Chevrolet Silverado EV Insurance Rates
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Michelle Robbins
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Michelle Robbins has been a licensed insurance agent for over 13 years. Her career began in the real estate industry, supporting local realtors with Title Insurance. After several years, Michelle shifted to real estate home warranty insurance, where she managed a territory of over 100 miles of real estate professionals. Later, Agent Robbins obtained more licensing and experience serving families a...
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UPDATED: Mar 28, 2024
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Average auto insurance rates for a Chevrolet Silverado EV are $1,814 annually for full coverage. Comprehensive costs on average $384, collision costs $810, and liability coverage costs $440. Liability-only coverage costs as little as $510 a year, with high-risk coverage costing around $3,958. 16-year-old drivers receive the highest rates at $6,676 a year or more.
Average premium for full coverage: $1,814
Rate estimates by individual coverage type:
Prices are based on $500 comprehensive and collision deductibles, liability limits of 30/60, and includes UM/UIM and medical coverage. Rates are averaged for all states and for different Silverado EV trim levels.
Price Range by Coverage and Risk
For the average 40-year-old driver, prices range go from as cheap as $510 for a discount liability-only rate to a much higher rate of $3,958 for a driver that may need high-risk insurance.
Price Range by Location
Your location has a large influence on car insurance rates. Rural areas tend to have fewer accident claims than congested cities.
The price range example below illustrates the difference location can make on car insurance rates.
These examples show why anyone shopping for car insurance should compare rates based on a specific location and their own personal driving habits, rather than using rate averages.
Use the form below to get customized rates for your location.
Enter your zip code below to view companies based on your location that have cheap auto insurance rates.
Rates by State, City, and Model
The chart below shows estimated Chevrolet Silverado EV insurance rates for different risk profiles and scenarios.
- The best full coverage rate is $1,018
- Drivers who choose higher $1,000 deductibles will pay around $270 a year
- The estimated rate for a 40-year-old driver with $500 deductibles is $1,814
- Buying more expensive low deductibles for comprehensive and collision insurance will cost $2,348
- High-risk insureds with multiple tickets or accidents could pay upwards of $3,958 or more
- The cost with full coverage for a teenage driver with full coverage may cost $6,676 a year
Car insurance rates for a Chevrolet Silverado EV can also vary considerably based on the trim level of your Silverado EV, your driver profile, and policy deductibles and limits.
An older driver with no driving violations and high physical damage deductibles may only pay around $1,700 per year on average for full coverage. Rates are highest for teen drivers, where even without any violations or accidents they will be charged upwards of $6,600 a year. View Rates by Age
If you like to drive fast or you caused a few accidents, you could be paying at a minimum $2,200 to $2,900 extra per year, depending on your age. High-risk driver insurance can cost around 43% to 135% more than the average rate. View High Risk Driver Rates
Opting for high physical damage deductibles could save up to $810 a year, while increasing your policy's liability limits will cost you more. Going from a 50/100 bodily injury limit to a 250/500 limit will cost as much as $396 extra every 12 months. View Rates by Deductible or Liability Limit
Where you live makes a big difference in Chevrolet Silverado EV insurance rates. A 40-year-old driver could pay as low as $1,200 a year in states like Idaho, Maine, and Iowa, or at least $2,590 on average in Michigan, Louisiana, and New York.
| State | Premium | Compared to U.S. Avg | Percent Difference |
|---|---|---|---|
| Alabama | $1,640 | -$174 | -9.6% |
| Alaska | $1,394 | -$420 | -23.2% |
| Arizona | $1,508 | -$306 | -16.9% |
| Arkansas | $1,814 | -$0 | 0.0% |
| California | $2,068 | $254 | 14.0% |
| Colorado | $1,732 | -$82 | -4.5% |
| Connecticut | $1,864 | $50 | 2.8% |
| Delaware | $2,054 | $240 | 13.2% |
| Florida | $2,270 | $456 | 25.1% |
| Georgia | $1,676 | -$138 | -7.6% |
| Hawaii | $1,302 | -$512 | -28.2% |
