Chevrolet Silverado Insurance Rates

The average insurance rates for a Chevrolet Silverado are $1,424 a year for full coverage. Comprehensive insurance costs on average $260 each year, collision insurance costs $484, and liability costs $500. Liability-only coverage costs as little as $560 a year, and high-risk coverage 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:

Estimates include $500 policy deductibles, split liability limits of 30/60, and includes both medical and uninsured motorist insurance. Prices are averaged for all states and Silverado models.

Price Range Variability

Urban vs. Rural Price Range

Your location can have significant affects on car insurance rates. Rural areas are shown to have a lower frequency of accident claims than densely populated cities. The graphic below illustrates the difference between rural and urban areas on car insurance rates.

The examples above show why all drivers should compare rates based on a specific location and risk profile, instead of using average rates.

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

Additional Rate Details

The chart below shows average Chevrolet Silverado insurance rates for different risk profiles and scenarios.

• The best discount rate is $827
• Drivers who choose higher $1,000 deductibles will pay around $168 a year
• The average rate for a good driver age 40 with $500 deductibles is $1,424
• Using low deductibles for comprehensive and collision insurance will cost an extra $328 every year
• Higher-risk drivers who are prone to accidents and violations could pay upwards of $3,088
• Policy cost for full coverage for a teen driver may cost $5,494 a 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 policy deductibles and limits.

More mature drivers with no violations or accidents and high deductibles may pay as little as $1,300 per year on average, or $108 per month, for full coverage. Rates are much higher for teenagers, where even good drivers should be prepared to pay upwards of $5,400 a year. View Rates by Age

Your home state makes a big difference in Chevrolet Silverado insurance prices. A 40-year-old driver could pay as low as $940 a year in states like Idaho, Maine, and Iowa, or be forced to pay as much as $2,030 on average in Michigan, Louisiana, and New York.

View Chart as Image

Using high physical damage deductibles could save up to $500 every year, whereas increasing liability limits will cost you more. Going from a 50/100 limit to a 250/500 limit will raise rates by up to $398 more each 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 at a minimum $1,700 to $2,400 additional every year, depending on your age. Insurance for high-risk drivers can cost as much as 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 Low Cost Chevrolet Silverado Insurance

Finding cheaper rates on car insurance not only requires avoiding accidents and claims, but also having a good credit history, avoid buying unnecessary coverage, and dropping full coverage on older vehicles. Set aside time to compare rates at least once a year by quoting rates from direct carriers like GEICO, Progressive, and Esurance, and also from your local insurance agents.

The points below are a review of the primary concepts that were covered above.

• Drivers can save as much as $170 per year just by quoting online in advance
• Higher risk drivers who have several accidents or serious violations will pay on average $1,660 more each year to insure a Chevrolet Silverado
• Increasing comprehensive and collision deductibles can save around $500 each year
• Drivers under the age of 20 pay higher rates, costing up to $458 each month including comprehensive and collision insurance