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 prices for a Chevrolet Silverado EV are $1,804 every 12 months for full coverage insurance. Comprehensive costs on average $370 a year, collision insurance costs $804, and liability is estimated at $450. A liability-only policy costs approximately $518 a year, and high-risk insurance costs around $3,938. Teen 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 policy deductibles, 30/60 split liability limits, and includes additional medical/uninsured motorist coverage. Rates are averaged for all 50 states and Silverado EV trim levels.
Price Range by Coverage and Risk
For the average driver, prices range range from the cheapest price of $518 for just the minimum liability insurance to a high of $3,938 for a high-risk insurance policy.
Price Range by Location
Living in a larger city can make a big difference on insurance rates. Rural areas tend to have more infrequent physical damage claims than larger metro areas. The diagram below illustrates how location impacts car insurance rates.
These examples illustrate why it is important to get quotes based on a specific location and their own driving history, instead of making a decision based on price 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 lowest rate with discounts is $1,011
- Choosing higher $1,000 deductibles can save around $1,538 each year
- The average price for a 40-year-old driver with $500 deductibles is $1,804
- Choosing low $100 deductibles for comp and collision coverage increases the price to $2,326
- Higher-risk drivers with multiple violations and an at-fault accident could pay upwards of $3,938
- The cost to insure a 16-year-old driver may cost $6,674 each year
Insurance rates for a Chevrolet Silverado EV can also vary considerably based on policy deductibles and limits, your risk profile, and the trim level of your Silverado EV.
Choosing high deductibles can save as much as $790 annually, while buying higher liability limits will cost you more. Switching from a 50/100 liability limit to a 250/500 limit will cost as much as $405 more per year. View Rates by Deductible or Liability Limit
Older drivers with a clean driving record and higher deductibles may pay as low as $1,700 annually on average for full coverage. Rates are highest for teen drivers, since even excellent drivers can expect to pay upwards of $6,600 a year. View Rates by Age
If you like to drive fast or you were responsible for an accident, you are probably paying at a minimum $2,200 to $2,900 extra per year, depending on your age. A high-risk auto insurance policy ranges from 43% to 136% more than average. View High Risk Driver Rates
Where you live plays a big part in determining prices for Chevrolet Silverado EV insurance prices. A good driver about age 40 could pay as low as $1,180 a year in states like Vermont, Wisconsin, and North Carolina, or 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% |
| 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 Shop for Cheaper Chevrolet Silverado EV Insurance
Saving money on insurance for a Chevrolet Silverado EV takes avoiding accidents and claims, having good credit, avoid buying unnecessary coverage, and determing if full coverage is necessary. Spend time shopping around at least every other year by getting price quotes from direct insurance companies like GEICO, Progressive, and Esurance, and also from several local insurance agents.
The points below are a condensed summary of the car insurance concepts touched on above.
- Drivers considered higher risk with multiple at-fault accidents pay on average $2,130 more each year to insure a Chevrolet Silverado EV
- It is possible to save as much as $220 per year just by quoting early and online
- Increasing deductibles could save as much as $800 each year
- Insureds who require increased liability limits will pay about $500 annually to raise limits from a minimum limit to a 250/500 level
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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