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 auto insurance rates for a Chevrolet Silverado EV are $1,804 annually for full coverage insurance. Comprehensive costs approximately $370 each year, collision costs $804, and liability insurance is estimated at $450. Liability-only coverage costs approximately $518 a year, with high-risk coverage costing around $3,938. 16-year-old drivers pay the most at $6,674 a year or more.
Average premium for full coverage: $1,804
Premium estimates by type of coverage:
Rate estimates include $500 policy deductibles, split liability limits of 30/60, and includes medical/PIP and uninsured motorist coverage. Rates include averaging for all 50 states and Silverado EV models.
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 as cheap as $518 for liability-only coverage to a high rate of $3,938 for coverage for higher-risk drivers.
Insurance Price Range by Location
Living in a larger city has a significant impact on the price of auto insurance. Rural locations are statistically proven to have fewer physical damage claims than congested cities.
The graphic below illustrates how rural and urban location affects auto insurance prices.
These rate differences illustrate why all drivers should get quotes using their specific location and their own personal driving habits, 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.
Additional Charts and Tables
The chart below illustrates estimated Chevrolet Silverado EV insurance rates for additional coverage and risk scenarios.
- The best full coverage rate is $1,011
- Choosing higher $1,000 deductibles can save $266 each year
- The estimated rate for a 40-year-old good driver who chooses $500 deductibles is $1,804
- Buying low deductibles for comp and collision coverage will cost $2,326
- High-risk insureds with multiple tickets or accidents could pay around $3,938 or more
- An auto insurance policy with full coverage for a teen driver can cost $6,674 each year
Insurance prices for a Chevrolet Silverado EV also have a wide range based on the model of your Silverado EV, your risk profile, and physical damage deductibles and liability limits.
More mature drivers with a clean driving record and high physical damage deductibles could pay as little as $1,700 annually on average, or $142 per month, for full coverage. Prices are highest for drivers in their teens, where even without any violations or accidents they can expect to pay in the ballpark of $6,600 a year. View Rates by Age
If you have a few violations or you caused a few accidents, you are probably paying anywhere from $2,200 to $2,900 extra annually, depending on your age. Insurance for high-risk drivers ranges anywhere from 43% to 136% more than the average rate. View High Risk Driver Rates
Opting for high physical damage deductibles can save as much as $790 each year, whereas increasing liability limits will push prices upward. Switching from a 50/100 bodily injury limit to a 250/500 limit will cost up to $405 more per year. View Rates by Deductible or Liability Limit
Where you choose to live plays a big part in determining prices for Chevrolet Silverado EV insurance rates. A good driver about age 40 could pay as low as $1,180 a year in states like North Carolina, Wisconsin, and Vermont, or at least $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 who has the best car insurance prices is to do a rate comparison from as many companies as possible. Each auto insurer utilizes a different rate formula, so the prices will be substantially different between companies.
| 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 Buy the Best Chevrolet Silverado EV Insurance
Finding better rates on Chevrolet Silverado EV insurance takes being safe and accident-free, having a good credit history, paying for small claims out-of-pocket, and maximizing policy discounts. Set aside time to shop around at least once a year by getting quotes from direct insurance companies, and also from insurance agencies where you live.
Below you'll find a brief recap of the primary concepts that were raised in the charts and tables above.
- It is possible to save around $220 per year simply by quoting online in advance
- High-risk drivers who tend to receive serious violations could be forced to pay on average $2,130 more per year than a low-risk driver
- Increasing policy deductibles could save up to $800 each year
- Youthful drivers are expensive to insure, with premiums being up to $556 per month including comprehensive and collision 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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