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...
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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 an estimated $370 a year, collision costs $804, and liability is $450. Buying just liability costs around $518 a year, with insurance 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 broken down by individual coverage type:
These estimates include $500 policy deductibles, 30/60 bodily injury liability limits, and includes uninsured motorist and medical coverage. Rates are averaged for all U.S. states and Silverado EV trim levels.
Price Range by Coverage and Risk
For a driver around age 40, prices range go from the low end price of $518 for the bare minimum liability coverage to a high of $3,938 for a driver who requires high-risk insurance.
Price Range by Location
Choosing to live in a large city can make a big difference on car insurance rates. More rural locations tend to have lower incidents of collision claims than larger metro areas.
The diagram below illustrates the difference between rural and urban areas on insurance prices.
These examples demonstrate why it is important to compare rates quotes for a targeted area, instead of making a decision based 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.
Additional Rate Information
The chart below details estimated Chevrolet Silverado EV insurance rates for other coverage scenarios.
- The lowest rate with discounts is $1,011
- Raising to $1,000 deductibles will save approximately $1,538 annually
- The estimated price for a 40-year-old driver who has $500 deductibles is $1,804
- Choosing low $100 deductibles bumps up the cost to $2,326
- Drivers with multiple violations and an at-fault accident could pay up to $3,938 or more
- The cost that insures a 16-year-old driver can cost as much as $6,674
Auto insurance rates for a Chevrolet Silverado EV can also vary considerably based on the trim level of your Silverado EV, your age and driving habits, and liability limits and deductibles.
If you like to drive fast or you caused an accident, you may be forking out $2,200 to $2,900 in extra premium per year, depending on your age. A high-risk auto insurance policy is expensive and can cost from 43% to 136% more than average. View High Risk Driver Rates
Older drivers with a good driving record and higher comprehensive and collision deductibles may pay as low as $1,700 every 12 months on average for full coverage. Rates are highest for teen drivers, since even teens with perfect driving records will have to pay at least $6,600 a year. View Rates by Age
Where you live also has a big influence on Chevrolet Silverado EV insurance prices. A middle-age driver might find 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 can reduce rates by up to $790 annually, while buying higher liability limits will increase premiums. Moving from a 50/100 bodily injury protection limit to a 250/500 limit will cost as much as $405 extra every year. View Rates by Deductible or Liability Limit
With so much variability in rates, the best way to find out which company is cheapest is to get quotes from multiple companies. Every auto insurance company uses a different rate calculation, and quoted rates can be significantly 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 Find Cheap Chevrolet Silverado EV Insurance
Saving money on insurance for a Chevrolet Silverado EV consists of being safe and accident-free, maintaining a good credit score, eliminating unnecessary coverage, and qualifying for all possible discounts. Shop around at every other renewal by getting quotes from direct companies like Progressive, GEICO, and Esurance, and also from insurance agencies where you live.
Below you'll find a brief summary of the concepts that were covered above.
- Drivers considered higher risk that tend to have accidents or serious violations could be forced to pay on average $2,130 more annually than a low-risk driver
- Youthful drivers are the costliest to insure, with premiums as much as $556 per month if the policy includes full coverage
- You may be able to save approximately $220 per year simply by quoting early and online
- Increasing deductibles can save approximately $800 each year
- You may be able to save approximately $220 per year simply by quoting 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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