Chevrolet Silverado Insurance Rates

Chevrolet Silverado car insurance rates amount to $1,484 a year, or around $124 a month on average. With a little research, it’s easy to find cheap auto insurance for the Chevy Silverado with numerous Chevrolet Silverado money-saving safety features.

There are a number of factors that ultimately determine Chevy Silverado insurance rates, such as the model year of your pickup. For example, the insurance cost for a 2017 Silverado or 1998 Chevrolet 1500 insurance cost will be more affordable than the newest available model. 

Use this Chevrolet Silverado insurance overview to serve as your main point of reference as you explore car insurance options. Always compare quotes from multiple insurance companies before you buy Chevrolet Silverado auto insurance.

Want to know if you can qualify for affordable Chevrolet Silverado car insurance rates? Once you’re ready, enter your five-digit ZIP code to start comparing Chevrolet Silverado quotes from multiple companies near you.

Estimated insurance rates for a Chevrolet Silverado are $1,442 a year for full coverage. Comprehensive insurance costs approximately $274 a year, collision costs $502, and liability is estimated at $486. A policy with only liability insurance costs approximately $548 a year, with a high-risk policy costing $3,122 or more. Teens pay the most at $5,516 a year or more.

Average premium for full coverage: $1,442

Premium estimates by type of coverage:

Price estimates include $500 comprehensive and collision deductibles, split liability limits of 30/60, and includes medical/PIP and uninsured motorist coverage. Rates include averaging for all states and Silverado trim levels.

Insurance Price Range by Risk and Coverage

Insurance Price Range by Location

Living in a larger city can make a big difference on car insurance rates. Rural locations are statistically proven to have lower incidents of accident claims than cities with more traffic congestion.

The diagram below illustrates how rural and urban location affects auto insurance prices.

These rate differences show why it is important to get quotes using their specific location, instead of making a decision based on averaged prices.

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

Additional Charts and Tables

There are a ton of questions to consider when shopping for a new vehicle. If you’re looking to switch from a car to your first truck, be prepared for even more change. How much does it cost to insure a new truck? How much should my truck insurance be? There are a handful of factors that matter here.

Even for a specific brand, there can be a ton of variation. How much does it cost to insure my Chevrolet Silverado? This will depend on the driver, the model and year of the truck, and even your state. You can expect to spend nearly three times as much in a big city than in a suburban area.

How much is insurance on a 2020 Silverado? You’ll see below that you’d only need to pay a few more dollars per month on a new Silverado compared to a 2015 model. Let’s look at how the Chevy Silverado insurance rates can change.

 

The chart below shows estimated Chevrolet Silverado insurance rates for additional coverage and risk scenarios.

• The cheapest rate after discounts is $837
• Choosing higher $1,000 deductibles can save $1,266 a year
• The estimated price for a 40-year-old good driver who chooses $500 deductibles is $1,442
• Selecting low $100 deductibles for comp and collision coverage will cost an additional $342 annually
• Higher-risk drivers with serious driving violations could pay around $3,122 or more
• An auto insurance policy that insures a 16-year-old driver can cost $5,516 each year

View Chart as Image

Car insurance prices for a Chevrolet Silverado also have a wide range based on the trim level of your Silverado, how you drive, and physical damage deductibles and liability limits.

If you have a few violations or you caused an accident, you could be paying anywhere from $1,700 to $2,400 extra annually, depending on your age. A high-risk auto insurance policy ranges from 44% to 131% more than the average policy. View High Risk Driver Rates

Older drivers with no driving violations and higher comprehensive and collision deductibles may pay as low as $1,300 annually on average, or $108 per month, for full coverage. Prices are much higher for drivers in their teens, since even teens with perfect driving records will be charged in the ballpark of $5,500 a year. View Rates by Age

Where you choose to live plays a big part in determining prices for Chevrolet Silverado insurance prices. A good driver about age 40 could pay as low as $950 a year in states like Iowa, Maine, and Idaho, or have to pay at least $2,050 on average in New York, Louisiana, and Michigan.

