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 prices for a Chevrolet Silverado EV are $1,804 every 12 months for full coverage insurance. Comprehensive insurance costs around $370 each year, collision costs $804, and liability coverage costs $450. A liability-only policy costs as little as $518 a year, with high-risk insurance costing $3,938 or more. 16-year-old drivers receive the highest rates at $6,674 a year or more.
Average premium for full coverage: $1,804
Rate estimates for individual coverage type:
Includes $500 deductible amounts, 30/60 bodily injury liability limits, and includes both medical and uninsured motorist insurance. Rates are averaged for all 50 states and Silverado EV models.
Price Range by Coverage and Risk
For the average driver, prices range go from the cheapest price of $518 for minimum levels of liability insurance to a high rate of $3,938 for a driver who requires high-risk insurance.
Price Range by Location
Your location has a large influence on car insurance rates. Areas with sparse population tend to have more infrequent physical damage claims than congested cities.
The graphic below illustrates how location impacts auto insurance rates.
These examples illustrate why all drivers should compare rates for a specific zip code and their own driving history, rather than using 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 Details
The chart below illustrates estimated Chevrolet Silverado EV insurance rates for additional coverage choices and driver risks.
- The best full coverage rate is $1,011
- Drivers who choose higher $1,000 deductibles will pay about $266 each year
- The average price for a 40-year-old driver using $500 deductibles is $1,804
- Buying low deductibles for comprehensive and collision insurance costs an extra $522 each year
- High-risk insureds with multiple tickets or accidents could pay at least $3,938 or more
- The cost to insure a teenage driver can be $6,674 a year
Insurance rates for a Chevrolet Silverado EV can also vary considerably based on policy deductibles and limits, your risk profile, and the trim level and model year.
Opting for high physical damage deductibles could save up to $790 a year, whereas increasing liability limits will increase rates. Switching from a 50/100 liability limit to a 250/500 limit will cost as much as $405 more per year. View Rates by Deductible or Liability Limit
More mature drivers with a clean driving record and higher deductibles may only pay around $1,700 per year on average for full coverage. Rates are highest for teen drivers, since even excellent drivers can expect to pay as much as $6,600 a year. View Rates by Age
If you like to drive fast or you were responsible for an accident, you are probably paying at least $2,200 to $2,900 extra per year, depending on your age. Insurance for high-risk drivers can cost around 43% to 136% more than the average rate. View High Risk Driver Rates
Where you live makes a big difference in Chevrolet Silverado EV insurance rates. A 40-year-old driver could pay as low as $1,180 a year in states like Vermont, Wisconsin, and North Carolina, or at least $2,430 on average in Michigan, New York, and Florida.
| 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% |
With so much variability in rates, the only way to figure out your exact price is to do a rate comparison and see how they stack up. Every company utilizes a different rate formula, so the rates can be significantly different.
| 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 Shop for the Cheapest Chevrolet Silverado EV Insurance
Saving money on auto insurance not only requires having a good driving record, but also having good credit, avoid buying unnecessary coverage, and insuring your home and auto with the same company. Spend time shopping around at every other renewal by quoting rates from direct insurance companies like GEICO, Progressive, and Esurance, and also from your local independent and exclusive agents.
The next list is a recap of the concepts that were touched on above.
- Drivers that have major violations or accidents may pay on average $2,130 more every year to buy Chevrolet Silverado EV insurance
- Drivers age 20 and younger pay higher rates, costing up to $556 per month if they have full coverage
- It is possible to save up to $220 per year simply by quoting online in advance
- Increasing deductibles could save as much as $800 each year
- It is possible to save up to $220 per year simply by quoting online in advance
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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