Chevrolet Silverado Insurance Rates

U.S. average insurance rates for a Chevrolet Silverado are $1,424 a year for full coverage insurance. Comprehensive insurance costs around $260, collision costs $484, and liability coverage costs around $500. Buying just liability costs as low as $560 a year, with insurance for high-risk drivers costing $3,088 or more. 16-year-old drivers pay the highest rates at $5,494 a year or more.

Average premium for full coverage: $1,424

Price estimates for individual coverage:

Price estimates include $500 deductibles, split liability limits of 30/60, and includes uninsured motorist coverage. Estimates are averaged for all 50 states and for different Silverado trim levels.

Price Range from Low to High

Geographic Price Range

Where you live has a large influence on car insurance rates. Areas with sparse population have lower incidents of physical damage claims than congested cities.

The price range example below illustrates the difference location can make on auto insurance rates.

The ranges above illustrate why anyone shopping for car insurance should compare prices for a specific zip code, rather than using rate averages.

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

Insurance Rate Analysis

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

• The best full coverage rate is $827
• Using higher $1,000 deductibles will save about $168 each year
• The estimated price for the average middle-age driver using $500 deductibles is $1,424
• Buying more expensive low deductibles for physical damage coverage will cost an additional $328 each year
• Higher-risk drivers with multiple tickets or accidents could pay at least $3,088 or more
• The price that insures a teenage driver with full coverage can be $5,494 or more

View Chart as Image

Insurance prices for a Chevrolet Silverado are also quite variable based on the model year and trim level, your age and driving record, and deductibles and policy limits.

If you have some driving violations or you caused an accident, you are probably paying at least $1,700 to $2,400 additional each year, depending on your age. High-risk driver insurance can be around 44% to 133% more than the average rate. View High Risk Driver Rates

An older driver with no violations or accidents and higher comprehensive and collision deductibles may only pay around $1,300 a year for full coverage. Prices are highest for teenage drivers, since even teens with perfect driving records should be prepared to pay as much as $5,400 a year. View Rates by Age

The state you live in has a huge impact on Chevrolet Silverado insurance rates. A driver around age 40 might see prices as low as $930 a year in states like Vermont, Wisconsin, and North Carolina, or at least $1,920 on average in Michigan, New York, and Florida.

View Chart as Image

Opting for high physical damage deductibles could cut prices by as much as $500 a year, while increasing your policy's liability limits will increase prices. Switching from a 50/100 bodily injury protection limit to a 250/500 limit will increase prices by as much as $398 more each year. View Rates by Deductible or Liability Limit

Since prices can be so different, the only way to figure out your exact price is to compare prices and see how they stack up. Each insurance company utilizes a different rate formula, and prices may be quite different.

Insurance Rates by Trim Level and Model Year

Rates assume 2019 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 Cheaper Chevrolet Silverado Insurance

Getting lower rates on auto insurance requires being a safe driver, having a good credit score, not filing small claims, and taking advantage of discounts. Comparison shop at least once a year by getting quotes from direct insurance companies, and also from insurance agencies where you live.

Here is a condensed summary of the primary concepts that were touched on in this article.

• It is possible to save up to $170 per year simply by shopping early and online
• Drivers with multiple at-fault accidents could be forced to pay on average $1,660 more every year for insurance
• Increasing physical damage deductibles can save approximately $500 each year
• Young drivers are charged the highest prices, as much as $458 a month if comprehensive and collision insurance is included