Chevrolet Silverado EV 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: Mar 28, 2024
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Average insurance rates for a Chevrolet Silverado EV are $1,804 a year for full coverage. Comprehensive costs around $370 a year, collision insurance costs $804, and liability insurance costs $450. A policy with just liability insurance costs as little as $518 a year, and coverage for high-risk drivers costs around $3,938. Teenage drivers receive the highest rates at up to $6,674 a year.
Average premium for full coverage: $1,804
Rate estimates for individual coverage type:
Rates are based on $500 deductibles, 30/60 split liability limits, and includes both medical and uninsured motorist insurance. Rates are averaged for all states and Silverado EV trim levels.
Price Range by Coverage and Risk
For a 40-year-old driver, prices range range from as low as $518 for minimum levels of liability insurance to a high of $3,938 for a high-risk insurance policy.
Price Range by Location
Your location has a significant impact on auto insurance rates. Areas with sparse population tend to have a lower frequency of accident claims than densely populated cities. The diagram below illustrates how your location can change auto insurance rates.
These examples show why it is important to compare rates for a specific zip code and risk profile, rather than relying on average rates.
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 Details
The chart below shows average Chevrolet Silverado EV insurance rates for additional coverage choices and driver risks.
- The best discount rate is $1,011
- Drivers who choose higher $1,000 deductibles will pay about $1,538 a year
- The average rate for a 40-year-old driver using $500 deductibles is $1,804
- Using low $100 deductibles for comprehensive and collision insurance will increase the cost to $2,326
- High risk drivers who are prone to accidents and violations could pay at least $3,938
- The cost for full coverage for a teen driver can be $6,674 a year
Insurance rates for a Chevrolet Silverado EV can also vary considerably based on your driver profile, the trim level of your Silverado EV, and deductibles and policy limits.
Older drivers with no violations or accidents and high deductibles could pay as little as $1,700 per year on average for full coverage. Rates are much higher for teen drivers, where even good drivers should be prepared to pay as much as $6,600 a year. View Rates by Age
Where you live makes a big difference in Chevrolet Silverado EV insurance rates. A 40-year-old driver could pay as low as $1,190 a year in states like Idaho, Maine, and Iowa, or be forced to pay as much as $2,570 on average in Michigan, Louisiana, and New York.
| State | Premium | Compared to U.S. Avg | Percent Difference |
|---|---|---|---|
| Alabama | $1,630 | -$174 | -9.6% |
| Alaska | $1,384 | -$420 | -23.3% |
| Arizona | $1,498 | -$306 | -17.0% |
| Arkansas | $1,804 | -$0 | 0.0% |
| California | $2,054 | $250 | 13.9% |
| Colorado | $1,720 | -$84 | -4.7% |
| Connecticut | $1,852 | $48 | 2.7% |
| Delaware | $2,042 | $238 | 13.2% |
| Florida | $2,254 | $450 | 24.9% |
| Georgia | $1,666 | -$138 | -7.6% |
| Hawaii | $1,296 | -$508 | -28.2% |
| Idaho | $1,222 | -$582 | -32.3% |
| Illinois | $1,344 | -$460 | -25.5% |
| Indiana | $1,360 | -$444 | -24.6% |
| Iowa | $1,218 | -$586 | -32.5% |
| Kansas | $1,712 | -$92 | -5.1% |
| Kentucky | $2,458 | $654 | 36.3% |
| Louisiana | $2,668 | $864 | 47.9% |
| Maine | $1,114 | -$690 | -38.2% |
| Maryland | $1,488 | -$316 | -17.5% |
| Massachusetts | $1,440 | -$364 | -20.2% |
| Michigan | $3,130 | $1,326 | 73.5% |
| Minnesota | $1,512 | -$292 | -16.2% |
| Mississippi | $2,162 | $358 | 19.8% |
| Missouri | $1,600 | -$204 | -11.3% |
| Montana | $1,936 | $132 | 7.3% |
| Nebraska | $1,420 | -$384 | -21.3% |
