Chevrolet Silverado EV Insurance Rates
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UPDATED: Mar 28, 2024
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Average insurance rates for a Chevrolet Silverado EV are $1,848 a year for full coverage insurance. Comprehensive insurance costs approximately $404 each year, collision costs $844, and liability insurance costs around $420. A liability-only policy costs as low as $494 a year, with high-risk insurance costing $4,022 or more. Teen drivers receive the highest rates at $6,736 a year or more.
Average premium for full coverage: $1,848
Rate estimates by individual coverage type:
Prices are based on $500 policy deductibles, liability limits of 30/60, and includes both medical and UM/UIM coverage. Rates are averaged for all 50 states and Silverado EV models.
Price Range by Coverage and Risk
For a driver around age 40, prices range go from as low as $494 for basic liability insurance to a high rate of $4,022 for a driver that may need high-risk insurance.
Price Range by Location
Where you live has a significant impact on the price of auto insurance. Rural locations tend to have a lower frequency of physical damage claims than larger metro areas.
The graphic below illustrates the difference between rural and urban areas on auto insurance prices.
These examples illustrate why all drivers should compare prices using their specific location and risk profile, rather than relying 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.
Rate Comparisons
The chart below illustrates estimated Chevrolet Silverado EV insurance rates for additional coverage and risk scenarios.
- The lowest rate with discounts is $1,036
- Using higher $1,000 deductibles will save $284 each year
- The average rate for a 40-year-old driver who chooses $500 deductibles is $1,848
- Choosing low deductibles for physical damage coverage will cost an extra $554 a year
- Drivers with multiple violations and an at-fault accident could pay around $4,022 or more
- The cost for full coverage for a teen driver can cost $6,736 or more
Insurance rates for a Chevrolet Silverado EV can also vary considerably based on your driver profile, the model year and trim level, and physical damage deductibles and liability limits.
More mature drivers with a clean driving record and high deductibles could pay as little as $1,700 a year for full coverage. Rates are highest for teen drivers, where even good drivers can expect to pay in the ballpark of $6,700 a year. View Rates by Age
Where you live has a huge impact on Chevrolet Silverado EV insurance rates. A driver around age 40 might see rates as low as $1,210 a year in states like North Carolina, Wisconsin, and Vermont, or as much as $2,490 on average in Florida, New York, and Michigan.
| State | Premium | Compared to U.S. Avg | Percent Difference |
|---|---|---|---|
| Alabama | $1,668 | -$180 | -9.7% |
| Alaska | $1,416 | -$432 | -23.4% |
| Arizona | $1,536 | -$312 | -16.9% |
| Arkansas | $1,848 | -$0 | 0.0% |
| California | $2,106 | $258 | 14.0% |
| Colorado | $1,764 | -$84 | -4.5% |
| Connecticut | $1,896 | $48 | 2.6% |
| Delaware | $2,090 | $242 | 13.1% |
| Florida | $2,310 | $462 | 25.0% |
| Georgia | $1,704 | -$144 | -7.8% |
| Hawaii | $1,326 | -$522 | -28.2% |
| Idaho | $1,254 | -$594 | -32.1% |
| Illinois | $1,374 | -$474 | -25.6% |
| Indiana | $1,394 | -$454 | -24.6% |
| Iowa | $1,246 | -$602 | -32.6% |
| Kansas | $1,754 | -$94 | -5.1% |
| Kentucky | $2,518 | $670 | 36.3% |
| Louisiana | $2,734 | $886 | 47.9% |
| Maine | $1,142 | -$706 | -38.2% |
| Maryland | $1,526 | -$322 | -17.4% |
| Massachusetts | $1,474 | -$374 | -20.2% |
| Michigan | $3,206 | $1,358 | 73.5% |
| Minnesota | $1,546 | -$302 | -16.3% |
| Mississippi | $2,214 | $366 | 19.8% |
| Missouri | $1,638 | -$210 | -11.4% |
| Montana | $1,984 | $136 | 7.4% |
| Nebraska | $1,456 | -$392 | -21.2% |
