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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Average insurance rates for a Chevrolet Silverado EV are $1,804 a year for full coverage insurance. Comprehensive insurance costs on average $370, collision insurance costs $804, and liability costs around $450. Liability-only coverage costs as low as $518 a year, and high-risk coverage costs $3,938 or more. 16-year-old drivers receive the highest rates at up to $6,674 a year.
Average premium for full coverage: $1,804
Rate estimates by individual coverage type:
Price estimates include $500 deductibles, 30/60 liability coverage, and includes additional medical/uninsured motorist coverage. Rates are averaged for all 50 states and for all Silverado EV models.
Price Range by Coverage and Risk
Using a 40-year-old driver as an example, prices range range from the low end price of $518 for just the minimum liability insurance to the much higher price of $3,938 for a policy for a high-risk driver.
Price Range by Location
Where you live can have significant affects on insurance rates. Rural areas tend to have lower incidents of physical damage claims than congested cities. The example below illustrates how rural and urban location affects car insurance rates.
These examples illustrate why everyone should compare prices based on a specific location, instead of using 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.
Additional Rate Analysis
The chart below illustrates average Chevrolet Silverado EV insurance rates for different risk profiles and scenarios.
- The best full coverage rate is $1,011
- Using higher $1,000 deductibles will save around $266 each year
- The estimated price for a 40-year-old driver with $500 deductibles is $1,804
- Buying pricier low deductibles for physical damage coverage will cost an additional $522 every year
- Drivers with multiple tickets or accidents could pay upwards of $3,938
- The cost that insures a teen driver for full coverage may cost $6,674 or more
Car insurance rates for a Chevrolet Silverado EV can also vary considerably based on the model of your Silverado EV, your age and driving record, and policy deductibles and limits.
If you like to drive fast or you caused an accident, you are probably paying at a minimum $2,200 to $2,900 extra per year, depending on your age. Chevrolet Silverado EV insurance for high-risk drivers can be as much as 43% to 136% more than the average rate. View High Risk Driver Rates
A more mature driver with no driving violations and higher comprehensive and collision deductibles may pay as little as $1,700 a year for full coverage. Rates are highest for teen drivers, since even teens with perfect driving records will be charged upwards of $6,600 a year. View Rates by Age
Where you live has a huge impact on Chevrolet Silverado EV insurance prices. A driver around age 40 might see rates as low as $1,180 a year in states like Vermont, Wisconsin, and North Carolina, or at least $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% |
Opting for high physical damage deductibles could cut rates by as much as $790 every year, whereas buying more liability protection will cost you more. Switching from a 50/100 bodily injury protection limit to a 250/500 limit will cost as much as $405 extra every 12 months. View Rates by Deductible or Liability Limit
| 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 Cheaper Chevrolet Silverado EV Insurance
Saving money on car insurance requires not taking risks behind the wheel, having a positive credit history, avoid buying unnecessary coverage, and possibly raising deductibles. Comparison shop every year by requesting quotes from direct insurance companies like Progressive, GEICO, and Esurance, and also from your local independent and exclusive agents.
The following is a condensed summary of the coverage data raised in the charts and tables above.
- It is possible to save as much as $220 per year just by quoting online well ahead of the renewal date
- Increasing deductibles can save approximately $800 each year
- Teens are expensive to insure, costing up to $556 per month if full coverage is purchased
- Higher risk drivers with multiple at-fault accidents may pay on average $2,130 more each year for Silverado EV 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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