Chevrolet Silverado Insurance Rates

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Jeffrey Johnson graduated summa cum laude from the University of Baltimore School of Law and has worked in legal offices and nonprofits in Maryland, Texas, and North Carolina. He has also earned an MFA in screenwriting from Chapman University and worked in film, education, and publishing. His professional writing has appeared on sites like The Manifest and Vice, and he is the author of a novel ...

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Written by Jeffrey Johnson
Insurance Lawyer Jeffrey Johnson

UPDATED: Apr 18, 2022

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Chevrolet Silverado car insurance rates amount to $1,484 a year, or around $124 a month on average. With a little research, it’s easy to find cheap auto insurance for the Chevy Silverado with numerous Chevrolet Silverado money-saving safety features.

There are a number of factors that ultimately determine Chevy Silverado insurance rates, such as the model year of your pickup. For example, the insurance cost for a 2017 Silverado or 1998 Chevrolet 1500 insurance cost will be more affordable than the newest available model. 

Use this Chevrolet Silverado insurance overview to serve as your main point of reference as you explore car insurance options. Always compare quotes from multiple insurance companies before you buy Chevrolet Silverado auto insurance.

Want to know if you can qualify for affordable Chevrolet Silverado car insurance rates? Once you’re ready, enter your five-digit ZIP code to start comparing Chevrolet Silverado quotes from multiple companies near you.

Average insurance rates for a Chevrolet Silverado are $1,390 a year for full coverage. Comprehensive costs on average $250 a year, collision costs $450, and liability insurance costs $510. A liability-only policy costs as little as $568 a year, with high-risk insurance costing around $3,010. Teen drivers receive the highest rates at $5,390 a year or more.

Average premium for full coverage: $1,390

Rate estimates by individual coverage type:

Comprehensive $250
Collision $450
Liability $510

Rates include $500 deductibles, 30/60 liability limits, and includes uninsured motorist coverage. Rates are averaged for all states and Silverado trim levels.

Price Range by Coverage and Risk

For a middle-aged driver, prices range go from as low as $568 for only liability insurance to a high of $3,010 for a high risk driver.

Liability Only $568
Full Coverage $1,390
High Risk $3,010

Price Range by Location

Your location has a significant impact on car insurance rates. Rural areas tend to have a lower frequency of accident claims than larger metro areas.

The diagram below illustrates the effect of location on car insurance rates.

Rural Areas $1,043
Small Cities $1,460
Large Cities $1,877

These examples show why it is important to compare rates based on a specific location and risk profile, rather than relying 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.

Insurance Rate Analysis

There are a ton of questions to consider when shopping for a new vehicle. If you’re looking to switch from a car to your first truck, be prepared for even more change. How much does it cost to insure a new truck? How much should my truck insurance be? There are a handful of factors that matter here.

Even for a specific brand, there can be a ton of variation. How much does it cost to insure my Chevrolet Silverado? This will depend on the driver, the model and year of the truck, and even your state. You can expect to spend nearly three times as much in a big city than in a suburban area.

How much is insurance on a 2020 Silverado? You’ll see below that you’d only need to pay a few more dollars per month on a new Silverado compared to a 2015 model. Let’s look at how the Chevy Silverado insurance rates can change.

 

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

  • The lowest rate with discounts is $811
  • Drivers who choose higher $1,000 deductibles will pay around $1,230 a year
  • The average rate for a 40-year-old driver with $500 deductibles is $1,390
  • Choosing low $100 deductibles for comprehensive and collision insurance will increase the cost to $1,698
  • High risk drivers with multiple violations and an at-fault accident could pay upwards of $3,010 or more
  • The cost for full coverage for a teen driver may cost $5,390 a year

View Chart as Image

Chevrolet Silverado insurance cost comparison chart
Column chart showing full coverage Chevrolet Silverado insurance rates range from $811 to $5,390

for a Chevrolet Silverado can also vary considerably based on your driver profile, the trim level of your Silverado, and policy deductibles and limits.

Older drivers and high deductibles could pay as little as $1,300 per year on average for full coverage. Rates are highest for teen drivers, where even good drivers upwards of $5,300 a year. View Rates by Age

Where you live makes a big difference in Chevrolet Silverado insurance rates. A 40-year-old driver could pay as low as $920 a year in states like Idaho, Maine, and Iowa, or as much as $1,980 on average in Michigan, Louisiana, and New York.

