Chevrolet Silverado EV Insurance Rates

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UPDATED: Mar 28, 2024

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U.S. average insurance rates for a Chevrolet Silverado EV are $1,814 a year for full coverage insurance. Comprehensive insurance costs around $384, collision insurance costs $810, and liability is estimated at $440. Buying just liability costs approximately $510 a year, and insurance for high-risk drivers costs $3,958 or more. Teen drivers pay the highest rates at up to $6,676 a year.

Average premium for full coverage: $1,814

Price estimates for individual coverage:

Comprehensive $384
Collision $810
Liability $440

Estimates include $500 comprehensive and collision deductibles, bodily injury liability limits of 30/60, and includes medical and UM/UIM coverage. Estimates are averaged for all 50 states and for different Silverado EV trim levels.

Price Range from Low to High

For the normal driver, Chevrolet Silverado EV insurance prices range from as low as $510 for just liability insurance to a much higher rate of $3,958 for a driver who has had serious violations or accidents.

Liability Only $510
Full Coverage $1,814
High Risk $3,958

Geographic Price Range

Living in a larger city can make a big difference on car insurance rates. Areas with sparse population have a lower frequency of physical damage claims than larger metro areas. The price range example below illustrates how geographic area affects auto insurance rates.

Rural Areas $1,361
Small Cities $1,905
Large Cities $2,449

The ranges above illustrate why anyone shopping for car insurance should get quotes for a specific zip code and risk profile, instead of making a decision based on price 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.

More Rate Details

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

  • The lowest rate with discounts is $1,018
  • Choosing higher $1,000 deductibles can save about $270 each year
  • The average rate for the average middle-age driver using $500 deductibles is $1,814
  • Choosing more expensive low deductibles for comp and collision coverage will cost an extra $534 annually
  • Higher-risk drivers with multiple violations and an at-fault accident could pay at least $3,958
  • The price for full coverage for a 16-year-old driver with full coverage can be $6,676 each year

View Chart as Image

Chevrolet Silverado EV insurance cost comparison chart
Column chart showing Chevrolet Silverado EV insurance prices range from $1,018 to $6,676 for full coverage

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

An older driver with no violations or accidents and high deductibles may pay as low as $1,700 annually on average for full coverage. Prices are highest for teenage drivers, where even good drivers should be prepared to pay as much as $6,600 a year. View Rates by Age

The state you live in plays a big part in determining prices for Chevrolet Silverado EV insurance prices. A good driver about age 40 could pay as low as $1,190 a year in states like Vermont, Wisconsin, and North Carolina, or as much as $2,450 on average in Michigan, New York, and Florida.

Chevrolet Silverado EV Insurance Rates by State
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%

View Chart as Image

Chevrolet Silverado EV insurance rates by U.S. city

Choosing high deductibles can save as much as $810 annually, while increasing your policy's liability limits will increase prices. Switching from a 50/100 limit to a 250/500 limit will increase prices by as much as $396 more each year. View Rates by Deductible or Liability Limit

If you have some driving violations or tend to cause accidents, you are probably paying at least $2,200 to $2,900 additional each year, depending on your age. High-risk driver insurance ranges from 43% to 135% more than average. View High Risk Driver Rates

Chevrolet Silverado EV Insurance Rates by Model Year
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 Find Low Cost Chevrolet Silverado EV Insurance

Getting lower rates on insurance for a Chevrolet Silverado EV takes having a decent driving record, having a good credit history, not filing small claims, and deciding if full coverage is necessary. Invest the time to compare rates every other policy renewal by getting quotes from direct insurance companies like Progressive and GEICO, and also from local exclusive and independent agents.

The following items are a review of the ideas that were presented in the illustrations above.

  • 16 to 18-year-old drivers are charged the highest prices, as much as $556 a month including comprehensive and collision insurance
  • Drivers considered higher risk who have several accidents or serious violations may pay on average $2,140 more every year than a driver with a clean driving record
  • Increasing physical damage deductibles can save around $800 each year
  • It is possible to save up to $230 per year just by shopping early and online

Rates by Driver Age

Chevrolet Silverado EV Insurance 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

Chevrolet Silverado EV Insurance Rates with Different Deductibles
Deductible Premium
$100 $2,348
$250 $2,100
$500 $1,814
$1,000 $1,544

Full coverage, driver age 40

Rates by Liability Limit

Chevrolet Silverado EV Insurance Rates with Different Liability Limits
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

Chevrolet Silverado EV Insurance 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.

SR-22 Surcharge $261

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
Rate after discounts $1,018

Discounts are estimated and may not be available from every company or in every state.

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