How much is car insurance for a Chevrolet Corvette Z06?

The Chevrolet Corvette Z06 is one of the most popular American built sports cars and how much car insurance will cost depends on how what type of coverage you purchase.

While almost anyone who purchases the Chevrolet Corvette Z06 is certainly a fan of sports cars not everyone is going to use this vehicle to commute to work.

How much car insurance will cost for the Chevrolet Corvette depends on a number of elements including whether or not you seek typical auto insurance coverage or a collector car insurance policy.

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Good drivers who purchase the Z06 for a primary vehicle average around $2,000 annually for auto insurance nationally however your exact cost of car insurance will depend on where you live, your driving record and more.

For those owners who only use the vehicle on a limited mileage basis or have purchased the Z06 as a collector item however the cost of car insurance can be dramatically cheaper.

Low Mileage Policy

If you own a Corvette than odds are its not going to see many days in the winter months so instead of purchasing a typical car insurance policy inquire about low mileage coverage which can save up to 50% or more on premiums.

While some car insurance companies consider cars with less than 7,500 miles a year low mileage most use the 5,000 mile as a marker.

Calculate your annual expected mileage and always ask about a low mileage car insurance discount or policy when comparing quotes.

Collector Car Insurance

If you purchase the Chevrolet Corvette as a collector item however than you can possibly qualify for collector car insurance and the cost of a collector car insurance policy is much cheaper than typical auto insurance with premiums sometimes up to 30% – 50% lower.

For higher priced vehicles collector car insurance premiums run around $6 per $1,000 of the vehicle’s value so based on a $75,000 MSRP a rough estimate of insuring the Chevrolet Corvette ZZ06 through a collector car insurance policy is around $450 a year.

You will have limitations to mileage, possible storage requirements and some differences in coverage but collector car insurance is worth considering for many drivers profiles.

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Who is the best car insurance company for a Chevrolet Corvette Z06?

Choosing a car insurance company for an expensive sports car like the Corvette Z06 can seem challenging at first but there are over 100 licensed auto insurance companies in most states so you have many to choose from.

What you should do is learn about the types of auto insurance and pay particular attention to the levels of coverage, auto theft coverage, how car repairs are handled, GAP insurance and the replacement value of the vehicle.

Financing a new $75,000 car will certainly leave a GAP in between your car loan balance and the book value of the car for the first couple years.

Cars can depreciate 20% or more as soon as they leave the lot and without GAP insurance any total loss accident in the first couple years can leave you holding a very large personal liability.

One of the big advantages of collector car insurance is that many companies who specialize in collector car insurance offer “agreed upon replacement value” where the value of your car is predetermined and agreed upon before insurance coverage is in-force.

This way you both know how much a claim is expected to be paid in the event of a total loss.

Most typical car insurance companies define replacement value as book value which can be substantially less than your vehicle may be worth.

You also want to try to find a car insurance company who allows you to choose a repair shop.

Having an auto insurance company dictate where to get a vehicle repaired may very well be a good way to lower costs for the insurer but for the owner of any car (especially a luxury sports car) its important to retain the choice where to have the vehicle fixed.

Do you really want your Corvette repaired by a shop that focuses primarily on Mini-Vans?

There are many ways to save money on car insurance but ultimately all you need is a car insurance company you can trust with sufficient coverage at affordable premiums.

Most Chevrolet Corvette owners have no problem finding affordable auto insurance and many start with a car insurance comparison search online.

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