Chevrolet Silverado Insurance Rates

The average insurance rates for a Chevrolet Silverado are $1,424 a year for full coverage insurance. Comprehensive costs around $260 a year, collision costs $484, and liability costs $500. Liability-only coverage costs as little as $560 a year, with high-risk coverage costing around $3,088. Teenage drivers cost the most to insure at $5,494 a year or more.

Average premium for full coverage: $1,424

Policy rates for type of insurance:

Full coverage includes $500 policy deductibles, bodily injury liability limits of 30/60, and includes UM/UIM and medical coverage. Prices are averaged for all 50 states and Silverado trim levels.

Price Range Variability

Urban vs. Rural Price Range

Your location can make a big difference on car insurance rates. Areas with sparse population are shown to have lower incidents of physical damage claims than densely populated cities.

The diagram below illustrates how your location can change auto insurance rates.

The examples above illustrate why it is important to compare rates for a specific zip code, instead of making a decision based on average rates.

Use the form below to get customized rates for your location.

Rates by State, City, and Model

The chart below illustrates estimated Chevrolet Silverado insurance rates for additional coverage choices and driver risks.

• The best discount rate is $827
• Drivers who choose higher $1,000 deductibles will pay about $1,256 each year
• The estimated price for a good driver age 40 using $500 deductibles is $1,424
• Using low $100 deductibles for comprehensive and collision insurance bumps up the cost to $1,752
• Drivers who are prone to accidents and violations could pay at least $3,088 or more
• Policy cost that insures a 16-year-old driver can be $5,494 a year

View Chart as Image

Insurance rates for a Chevrolet Silverado also range considerably based on the trim level of your Silverado, your age and driving record, and deductibles and policy limits.

If you have a few points on your driving record or you caused an accident, you are probably paying at least $1,700 to $2,400 additional every year, depending on your age. A high-risk auto insurance policy can cost from 44% to 133% more than a normal policy. View High Risk Driver Rates

Older drivers with no violations or accidents and higher comprehensive and collision deductibles may pay as low as $1,300 per year on average, or $108 per month, for full coverage. Rates are much higher for teenagers, since even teens with perfect driving records should be prepared to pay as much as $5,400 a year. View Rates by Age

Your home state makes a big difference in Chevrolet Silverado insurance prices. A 40-year-old driver could pay as low as $930 a year in states like Vermont, Wisconsin, and North Carolina, or be forced to pay as much as $1,920 on average in Michigan, New York, and Florida.

View Chart as Image

Using high physical damage deductibles could save up to $500 annually, while buying higher liability limits will increase rates. Switching from a 50/100 bodily injury protection limit to a 250/500 limit will raise rates by up to $398 more each year. View Rates by Deductible or Liability Limit

Because rates have so much variability, the only way to figure out your exact price is to get quotes from multiple companies. Every company uses a different method to calculate rates, and rates will be varied.

Insurance Rates by Trim Level and Model Year

Rates assume 2021 model year, a 40-year-old male driver with no accidents or violations, $500 comprehensive and collision deductibles, minimum liability limits, and uninsured/under-insured motorist coverage included. Rates are for comparison only and are averaged for all 50 U.S. states.

How to Find More Affordable Chevrolet Silverado Insurance

Finding cheaper rates on insurance for a Chevrolet Silverado not only requires being a good driver, but also having a good credit score, being claim-free, and taking advantage of discounts. Compare prices every other policy renewal by quoting rates from direct insurance companies, and also from insurance agencies where you live.

The following list is a summary of the ideas that were illustrated above.

• Drivers age 16 to 20 are charged the highest rates, possibly costing $458 each month if comprehensive and collision insurance is included
• Drivers considered higher risk who have multiple accidents or major violations could be forced to pay on average $1,660 more every year than a safer driver
• Increasing comprehensive and collision deductibles can save approximately $500 each year
• It is possible to save up to $170 per year simply by quoting early and online