Chevrolet Silverado EV Insurance Rates
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Michelle Robbins
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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...
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UPDATED: Mar 28, 2024
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Average insurance rates for a Chevrolet Silverado EV are $1,804 a year with full coverage. Comprehensive costs approximately $370 a year, collision costs $804, and liability insurance costs around $450. A policy with just liability insurance costs as low as $518 a year, with coverage for high-risk drivers costing around $3,938. Teen drivers receive the highest rates at $6,674 a year or more.
Average premium for full coverage: $1,804
Rate estimates by individual coverage type:
Prices include $500 comprehensive and collision deductibles, 30/60 liability limits, and includes both medical and UM/UIM coverage. Rates are averaged for all U.S. states and Silverado EV trim levels.
Price Range by Coverage and Risk
Using a 40-year-old driver as an example, prices range go from as low as $518 for basic liability insurance to a high of $3,938 for a driver required to buy high-risk insurance.
Price Range by Location
Where you live has a significant impact on the price of insurance. Rural locations tend to have a lower frequency of collision claims than larger metro areas.
The diagram below illustrates how rural and urban location affects auto insurance prices.
These examples demonstrate why it is important to compare prices using their specific location and risk profile, rather than relying on price 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.
Rate Comparisons
The chart below details estimated Chevrolet Silverado EV insurance rates for additional coverage and risk scenarios.
- The lowest rate with discounts is $1,011
- Using higher $1,000 deductibles will save $1,538 annually
- The average rate for a 40-year-old driver who chooses $500 deductibles is $1,804
- Choosing low $100 deductibles for physical damage coverage will increase the cost to $2,326
- Drivers with multiple violations and an at-fault accident could pay around $3,938 or more
- The cost for full coverage for a teen driver can cost $6,674 or more
Insurance rates for a Chevrolet Silverado EV can also vary considerably based on your driver profile, the trim level and model year, and physical damage deductibles and liability limits.
Older drivers with no violations or accidents and high deductibles could pay as little as $1,700 a year for full coverage. Rates are highest for teen drivers, where even good drivers should be prepared to pay in the ballpark of $6,600 a year. View Rates by Age
Where you live has a huge impact on Chevrolet Silverado EV insurance rates. A driver around age 40 might see rates as low as $1,300 a year in states like Utah, Ohio, and New Hampshire, or as much as $2,430 on average in New York, Michigan, 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% |
Choosing high deductibles could cut rates by as much as $790 each year, while buying higher liability limits will push rates upward. Moving 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 may be forking out anywhere from $2,200 to $2,900 additional per year, depending on your age. A high-risk auto insurance policy can be anywhere from 43% to 136% more than average. View High Risk Driver Rates
With so much variability in rates, the best way to find out who has the cheapest auto insurance rates is to get quotes from as many companies as possible. Each insurance company uses a different rate calculation, and rates can be significantly 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 the Right Chevrolet Silverado EV Insurance
Saving money on Chevrolet Silverado EV insurance requires avoiding accidents and violations, having a good credit history, eliminating unnecessary coverage, and qualifying for all possible discounts. Set aside time to shop around at every policy renewal by getting quotes from direct companies like GEICO and Progressive, and also from several local insurance agents.
The list below is a quick rundown of the data raised in the charts and tables above.
- Drivers who purchase higher liability limits will pay about $500 every year to increase from a minimum limit to 250/500 limits
- You may be able to save around $220 per year simply by quoting early and online
- Increasing deductibles can save around $800 each year
- Teenagers are the costliest to insure, with premiums as much as $556 per month including comprehensive and collision insurance
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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