Chevrolet Silverado Insurance Rates by State
State Premium Compared to U.S. Avg Percent Difference
Alabama $1,254 -$136 -9.8%
Alaska $1,064 -$326 -23.5%
Arizona $1,152 -$238 -17.1%
Arkansas $1,390 -$0 0.0%
California $1,582 $192 13.8%
Colorado $1,324 -$66 -4.7%
Connecticut $1,426 $36 2.6%
Delaware $1,570 $180 12.9%
Florida $1,738 $348 25.0%
Georgia $1,282 -$108 -7.8%
Hawaii $994 -$396 -28.5%
Idaho $940 -$450 -32.4%
Illinois $1,032 -$358 -25.8%
Indiana $1,046 -$344 -24.7%
Iowa $936 -$454 -32.7%
Kansas $1,316 -$74 -5.3%
Kentucky $1,894 $504 36.3%
Louisiana $2,056 $666 47.9%
Maine $858 -$532 -38.3%
Maryland $1,144 -$246 -17.7%
Massachusetts $1,110 -$280 -20.1%
Michigan $2,408 $1,018 73.2%
Minnesota $1,160 -$230 -16.5%
Mississippi $1,662 $272 19.6%
Missouri $1,230 -$160 -11.5%
Montana $1,490 $100 7.2%
Nebraska $1,094 -$296 -21.3%
Nevada $1,664 $274 19.7%
New Hampshire $1,002 -$388 -27.9%
New Jersey $1,552 $162 11.7%
New Mexico $1,228 -$162 -11.7%
New York $1,462 $72 5.2%
North Carolina $800 -$590 -42.4%
North Dakota $1,138 -$252 -18.1%
Ohio $958 -$432 -31.1%
Oklahoma $1,426 $36 2.6%
Oregon $1,272 -$118 -8.5%
Pennsylvania $1,322 -$68 -4.9%
Rhode Island $1,852 $462 33.2%
South Carolina $1,260 -$130 -9.4%
South Dakota $1,172 -$218 -15.7%
Tennessee $1,214 -$176 -12.7%
Texas $1,672 $282 20.3%
Utah $1,026 -$364 -26.2%
Vermont $950 -$440 -31.7%
Virginia $832 -$558 -40.1%
Washington $1,070 -$320 -23.0%
West Virginia $1,272 -$118 -8.5%
Wisconsin $960 -$430 -30.9%
Wyoming $1,236 -$154 -11.1%

View Chart as Image

Chevrolet Silverado insurance rates by U.S. city

Choosing high deductibles could save up to $470 each year, while buying higher liability limits will cost you more. Going from a 50/100 limit to a 250/500 limit will cost as much as $407 . View Rates by Deductible or Liability Limit

If you like to drive fast or tend to cause accidents, you could be paying at a minimum $1,700 to $2,300 per year, depending on your age. A high-risk auto insurance policy can cost anywhere from 43% to 136% more than average. View High Risk Driver Rates

With so much variability in rates, the only way to know exactly what you will pay is to get quotes from as many companies as possible. Every company uses a different rate calculation, can be significantly different from one company to the next.

Insurance Rates by Trim Level and Model Year

Chevrolet Silverado Insurance Rates by Model and Trim Level
Model and Trim Annual Premium Monthly Premium
LS Regular Cab 2WD $1,212 $101
LS Regular Cab 4WD $1,166 $97
LS Extended Cab 4WD $1,262 $105
LT Extended Cab 4WD $1,262 $105
LT Regular Cab 2WD $1,318 $110
LT Regular Cab $1,318 $110
LT Extended Cab 2WD $1,352 $113
LS Extended Cab 2WD $1,352 $113
LS Crew Cab 2WD $1,390 $116
LT Crew Cab 4WD $1,310 $109
LS Crew Cab 4WD $1,310 $109
LT Crew Cab 2WD $1,390 $116
LTZ Extended Cab 2WD $1,424 $119
LTZ Extended Cab 4WD $1,344 $112
LTZ Crew Cab 2WD $1,460 $122
LTZ Crew Cab 4WD $1,380 $115
Crew Cab Hybrid 2WD $1,404 $117
Crew Cab Hybrid 4WD $1,436 $120

Rates assume 2016 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.

