Chevy Corvette Insurance Cost for 2022

How much does Corvette insurance cost? We compared rates from the 1LT Coupe to the 3LT Convertible to see how Corvette Stingray insurance prices compared to the competition.

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How much does Corvette insurance cost?

Average Corvette insurance cost per year is $1,908 for a policy with full coverage. Monthly insurance cost ranges from $138 to $180, depending on the trim level.

With the average sports car costing $2,135 a year to insure, drivers can expect to pay around $227 less per year for insurance on a Corvette when compared to the segment average.

Comprehensive (or other-than-collision) coverage costs approximately $556 a year, collision insurance will cost approximately $1,028, and the remaining liability/medical costs an estimated $324.

The chart below details how 2022 Corvette insurance cost changes with different driver ages and policy deductibles. Rates range from $1,380 per year for a 60-year-old driver with high policy deductibles to $4,502 each year for a 20-year-old driver with low deductibles.

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Chart Data Details: Chart shows average insurance cost for a 2022 Chevrolet Corvette with safe driver and claim-free discounts applied. Rates are for full-coverage insurance and averaged for all U.S. states and all Chevrolet Corvette trim levels.Data last updated on May 19, 2022
Chevrolet Corvette Insurance Cost Summary
Chevrolet Corvette Insurance Cost by Driver Age and Deductibles
Driver Age Deductible Annual Cost Monthly Cost
20$1,000$3,060$255
$500$3,760$313
$250$4,502$375
30$1,000$1,652$138
$500$2,044$170
$250$2,452$204
40$1,000$1,548$129
$500$1,908$159
$250$2,280$190
50$1,000$1,404$117
$500$1,728$144
$250$2,066$172
60$1,000$1,380$115
$500$1,698$142
$250$2,030$169

The previous insurance rate chart plots a small set of values from a vast data set. If we displayed all rates for every possible data combination, including all six Corvette trim levels and all 40,000+ zip codes in the U.S., the chart would have 580,608,000,000 bars.

To better illustrate the full range of possible insurance rates, keep in mind that a Corvette insurance policy with only liability coverage in the cheapest areas of Virginia or North Carolina may cost as little as $240 a year.

For an identical Chevy Corvette, car insurance cost for a 16-year-old with a few speeding tickets in some of the more expensive zip codes in America could total as much as $14,456 a year for full coverage.

A few additional key data insights as they relate to Chevrolet Corvette insurance cost include:

  • Policy discounts save money. Discounts may be available if the insured drivers belong to certain professional organizations, are good students, are accident-free, sign their policy early, or many other discounts which could save the average driver as much as $322 per year on the cost of insuring a Corvette.
  • Corvette insurance is expensive for high-risk drivers. For a 50-year-old driver, having a tendency to get into accidents or receive violations could inflate rates by $2,164 or more per year.
  • Raising deductibles makes insurance more affordable. Raising your policy deductibles from $500 to $1,000 could save around $360 per year for a 40-year-old driver and $700 per year for a 20-year-old driver.
  • Choosing a low deductible may not make good financial sense. Decreasing your policy deductibles from $500 to $250 could cost an additional $372 per year for a 40-year-old driver and $742 per year for a 20-year-old driver.
  • Gender and age affect the rate you pay. For a 2022 Chevrolet Corvette, a 20-year-old male driver receives an average rate of $3,760 per year, while a 20-year-old female driver will pay $2,774, a difference of $986 per year in favor of the women by a long shot. But by age 50, male driver rates are $1,728 and the cost for female drivers is $1,694, a difference of only $34.
  • Good credit scores mean better rates. In states that authorize a policyholder’s credit score to be used for the purpose of determining insurance rates, drivers who maintain a credit score over 800 could possibly save as much as $300 per year over a lower credit score of 670-739. Conversely, a subpar credit score could cost around $347 more per year.
  • The cost to insure teenage drivers is high. Average rates for full coverage Corvette insurance costs $6,346 per year for a 16-year-old driver, $6,048 per year for a 17-year-old driver, and $5,696 per year for a 18-year-old driver.

How does Corvette insurance compare?

The Chevy Corvette ranks #9 out of 23 total vehicles in the 2022 sports car segment. When compared to the top-selling other sports cars, insurance for a Corvette costs $312 more per year than the Ford Mustang, $244 less than the Dodge Challenger, $188 less than the Chevy Camaro, and $186 more than the Subaru WRX.

The table below shows how C8 Corvette insurance cost compares to other sports cars for insurance affordability.

Insurance Cost Comparison: Chevrolet Corvette vs Sports Cars
Rank Make/Model Insurance Cost Difference
1Mazda MX-5 Miata$1,312-$596
2Ford Mustang$1,596-$312
3BMW Z4$1,628-$280
4Subaru WRX$1,722-$186
5Toyota GR86$1,764-$144
6Toyota GR Supra$1,804-$104
7Audi TT$1,844-$64
8Subaru BRZ$1,898-$10
9Chevrolet Corvette$1,908--
10BMW M3$1,960$52
11Porsche 718$2,044$136
12Chevrolet Camaro$2,096$188
13Lexus RC F$2,138$230
14Dodge Challenger$2,152$244
15Mercedes-Benz AMG GT53$2,186$278
16Jaguar F-Type$2,286$378
17Porsche Taycan$2,346$438
18Porsche 911$2,402$494
19BMW M4$2,410$502
20Lexus LC 500$2,494$586
21Acura NSX$2,924$1,016
22Audi R8$3,052$1,144
23Nissan GT-R$3,132$1,224

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Table Data Details: Average rates are based on 2022 model year, 40-year-old married male driver with a clean driving record and no at-fault accidents. Safe driver and claim-free discounts are applied to policy premium, which is averaged for all vehicle trim levels. Full coverage physical damage deductibles are $500 and rates are averaged for all U.S. states.Data last updated on May 19, 2022
Insurance Cost Comparison: Chevrolet Corvette vs Sports Cars

What is the cheapest Corvette insurance?

