Lexus RC F$177$20
14Dodge Challenger$178$21
15Mercedes-Benz AMG GT53$181$24
16Jaguar F-Type$189$32
17Porsche Taycan$194$37
18Porsche 911$199$42
19BMW M4$199$42
20Lexus LC 500$206$49
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The Chevrolet Corvette is ranked number nine for cheapest auto insurance among luxury vehicles in America. The Mazda MX-5 Miata and Ford Mustang have more affordable car insurance rates. Lexus LC 500 and BMW M4 have the most expensive insurance rates.

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Does age determine my Corvette car insurance?

Yes, it does. Age indicates driving experience and overall risk. Statistically, teens and young adults take more risks while driving, and they’re more likely to be attached to an auto insurance claim. Therefore, car insurance companies issue higher rates to young drivers in an effort to balance out the risk of an accident. Auto insurance is the most expensive for drivers between 16 and 20. Corvette insurance for an 18-year-old is likely to be more costly than Corvette insurance for a 20-year-old.

Let’s see how much it would cost for teens and young adults to insure a Chevrolet Corvette:

Chevrolet Corvette Car Insurance Rates by Age
AgesAverage Monthly Rates
16$586
17$519
18$457
19$327
20$292
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Teen drivers (between 16 and 19 years old) pay the most for insurance per month. You won’t see a significant change in Corvette auto insurance cost until age 20. Young drivers can get less expensive rates if they ask their parents or legal guardians to add them to an existing policy.

Is Corvette insurance cheaper in certain states?

Yes, it is. Michigan and Louisiana are the most expensive states for auto insurance. Depending on which state you live in, your Corvette insurance rate could vary by several hundred dollars. North Carolina, California, and Iowa have more affordable rates for Chevrolet Corvettes.

Corvette Insurance: The Bottom Line

The Chevrolet Corvette is a popular luxury vehicle that costs as low as $83 a month to insure in some states, but you’ll likely pay between $90 and $150 per month for Corvette insurance rates. Ultimately, your Corvette auto insurance rates are determined by your driving record, the state where you live, your Corvette’s trim level, and your Corvette’s model year.

Now that you know more about Corvette insurance costs, use our free comparison tool below to compare multiple insurance companies in your area.

Frequently Asked Questions: Corvette Insurance Cost

Are you interested in learning more about Corvette auto insurance? Read these answers to frequently asked questions to learn more.

#1 — Are Corvettes expensive to insure?

It depends on your situation. Corvettes are expensive to insure in general, but specific factors can get you cheaper rates.

#2 — How much does it cost to insure a 2021 Corvette?

Car insurance for a 2021 Chevy Corvette is $152 per month.

#3 — How much is insurance on a Corvette for a 16-year-old driver?

Corvette car insurance for a 16-year-old driver is around $586 a month from certain companies.