Chevrolet Silverado Insurance Rates

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

Average premium for full coverage: $1,424

Policy rates broken down by type of insurance:

These estimates include $500 comprehensive and collision deductibles, liability coverage up to 30/60, and includes both medical and UM/UIM coverage. Prices are averaged for all states and for different Silverado trim levels.

Price Range Variability

Urban vs. Rural Price Range

Living in a larger city can have significant affects on insurance rates. More rural locations are shown to have lower incidents of accident claims than densely populated cities. The price range example below illustrates how your location can change insurance prices.

The examples above show why anyone shopping for car insurance should get quotes for a targeted area, instead of using average rates.

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

Rate Comparisons

The chart below shows average Chevrolet Silverado insurance rates for other coverage scenarios.

• The best discount rate is $827
• Choosing higher $1,000 deductibles can save approximately $168 a year
• The estimated price for a good driver age 40 who has $500 deductibles is $1,424
• Using more expensive low deductibles for comp and collision coverage bumps up the cost to $1,752
• Unlucky drivers who are prone to accidents and violations could pay up to $3,088
• Policy cost that insures a teen driver with full coverage can cost as much as $5,494 each year

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Insurance rates for a Chevrolet Silverado also range considerably based on the model year and trim level, how you drive, and liability limits and deductibles.

If you have a few points on your driving record or you caused an accident, you could be paying $1,700 to $2,400 additional every year, depending on your age. High-risk driver insurance ranges 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 annually 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 at least $5,400 a year. View Rates by Age

Your home state plays a big part in determining prices for Chevrolet Silverado insurance prices. 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.

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Using high physical damage deductibles can save as much as $500 every year, while increasing your policy's liability limits will increase premiums. Going 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 Cheap Chevrolet Silverado Insurance

Finding cheaper rates on car insurance takes having a decent driving record, having a good credit score, avoid buying unnecessary coverage, and possibly raising deductibles. Compare prices every time your policy renews by obtaining price quotes from direct carriers, and also from your local independent and exclusive agents.

The following items are a brief summary of the information illustrated above.

• Drivers can save approximately $170 per year just by shopping early and online
• 16 to 18-year-old drivers are expensive to insure, costing up to $458 each month if comprehensive and collision insurance is included
• Increasing comprehensive and collision deductibles can save approximately $500 each year
• Higher risk drivers that tend to have accidents or serious violations may pay on average $1,660 more annually than a driver with a clean driving record
• Policyholders who want additional liability coverage will pay an extra $550 each year to raise limits from a 30/60 limit to the 250/500 level