Chevrolet Silverado Insurance Rates

The average insurance rates for a Chevrolet Silverado are $1,424 a year for full coverage. Comprehensive insurance costs approximately $260 a year, collision insurance costs $484, and liability insurance is estimated at $500. Buying just liability costs approximately $560 a year, and insurance for high-risk drivers costs $3,088 or more. Teenage drivers cost the most to insure at up to $5,494 a year.

Average premium for full coverage: $1,424

Policy rates by type of insurance:

Prices are based on $500 comprehensive and collision deductibles, 30/60 split liability limits, and includes additional medical/uninsured motorist coverage. Prices are averaged for all states and Silverado trim levels.

Price Range Variability

Urban vs. Rural Price Range

Living in a larger city has a significant impact on car insurance rates. Rural locations are shown to have a lower frequency of accident claims than densely populated cities. The diagram below illustrates how rural and urban location affects auto insurance prices.

The examples above show why it is important to get quotes using their specific location and risk profile, rather than relying on average rates.

Use the form below to get customized rates for your location.

Additional Rate Analysis

The chart below shows average Chevrolet Silverado insurance rates for additional coverage and risk scenarios.

• The best discount rate is $827
• Choosing higher $1,000 deductibles can save $1,256 a year
• The average rate for a good driver age 40 who chooses $500 deductibles is $1,424
• Using low $100 deductibles for comp and collision coverage will cost an extra $328 a year
• High-risk insureds who are prone to accidents and violations could pay around $3,088
• Policy cost for full coverage for a teen driver can cost $5,494 each year

View Chart as Image

Insurance rates for a Chevrolet Silverado also range considerably based on your risk profile, the trim level of your Silverado, and physical damage deductibles and liability limits.

Older drivers with a clean driving record and high deductibles could pay as little as $1,300 annually on average, or $108 per month, for full coverage. Rates are much higher for teenagers, where even good drivers can expect to pay in the ballpark of $5,400 a year. View Rates by Age

Your home state plays a big part in determining prices for Chevrolet Silverado insurance rates. A good driver about age 40 could pay as low as $940 a year in states like Iowa, Maine, and Idaho, or be forced to pay as much as $2,030 on average in New York, Louisiana, and Michigan.

View Chart as Image

Using high physical damage deductibles can save as much as $500 each year, while buying higher liability limits will push rates upward. Going from a 50/100 limit to a 250/500 limit will raise rates by up to $398 more per year. View Rates by Deductible or Liability Limit

If you have a few points on your driving record or tend to cause accidents, you could be paying anywhere from $1,700 to $2,400 extra every year, depending on your age. A high-risk auto insurance policy ranges anywhere from 44% to 133% more than a normal policy. View High Risk Driver Rates

Insurance Rates by Trim Level and Model Year

Rates assume 2021 model year, a 40-year-old male driver with no accidents or violations, $500 comprehensive and collision deductibles, minimum liability limits, and uninsured/under-insured motorist coverage included. Rates are for comparison only and are averaged for all 50 U.S. states.

How to Find Affordable Chevrolet Silverado Insurance

Finding cheaper rates on Chevrolet Silverado insurance takes avoiding accidents and violations, maintaining good credit, avoid buying unnecessary coverage, and possibly raising deductibles. Set aside time to shop around at least every other year by requesting rates from direct carriers like GEICO, Progressive, and Esurance, and also from local exclusive and independent agents.

The list below is a brief review of the car insurance concepts raised in the charts and tables above.

• High-risk drivers with DUI or reckless driving convictions may pay on average $1,660 more per year for car insurance
• Drivers can save around $170 per year just by quoting early and online
• Increasing comprehensive and collision deductibles can save around $500 each year
• Drivers who purchase higher liability limits will pay an extra $550 each year to raise limits from a 30/60 limit to 250/500 limits