Chevrolet Silverado Insurance Rates by Model Year
Model Year Comprehensive Collision Liability Total Premium
2020 Chevrolet Silverado $294 $536 $450 $1,460
2018 Chevrolet Silverado $274 $502 $486 $1,442
2017 Chevrolet Silverado $260 $484 $500 $1,424
2016 Chevrolet Silverado $250 $450 $510 $1,390
2015 Chevrolet Silverado $240 $424 $514 $1,358
2014 Chevrolet Silverado $230 $380 $520 $1,310
2013 Chevrolet Silverado $214 $350 $520 $1,264
2012 Chevrolet Silverado $206 $328 $524 $1,238
2011 Chevrolet Silverado $202 $306 $534 $1,222
2010 Chevrolet Silverado $186 $284 $534 $1,184
2009 Chevrolet Silverado $182 $258 $540 $1,160
2008 Chevrolet Silverado $170 $236 $534 $1,120
2007 Chevrolet Silverado $160 $214 $534 $1,088
2006 Chevrolet Silverado $154 $192 $530 $1,056
2005 Chevrolet Silverado $152 $188 $520 $1,040
2004 Chevrolet Silverado $150 $178 $510 $1,018
2003 Chevrolet Silverado $138 $170 $504 $992
2002 Chevrolet Silverado $132 $162 $500 $974

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 Find Cheaper Chevrolet Silverado Insurance

Saving money on Chevrolet Silverado insurance not only requires being a safe driver, but also maintaining good credit, eliminating unneeded coverage, and bundling your home and auto policies. Take the time to shop around at least every two years by getting price quotes from direct carriers like GEICO and Progressive, and also from your local insurance agents.

Here is a summary of the information that was covered in this article.

  • Increasing deductibles can save around $475 each year
  • Drivers can save as much as $160 per year simply by quoting early and online
  • Drivers who require more liability insurance will pay about $560 each year to go from a minimum limit to 250/500 limits
  • Young drivers pay the highest rates, costing as high as $449 per month for full coverage
  • High-risk drivers that have multiple accidents or serious violations will pay on average $1,620 more each year for insurance

As you can see from the information we’ve gone over to this point, it’s clear that there are differences in costs when it comes to a Chevy Silverado insurance policy. Are pickup trucks more expensive to insure? How much is truck insurance monthly?

Chevy truck quotes will vary just like other cars. For example, 2019 Chevy Silverado insurance costs are higher than 2017 Silverado pickup truck insurance costs.

The best way to find cheap Chevrolet Silverado car insurance quotes is by learning more about the Chevrolet Silverado and comparing rates from multiple insurers.

Don’t forget, there are other truck options to think about too. How does the Chevrolet Silverado compare to other car models? Read on to learn more.

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What are the Chevrolet Silverado safety ratings?

How can I save money on Chevrolet Silverado 1500 insurance? It’s important to consider the Chevy Silverado safety ratings to get a proper understanding of where you might qualify for policy discounts. Safer vehicles qualify for cheaper car insurance rates. 

Take a look at the safety ratings of the Chevrolet Silverado below so you can see where you might be eligible for policy discounts.

  • Small overlap front (driver-side): Good
  • Small overlap front (passenger-side): Marginal
  • Moderate overlap front: Good
  • Side: Good
  • Roof strength: Good
  • Head restraints and seats: Good

For a frame of reference, the Insurance Institute for Highway Safety classifies “Good” as the highest rating possible. The Chevy Silverado achieved that mark in every part of the car that was tested with the exception of the small overlap on the passenger’s side of the vehicle.

Chevrolet Silverado Crash Test Ratings

Take a look at the Chevrolet Silverado crash test ratings below.

