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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Estimated insurance prices for a Chevrolet Silverado EV are $1,804 every 12 months for full coverage. Comprehensive insurance costs on average $370, collision costs $804, and liability costs $450. A liability-only policy costs as little as $518 a year, with high-risk insurance costing $3,938 or more. Teens pay the most at $6,674 a year or more.
Average premium for full coverage: $1,804
Premium estimates by type of coverage:
Prices are based on $500 physical damage insurance deductibles, 30/60 liability limits, and includes additional medical/uninsured motorist coverage. Rates include averaging for all states and for different Silverado EV trim levels.
Insurance Price Range by Risk and Coverage
For a 40-year-old driver, insurance rates for a Chevrolet Silverado EV go from the cheapest price of $518 for just the minimum liability insurance to a much higher rate of $3,938 for a driver required to buy high-risk insurance.
Insurance Price Range by Location
Your location can make a big difference on car insurance rates. Rural areas are statistically proven to have more infrequent accident claims than cities with more traffic congestion.
The price range example below illustrates how your location can change car insurance rates.
These rate differences show why anyone shopping for car insurance should compare rates based on a specific location and their own driving history, instead of making a decision based on averaged prices.
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 Analysis
The chart below shows estimated Chevrolet Silverado EV insurance rates for different risk profiles and scenarios.
- The cheapest rate after discounts is $1,011
- Drivers who choose higher $1,000 deductibles will pay around $266 a year
- The average price for a 40-year-old good driver with $500 deductibles is $1,804
- Selecting more expensive low deductibles for comprehensive and collision insurance costs an extra $522 annually
- Drivers with serious driving violations could pay upwards of $3,938 or more
- An auto insurance policy to insure a 16-year-old driver with full coverage may cost $6,674 a year
Auto insurance prices for a Chevrolet Silverado EV also have a wide range based on physical damage deductibles and liability limits, your driver profile, and the trim level of your Silverado EV.
Choosing higher comprehensive and collision insurance deductibles could save up to $790 annually, while increasing your policy's liability limits will cost you more. Going from a 50/100 liability limit to a 250/500 limit will cost up to $405 extra every year. View Rates by Deductible or Liability Limit
An older driver with a good driving record and higher deductibles may pay as low as $1,700 per year on average, or $142 per month, for full coverage. Prices are much higher for drivers in their teens, since even excellent drivers will have to pay upwards of $6,600 a year. View Rates by Age
If you have a few violations or you were responsible for an accident, you could be paying at a minimum $2,200 to $2,900 in extra premium annually, depending on your age. High-risk driver insurance can cost from 43% to 136% more than the average policy. View High Risk Driver Rates
Where you choose to live makes a big difference in Chevrolet Silverado EV insurance prices. A 40-year-old driver could pay as low as $1,190 a year in states like Idaho, Maine, and Iowa, or have to pay at least $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% |
With such a large range in prices, the only way to know exactly what you will pay is to compare prices from multiple companies. Every company calculates prices differently, and quoted prices will be substantially 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 Affordable Chevrolet Silverado EV Insurance
Finding better rates on insurance for a Chevrolet Silverado EV not only requires being a low-risk driver, but also having a good credit score, not filing small claims, and taking advantage of discounts. Invest the time to shop around at every policy renewal by getting quotes from direct carriers, and also from local independent and exclusive agents.
The items below are a brief review of the data illustrated above.
- Insureds who require more liability coverage will pay approximately $500 each year to go from 30/60 bodily injury limits to a 250/500 level
- Drivers can save as much as $220 per year simply by shopping early and online
- Increasing policy deductibles could save as much as $800 each year
- Teen drivers are charged the highest prices, as much as $556 per month if comprehensive and collision insurance is included
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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