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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Estimated insurance prices for a Chevrolet Silverado EV are $1,804 every 12 months for full coverage insurance. Comprehensive costs an estimated $370 a year, collision costs $804, and liability insurance costs $450. A liability-only policy costs as little as $518 a year, with high-risk insurance costing around $3,938. Teenage drivers pay the most at $6,674 a year or more.
Average premium for full coverage: $1,804
Premium estimates broken down by type of coverage:
These estimates include $500 policy deductibles, 30/60 liability limits, and includes UM/UIM and medical coverage. Rates include averaging for all 50 states and Silverado EV trim levels.
Insurance Price Range by Risk and Coverage
Using a 40-year-old driver as an example, insurance rates for a Chevrolet Silverado EV go from the cheapest price of $518 for a discount liability-only rate to a high of $3,938 for a driver required to buy high-risk insurance.
Insurance Price Range by Location
Your location has a significant impact on the price of insurance. More rural locations are statistically proven to have more infrequent physical damage claims than densely populated cities.
The diagram below illustrates how rural and urban location affects insurance prices.
These rate differences illustrate why it is important to compare rates for a targeted area and their own driving history, rather than relying on 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.
Rates by State, City, and Model
The chart below illustrates estimated Chevrolet Silverado EV insurance rates for other coverage scenarios.
- The best discount rate is $1,011
- Drivers who choose higher $1,000 deductibles will pay approximately $1,538 each year
- The average price for a 40-year-old good driver who has $500 deductibles is $1,804
- Using low $100 deductibles for comprehensive and collision insurance increases the price to $2,326
- High risk drivers who are prone to accidents and violations could pay up to $3,938 or more
- An auto insurance policy to insure a teen driver can cost as much as $6,674 a year
Auto insurance prices for a Chevrolet Silverado EV also have a wide range based on physical damage deductibles and liability limits, your risk profile, and the model year and trim level.
Using high physical damage deductibles could save up to $790 each year, while buying higher liability limits will increase premiums. Switching from a 50/100 liability limit to a 250/500 limit will cost up to $405 extra every year. View Rates by Deductible or Liability Limit
Older drivers with a good driving record and higher deductibles could pay as little as $1,700 per year on average, or $142 per month, for full coverage. Prices are much higher for drivers in their teens, since even excellent drivers will have to pay at least $6,600 a year. View Rates by Age
If you have a few violations or you were responsible for an accident, you are probably paying $2,200 to $2,900 in extra premium annually, depending on your age. A high-risk auto insurance policy can cost anywhere from 43% to 136% more than a normal policy. View High Risk Driver Rates
Where you choose to live makes a big difference in Chevrolet Silverado EV insurance rates. A 40-year-old driver could pay as low as $1,180 a year in states like North Carolina, Wisconsin, and Vermont, or be forced to pay as much as $2,430 on average in Florida, New York, 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% |
With such a large range in prices, the only way to figure out which insurance company is cheapest is to get quotes from as many companies as possible. Every company uses a different method to calculate prices, and quoted prices will be substantially 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 Shop for Cheap Chevrolet Silverado EV Insurance
Finding better rates on Chevrolet Silverado EV insurance not only requires avoiding accidents and claims, but also having a good credit score, paying for small claims out-of-pocket, and qualifying for all possible discounts. Set aside time to shop around at every policy renewal by getting quotes from direct insurance companies, and also from insurance agencies where you live.
The points below are a brief summary of the data raised in the charts and tables above.
- Drivers who want increased liability limits will pay an extra $500 annually to go from 30/60 bodily injury limits to a 250/500 level
- It is possible to save approximately $220 per year simply by quoting early and online
- Increasing policy deductibles could save as much as $800 each year
- Drivers under the age of 20 are the costliest to insure, with premiums being up to $556 per month if comprehensive and collision insurance is included
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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