| Idaho | $1,230 | -$584 | -32.2% |
| Illinois | $1,350 | -$464 | -25.6% |
| Indiana | $1,370 | -$444 | -24.5% |
| Iowa | $1,226 | -$588 | -32.4% |
| Kansas | $1,724 | -$90 | -5.0% |
| Kentucky | $2,476 | $662 | 36.5% |
| Louisiana | $2,688 | $874 | 48.2% |
| Maine | $1,122 | -$692 | -38.1% |
| Maryland | $1,498 | -$316 | -17.4% |
| Massachusetts | $1,450 | -$364 | -20.1% |
| Michigan | $3,152 | $1,338 | 73.8% |
| Minnesota | $1,518 | -$296 | -16.3% |
| Mississippi | $2,176 | $362 | 20.0% |
| Missouri | $1,612 | -$202 | -11.1% |
| Montana | $1,952 | $138 | 7.6% |
| Nebraska | $1,432 | -$382 | -21.1% |
| Nevada | $2,178 | $364 | 20.1% |
| New Hampshire | $1,310 | -$504 | -27.8% |
| New Jersey | $2,030 | $216 | 11.9% |
| New Mexico | $1,606 | -$208 | -11.5% |
| New York | $1,914 | $100 | 5.5% |
| North Carolina | $1,046 | -$768 | -42.3% |
| North Dakota | $1,488 | -$326 | -18.0% |
| Ohio | $1,254 | -$560 | -30.9% |
| Oklahoma | $1,864 | $50 | 2.8% |
| Oregon | $1,662 | -$152 | -8.4% |
| Pennsylvania | $1,730 | -$84 | -4.6% |
| Rhode Island | $2,422 | $608 | 33.5% |
| South Carolina | $1,644 | -$170 | -9.4% |
| South Dakota | $1,532 | -$282 | -15.5% |
| Tennessee | $1,588 | -$226 | -12.5% |
| Texas | $2,186 | $372 | 20.5% |
| Utah | $1,342 | -$472 | -26.0% |
| Vermont | $1,244 | -$570 | -31.4% |
| Virginia | $1,086 | -$728 | -40.1% |
| Washington | $1,402 | -$412 | -22.7% |
| West Virginia | $1,666 | -$148 | -8.2% |
| Wisconsin | $1,254 | -$560 | -30.9% |
| Wyoming | $1,616 | -$198 | -10.9% |
With so much variability in rates, the only way to know exactly what you will pay is to compare rates and see how they stack up. Every company utilizes a different rate formula, so rate quotes can be significantly different between companies.
| Model Year | Comprehensive | Collision | Liability | Total Premium |
|---|---|---|---|---|
| 2024 Chevrolet Silverado EV | $384 | $810 | $440 | $1,814 |
| 2023 Chevrolet Silverado EV | $370 | $804 | $450 | $1,804 |
Rates are averaged for all Chevrolet Silverado EV models and trim levels. Rates assume a 40-year-old male driver, full coverage with $500 deductibles, and a clean driving record.
How to Buy Affordable Chevrolet Silverado EV Insurance
Saving money on auto insurance not only requires having a decent driving record, but also having a good credit score, eliminating unneeded coverage, and maximizing policy discounts. Make time to compare rates once a year by obtaining price quotes from direct carriers like Progressive and GEICO, and also from local insurance agents.
The following items are a brief review of the data that was touched on in this article.
- Drivers can save as much as $230 per year simply by shopping early and online
- Consumers who require additional liability coverage will pay around $480 each year to go from a minimum limit to higher 250/500 limits
- 16 to 18-year-old drivers are expensive to insure, costing as high as $556 per month if comprehensive and collision insurance is included
- Drivers with DUI or reckless driving convictions may be required to pay an average of $2,140 more each year than a driver with a clean driving record
Rate Tables and Charts
Rates by Driver Age
| Driver Age | Premium |
|---|---|
| 16 | $6,676 |
| 20 | $4,236 |
| 30 | $1,908 |
| 40 | $1,814 |
| 50 | $1,656 |
| 60 | $1,628 |
Full coverage, $500 deductibles
Rates by Deductible
| Deductible | Premium |
|---|---|
| $100 | $2,348 |
| $250 | $2,100 |
| $500 | $1,814 |
| $1,000 | $1,544 |
Full coverage, driver age 40
Rates by Liability Limit
| Liability Limit | Premium |
|---|---|
| 30/60 | $1,814 |
| 50/100 | $1,902 |
| 100/300 | $2,012 |
| 250/500 | $2,298 |
| 100 CSL | $1,946 |
| 300 CSL | $2,188 |
| 500 CSL | $2,364 |
Full coverage, driver age 40
Rates for High Risk Drivers
| Age | Premium |
|---|---|
| 16 | $9,576 |
| 20 | $6,746 |
| 30 | $4,058 |
| 40 | $3,958 |
| 50 | $3,776 |
| 60 | $3,746 |
Full coverage, $500 deductibles, two speeding tickets, and one at-fault accident
If a financial responsibility filing is required, the additional charge below may also apply.
Potential Rate Discounts
If you qualify for discounts, you may save the amounts shown below.
| Discount | Savings |
|---|---|
| Multi-policy | $98 |
| Multi-vehicle | $96 |
| Homeowner | $25 |
| 5-yr Accident Free | $143 |
| 5-yr Claim Free | $119 |
| Paid in Full/EFT | $90 |
| Advance Quote | $94 |
| Online Quote | $131 |
| Total Discounts | $796 |
Discounts are estimated and may not be available from every company or in every state.
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