View Chart as Image

Choosing higher comprehensive and collision insurance deductibles can save as much as $520 annually, while buying higher liability limits will push prices upward. Going from a 50/100 bodily injury protection limit to a 250/500 limit will cost up to $387 extra every 12 months. View Rates by Deductible or Liability Limit

With such a large range in prices, the only way to know who has the cheapest car insurance prices is to get quotes from multiple companies. Each auto insurer calculates prices differently, so rate quotes will be substantially different.

Insurance Rates by Trim Level and Model Year

Rates assume 2020 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

Finding better rates on insurance for a Chevrolet Silverado takes having a decent driving record, having a positive credit history, not filing small claims, and avoiding coverage lapses. Compare rates at least once a year by requesting quotes from direct carriers, and also from insurance agencies where you live.

The following items are a condensed summary of the primary concepts that were raised in the charts and tables above.

• Drivers can save around $170 per year simply by quoting early and online
• Drivers considered higher risk with multiple at-fault accidents could be forced to pay on average $1,680 more per year than a driver with a clean driving record
• Increasing policy deductibles can save approximately $525 each year
• 16 to 18-year-old drivers pay the highest auto insurance prices, as much as $460 per month if full coverage is purchased

As you can see from the information we’ve gone over to this point, it’s clear that there are differences in costs when it comes to a Chevy Silverado insurance policy. Are pickup trucks more expensive to insure? How much is truck insurance monthly?

Chevy truck quotes will vary just like other cars. For example, 2019 Chevy Silverado insurance costs are higher than 2017 Silverado pickup truck insurance costs.

The best way to find cheap Chevrolet Silverado car insurance quotes is by learning more about the Chevrolet Silverado and comparing rates from multiple insurers.

Don’t forget, there are other truck options to think about too. How does the Chevrolet Silverado compare to other car models? Read on to learn more.

What are the Chevrolet Silverado safety ratings?

How can I save money on Chevrolet Silverado 1500 insurance? It’s important to consider the Chevy Silverado safety ratings to get a proper understanding of where you might qualify for policy discounts. Safer vehicles qualify for cheaper car insurance rates. 

Take a look at the safety ratings of the Chevrolet Silverado below so you can see where you might be eligible for policy discounts.

• Small overlap front (driver-side): Good
• Small overlap front (passenger-side): Marginal
• Moderate overlap front: Good
• Side: Good
• Roof strength: Good
• Head restraints and seats: Good

For a frame of reference, the Insurance Institute for Highway Safety classifies “Good” as the highest rating possible. The Chevy Silverado achieved that mark in every part of the car that was tested with the exception of the small overlap on the passenger’s side of the vehicle.

Chevrolet Silverado Crash Test Ratings

Take a look at the Chevrolet Silverado crash test ratings below.

Chevrolet Silverado Crash Test Ratings 

Better crash test ratings mean cheaper insurance rates. If you’re wondering what truck has the cheapest insurance, it’s usually the one with the best safety ratings.

Chevrolet Silverado Insurance Loss Probability

A good insurance loss probability is a low one. A high insurance loss probability means insurers will charge higher rates.

Chevrolet Silverado Insurance Loss Probability

Most of these insurance loss probabilities are in the negative, which is great. How do safety ratings for the Chevrolet Silverado 1500 compare to similar cars?

When you’re reviewing Chevrolet Silverado 1500 car insurance information, you’ll notice that most of their safety ratings and features are desirable for consumers and insurers.

Chevrolet Silverado Compared Against Other Vehicles in the Same Class

Officially, the Chevrolet Silverado is classified as a large pickup by the Insurance Institute for Highway Safety. Other similar models include the following:

• Ford F-150
• GMC Sierra
• Nissan Titan

When providing you with a quote, insurance companies will consider the loss percentages of the Chevrolet Silverado as it compares to other similar models in this class. 

The good news is that the Chevy Silverado reflects a property damage liability loss percentage of 13 percent and a bodily injury liability loss percentage of 4 percent. Both of these figures are considered standard for this vehicle class.

Now that we have gone into great detail about how Chevy Silverado insurance rates are calculated, is there anything we might have missed? Are you ready to find a Chevrolet car insurance company near you?

Start comparing Chevrolet Silverado quotes from multiple companies through the use of our free online tool.

References: 

1. https://www.iihs.org/ratings/vehicle/Chevrolet/silverado-1500-crew-cab-pickup/2020
2. https://www.nhtsa.gov/ratings