| Nevada | $2,216 | $368 | 19.9% |
| New Hampshire | $1,332 | -$516 | -27.9% |
| New Jersey | $2,066 | $218 | 11.8% |
| New Mexico | $1,634 | -$214 | -11.6% |
| New York | $1,946 | $98 | 5.3% |
| North Carolina | $1,064 | -$784 | -42.4% |
| North Dakota | $1,512 | -$336 | -18.2% |
| Ohio | $1,274 | -$574 | -31.1% |
| Oklahoma | $1,896 | $48 | 2.6% |
| Oregon | $1,692 | -$156 | -8.4% |
| Pennsylvania | $1,762 | -$86 | -4.7% |
| Rhode Island | $2,464 | $616 | 33.3% |
| South Carolina | $1,676 | -$172 | -9.3% |
| South Dakota | $1,560 | -$288 | -15.6% |
| Tennessee | $1,616 | -$232 | -12.6% |
| Texas | $2,224 | $376 | 20.3% |
| Utah | $1,366 | -$482 | -26.1% |
| Vermont | $1,264 | -$584 | -31.6% |
| Virginia | $1,106 | -$742 | -40.2% |
| Washington | $1,424 | -$424 | -22.9% |
| West Virginia | $1,694 | -$154 | -8.3% |
| Wisconsin | $1,280 | -$568 | -30.7% |
| Wyoming | $1,644 | -$204 | -11.0% |
Choosing high deductibles could cut rates by as much as $840 each year, whereas increasing liability limits will push rates upward. Switching from a 50/100 limit to a 250/500 limit will cost as much as $378 more per year. View Rates by Deductible or Liability Limit
If you like to drive fast or tend to cause accidents, you are probably paying anywhere from $2,200 to $3,000 extra per year, depending on your age. Insurance for high-risk drivers can be anywhere from 45% to 133% more than average. View High Risk Driver Rates
With so much variability in rates, the only way to figure out who has the best car insurance rates is to do a rate comparison from as many companies as possible. Each insurance company uses a different rate calculation, so the rates can be significantly different from one company to the next.
| 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 Find Affordable Chevrolet Silverado EV Insurance
Saving money on Chevrolet Silverado EV insurance requires being safe and accident-free, maintaining good credit, avoid buying unnecessary coverage, and maximizing policy discounts. Set aside time to compare rates once a year by getting quotes from direct insurance companies like GEICO and Progressive, and also from your local independent and exclusive agents.
Below you'll find a brief review of the data that was covered above.
- It is possible to save around $230 per year simply by quoting online in advance
- Drivers who purchase more liability protection will pay about $460 annually to increase from a minimum limit to 250/500 limits
- Youthful drivers are expensive to insure, costing up to $561 per month for full coverage
- High-risk drivers with DUI or reckless driving convictions may pay on average $2,170 more per year than a low-risk driver
Rate Tables and Charts
Rates by Driver Age
| Driver Age | Premium |
|---|---|
| 16 | $6,736 |
| 20 | $4,306 |
| 30 | $1,942 |
| 40 | $1,848 |
| 50 | $1,686 |
| 60 | $1,656 |
Full coverage, $500 deductibles
Rates by Deductible
| Deductible | Premium |
|---|---|
| $100 | $2,402 |
| $250 | $2,142 |
| $500 | $1,848 |
| $1,000 | $1,564 |
Full coverage, driver age 40
Rates by Liability Limit
| Liability Limit | Premium |
|---|---|
| 30/60 | $1,848 |
| 50/100 | $1,932 |
| 100/300 | $2,037 |
| 250/500 | $2,310 |
| 100 CSL | $1,974 |
| 300 CSL | $2,205 |
| 500 CSL | $2,373 |
Full coverage, driver age 40
Rates for High Risk Drivers
| Age | Premium |
|---|---|
| 16 | $9,670 |
| 20 | $6,852 |
| 30 | $4,130 |
| 40 | $4,022 |
| 50 | $3,836 |
| 60 | $3,808 |
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 | $100 |
| Multi-vehicle | $97 |
| Homeowner | $25 |
| 5-yr Accident Free | $147 |
| 5-yr Claim Free | $121 |
| Paid in Full/EFT | $92 |
| Advance Quote | $97 |
| Online Quote | $133 |
| Total Discounts | $812 |
Discounts are estimated and may not be available from every company or in every state.
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