Chevrolet Silverado Crash Test Ratings 
Vehicle TestedOverallFrontalSideRollover
2020 Chevrolet Silverado 2500 PU/RC 4WDN/RN/RN/RN/R
2020 Chevrolet Silverado 2500 PU/RC 2WDN/RN/RN/RN/R
2020 Chevrolet Silverado 2500 PU/EC 4WDN/RN/RN/RN/R
2020 Chevrolet Silverado 2500 PU/EC 2WDN/RN/RN/RN/R
2020 Chevrolet Silverado 2500 PU/CC 4WDN/RN/RN/RN/R
2020 Chevrolet Silverado 2500 PU/CC 2WDN/RN/RN/RN/R
2020 Chevrolet Silverado 1500 PU/RC 4WD4 stars4 stars5 stars4 stars
2020 Chevrolet Silverado 1500 PU/RC 2WD4 stars4 stars5 stars4 stars
2020 Chevrolet Silverado 1500 PU/EC 4WD4 stars4 stars5 stars4 stars
2020 Chevrolet Silverado 1500 PU/EC 2WD4 stars4 stars5 stars4 stars
2020 Chevrolet Silverado 1500 PU/CC 4WD4 stars4 stars5 stars4 stars
2020 Chevrolet Silverado 1500 PU/CC 2WD4 stars4 stars5 stars4 stars
2019 Chevrolet Silverado 3500 PU/RC RWDN/RN/RN/RN/R
2019 Chevrolet Silverado 3500 PU/RC 4WDN/RN/RN/RN/R
2019 Chevrolet Silverado 3500 PU/CC RWDN/RN/RN/RN/R
2019 Chevrolet Silverado 3500 PU/CC 4WDN/RN/RN/RN/R
2019 Chevrolet Silverado 2500 PU/RC RWD4 stars3 stars5 stars3 stars
2019 Chevrolet Silverado 2500 PU/RC 4WD4 stars3 stars5 stars3 stars
2019 Chevrolet Silverado 2500 PU/EC RWD4 stars3 stars5 stars3 stars
2019 Chevrolet Silverado 2500 PU/EC 4WD4 stars3 stars5 stars3 stars
2019 Chevrolet Silverado 2500 PU/CC RWD4 stars4 stars5 stars3 stars
2019 Chevrolet Silverado 2500 PU/CC 4WD4 stars4 stars5 stars3 stars
2019 Chevrolet Silverado 1500 PU/RC RWD4 stars4 stars5 stars4 stars
2019 Chevrolet Silverado 1500 PU/RC 4WD4 stars4 stars5 stars4 stars
2019 Chevrolet Silverado 1500 PU/EC RWD4 stars4 stars5 stars4 stars
2019 Chevrolet Silverado 1500 PU/EC 4WD4 stars4 stars5 stars4 stars
2019 Chevrolet Silverado 1500 PU/CC RWD4 stars4 stars5 stars4 stars
2019 Chevrolet Silverado 1500 PU/CC 4WD4 stars4 stars5 stars4 stars
2019 Chevrolet Silverado 1500 LD PU/EC RWD4 stars4 stars5 stars4 stars
2019 Chevrolet Silverado 1500 LD PU/EC 4WD4 stars4 stars5 stars4 stars
2018 Chevrolet Silverado 3500 PU/RC RWDN/RN/RN/RN/R
2018 Chevrolet Silverado 3500 PU/RC 4WDN/RN/RN/RN/R
2018 Chevrolet Silverado 3500 PU/EC RWDN/RN/RN/RN/R
2018 Chevrolet Silverado 3500 PU/EC 4WDN/RN/RN/RN/R
2018 Chevrolet Silverado 3500 PU/CC RWDN/RN/RN/RN/R
2018 Chevrolet Silverado 3500 PU/CC 4WDN/RN/RN/RN/R
2018 Chevrolet Silverado 2500 PU/RC RWD4 stars4 stars5 stars3 stars
2018 Chevrolet Silverado 2500 PU/RC 4WD4 stars4 stars5 stars3 stars
2018 Chevrolet Silverado 2500 PU/EC RWD4 stars4 stars5 stars3 stars
2018 Chevrolet Silverado 2500 PU/EC 4WD4 stars4 stars5 stars3 stars
2018 Chevrolet Silverado 2500 PU/CC RWD4 stars4 stars5 stars3 stars
2018 Chevrolet Silverado 2500 PU/CC 4WD4 stars4 stars5 stars3 stars
2018 Chevrolet Silverado 1500 PU/RC RWD5 stars5 stars5 stars4 stars
2018 Chevrolet Silverado 1500 PU/RC 4WD5 stars5 stars5 stars4 stars
2018 Chevrolet Silverado 1500 PU/EC RWD5 stars5 stars5 stars4 stars
2018 Chevrolet Silverado 1500 PU/EC 4WD5 stars5 stars5 stars4 stars
2018 Chevrolet Silverado 1500 PU/CC RWD5 stars5 stars5 stars4 stars
2018 Chevrolet Silverado 1500 PU/CC 4WD5 stars5 stars5 stars4 stars
2018 Chevrolet Silverado 1500 Hybrid PU/CC RWD5 stars5 stars5 stars4 stars
2017 Chevrolet Silverado 3500 PU/RC RWDN/RN/RN/RN/R
2017 Chevrolet Silverado 3500 PU/RC 4WDN/RN/RN/RN/R
2017 Chevrolet Silverado 3500 PU/EC RWDN/RN/RN/RN/R
2017 Chevrolet Silverado 3500 PU/EC 4WDN/RN/RN/RN/R
2017 Chevrolet Silverado 3500 PU/CC RWDN/RN/RN/RN/R
2017 Chevrolet Silverado 3500 PU/CC 4WDN/RN/RN/RN/R
2017 Chevrolet Silverado 2500 PU/RC RWD4 stars4 stars5 stars3 stars
2017 Chevrolet Silverado 2500 PU/RC 4WD4 stars4 stars5 stars3 stars
2017 Chevrolet Silverado 2500 PU/EC RWD4 stars4 stars5 stars3 stars
2017 Chevrolet Silverado 2500 PU/EC 4WD4 stars4 stars5 stars3 stars
2017 Chevrolet Silverado 2500 PU/CC RWDN/RN/R5 stars3 stars
2017 Chevrolet Silverado 2500 PU/CC 4WDN/RN/R5 stars3 stars
2017 Chevrolet Silverado 1500 PU/RC RWD5 stars5 stars5 stars4 stars
2017 Chevrolet Silverado 1500 PU/RC 4WD5 stars5 stars5 stars4 stars
2017 Chevrolet Silverado 1500 PU/EC RWD5 stars5 stars5 stars4 stars
2017 Chevrolet Silverado 1500 PU/EC 4WD5 stars5 stars5 stars4 stars
1-5 Star Rating Scale, N/R = No Rating | Source: National Highway Traffic Safety Administration
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Better crash test ratings mean cheaper insurance rates. If you’re wondering what truck has the cheapest insurance, it’s usually the one with the best safety ratings.

