Chevrolet Corvette Insurance

There are few cars as iconic as the Chevrolet Corvette. If you’re looking for something fast, sleek, and efficient, the Corvette is certainly appealing. The first version of the Corvette was released all the way back in 1953, and since has undergone seven revamping phases in order to keep the vehicle up-to-date with the latest technology and innovations.

Read on to find out how much it’ll cost you to insure your Corvette, and how you can save on your premiums.

Average insurance rates for the Chevrolet Corvette

Our research indicates that you can insure your Corvette for an average of £175.05 per month, or, if you’d prefer, a single annual payment of approximately £1860.78.

We used the following information as a baseline for our insurance inquiries:

• The driver was identified as a thirty-year-old male teacher from Exeter, who requested comprehensive cover on their insurance document.
• The driver was the only person covered in the insurance policy.
• The vehicle was the only one owned by the driver.
• The vehicle was used for social, domestic, pleasure, and commuting purposes.
• The driver was in line with the national average of 10,000 miles every year.
• The vehicle was secured in a public car park during day and on a driveway during the night.
• The vehicle was unmodified.
• The driver maintained a five-year record with no claims and no convictions, motoring or otherwise.

Factors that could determine your insurance rate

Most of the factors stated above can affect your insurance rates. Below, you’ll find our insight about some of the top factors that can affect your insurance premiums.

• Insurance companies will request personal information from you, including age, sex, marital status, geographical location, and credit history.
• Do you pay for your insurance monthly or annually?
• How does your driving line up alongside the national average of 10,000 miles per year?
• Are you the only one driving the vehicle?
• Is the vehicle secure? This one is key. Insurers will seek to know whether you have invested in any extra security or safety measures, and where the car is parked both at night and during the day.

How could I bring down my premiums?

Above, you’ll see that we outlined some of the main factors affecting premiums in the UK. But we’re not here to just tell you about them! Below we’ve suggested some ways you can use the above factors to your advantage, to keep your premiums down.

• Personal info. Whilst a lot of your personal information is either impossible or inappropriate to change for the sake of an insurance quote, your credit history may be important. Try your best to maintain a good credit history, alongside a relatively clean sheet when it comes to your no-claims discount and history of convictions.
• Annual payments. If possible, consider making the switch from paying your premiums monthly to paying them in a lump annual sum. Our research indicates this may save you a sizeable sum of approximately £239.84 every year.
• Mileage. Do you regularly find yourself jutting up to or exceeding 10,000 miles a year? This may add to your premiums. Try to keep your driving to a necessary minimum. Not only will you be helping the planet, you’ll be saving yourself money – and not just in petrol!Where do you keep your car parked when you aren’t using it? Insurance premiums will look more favourably on drivers who keep their car secured, either in a garage or a secure car park.
• Drivers on the policy. Make sure that only regular drivers are stated on the insurance policy. You can always come back later and add an extra driver if they need to drive the car, for instance a student home from university for the holidays.
• Safety, security, and modifications. Make sure the only modifications you seek to install on your Corvette are to enhance the safety and security of either the occupants or the vehicle. Others, particularly racing modifications (although, why are you trying to make a Corvette faster?) will be judged poorly and your costs may increase.

Facts about the Chevrolet Corvette

• The Corvette is the official sports car of the U.S. state of Kentucky, where it is manufactured.
• The name ‘Corvette’ is taken from the Corvette-class of warship, traditionally the smallest and most manoeuvrable variant.
• The Corvette emerged victorious in the 2014 North American Car of the Year awards.

Safety and the Chevrolet Corvette

While the current Corvette model has yet to be crash tested by Euro NCAP and similar bodies, earlier models of the Corvette received good reviews.

In terms of safety and security features, the Corvette is fitted with front and side-impact airbags, as well as seatbelt pretensioners and an ignition disable device to prevent all but the original key from starting the vehicle. Ask your insurer what extra safety and security features you can add in return for lower premiums.

Written by

Danny Butler

Publisher

Danny is a publisher at Finder specialising in insurance and investing. He previously worked at the global insurer Aon and has appeared in national media giving advice on insurance. Danny holds a BA in International Business from the University of Plymouth and has undying loyalty to his average-poor football team, Portsmouth FC. See full bio

Danny's expertise

Danny has written 347 Finder guides across topics including:

• Car, home and business insurance
• Helping people save money on their insurance
• Project management
• Giving valuable insights to website visitors