Mathew B. Sims is Editor-in-Chief and has authored, edited, and contributed to several books. He has been working in the insurance industry ensuring content is accurate for consumers who are searching for the best policies and rates. He has also been featured on sites like UpJourney.

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Dan Walker graduated with a BS in Administrative Management in 2005 and has been working in his family’s insurance agency, FCI Agency, for 15 years (BBB A+). He is licensed as an agent to write property and casualty insurance, including home, auto, umbrella, and dwelling fire insurance. He’s also been featured on sites like Reviews.com and Safeco. He reviews content, ensuring that exis...

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Reviewed by Daniel Walker
Licensed Auto Insurance Agent

UPDATED: Apr 21, 2020

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Things to Remember...

  • Each car appeals to a particular market segment and demographic profile with the difference being the price
  • Average yearly insurance costs for the Camaro run about $1,340 or about 35 percent less than the annual premium for a Corvette
  • Sports cars will cost more to insure than sedans, family wagons, or pickup trucks
  • The more expensive car, the Corvette will always cost a bit more to insure but it will certainly be worth the extra cost to drive a truly original American classic

Nothing elicits a sense of nostalgia for the open road like the vision of a 1960s vintage Chevrolet Corvette convertible or a souped-up 70s Chevy Camaro, speeding along a beautiful coastal road.

It’s been more than 50 years since the black and white version of that dream, CBS Television’s iconic show, “Route 66,” hit the airways.

By the middle of the twentieth century, Chevrolet had become America’s standard brand of automobile.

Years before the first foreign import would reach U.S. soil, Chevrolet had locked up the hearts and minds of American motorists.

General Motors produced five car brands:

  • Cadillac
  • Oldsmobile
  • Buick
  • Pontiac
  • Chevrolet

Chevrolet was the most popular and affordable car brand. It was Chevy that built cars for the masses that were stylish, economical, and eminently roadworthy.

You’ll find just the right car insurance products to meet your needs when you put your zip code in the free comparison tool above!

Insurance Wars

There really is no comparison between the Chevy Camaro and the Corvette, other than that they are both American-made sports cars produced by the same manufacturer.

Each car appeals to a particular market segment and demographic profile with the difference being the price.

The MSRP, manufacturer’s suggested retail price, for a new Camaro is just under over $23,000.

The Corvette, on the other hand, is priced starting at $50,000, a little more than twice that of its sister car. Both of these prices are for the basic car with standard equipment and no upgrades.

A well-equipped top Corvette model, like the ZR1 coupe for 2013, is priced at a hefty $111,600 according to Motor Trend Magazine. Motor Trend estimates annual insurance costs for this beauty at about $1,800 per year.

According to Auto Media, 2013 Camaro models can run close to $60,000, however, the average model being driven off the lot today costs an average of $30,000 to $35,000.

Average yearly insurance costs for the Camaro run about $1,340 or about 35 percent less than the annual premium for a Corvette.

Both insurance quotes assume an average driver with at least six years driving experience and a clean driving record.

Coverage includes amounts of $100,000 and $300,000 for liability and $100,000 for property damage.

Collision and comprehensive coverage are included in the quote, both with $500 deductibles. This average policy would also include $50,000 to cover potential medical costs.

Looking at these two insurance quotes, we quickly recognize that they are best-case scenarios.

It is important to note that insurance requirements vary from state-to-state and from region-to-region. Motorists who live in crowded urban centers will pay significantly more for car insurance than those who live in sparsely populated rural areas.

How do insurance rates for the Camaro and Corvette compare to national averages?

According to the National Association of Insurance Commissioners, the average cost of car insurance has dropped steadily in more recent years.

In 2009, the average consumer paid just $847 dollars for a typical car insurance policy.

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Factors That Influence Car Insurance Rates

There are several givens in the insurance industry.

  • First, the more expensive the car, the more it will cost to insure.
  • Second, sports cars will cost more to insure than sedans, family wagons, or pickup trucks.

As both the Camaro and Corvette are marketed as a sports vehicles, insurance premiums for both vehicles will be much higher than the average family sedan, wagon, or minivan.

The cars themselves will be individually rated and premium values can easily change depending on the engine size, performance package, and other amenities.

Drivers are subject to additional scrutiny when applying for insurance for a sports car.

Normal factors that are reviewed include a person’s driving and insurance claim record and where they live.

