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 insurance. Comprehensive costs on average $370, collision insurance costs $804, and liability coverage costs $450. Liability-only insurance costs as little as $518 a year, and high-risk driver insurance costs around $3,938. Teen drivers pay the most at up to $6,674 a year.
Average premium for full coverage: $1,804
Premium estimates by type of coverage:
Prices include $500 deductible amounts, 30/60 bodily injury liability limits, and includes medical and uninsured motorist coverage. Rates include averaging for all 50 states and for different Silverado EV trim levels.
Insurance Price Range by Risk and Coverage
For an average driver, insurance rates for a Chevrolet Silverado EV range from the cheapest price of $518 for just liability coverage to a much higher rate of $3,938 for a driver who requires high-risk insurance.
Insurance Price Range by Location
Your location has a large influence on insurance rates. Rural areas are statistically proven to have more infrequent physical damage claims than larger metro areas. The price range example below illustrates the effect of geographic area on car insurance rates.
These rate differences illustrate why anyone shopping for car insurance should compare rates based on a specific location and their own driving history, rather than using 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.
Detailed Rate Analysis
The chart below illustrates average Chevrolet Silverado EV insurance rates for different risk profiles and scenarios.
- The lowest rate with discounts is $1,011
- Drivers who choose higher $1,000 deductibles will pay around $266 each year
- The average price for a 40-year-old good driver with $500 deductibles is $1,804
- Choosing more expensive low deductibles for comprehensive and collision insurance increases the price to $2,326
- High-risk insureds with multiple violations and an at-fault accident could pay upwards of $3,938
- An auto insurance policy to insure a teenage driver with full coverage may cost $6,674 a year
Insurance prices for a Chevrolet Silverado EV also have a wide range based on physical damage deductibles and liability limits, your risk profile, and the trim level of your Silverado EV.
Choosing high deductibles could save up to $790 a year, while increasing your policy's liability limits will cost you more. Switching from a 50/100 liability limit to a 250/500 limit will cost up to $405 more each year. View Rates by Deductible or Liability Limit
An older driver with no violations or accidents and higher deductibles may only pay around $1,700 per year on average, or $142 per month, for full coverage. Prices are highest for drivers in their teens, since even excellent drivers should be prepared 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 are probably paying at a minimum $2,200 to $2,900 additional annually, depending on your age. High-risk driver insurance can cost around 43% to 136% more than average. View High Risk Driver Rates
Where you choose to 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 as much as $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 Shop for the Right Chevrolet Silverado EV Insurance
Finding better rates on auto insurance not only requires having a good driving record, but also having above-average credit, paying for small claims out-of-pocket, and dropping full coverage on older vehicles. Take the time to compare rates at every other renewal by requesting rates from direct insurance companies, and also from several local insurance agents.
The next list is a quick rundown of the concepts that were covered in the above illustrations.
- Drivers with reckless driving or DUI convictions pay on average $2,130 more each year to buy Chevrolet Silverado EV insurance
- Drivers age 20 and younger pay higher prices, with premiums being up to $556 per month if full coverage is included
- It is possible to save as much as $220 per year just by shopping early and online
- Increasing policy deductibles could save as much as $800 each year
- It is possible to save as much as $220 per year just by shopping early and online
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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