Chevrolet Silverado EV Insurance Rates
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Michelle Robbins
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UPDATED: Mar 28, 2024
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The average insurance rates for a Chevrolet Silverado EV are $1,804 a year for full coverage insurance. Comprehensive costs around $370, collision costs $804, and liability is estimated at $450. Buying just liability costs approximately $518 a year, with insurance for high-risk drivers costing around $3,938. 16-year-old drivers cost the most to insure at $6,674 a year or more.
Average premium for full coverage: $1,804
Policy rates for type of insurance:
Price estimates include $500 policy deductibles, 30/60 split liability limits, and includes medical/PIP and uninsured motorist coverage. Prices are averaged for all 50 states and for all Silverado EV models.
Price Range Variability
For a driver in their 40's, Chevrolet Silverado EV insurance rates go from the low end price of $518 for liability-only coverage to the much higher price of $3,938 for a high-risk insurance policy.
Urban vs. Rural Price Range
Living in a larger city can have significant affects on car insurance rates. Areas with sparse population are shown to have lower incidents of physical damage claims than congested cities.
The example below illustrates how location helps determine auto insurance rates.
The examples above illustrate why everyone should get quotes for a specific zip code, instead of 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.
Additional Charts and Tables
The chart below illustrates estimated Chevrolet Silverado EV insurance rates for additional coverage choices and driver risks.
- The best full coverage rate is $1,011
- Choosing higher $1,000 deductibles can save about $266 each year
- The estimated price for a good driver age 40 using $500 deductibles is $1,804
- Buying pricier low deductibles for comp and collision coverage bumps up the cost to $2,326
- Unlucky drivers with multiple tickets or accidents could pay at least $3,938 or more
- Policy cost that insures a teen driver for full coverage can be $6,674 each year
Insurance rates for a Chevrolet Silverado EV also range considerably based on the model of your Silverado EV, 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 $2,200 to $2,900 extra every year, depending on your age. Chevrolet Silverado EV insurance for high-risk drivers ranges as much as 43% to 136% more than the average rate. View High Risk Driver Rates
A more mature driver with a clean driving record and higher comprehensive and collision deductibles may pay as little as $1,700 annually on average, or $142 per month, for full coverage. Rates are highest for teenagers, since even teens with perfect driving records can expect to pay as much as $6,600 a year. View Rates by Age
Your home state plays a big part in determining prices for Chevrolet Silverado EV insurance prices. A good driver about age 40 could pay as low as $1,180 a year in states like Vermont, Wisconsin, and North Carolina, or at least $2,430 on average in Michigan, New York, and Florida.
| State | Premium | Compared to U.S. Avg | Percent Difference |
|---|---|---|---|
| Alabama | $1,630 | -$174 | -9.6% |
| Alaska | $1,384 | -$420 | -23.3% |
| Arizona | $1,498 | -$306 | -17.0% |
| Arkansas | $1,804 | -$0 | 0.0% |
| California | $2,054 | $250 | 13.9% |
| Colorado | $1,720 | -$84 | -4.7% |
| Connecticut | $1,852 | $48 | 2.7% |
| Delaware | $2,042 | $238 | 13.2% |
| Florida | $2,254 | $450 | 24.9% |
| Georgia | $1,666 | -$138 | -7.6% |
| Hawaii | $1,296 | -$508 | -28.2% |
| Idaho | $1,222 | -$582 | -32.3% |
| Illinois | $1,344 | -$460 | -25.5% |
| Indiana | $1,360 | -$444 | -24.6% |
| Iowa | $1,218 | -$586 | -32.5% |
| Kansas | $1,712 | -$92 | -5.1% |
| Kentucky | $2,458 | $654 | 36.3% |
| Louisiana | $2,668 | $864 | 47.9% |
| Maine | $1,114 | -$690 | -38.2% |
| Maryland | $1,488 | -$316 | -17.5% |
