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The Chevrolet Corvette is built by General Motors Chevrolet division with the first model produced in 1953. Car insurance companies classify the Corvette as a sports car and car insurance rates vary widely depending on your profile. The 2011 Corvette comes in 6 Models including:
- Corvette Coupe
- Corvette Convertible
- Grand Sport
- Grand Sport Convertible
- Corvette Z06
- Corvette ZR1
With a base price of $48,950 and 430 horsepower the Corvette is a car with a lot of speed and replacement cost. While the vehicle has many safety features the combination of speed, price and a sports car classification usually always ends up with high car insurance rates. Cheap car insurance can still be found but the only way to find the best rates will be to perform a thorough car insurance comparison search.
One of the factors automobile insurance companies use to determine rates are vehicle safety ratings and the Corvette has scored some very poor ratings from various agencies. While many drivers choose a sports car based on speed and style its important not to overlook safety ratings as they play a large part in car insurance premiums. Corvette car insurance rates are high largely in part to the vehicle’s safety ratings and cost.
Another reason for high car insurance rates is replacement cost. The 2011 Corvette base model starts at just under $50,000 which is a high replacement cost. Car insurance companies have to factor in both repair costs and total loss replacement value. Any vehicle with a price tag of $50,000 or more will have higher car insurance rates.
Risk of Auto Theft
The Corvette is also one of the high risk cars when it comes to auto theft. Whenever a vehicle lands itself on the popular cars for auto thieves you can bet car insurance companies adjust for this risk. While many of the newer models have several anti-theft devices the Corvette is a still a very desirable car and subject to higher risk of theft than comparable models in the same price range.
Sports Cars and Higher Premiums
Sports cars cost more to insure. This is common with any sports car and not unique to the Corvette. From a Porsche 911 to a Ford Mustang – all sports cars command higher car insurance rates. Statistics show that cars with greater speed have higher claims for damage over history and car insurance companies adjust premiums higher for any sports cars vs. vehicles like a sedan or mini-van.
Corvette Car Insurance Discounts
Even with poor safety ratings, a high replacement value and the sports car label it is possible to enjoy some car insurance discounts. 2011 models offer many safety features including Airbags and traction control. The complete list of safety features will depend on the model chosen.
Who has the Best Corvette Car Insurance Rates?
Almost all car insurance companies offer coverage for the Corvette so it will be up to you to compare car insurance quotes. There is no best auto insurer for all drivers and with the high cost of car insurance for sports cars you really need to shop around.
Compare Corvette Car Insurance Quotes Today!