Chevrolet Silverado Insurance Rates
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Michelle Robbins
Licensed Insurance Agent
Michelle Robbins has been a licensed insurance agent for over 13 years. Her career began in the real estate industry, supporting local realtors with Title Insurance. After several years, Michelle shifted to real estate home warranty insurance, where she managed a territory of over 100 miles of real estate professionals. Later, Agent Robbins obtained more licensing and experience serving families a...
Licensed Insurance Agent
UPDATED: Apr 29, 2024
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Estimated insurance prices for a Chevrolet Silverado are $1,424 every 12 months for full coverage insurance. Comprehensive costs approximately $260, collision costs $484, and liability is $500. Liability-only coverage costs around $560 a year, with high-risk coverage costing around $3,088. Teen drivers pay the most at $5,494 a year or more.
Average premium for full coverage: $1,424
Premium estimates by type of coverage:
Prices are based on $500 deductible amounts, 30/60 liability limits, and includes uninsured motorist and medical coverage. Rates include averaging for all 50 states and for different Silverado trim levels.
Insurance Price Range by Risk and Coverage
Using a 40-year-old driver as an example, insurance rates for a Chevrolet Silverado go from the cheapest price of $560 for the bare minimum liability coverage to a much higher rate of $3,088 for a driver required to buy high-risk insurance.
Insurance Price Range by Location
Choosing to live in a large city can make a big difference on the price of auto insurance. Rural locations are statistically proven to have more infrequent physical damage claims than larger metro areas.
The price range example below illustrates how rural and urban location affects auto insurance prices.
These rate differences illustrate why anyone shopping for car insurance should compare rates quotes using their specific location and their own driving history, 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.
Additional Rate Information
The chart below illustrates estimated Chevrolet Silverado insurance rates for additional coverage and risk scenarios.
- The lowest rate with discounts is $827
- Raising to $1,000 deductibles will save $168 each year
- The average price for a 40-year-old good driver who chooses $500 deductibles is $1,424
- Choosing more expensive low deductibles increases the price to $1,752
- Drivers with multiple violations and an at-fault accident could pay around $3,088 or more
- An auto insurance policy to insure a 16-year-old driver with full coverage can cost $5,494
Insurance prices for a Chevrolet Silverado also have a wide range based on physical damage deductibles and liability limits, your risk profile, and the model of your Silverado.
Choosing high deductibles can reduce prices by up to $500 annually, while increasing your policy's liability limits will push prices upward. Switching from a 50/100 liability limit to a 250/500 limit will cost up to $398 more per year. View Rates by Deductible or Liability Limit
An older driver with a clean driving record and higher deductibles may pay as low as $1,300 every 12 months on average, or $108 per month, for full coverage. Prices are highest for drivers in their teens, since even excellent drivers can expect to pay in the ballpark of $5,400 a year. View Rates by Age
If you have a few violations or you were responsible for an accident, you are probably paying anywhere from $1,700 to $2,400 extra annually, depending on your age. High-risk driver insurance is expensive and can cost from 44% to 133% more than average. View High Risk Driver Rates
Where you choose to live also has a big influence on Chevrolet Silverado insurance prices. A middle-age driver might find prices as low as $930 a year in states like North Carolina, Wisconsin, and Vermont, or as much as $1,920 on average in Florida, New York, and Michigan.
| State | Premium | Compared to U.S. Avg | Percent Difference |
|---|---|---|---|
| Alabama | $1,286 | -$138 | -9.7% |
| Alaska | $1,092 | -$332 | -23.3% |
| Arizona | $1,182 | -$242 | -17.0% |
| Arkansas | $1,424 | -$0 | 0.0% |
| California | $1,622 | $198 | 13.9% |
| Colorado | $1,358 | -$66 | -4.6% |
| Connecticut | $1,462 | $38 | 2.7% |
| Delaware | $1,612 | $188 | 13.2% |
| Florida | $1,780 | $356 | 25.0% |
| Georgia | $1,316 | -$108 | -7.6% |
| Hawaii | $1,020 | -$404 | -28.4% |
| Idaho | $964 | -$460 | -32.3% |
| Illinois | $1,058 | -$366 | -25.7% |
| Indiana | $1,074 | -$350 | -24.6% |
| Iowa | $962 | -$462 | -32.4% |
| Kansas | $1,350 | -$74 | -5.2% |
| Kentucky | $1,940 | $516 | 36.2% |
| Louisiana | $2,108 | $684 | 48.0% |
| Maine | $878 | -$546 | -38.3% |
| Maryland | $1,174 | -$250 | -17.6% |
| Massachusetts | $1,138 | -$286 | -20.1% |
| Michigan | $2,470 | $1,046 | 73.5% |
| Minnesota | $1,192 | -$232 | -16.3% |
| Mississippi | $1,704 | $280 | 19.7% |
| Missouri | $1,262 | -$162 | -11.4% |
| Montana | $1,528 | $104 | 7.3% |
| Nebraska | $1,122 | -$302 | -21.2% |
| Nevada | $1,706 | $282 | 19.8% |
| New Hampshire | $1,026 | -$398 | -27.9% |
| New Jersey | $1,592 | $168 | 11.8% |
| New Mexico | $1,258 | -$166 | -11.7% |
| New York | $1,498 | $74 | 5.2% |
| North Carolina | $820 | -$604 | -42.4% |
| North Dakota | $1,166 | -$258 | -18.1% |
| Ohio | $980 | -$444 | -31.2% |
| Oklahoma | $1,458 | $34 | 2.4% |
| Oregon | $1,304 | -$120 | -8.4% |
| Pennsylvania | $1,356 | -$68 | -4.8% |
| Rhode Island | $1,898 | $474 | 33.3% |
| South Carolina | $1,288 | -$136 | -9.6% |
| South Dakota | $1,200 | -$224 | -15.7% |
| Tennessee | $1,244 | -$180 | -12.6% |
| Texas | $1,714 | $290 | 20.4% |
| Utah | $1,052 | -$372 | -26.1% |
| Vermont | $974 | -$450 | -31.6% |
| Virginia | $852 | -$572 | -40.2% |
| Washington | $1,098 | -$326 | -22.9% |
| West Virginia | $1,304 | -$120 | -8.4% |
| Wisconsin | $986 | -$438 | -30.8% |
| Wyoming | $1,268 | -$156 | -11.0% |
With such a large range in prices, the only way to figure out who has the best car insurance prices is to compare prices from multiple companies. Every auto insurance company uses a different rate calculation, so the prices will be substantially different.