| Massachusetts | $1,440 | -$364 | -20.2% |
| Michigan | $3,130 | $1,326 | 73.5% |
| Minnesota | $1,512 | -$292 | -16.2% |
| Mississippi | $2,162 | $358 | 19.8% |
| Missouri | $1,600 | -$204 | -11.3% |
| Montana | $1,936 | $132 | 7.3% |
| Nebraska | $1,420 | -$384 | -21.3% |
| Nevada | $2,162 | $358 | 19.8% |
| New Hampshire | $1,300 | -$504 | -27.9% |
| New Jersey | $2,016 | $212 | 11.8% |
| New Mexico | $1,596 | -$208 | -11.5% |
| New York | $1,898 | $94 | 5.2% |
| North Carolina | $1,038 | -$766 | -42.5% |
| North Dakota | $1,476 | -$328 | -18.2% |
| Ohio | $1,242 | -$562 | -31.2% |
| Oklahoma | $1,850 | $46 | 2.5% |
| Oregon | $1,650 | -$154 | -8.5% |
| Pennsylvania | $1,718 | -$86 | -4.8% |
| Rhode Island | $2,404 | $600 | 33.3% |
| South Carolina | $1,634 | -$170 | -9.4% |
| South Dakota | $1,522 | -$282 | -15.6% |
| Tennessee | $1,578 | -$226 | -12.5% |
| Texas | $2,170 | $366 | 20.3% |
| Utah | $1,334 | -$470 | -26.1% |
| Vermont | $1,234 | -$570 | -31.6% |
| Virginia | $1,080 | -$724 | -40.1% |
| Washington | $1,392 | -$412 | -22.8% |
| West Virginia | $1,654 | -$150 | -8.3% |
| Wisconsin | $1,248 | -$556 | -30.8% |
| Wyoming | $1,606 | -$198 | -11.0% |
Opting for high physical damage deductibles can save as much as $790 every year, whereas buying more liability protection will increase rates. Switching from a 50/100 bodily injury protection limit to a 250/500 limit will raise rates by up to $405 more per 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 regularly compare rates and see which company has the best rate. Each auto insurer utilizes a different rate formula, so the rates will be varied.
| Model Year | Comprehensive | Collision | Liability | Total Premium |
|---|---|---|---|---|
| 2024 Chevrolet Silverado EV | $370 | $804 | $450 | $1,804 |
| 2023 Chevrolet Silverado EV | $356 | $784 | $470 | $1,790 |
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 Find Cheaper Chevrolet Silverado EV Insurance
Finding cheaper rates on car insurance takes being a good driver, having above-average credit, being claim-free, and insuring your home and auto with the same company. Comparison shop at least every other year by getting quotes from direct insurance companies, and also from insurance agencies where you live.
The following list is a condensed summary of the car insurance concepts covered in the charts and tables above.
- Higher risk drivers with multiple at-fault accidents could be forced to pay on average $2,130 more every year than a safer driver
- It is possible to save up to $220 per year simply by quoting online well ahead of the renewal date
- Increasing comprehensive and collision deductibles can save approximately $800 each year
- Policyholders who may need an increased level of liability coverage will pay around $500 annually to raise limits from a 30/60 limit to the 250/500 level
Rate Tables and Charts
Rates by Driver Age
| Driver Age | Premium |
|---|---|
| 16 | $6,674 |
| 20 | $4,222 |
| 30 | $1,892 |
| 40 | $1,804 |
| 50 | $1,646 |
| 60 | $1,618 |
Full coverage, $500 deductibles
Rates by Deductible
| Deductible | Premium |
|---|---|
| $100 | $2,326 |
| $250 | $2,082 |
| $500 | $1,804 |
| $1,000 | $1,538 |
Full coverage, driver age 40
Rates by Liability Limit
| Liability Limit | Premium |
|---|---|
| 30/60 | $1,804 |
| 50/100 | $1,894 |
| 100/300 | $2,007 |
| 250/500 | $2,299 |
| 100 CSL | $1,939 |
| 300 CSL | $2,187 |
| 500 CSL | $2,367 |
Full coverage, driver age 40
Rates for High Risk Drivers
| Age | Premium |
|---|---|
| 16 | $9,568 |
| 20 | $6,724 |
| 30 | $4,040 |
| 40 | $3,938 |
| 50 | $3,760 |
| 60 | $3,730 |
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 | $97 |
| Multi-vehicle | $96 |
| Homeowner | $25 |
| 5-yr Accident Free | $143 |
| 5-yr Claim Free | $119 |
| Paid in Full/EFT | $89 |
| Advance Quote | $94 |
| Online Quote | $130 |
| Total Discounts | $793 |
Discounts are estimated and may not be available from every company or in every state.
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