Chevrolet Silverado EV Insurance Rates
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Michelle Robbins
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UPDATED: Mar 28, 2024
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The average insurance rates for a Chevrolet Silverado EV are $1,814 a year for full coverage. Comprehensive costs around $384, collision insurance costs $810, and liability costs $440. Liability-only insurance costs as little as $510 a year, and high-risk driver insurance costs around $3,958. 16-year-old drivers cost the most to insure at up to $6,676 a year.
Average premium for full coverage: $1,814
Policy rates for type of insurance:
Includes $500 physical damage deductibles, liability coverage up to 30/60, and includes uninsured/under-insured motorist coverage. Prices are averaged for all states and for different Silverado EV trim levels.
Price Range Variability
For the average 40-year-old driver, Chevrolet Silverado EV insurance rates range from the low end price of $510 for your basic liability-only policy to a much higher rate of $3,958 for a high-risk driver policy.
Urban vs. Rural Price Range
Your location can make a big difference on auto insurance rates. Areas with sparse population are shown to have lower incidents of accident claims than congested cities. The price range example below illustrates the difference location can make on auto insurance rates.
The examples above show why anyone shopping for car insurance should compare rates for a specific zip code, instead of making a decision based on 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.
More Rate Information
The chart below shows average Chevrolet Silverado EV insurance rates for additional coverage choices and driver risks.
- The best full coverage rate is $1,018
- Drivers who choose higher $1,000 deductibles will pay about $270 a year
- The estimated price for a good driver age 40 using $500 deductibles is $1,814
- Buying more expensive low deductibles for comprehensive and collision insurance bumps up the cost to $2,348
- Drivers with multiple tickets or accidents could pay at least $3,958
- Policy cost that insures a 16-year-old driver with full coverage can be $6,676 a year
Auto insurance rates for a Chevrolet Silverado EV also range considerably based on the model year and trim level, how you drive, and deductibles and policy limits.
If you have a few points on your driving record or you caused an accident, you could be paying at least $2,200 to $2,900 in extra premium every year, depending on your age. High-risk driver insurance can cost from 43% to 135% more than the average rate. View High Risk Driver Rates
An older driver with a good driving record and higher comprehensive and collision deductibles may pay as low as $1,700 per year on average, or $142 per month, for full coverage. Rates are highest for teenagers, since even teens with perfect driving records will have to pay as much as $6,600 a year. View Rates by Age
Your home state makes a big difference in Chevrolet Silverado EV insurance prices. A 40-year-old driver could pay as low as $1,200 a year in states like Idaho, Maine, and Iowa, or at least $2,590 on average in Michigan, Louisiana, and New York.
| State | Premium | Compared to U.S. Avg | Percent Difference |
|---|---|---|---|
| Alabama | $1,640 | -$174 | -9.6% |
| Alaska | $1,394 | -$420 | -23.2% |
| Arizona | $1,508 | -$306 | -16.9% |
| Arkansas | $1,814 | -$0 | 0.0% |
| California | $2,068 | $254 | 14.0% |
| Colorado | $1,732 | -$82 | -4.5% |
| Connecticut | $1,864 | $50 | 2.8% |
| Delaware | $2,054 | $240 | 13.2% |
| Florida | $2,270 | $456 | 25.1% |
| Georgia | $1,676 | -$138 | -7.6% |
| Hawaii | $1,302 | -$512 | -28.2% |
| Idaho | $1,230 | -$584 | -32.2% |
| Illinois | $1,350 | -$464 | -25.6% |
| Indiana | $1,370 | -$444 | -24.5% |
| Iowa | $1,226 | -$588 | -32.4% |
| Kansas | $1,724 | -$90 | -5.0% |
| Kentucky | $2,476 | $662 | 36.5% |
| Louisiana | $2,688 | $874 | 48.2% |
