Chevrolet Silverado Insurance Rates

The average insurance rates for a Chevrolet Silverado are $1,424 a year for full coverage insurance. Comprehensive insurance costs approximately $260, 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, 30/60 split liability limits, and includes both medical and uninsured motorist insurance. Prices are averaged for all 50 states and for different Silverado trim levels.

Price Range Variability

Urban vs. Rural Price Range

Your location can have significant affects on the price of auto insurance. Rural locations are shown to have lower incidents of physical damage claims than densely populated cities. The price range example below illustrates the difference between rural and urban areas on auto insurance prices.

The examples above illustrate why anyone shopping for car insurance should compare rates using their specific location, instead of using average rates.

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

Additional Rate Details

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

• The best discount rate is $827
• Drivers who choose higher $1,000 deductibles will pay $168 each year
• The estimated price for a good driver age 40 who chooses $500 deductibles is $1,424
• Using more expensive low deductibles for comprehensive and collision insurance will cost an additional $328 every year
• Higher-risk drivers who are prone to accidents and violations could pay around $3,088
• Policy cost that insures a teen driver with full coverage can cost $5,494 a year

View Chart as Image

Insurance rates for a Chevrolet Silverado also range considerably based on the model year and trim level, your age and driving record, and physical damage deductibles and liability limits.

If you have a few points on your driving record or you caused an accident, you are probably paying anywhere from $1,700 to $2,400 additional every year, depending on your age. High-risk driver insurance can cost as much as 44% to 133% more than a normal policy. View High Risk Driver Rates

An older driver with no violations or accidents and higher comprehensive and collision 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, since even teens with perfect driving records should be prepared to pay in the ballpark 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 $930 a year in states like North Carolina, Wisconsin, and Vermont, or be forced to pay as much as $1,920 on average in Florida, New York, and Michigan.

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Using high physical damage deductibles could save up to $500 every year, while increasing your policy's liability limits will push rates upward. Switching from a 50/100 bodily injury protection limit to a 250/500 limit will raise rates by up to $398 more each year. View Rates by Deductible or Liability Limit

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 being a good driver, but also having a good credit score, being claim-free, and consideration of higher deductibles. Compare prices at least every other year by requesting quotes from direct insurance companies, and also from your local car insurance providers.

The following list is a review of the car insurance concepts covered above.

• Higher risk drivers who have several accidents or serious violations could be charged and average of $1,660 more per year than a safer driver
• It is possible to save around $170 per year just by shopping early and online
• Increasing comprehensive and collision deductibles can save approximately $500 each year
• Policyholders who purchase an increased level of liability coverage will pay an extra $550 annually to go from a 30/60 limit to the 250/500 level