Chevrolet Silverado EV Insurance Rates

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Jeffrey Johnson

Insurance Lawyer

Jeffrey Johnson is a legal writer with a focus on personal injury. He has worked on personal injury and sovereign immunity litigation in addition to experience in family, estate, and criminal law. He earned a J.D. from the University of Baltimore and has worked in legal offices and non-profits in Maryland, Texas, and North Carolina. He has also earned an MFA in screenwriting from Chapman Univer...

Insurance Lawyer

UPDATED: Mar 28, 2024

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Estimated auto insurance rates for a Chevrolet Silverado EV are $1,814 annually including full coverage. Comprehensive insurance costs an estimated $384 each year, collision insurance costs $810, and liability is $440. Liability-only insurance costs around $510 a year, and high-risk driver insurance costs $3,958 or more. Teenage drivers pay the most at up to $6,676 a year.

Average premium for full coverage: $1,814

Premium estimates broken down by type of coverage:

Comprehensive $384
Collision $810
Liability $440

Prices include $500 physical damage insurance deductibles, 30/60 liability coverage, and includes both medical and UM/UIM coverage. Rates include averaging for all 50 U.S. states and Silverado EV models.

Insurance Price Range by Risk and Coverage

Using a 40-year-old driver as an example, insurance rates for a Chevrolet Silverado EV range from as cheap as $510 for basic liability insurance to a high rate of $3,958 for a policy for a high-risk driver.

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

Insurance Price Range by Location

Choosing to live in a large city can make a big difference on the price of auto insurance. More rural locations are statistically proven to have fewer comprehensive and collision claims than densely populated cities. The graphic below illustrates how rural and urban location affects insurance prices.

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

These rate differences highlight why all drivers should compare rates quotes for a targeted area and their own personal driving habits, instead of making a decision based on average rates.

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.

Rate Comparisons

The chart below breaks down average Chevrolet Silverado EV insurance rates for other coverage scenarios.

  • The best discount rate is $1,018
  • Raising to $1,000 deductibles will save approximately $270 every year
  • The estimated rate for a 40-year-old good driver who has $500 deductibles is $1,814
  • Using low deductibles costs an additional $534 annually
  • Drivers who are prone to accidents and violations could pay up to $3,958
  • An auto insurance policy with full coverage for a 16-year-old driver can cost as much as $6,676

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 also have a wide range based on the model of your Silverado EV, your driving characteristics, and liability limits and deductibles.

More mature drivers with no violations or accidents and high physical damage deductibles may pay as low as $1,700 every 12 months on average, or $142 per month, for full coverage. Prices are much higher for drivers in their teens, where even without any violations or accidents they should be prepared to pay at least $6,600 a year. View Rates by Age

If you have a few violations or you caused a few accidents, you are likely paying $2,200 to $2,900 additional annually, depending on your age. Insurance for high-risk drivers is expensive and can cost from 43% to 135% more than a normal policy. View High Risk Driver Rates

Using high physical damage deductibles can reduce prices by up to $810 annually, whereas increasing liability limits will increase premiums. Changing from a 50/100 bodily injury limit to a 250/500 limit will cost up to $396 more each year. View Rates by Deductible or Liability Limit

Where you choose to live also has a big influence on Chevrolet Silverado EV insurance prices. A middle-age driver might find prices as low as $1,390 a year in states like Vermont, New Hampshire, and Missouri, or be forced to pay as much as $2,590 on average in Louisiana, New York, and Michigan.

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
Chevrolet Silverado EV Insurance Rates by Model Year
Model Year Comprehensive Collision Liability Total Premium
2024 Chevrolet Silverado EV $404 $844 $420 $1,848
2023 Chevrolet Silverado EV $384 $810 $440 $1,814

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 the Right Chevrolet Silverado EV Insurance

Finding better rates on insurance for a Chevrolet Silverado EV consists of being a low-risk driver, having good credit, refrain from filing small claims, and possibly raising deductibles. Set aside time to shop around every year by getting quotes from direct car insurance companies, and also from insurance agencies where you live.

The items below are a quick rundown of the coverage data raised in the charts and tables above.

  • You may be able to save approximately $230 per year just by quoting online in advance
  • Increasing policy deductibles could save up to $800 each year
  • Teen drivers are expensive to insure, with the cost nearing $556 per month if they have full coverage
  • Drivers considered higher risk with reckless driving or DUI convictions could be forced to pay on average $2,140 more annually to insure their Silverado EV

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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