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 auto insurance rates for a Chevrolet Silverado EV are $1,804 annually for full coverage insurance. Comprehensive insurance costs on average $370 each year, collision insurance costs $804, and liability costs $450. Buying just liability costs as little as $518 a year, and insurance for high-risk drivers costs $3,938 or more. 16-year-old drivers receive the highest rates at up to $6,674 a year.
Average premium for full coverage: $1,804
Rate estimates by individual coverage type:
Price estimates include $500 policy deductibles, minimum liability limits, and includes medical and UM/UIM coverage. Rates are averaged for all 50 states and Silverado EV models.
Price Range by Coverage and Risk
Using a middle-aged driver as an example, prices range range from as cheap as $518 for just liability insurance to a high rate of $3,938 for high-risk insurance.
Price Range by Location
Your location can have significant affects on insurance rates. Rural areas tend to have fewer physical damage claims than congested cities. The graphic below illustrates how where you live affects car insurance rates.
These examples illustrate why all drivers should compare rates based on a specific location and their own personal driving habits, instead of 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.
More Rate Details
The chart below illustrates average Chevrolet Silverado EV insurance rates for different risk profiles and scenarios.
- The best full coverage rate is $1,011
- Drivers who choose higher $1,000 deductibles will pay around $266 each year
- The estimated rate for a 40-year-old driver with $500 deductibles is $1,804
- Buying low deductibles for comprehensive and collision insurance costs an additional $522 every year
- Higher-risk drivers with multiple tickets or accidents could pay upwards of $3,938
- The cost with full coverage for a teen driver may cost $6,674 a year
Auto insurance rates for a Chevrolet Silverado EV can also vary considerably based on the trim level of your Silverado EV, your risk profile, and policy deductibles and limits.
More mature drivers with a good driving record and high physical damage deductibles may pay as little as $1,700 per year on average for full coverage. Rates are highest for teen drivers, where even without any violations or accidents they will have to pay upwards of $6,600 a year. View Rates by Age
If you like to drive fast or you caused a few accidents, you are probably paying at a minimum $2,200 to $2,900 in extra premium per year, depending on your age. Insurance for high-risk drivers can cost as much as 43% to 136% more than the average rate. View High Risk Driver Rates
Opting for high physical damage deductibles could save up to $790 every year, whereas increasing liability limits will cost you more. Switching from a 50/100 bodily injury limit to a 250/500 limit will cost as much as $405 extra every year. View Rates by Deductible or Liability Limit
Where you live makes a big difference in Chevrolet Silverado EV insurance prices. 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% |
| 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 Buy Cheaper Chevrolet Silverado EV Insurance
Saving money on car insurance not only requires avoiding accidents and claims, but also having above-average credit, avoid buying unnecessary coverage, and deciding if full coverage is necessary. Take the time to comparison shop every couple of years by requesting rates from direct insurance companies like Progressive and GEICO, and also from local exclusive and independent agents.
The points below are a condensed summary of the material that was touched on in the above illustrations.
- Policyholders who require increased liability limits will pay around $500 annually to go from a minimum limit to higher 250/500 limits
- Drivers under the age of 20 are charged the highest rates, costing up to $556 per month if full coverage is included
- Higher risk drivers with multiple at-fault accidents may pay on average $2,130 more each year to insure a Chevrolet Silverado EV
- Increasing deductibles could save up to $800 each year
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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