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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U.S. average insurance rates for a Chevrolet Silverado EV are $1,804 a year with full coverage. Comprehensive costs on average $370, collision costs $804, and liability is $450. Liability-only insurance costs around $518 a year, with high-risk driver insurance costing around $3,938. 16-year-old drivers pay the highest rates at $6,674 a year or more.
Average premium for full coverage: $1,804
Price estimates by individual coverage:
These estimates include $500 deductibles, 30/60 split liability limits, and includes uninsured motorist and medical coverage. Estimates are averaged for all U.S. states and for all Silverado EV models.
Price Range from Low to High
For a driver around age 40, Chevrolet Silverado EV insurance prices go from as low as $518 for the bare minimum liability coverage to the much higher price of $3,938 for a high-risk insurance policy.
Geographic Price Range
Choosing to live in a large city can make a big difference on auto insurance rates. Rural areas have a lower frequency of collision claims than congested cities.
The example below illustrates the difference between rural and urban areas on car insurance rates.
The ranges above demonstrate why everyone should compare rates quotes based on a specific location and risk profile, instead of making a decision based on rate 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.
Additional Rate Information
The chart below details estimated Chevrolet Silverado EV insurance rates for different risk profiles and scenarios.
- The best full coverage rate is $1,011
- Raising to $1,000 deductibles will save around $266 annually
- The average rate for the average middle-age driver with $500 deductibles is $1,804
- Buying pricier low deductibles will increase the cost to $2,326
- Drivers with multiple tickets or accidents could pay upwards of $3,938 or more
- The price for full coverage for a 16-year-old driver for full coverage may cost $6,674
Car insurance prices for a Chevrolet Silverado EV are also quite variable based on your driving record, the trim level and model year, and policy deductibles and limits.
A more mature driver with no driving violations and high deductibles may pay as low as $1,700 every 12 months on average for full coverage. Prices are highest for teenage drivers, where even good drivers will be charged upwards of $6,600 a year. View Rates by Age
The state you live in also has a big influence on Chevrolet Silverado EV insurance prices. A middle-age driver might find prices as low as $1,300 a year in states like New Hampshire, Ohio, and Utah, or at least $2,430 on average in Florida, Michigan, 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% |
Opting for high physical damage deductibles can reduce prices by up to $790 annually, whereas buying more liability protection will cost you more. Moving from a 50/100 limit to a 250/500 limit will increase prices by as much as $405 extra every 12 months. View Rates by Deductible or Liability Limit
If you have some driving violations or tend to cause accidents, you may be forking out at a minimum $2,200 to $2,900 extra each year, depending on your age. Chevrolet Silverado EV insurance for high-risk drivers is expensive and can cost from 43% to 136% more than the average rate. View High Risk Driver Rates
Since prices can be so different, the best way to find out exactly what you will pay is to regularly compare prices from multiple companies. Every auto insurance company utilizes a different rate formula, so rate quotes may be quite different from one company to the next.
| 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 Cheap Chevrolet Silverado EV Insurance
Getting lower rates on insurance for a Chevrolet Silverado EV consists of not taking risks behind the wheel, having above-average credit, avoid buying unnecessary coverage, and maximizing policy discounts. Set aside time to compare rates at least every other year by requesting quotes from direct companies like Progressive and GEICO, and also from local insurance agents.
The following is a brief summary of the car insurance concepts covered above.
- Drivers considered higher risk that tend to have accidents or serious violations may be required to pay an average of $2,130 more each year for Silverado EV insurance
- You may be able to save as much as $220 per year simply by quoting online well ahead of the renewal date
- Increasing physical damage deductibles can save around $800 each year
- Insureds who require higher liability limits will pay around $500 every year to raise from a low 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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