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 auto insurance rates for a Chevrolet Silverado EV are $1,804 annually for full coverage insurance. Comprehensive costs an estimated $370, collision costs $804, and liability is estimated at $450. Liability-only coverage costs approximately $518 a year, with high-risk coverage costing around $3,938. 16-year-old drivers pay the most at $6,674 a year or more.
Average premium for full coverage: $1,804
Premium estimates broken down by type of coverage:
Estimates include $500 deductible amounts, 30/60 liability limits, and includes both medical and UM/UIM coverage. Rates include averaging for all 50 states and for different Silverado EV trim levels.
Insurance Price Range by Risk and Coverage
For the normal driver, insurance rates for a Chevrolet Silverado EV go from as cheap as $518 for basic liability insurance to a much higher rate of $3,938 for a driver required to buy high-risk insurance.
Insurance Price Range by Location
Living in a larger city can make a big difference on the price of insurance. More rural locations are statistically proven to have fewer physical damage claims than congested cities.
The price range example below illustrates how geographic area affects insurance prices.
These rate differences illustrate why anyone shopping for car insurance should get quotes for a targeted area and their own personal driving habits, 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.
Rate Comparisons
The chart below illustrates estimated Chevrolet Silverado EV insurance rates for other coverage scenarios.
- The best full coverage rate is $1,011
- Choosing higher $1,000 deductibles can save approximately $266 each year
- The estimated rate for a 40-year-old good driver who has $500 deductibles is $1,804
- Buying more expensive low deductibles for comp and collision coverage will cost $2,326
- Higher-risk drivers with multiple tickets or accidents could pay up to $3,938 or more
- An auto insurance policy with full coverage for a 16-year-old driver with full coverage can cost as much as $6,674 each year
Insurance prices for a Chevrolet Silverado EV also have a wide range based on the model of your Silverado EV, your risk profile, and liability limits and deductibles.
An older driver with a clean driving record and high physical damage deductibles may pay as low as $1,700 annually on average, or $142 per month, for full coverage. Prices are highest for drivers in their teens, where even without any violations or accidents they can expect to pay at least $6,600 a year. View Rates by Age
If you have a few violations or you caused a few accidents, you are probably paying $2,200 to $2,900 extra annually, depending on your age. High-risk driver insurance ranges from 43% to 136% more than the average rate. View High Risk Driver Rates
Opting for high physical damage deductibles can save as much as $790 annually, while increasing your policy's liability limits will increase premiums. Switching from a 50/100 bodily injury limit to a 250/500 limit will cost up to $405 more per year. View Rates by Deductible or Liability Limit
Where you choose to live plays a big part in determining prices for Chevrolet Silverado EV insurance prices. A good driver about age 40 could pay as low as $1,180 a year in states like North Carolina, Wisconsin, and Vermont, or at least $2,430 on average in Florida, New York, and Michigan.
| 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 figure out which insurance company is cheapest is to compare prices from multiple companies. Each auto insurer utilizes a different rate formula, so the prices will be substantially different between companies.
| 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 Low Cost Chevrolet Silverado EV Insurance
Finding better rates on insurance for a Chevrolet Silverado EV takes having a good driving record, having a good credit history, paying for small claims out-of-pocket, and taking advantage of discounts. Invest the time to compare rates at every policy renewal by getting quotes from direct insurance companies, and also from your local independent and exclusive agents.
The next list is a review of the data presented in the illustrations above.
- Insureds who want increased levels of liability coverage will pay around $500 annually to raise limits from 30/60 bodily injury limits to higher 250/500 limits
- It is possible to save approximately $220 per year simply by shopping early and online
- Increasing policy deductibles could save up to $800 each year
- Drivers age 20 and younger are charged the highest prices, with premiums being up to $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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