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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The average insurance rates for a Chevrolet Silverado EV are $1,804 a year for full coverage. Comprehensive costs approximately $370, collision costs $804, and liability costs around $450. Liability-only insurance costs as low as $518 a year, with high-risk driver insurance costing around $3,938. Teenage drivers cost the most to insure at $6,674 a year or more.
Average premium for full coverage: $1,804
Policy rates by type of insurance:
Estimates include $500 physical damage insurance deductibles, 30/60 bodily injury liability limits, and includes additional medical/uninsured motorist coverage. Prices are averaged for all states and for all Silverado EV models.
Price Range Variability
For a 40-year-old driver, Chevrolet Silverado EV insurance rates go from as low as $518 for just the minimum liability insurance to the much higher price of $3,938 for a driver who requires high-risk insurance.
Urban vs. Rural Price Range
Where you live can have significant affects on car insurance rates. Rural locations are shown to have a lower frequency of accident claims than densely populated cities.
The example below illustrates how your location can change auto insurance prices.
The examples above show why everyone should compare prices using their specific location and risk profile, instead of using average rates.
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 shows estimated Chevrolet Silverado EV insurance rates for additional coverage and risk scenarios.
- The best discount rate is $1,011
- Using higher $1,000 deductibles will save $266 a year
- The average rate for a good driver age 40 who chooses $500 deductibles is $1,804
- Using pricier low deductibles for physical damage coverage will increase the cost to $2,326
- Drivers who are prone to accidents and violations could pay around $3,938 or more
- Policy cost for full coverage for a teen driver for full coverage can cost $6,674 or more
Auto insurance rates for a Chevrolet Silverado EV also range considerably based on your risk profile, the trim level of your Silverado EV, and physical damage deductibles and liability limits.
A more mature driver with a good driving record and high deductibles may pay as little as $1,700 a year, or $142 per month, for full coverage. Rates are much higher for teenagers, where even good drivers will have to pay in the ballpark of $6,600 a year. View Rates by Age
Your home state has a huge impact on Chevrolet Silverado EV insurance prices. A driver around age 40 might see rates as low as $1,190 a year in states like Iowa, Maine, and Idaho, or be forced to pay as much as $2,570 on average in New York, Louisiana, 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% |
Using high physical damage deductibles could cut rates by as much as $790 every year, whereas buying more liability protection will push rates upward. Going from a 50/100 limit to a 250/500 limit will raise rates by up to $405 extra every year. View Rates by Deductible or Liability Limit
If you have a few points on your driving record or tend to cause accidents, you could be paying anywhere from $2,200 to $2,900 in extra premium every year, depending on your age. Chevrolet Silverado EV insurance for high-risk drivers can be as much as 43% to 136% more than a normal policy. View High Risk Driver Rates
Because rates have so much variability, the only way to know who has the cheapest car insurance rates is to regularly compare rates and see which company has the best rate. Each insurance company uses a different method to calculate rates, and quoted rates will be varied 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 Low Cost Chevrolet Silverado EV Insurance
Finding cheaper rates on car insurance requires being a low-risk driver, having good credit, avoid buying unnecessary coverage, and not having any coverage lapses. Invest the time to shop around at every other renewal by getting rate quotes from direct carriers like GEICO, Progressive, and Esurance, and also from local exclusive and independent agents.
The items below are a review of the concepts that were illustrated above.
- Higher risk drivers who have several accidents or serious violations may pay on average $2,130 more per year to insure their Silverado EV
- Teen drivers have the highest car insurance rates, costing up to $556 each month if they have full coverage
- Drivers can save around $220 per year simply by quoting online well ahead of the renewal date
- Increasing comprehensive and collision deductibles can save around $800 each year
- Drivers can save around $220 per year simply by quoting online well ahead of the renewal date
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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