| Maine | $1,122 | -$692 | -38.1% |
| Maryland | $1,498 | -$316 | -17.4% |
| Massachusetts | $1,450 | -$364 | -20.1% |
| Michigan | $3,152 | $1,338 | 73.8% |
| Minnesota | $1,518 | -$296 | -16.3% |
| Mississippi | $2,176 | $362 | 20.0% |
| Missouri | $1,612 | -$202 | -11.1% |
| Montana | $1,952 | $138 | 7.6% |
| Nebraska | $1,432 | -$382 | -21.1% |
| Nevada | $2,178 | $364 | 20.1% |
| New Hampshire | $1,310 | -$504 | -27.8% |
| New Jersey | $2,030 | $216 | 11.9% |
| New Mexico | $1,606 | -$208 | -11.5% |
| New York | $1,914 | $100 | 5.5% |
| North Carolina | $1,046 | -$768 | -42.3% |
| North Dakota | $1,488 | -$326 | -18.0% |
| Ohio | $1,254 | -$560 | -30.9% |
| Oklahoma | $1,864 | $50 | 2.8% |
| Oregon | $1,662 | -$152 | -8.4% |
| Pennsylvania | $1,730 | -$84 | -4.6% |
| Rhode Island | $2,422 | $608 | 33.5% |
| South Carolina | $1,644 | -$170 | -9.4% |
| South Dakota | $1,532 | -$282 | -15.5% |
| Tennessee | $1,588 | -$226 | -12.5% |
| Texas | $2,186 | $372 | 20.5% |
| Utah | $1,342 | -$472 | -26.0% |
| Vermont | $1,244 | -$570 | -31.4% |
| Virginia | $1,086 | -$728 | -40.1% |
| Washington | $1,402 | -$412 | -22.7% |
| West Virginia | $1,666 | -$148 | -8.2% |
| Wisconsin | $1,254 | -$560 | -30.9% |
| Wyoming | $1,616 | -$198 | -10.9% |
Opting for high physical damage deductibles could save up to $810 annually, while increasing your policy's liability limits will increase rates. Going from a 50/100 bodily injury protection limit to a 250/500 limit will raise rates by up to $396 extra every year. View Rates by Deductible or Liability Limit
| Model Year | Comprehensive | Collision | Liability | Total Premium |
|---|---|---|---|---|
| 2024 Chevrolet Silverado EV | $384 | $810 | $440 | $1,814 |
| 2023 Chevrolet Silverado EV | $370 | $804 | $450 | $1,804 |
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 Cheapest Chevrolet Silverado EV Insurance
Finding cheaper rates on insurance for a Chevrolet Silverado EV not only requires being a safe and courteous driver, but also maintaining a good credit score, avoid buying unnecessary coverage, and possibly raising deductibles. Comparison shop every time your policy renews by obtaining price quotes from direct carriers, and also from several local insurance agents.
Below is a recap of the information touched on in this article.
- Drivers can save up to $230 per year just by shopping early and online
- Teenage drivers are expensive to insure, costing up to $556 each month if the policy includes full coverage
- Increasing comprehensive and collision deductibles can save approximately $800 each year
- Drivers considered higher risk that have major violations or accidents pay on average $2,140 more every year for auto insurance
- Insureds who may need higher levels of liability will pay around $480 each year to go from a 30/60 limit to the 250/500 level
Rate Tables and Charts
Rates by Driver Age
| Driver Age | Premium |
|---|---|
| 16 | $6,676 |
| 20 | $4,236 |
| 30 | $1,908 |
| 40 | $1,814 |
| 50 | $1,656 |
| 60 | $1,628 |
Full coverage, $500 deductibles
Rates by Deductible
| Deductible | Premium |
|---|---|
| $100 | $2,348 |
| $250 | $2,100 |
| $500 | $1,814 |
| $1,000 | $1,544 |
Full coverage, driver age 40
Rates by Liability Limit
| Liability Limit | Premium |
|---|---|
| 30/60 | $1,814 |
| 50/100 | $1,902 |
| 100/300 | $2,012 |
| 250/500 | $2,298 |
| 100 CSL | $1,946 |
| 300 CSL | $2,188 |
| 500 CSL | $2,364 |
Full coverage, driver age 40
Rates for High Risk Drivers
| Age | Premium |
|---|---|
| 16 | $9,576 |
| 20 | $6,746 |
| 30 | $4,058 |
| 40 | $3,958 |
| 50 | $3,776 |
| 60 | $3,746 |
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 | $98 |
| Multi-vehicle | $96 |
| Homeowner | $25 |
| 5-yr Accident Free | $143 |
| 5-yr Claim Free | $119 |
| Paid in Full/EFT | $90 |
| Advance Quote | $94 |
| Online Quote | $131 |
| Total Discounts | $796 |
Discounts are estimated and may not be available from every company or in every state.
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