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 around $370 each year, collision costs $804, and liability costs around $450. Liability-only coverage costs as low as $518 a year, with high-risk coverage costing $3,938 or more. Teenage drivers receive the highest rates at $6,674 a year or more.
Average premium for full coverage: $1,804
Rate estimates for individual coverage type:
Rate estimates include $500 policy deductibles, 30/60 liability coverage, and includes uninsured/under-insured motorist coverage. Rates are averaged for all 50 states and Silverado EV models.
Price Range by Coverage and Risk
For a driver in their 40's, prices range go from the low end price of $518 for your basic liability-only policy to a high rate of $3,938 for a policy for a high-risk driver.
Price Range by Location
Where you live can have significant affects on car insurance rates. Areas with sparse population tend to have lower incidents of physical damage claims than densely populated cities.
The graphic below illustrates how location helps determine auto insurance rates.
These examples illustrate why all drivers should compare prices for a specific zip code, 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.
More Rate Information
The chart below illustrates estimated Chevrolet Silverado EV insurance rates for additional coverage choices and driver risks.
- The best discount rate is $1,011
- Using higher $1,000 deductibles will save about $266 each year
- The estimated price for a 40-year-old driver using $500 deductibles is $1,804
- Using low deductibles for physical damage coverage will cost an additional $522 every year
- Drivers who are prone to accidents and violations could pay at least $3,938 or more
- The cost that insures a teen driver can be $6,674 or more
Car insurance rates for a Chevrolet Silverado EV can also vary considerably based on the trim level and model year, your age and driving record, and deductibles and policy limits.
If you like to drive fast or you caused an accident, you are probably paying at least $2,200 to $2,900 extra per year, depending on your age. Insurance for high-risk drivers can be as much as 43% to 136% more than a normal policy. View High Risk Driver Rates
More mature drivers with no driving violations and higher comprehensive and collision deductibles may pay as little as $1,700 a year for full coverage. Rates are much higher for teen drivers, since even teens with perfect driving records will be charged as much as $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 be forced to pay 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% |
Using high physical damage deductibles could cut rates by as much as $790 every year, whereas increasing liability limits will increase rates. 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
With so much variability in rates, the only way to figure out your exact price is to do a rate comparison and see which company has the best rate. Each insurance company uses a different method to calculate rates, so rate quotes 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 the Best Chevrolet Silverado EV Insurance
Saving money on car insurance requires being a good driver, having a positive credit history, avoid buying unnecessary coverage, and qualifying for all possible discounts. Compare prices every year by obtaining price quotes from direct insurance companies like Progressive, GEICO, and Esurance, and also from insurance agencies where you live.
The following list is a brief recap of the coverage data covered in the charts and tables above.
- It is possible to save up to $220 per year simply by quoting online in advance
- Increasing deductibles can save approximately $800 each year
- Drivers age 16 to 20 are the costliest to insure, costing up to $556 per month if full coverage is purchased
- Higher risk drivers who tend to receive serious violations could be forced to pay on average $2,130 more every year than a safer driver
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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