Chevrolet Silverado EV Insurance Rates
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UPDATED: Mar 28, 2024
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The average insurance prices for a Chevrolet Silverado EV are $1,814 every 12 months including full coverage. Comprehensive insurance costs around $384 a year, collision costs $810, and liability coverage costs around $440. Liability-only coverage costs as low as $510 a year, with high-risk coverage costing $3,958 or more. Teens cost the most to insure at $6,676 a year or more.
Average premium for full coverage: $1,814
Policy rates for type of insurance:
Prices include $500 policy deductibles, 30/60 split liability limits, and includes medical/PIP and uninsured motorist coverage. Prices are averaged for all 50 U.S. states and Silverado EV trim levels.
Price Range Variability
For the average driver, Chevrolet Silverado EV insurance rates go from the cheapest price of $510 for liability-only coverage to a high of $3,958 for a high-risk insurance policy.
Urban vs. Rural Price Range
Where you live has a large influence on the price of insurance. Areas with sparse population are shown to have more infrequent comprehensive and collision claims than cities with more traffic congestion.
The diagram below illustrates how location impacts auto insurance rates.
The examples above highlight why it is important to compare prices for a specific zip code and their own driving history, rather than using averaged prices.
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.
Additional Charts and Tables
The chart below breaks down estimated Chevrolet Silverado EV insurance rates for additional coverage choices and driver risks.
- The cheapest rate after discounts is $1,018
- Using higher $1,000 deductibles will save about $1,544 every year
- The average price for a good driver age 40 using $500 deductibles is $1,814
- Selecting low $100 deductibles for physical damage coverage costs an extra $534 each year
- Higher-risk drivers with serious driving violations could pay at least $3,958 or more
- Policy cost to insure a teenage driver can be $6,676 or more
Insurance rates for a Chevrolet Silverado EV also range considerably based on liability limits and deductibles, your driving characteristics, and the trim level and model year.
Choosing higher comprehensive and collision insurance deductibles could cut rates by as much as $810 a year, while buying higher liability limits will increase rates. Changing from a 50/100 liability limit to a 250/500 limit will raise rates by up to $396 more each year. View Rates by Deductible or Liability Limit
Older drivers with no violations or accidents and higher deductibles may only pay around $1,700 a year, or $142 per month, for full coverage. Rates are much higher for teenagers, since even excellent drivers should be prepared to pay as much as $6,600 a year. View Rates by Age
If you have a few points on your driving record or you were responsible for an accident, you are likely paying at least $2,200 to $2,900 additional every year, depending on your age. A high-risk auto insurance policy can be around 43% to 135% more than the average policy. View High Risk Driver Rates
Your home state has a huge impact on Chevrolet Silverado EV insurance rates. A driver around age 40 might see rates as low as $1,390 a year in states like Missouri, New Hampshire, and Vermont, or have to pay at least $2,590 on average in Michigan, New York, and Louisiana.
| 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% |
Because rates have so much variability, the best way to figure out your exact price is to get quotes and see how they stack up. Each insurance company calculates rates differently, and rates will be varied.
| 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 Shop for the Right Chevrolet Silverado EV Insurance
Finding cheaper rates on auto insurance requires avoiding accidents and claims, having above-average credit, paying for small claims out-of-pocket, and taking advantage of discounts. Spend time shopping around at least every other year by quoting rates from direct car insurance companies, and also from insurance agencies where you live.
The points below are a quick rundown of the car insurance concepts touched on above.
- Drivers with reckless driving or DUI convictions could be forced to pay on average $2,140 more every year to insure a Chevrolet Silverado EV
- You may be able to save up to $230 per year simply by quoting early and online
- Increasing comprehensive and collision deductibles could save as much as $800 each year
- Consumers who may need increased liability limits will pay approximately $480 per year to increase from a 30/60 limit to a 250/500 level
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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