Chevrolet Silverado Insurance Loss Probability

A good insurance loss probability is a low one. A high insurance loss probability means insurers will charge higher rates.

Chevrolet Silverado Insurance Loss Probability
Insurance Coverage CategoryLoss Rate
Collision-24%
Property Damage18%
Comprehensive-15%
Personal Injury-22%
Medical Payment-31%
Bodily Injury25%
Source: Insurance Institute for Highway Safety
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Most of these insurance loss probabilities are in the negative, which is great. How do safety ratings for the Chevrolet Silverado 1500 compare to similar cars?

When you’re reviewing Chevrolet Silverado 1500 car insurance information, you’ll notice that most of their safety ratings and features are desirable for consumers and insurers.

Chevrolet Silverado Compared Against Other Vehicles in the Same Class

Officially, the Chevrolet Silverado is classified as a large pickup by the Insurance Institute for Highway Safety. Other similar models include the following:

When providing you with a quote, insurance companies will consider the loss percentages of the Chevrolet Silverado as it compares to other similar models in this class. 

The good news is that the Chevy Silverado reflects a property damage liability loss percentage of 13 percent and a bodily injury liability loss percentage of 4 percent. Both of these figures are considered standard for this vehicle class.

Now that we have gone into great detail about how Chevy Silverado insurance rates are calculated, is there anything we might have missed? Are you ready to find a Chevrolet car insurance company near you?

Start comparing Chevrolet Silverado quotes from multiple companies through the use of our free online tool.

References: 

  1. https://www.iihs.org/ratings/vehicle/Chevrolet/silverado-1500-crew-cab-pickup/2020
  2. https://www.nhtsa.gov/ratings

Rates by Driver Age

Chevrolet Silverado Insurance Rates by Driver Age
Driver Age Premium
16 $5,390
20 $3,212
30 $1,432
40 $1,390
50 $1,274
60 $1,248

Full coverage, $500 deductibles

Rates by Deductible

Chevrolet Silverado Insurance Rates with Different Deductibles
Deductible Premium
$100 $1,698
$250 $1,554
$500 $1,390
$1,000 $1,230

Full coverage, driver age 40

Rates by Liability Limit

Chevrolet Silverado Insurance Rates with Different Liability Limits
Liability Limit Premium
30/60 $1,390
50/100 $1,526
100/300 $1,639
250/500 $1,933
100 CSL $1,572
300 CSL $1,820
500 CSL $2,001

Full coverage, driver age 40

Rates for High Risk Drivers

Chevrolet Silverado Insurance Rates for High Risk Drivers
Age Premium
16 $7,654
20 $5,118
30 $3,058
40 $3,010
50 $2,878
60 $2,852

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.

SR-22 Surcharge $194

Potential Rate Discounts

If you qualify for discounts, you may save the amounts shown below.

Discount Savings
Multi-policy $73
Multi-vehicle $75
Homeowner $22
5-yr Accident Free $97
5-yr Claim Free $89
Paid in Full/EFT $59
Advance Quote $67
Online Quote $97
Total Discounts $579
Rate after discounts $811

Discounts are estimated and may not be available from every company or in every state.

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