Chevrolet Silverado EV Insurance Rates
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Michelle Robbins
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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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U.S. average insurance rates for a Chevrolet Silverado EV are $1,804 a year including full coverage. Comprehensive costs around $370 a year, collision costs $804, and liability insurance costs $450. A policy with just liability insurance costs as little as $518 a year, with coverage for high-risk drivers costing around $3,938. 16-year-old drivers pay the highest rates at $6,674 a year or more.
Average premium for full coverage: $1,804
Price estimates for individual coverage:
Prices include $500 physical damage deductibles, liability limits of 30/60, and includes uninsured/under-insured motorist coverage. Estimates are averaged for all 50 U.S. states and Silverado EV trim levels.
Price Range from Low to High
Using a 40-year-old driver as an example, Chevrolet Silverado EV insurance prices go from as low as $518 for your basic liability-only policy to a high of $3,938 for a driver that may need high-risk insurance.
Geographic Price Range
Your location has a significant impact on the price of insurance. Areas with sparse population have a lower frequency of comprehensive and collision claims than congested cities.
The diagram below illustrates how rural and urban location affects auto insurance rates.
The ranges above highlight why it is important to compare rates for a specific zip code and risk profile, rather than relying 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 breaks down estimated Chevrolet Silverado EV insurance rates for additional coverage choices and driver risks.
- The best full coverage rate is $1,011
- Drivers who choose higher $1,000 deductibles will pay about $1,538 every year
- The average rate for the average middle-age driver using $500 deductibles is $1,804
- Buying low $100 deductibles for comprehensive and collision insurance will increase the cost to $2,326
- High risk drivers with multiple tickets or accidents could pay at least $3,938 or more
- The price for full coverage for a teen driver can be $6,674 a year
Insurance prices for a Chevrolet Silverado EV are also quite variable based on your driving record, the model of your Silverado EV, and deductibles and policy limits.
Older drivers with a clean driving record and high deductibles could pay as little as $1,700 per year on average for full coverage. Prices are highest for teenage drivers, where even good drivers can expect to pay as much as $6,600 a year. View Rates by Age
The state you live in makes a big difference in Chevrolet Silverado EV insurance rates. A 40-year-old driver could pay as low as $1,380 a year in states like Missouri, New Hampshire, and Vermont, or at least $2,570 on average in Michigan, New York, and Louisiana.
| 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 save up to $790 each year, while buying higher liability limits will increase prices. Changing from a 50/100 limit to a 250/500 limit will increase prices by as much as $405 more per year. View Rates by Deductible or Liability Limit
If you have some driving violations or tend to cause accidents, you are likely paying at least $2,200 to $2,900 extra each year, depending on your age. A high-risk auto insurance policy can cost anywhere from 43% to 136% more than the average rate. View High Risk Driver Rates
Since prices can be so different, the best way to figure out your exact price is to get quotes from as many companies as possible. Every company utilizes a different rate formula, so the prices may be quite different 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 the Right Chevrolet Silverado EV Insurance
Getting lower rates on Chevrolet Silverado EV insurance not only requires being a safe and courteous driver, but also maintaining good credit, being claim-free, and insuring your home and auto with the same company. Set aside time to shop around once a year by getting rate quotes from direct car insurance companies like Progressive and GEICO, and also from several local insurance agents.
Below is a quick rundown of the data that was raised in the charts and tables above.
- You may be able to save up to $220 per year simply by quoting early and online
- Drivers who may need higher levels of liability will pay around $500 per year to go from a low limit to 250/500 limits
- Teenage drivers pay higher prices, possibly costing $556 a month for full coverage
- High-risk drivers with reckless driving or DUI convictions pay on average $2,130 more every year for auto 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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