| Nevada | $2,162 | $358 | 19.8% |
| New Hampshire | $1,300 | -$504 | -27.9% |
| New Jersey | $2,016 | $212 | 11.8% |
| New Mexico | $1,596 | -$208 | -11.5% |
| New York | $1,898 | $94 | 5.2% |
| North Carolina | $1,038 | -$766 | -42.5% |
| North Dakota | $1,476 | -$328 | -18.2% |
| Ohio | $1,242 | -$562 | -31.2% |
| Oklahoma | $1,850 | $46 | 2.5% |
| Oregon | $1,650 | -$154 | -8.5% |
| Pennsylvania | $1,718 | -$86 | -4.8% |
| Rhode Island | $2,404 | $600 | 33.3% |
| South Carolina | $1,634 | -$170 | -9.4% |
| South Dakota | $1,522 | -$282 | -15.6% |
| Tennessee | $1,578 | -$226 | -12.5% |
| Texas | $2,170 | $366 | 20.3% |
| Utah | $1,334 | -$470 | -26.1% |
| Vermont | $1,234 | -$570 | -31.6% |
| Virginia | $1,080 | -$724 | -40.1% |
| Washington | $1,392 | -$412 | -22.8% |
| West Virginia | $1,654 | -$150 | -8.3% |
| Wisconsin | $1,248 | -$556 | -30.8% |
| Wyoming | $1,606 | -$198 | -11.0% |
Using high physical damage deductibles could save up to $790 each year, while buying higher liability limits will increase rates. Going from a 50/100 limit to a 250/500 limit will cost as much as $405 more each year. View Rates by Deductible or Liability Limit
If you like to drive fast or tend to cause accidents, you could be paying at least $2,200 to $2,900 additional per year, depending on your age. A high-risk auto insurance policy can cost anywhere from 43% to 136% more than a normal policy. View High Risk Driver Rates
| Model Year | Comprehensive | Collision | Liability | Total Premium |
|---|---|---|---|---|
| 2024 Chevrolet Silverado EV | $370 | $804 | $450 | $1,804 |
| 2023 Chevrolet Silverado EV | $356 | $784 | $470 | $1,790 |
Rates are averaged for all Chevrolet Silverado EV 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 the Best Cheap Chevrolet Silverado EV Insurance
Saving money on Chevrolet Silverado EV insurance not only requires not taking risks behind the wheel, but also having a good credit history, eliminating unneeded coverage, and deciding if full coverage is necessary. Invest the time to shop around at least every other year by quoting rates from direct carriers like GEICO and Progressive, and also from local insurance agents.
The following is a quick review of the car insurance concepts illustrated above.
- High-risk drivers with a DUI or reckless driving violation may be required to pay an average of $2,130 more every year for Silverado EV insurance
- Drivers can save up to $220 per year just by quoting early and online
- Increasing deductibles can save around $800 each year
- Drivers who may need higher liability limits will pay an extra $500 each year to go from a minimum limit to 250/500 limits
Rate Tables and Charts
Rates by Driver Age
| Driver Age | Premium |
|---|---|
| 16 | $6,674 |
| 20 | $4,222 |
| 30 | $1,892 |
| 40 | $1,804 |
| 50 | $1,646 |
| 60 | $1,618 |
Full coverage, $500 deductibles
Rates by Deductible
| Deductible | Premium |
|---|---|
| $100 | $2,326 |
| $250 | $2,082 |
| $500 | $1,804 |
| $1,000 | $1,538 |
Full coverage, driver age 40
Rates by Liability Limit
| Liability Limit | Premium |
|---|---|
| 30/60 | $1,804 |
| 50/100 | $1,894 |
| 100/300 | $2,007 |
| 250/500 | $2,299 |
| 100 CSL | $1,939 |
| 300 CSL | $2,187 |
| 500 CSL | $2,367 |
Full coverage, driver age 40
Rates for High Risk Drivers
| Age | Premium |
|---|---|
| 16 | $9,568 |
| 20 | $6,724 |
| 30 | $4,040 |
| 40 | $3,938 |
| 50 | $3,760 |
| 60 | $3,730 |
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 | $97 |
| Multi-vehicle | $96 |
| Homeowner | $25 |
| 5-yr Accident Free | $143 |
| 5-yr Claim Free | $119 |
| Paid in Full/EFT | $89 |
| Advance Quote | $94 |
| Online Quote | $130 |
| Total Discounts | $793 |
Discounts are estimated and may not be available from every company or in every state.
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