Insurance companies will also examine a number of other personal factors and characteristics when determining how much your annual premium will be to insure your Camaro or Corvette. These factors include:

  • Your age
  • Your sex
  • Your financial circumstances
  • Your credit history
  • Your employment situation 

How much you drive during the year and the type of driving you do can also influence the final outcome.

Camaro vs. Corvette Demographics

Interestingly enough, insurance rates for Corvettes are not as high as one might think because insurance companies know that the average Corvette owner is generally between 45 and 60 years of age.

Many younger drivers are simply priced out of the market. Corvette has long been a symbol of affluence and social status.

Corvette buyers are often middle-aged men looking to recapture their lost youth or stereotypically having a midlife crisis.

But these are individuals who by that point in their lives can afford the extravagance of a Corvette. The Corvette is also impractical for family driving. It is a two-seat roadster with little enough cargo room.

The Camaro, as opposed to the Corvette, is priced on the lower end of the scale and therefore is much more affordable for younger car enthusiasts.

It can also seat five passengers, although not very comfortably, and has reasonable trunk space.

While not the best family car, this car at least provides sufficient space for a couple of kids and the family dog.

The Camaro will attract young single men or women looking for the 21st-century version of a muscle car. It is sporty yet economical. Fast yet safe enough to drive your daughter to preschool or your son to an afternoon soccer match and come home with a trunk full of groceries.

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The Chevy Corvette

At one time or another, all of the Chevrolet production nameplates were household names.

For sedans, Chevy produced three models at various price points. The most luxuriously appointed model was the Impala and then came the Bel Aire.

Finally, the most economical model, the Biscayne, rounded out the trio. Of course, Chevy had family wagons and pickup trucks.

The most famous and long lasting nameplate belongs to the Corvette.

Chevrolet released the first Corvette in 1953 and it became an instant classic and has often been referred to as the only truly American sports car.

The Corvette has undergone many changes in its more than 60 years of production but it has always remained true to its unique styling and performance.

Today, it remains a versatile road machine that can be driven every day. Current Corvette models boast ergonomic cabin design and very comfortable seating for two.

The hatchback body style in this generation of the Corvette allows for a surprising cargo load of 22 cubic feet for the coupe. Its patented suspension provides a smooth ride in the city or out on the open road.

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The Chevrolet Camaro

The Camaro was first introduced to America in 1966 as a response to the wildly popular Ford Mustang. It was also intended to replace the popular Chevy Corvair, which came under heavy attack for the instability and other safety issues its rear-mounted engine caused.

The Corvair had been featured that year in a book by crusader Ralph Nader titled, Unsafe at Any Speed.

At the time the Camaro was introduced it was known as a pony car because of its comparison to the Mustang.

Some models were also considered muscle cars because of their large V8 engines and high-performance specifications.

The other wildly popular GM car that was introduced that same year was the Pontiac Firebird, which was built on the same platform as the Camaro.

The Camaro prospered in the marketplace until production of the fourth generation model ended in 2002. Several years later, GM decided to bring the Camaro back to life with a retro fifth generation beginning with the 2009 model year.

In the last few years, the Camaro has indeed made a strong comeback due, in part, to an intensive marketing campaign by Chevrolet.

It has gained interest and significant market share by prominent placements of fully loaded cars in popular movies and TV shows like the revamped Hawaii Five-O.

Reviews for the Camaro

The base price for a new Camaro in 1967 was $2,466.

Today the same car in running condition would fetch between $13,500 and $45,000.

According to the reports regarding its newest model, “It doesn’t get much better than the 2012 Chevy Camaro!”

The Edmunds review praised the performance of the 2012 Camaro pointing out the handling and fast acceleration and fuel efficiency, but also found that the rear seating was cramped and the trunk quite small.

Reviews for the Corvette

Edmunds considers Corvette to be one of the best bargains in the world. According to reviewers, the car may come off as unrefined but is packed with old-fashioned muscle.

The 2013 Corvette has amazing acceleration tempered by its world-renowned braking and handling.

Critics claim the Corvette lacks the agility of some competitor’s models and that the interior of the car is old-fashioned.

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The Winner

Automobile Magazine says that both cars are a treat to own. As GM and Chevrolet manufacture both, there are many similarities in both styling and performance.

Both vehicles boast tremendous zero to 60 acceleration, attractive styling, and exceptional handling.

The more expensive car, the Corvette will always cost a bit more to insure but it will certainly be worth the extra cost to drive a truly original American classic.

However, if your budget says Camaro, you’ll still be driving one heck of a sports car!

Before you buy car insurance, comparison shop online by entering your zip in the free search tool on this page!