Insurance Rates by Trim Level and Model Year
| Model and Trim | Annual Premium | Monthly Premium |
|---|---|---|
| LS Regular Cab 2WD | $1,234 | $103 |
| LS Regular Cab 4WD | $1,194 | $100 |
| LT Regular Cab 2WD | $1,348 | $112 |
| LT Regular Cab | $1,348 | $112 |
| LS Extended Cab 4WD | $1,296 | $108 |
| LT Extended Cab 4WD | $1,296 | $108 |
| LS Extended Cab 2WD | $1,386 | $116 |
| LT Extended Cab 2WD | $1,386 | $116 |
| LS Crew Cab 2WD | $1,424 | $119 |
| LT Crew Cab 2WD | $1,424 | $119 |
| LS Crew Cab 4WD | $1,344 | $112 |
| LT Crew Cab 4WD | $1,344 | $112 |
| LTZ Extended Cab 2WD | $1,462 | $122 |
| LTZ Extended Cab 4WD | $1,382 | $115 |
| LTZ Crew Cab 2WD | $1,500 | $125 |
| LTZ Crew Cab 4WD | $1,420 | $118 |
| Crew Cab Hybrid 2WD | $1,446 | $121 |
| Crew Cab Hybrid 4WD | $1,478 | $123 |
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.
| Model Year | Comprehensive | Collision | Liability | Total Premium |
|---|---|---|---|---|
| 2024 Chevrolet Silverado | $294 | $536 | $450 | $1,460 |
| 2023 Chevrolet Silverado | $284 | $524 | $470 | $1,458 |
| 2022 Chevrolet Silverado | $274 | $502 | $486 | $1,442 |
| 2021 Chevrolet Silverado | $260 | $484 | $500 | $1,424 |
| 2019 Chevrolet Silverado | $240 | $424 | $514 | $1,358 |
Rates are averaged for all Chevrolet Silverado models and trim levels. Rates assume a 40-year-old male driver, full coverage with $500 deductibles, and a clean driving record.
How to Shop for Affordable Chevrolet Silverado Insurance
Finding better rates on insurance for a Chevrolet Silverado consists of having a good driving record, having good credit, paying for small claims out-of-pocket, and maximizing policy discounts. Set aside time to shop around at every policy renewal by obtaining price quotes from direct insurance companies, and also from local insurance agencies.
The next list is a brief review of the data raised in the charts and tables above.
- Insureds who purchase increased levels of liability coverage will pay about $550 annually to raise from 30/60 bodily injury limits to a 250/500 level
- It is possible to save around $170 per year simply by shopping early and online
- Increasing policy deductibles could save as much as $500 each year
- Drivers age 20 and younger are expensive to insure, with premiums being up to $458 per month if they have full coverage
Rate Tables and Charts
Rates by Driver Age
| Driver Age | Premium |
|---|---|
| 16 | $5,494 |
| 20 | $3,298 |
| 30 | $1,470 |
| 40 | $1,424 |
| 50 | $1,304 |
| 60 | $1,278 |
Full coverage, $500 deductibles
Rates by Deductible
| Deductible | Premium |
|---|---|
| $100 | $1,752 |
| $250 | $1,598 |
| $500 | $1,424 |
| $1,000 | $1,256 |
Full coverage, driver age 40
Rates by Liability Limit
| Liability Limit | Premium |
|---|---|
| 30/60 | $1,424 |
| 50/100 | $1,566 |
| 100/300 | $1,677 |
| 250/500 | $1,964 |
| 100 CSL | $1,611 |
| 300 CSL | $1,854 |
| 500 CSL | $2,031 |
Full coverage, driver age 40
Rates for High Risk Drivers
| Age | Premium |
|---|---|
| 16 | $7,812 |
| 20 | $5,258 |
| 30 | $3,144 |
| 40 | $3,088 |
| 50 | $2,952 |
| 60 | $2,926 |
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 | $75 |
| Multi-vehicle | $76 |
| Homeowner | $22 |
| 5-yr Accident Free | $101 |
| 5-yr Claim Free | $92 |
| Paid in Full/EFT | $62 |
| Advance Quote | $69 |
| Online Quote | $100 |
| Total Discounts | $597 |
Discounts are estimated and may not be available from every company or in every state.
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