Chevrolet Silverado EV Insurance Rates
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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:
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.
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.
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
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.
| 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% |
| 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
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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