With Chevy Corvette insurance rates ranging from $1,652 to $2,162 per year for the average driver, the cheapest model to insure is the Stingray 1LT Coupe. The next cheapest trim level to insure is the Stingray 2LT Coupe at $1,744 per year. Expect to budget a minimum of $138 per month for full coverage insurance.

At the high end of insurance cost, the three highest cost C8 Corvette trim levels to insure are the Stingray 1LT Convertible, the Stingray 2LT Convertible, and the Stingray 3LT Convertible trim levels at an estimated $1,990,  $2,068, and $2,162 per year, respectively.

Average auto insurance prices for annual and semi-annual policy terms are shown in the table below, including a monthly budget figure, for each available Corvette trim level.

2022 Chevrolet Corvette Insurance Cost by Trim Level
Chevrolet Corvette Trim Level Annual Policy 6-month Policy Per Month
Stingray 1LT Coupe$1,652$826$138
Stingray 2LT Coupe$1,744$872$145
Stingray 3LT Coupe$1,824$912$152
Stingray 1LT Convertible$1,990$995$166
Stingray 2LT Convertible$2,068$1,034$172
Stingray 3LT Convertible$2,162$1,081$180

Get Rates in Your AreaWhy is this important?

Table Data Details: Average rates are for a 2022 Chevrolet Corvette, 40-year-old married male driver with a clean driving record and no at-fault accidents. Safe driver and claim-free discounts are applied to policy premium. Physical damage deductibles are $500 and rates are averaged for all U.S. states.Data last updated on May 19, 2022
Chevrolet Corvette Insurance Cost by Trim Level

How much is insurance on a used Corvette?

Opting to insure a 2013 Chevy Corvette instead of a new 2022 Corvette could save up to $606 each year. Even a 2017 model could save the average driver $194 on a yearly basis.

The table below shows the average cost of full coverage insurance for a Corvette for the 2013 through 2022 model years.

Chevrolet Corvette Insurance Cost for 2013-2022 Models
Model Year and Vehicle Annual Rate 6-month Rate Monthly Rate
2022 Chevrolet Corvette$1,908$954$159
2021 Chevrolet Corvette$1,834$917$153
2020 Chevrolet Corvette$1,786$893$149
2019 Chevrolet Corvette$1,912$956$159
2018 Chevrolet Corvette$1,768$884$147
2017 Chevrolet Corvette$1,714$857$143
2016 Chevrolet Corvette$1,764$882$147
2015 Chevrolet Corvette$1,660$830$138
2014 Chevrolet Corvette$1,210$605$101
2013 Chevrolet Corvette$1,302$651$109

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Table Data Details: Average rates assume clean driving record and no at-fault accidents. Full coverage physical damage deductibles are $500 and rates are averaged for all U.S. states.Data last updated on April 2, 2022
Chevrolet Corvette Insurance Cost by Model Year

Sooner or later, it will probably be a good financial move to drop comprehensive and/or collision coverage from the insurance policy. As vehicles get older and lose value, the cost of having physical damage protection begins to exceed the benefit of having it on the policy.

Deleting physical damage coverage on an older Chevrolet Corvette could save around $982 annually, depending on the policy deductibles and the age of the rated driver.

Another option for reducing the cost of insurance is to look at purchasing Corvette classic car insurance rather than a standard policy. If your miles are low enough, and the car is over 20 years old, it may qualify for the cheaper coverage.

How much is Corvette insurance for teens?

Average Corvette car insurance rates for teenage drivers ranges from $4,652 per year for a 19-year-old female driver to $6,346 per year for a 16-year-old male driver. Higher policy deductibles can help bring down the price, as will insuring your teen on an older model year Corvette.

Insurance on a Corvette for a 17-year-old driver ranges from $5,314 to $6,048, and Corvette insurance for an 18-year-old driver ranges from $4,948 to $5,696 per year. The chart below illustrates Corvette insurance cost for male and female teenage drivers from ages 16 to 19.

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Chart Data Details: Teenage driver rates are for a 2022 model year Chevrolet Corvette with $500 physical damage deductibles. Rates are averaged across all U.S. states and all Chevrolet Corvette trim levels.Data last updated on April 2, 2022
Corvette Insurance for Teenagers
Chevrolet Corvette Insurance Cost for Teenage Drivers
Teen Driver Gender Age 16 Age 17 Age 18 Age 19
Male$6,346$6,048$5,696$5,238
Female$5,562$5,314$4,948$4,652

The insurance rates in the chart above are for a teen driver rated on a 2022 Corvette with full coverage, but as mentioned before, teenage driver insurance rates can be cheaper if they drive an older model, have higher physical damage deductibles, or if they take a driver’s education course.