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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The average insurance rates for a Chevrolet Silverado EV are $1,814 a year with full coverage. Comprehensive insurance costs on average $384 each year, collision costs $810, and liability costs around $440. A liability-only policy costs as low as $510 a year, with high-risk insurance costing $3,958 or more. Teenage drivers cost the most to insure at $6,676 a year or more.
Average premium for full coverage: $1,814
Policy rates by type of insurance:
Price estimates include $500 physical damage insurance deductibles, minimum liability limits, and includes additional medical/uninsured motorist coverage. Prices are averaged for all U.S. states and Silverado EV models.
Price Range Variability
For a 40-year-old driver, Chevrolet Silverado EV insurance rates go from as low as $510 for just the minimum liability insurance to a high rate of $3,958 for high-risk insurance.
Urban vs. Rural Price Range
Where you live can make a big difference on auto insurance rates. Rural areas are shown to have a lower frequency of collision claims than densely populated cities.
The graphic below illustrates how your location can change car insurance rates.
The examples above demonstrate why all drivers should compare prices based on a specific location and risk profile, instead of making a decision based 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.
Additional Rate Analysis
The chart below details estimated Chevrolet Silverado EV insurance rates for different risk profiles and scenarios.
- The best discount rate is $1,018
- Using higher $1,000 deductibles will save around $270 annually
- The average rate for a good driver age 40 with $500 deductibles is $1,814
- Using low deductibles for physical damage coverage will cost an extra $534 annually
- High-risk insureds who are prone to accidents and violations could pay upwards of $3,958 or more
- Policy cost for full coverage for a 16-year-old driver may cost $6,676 or more
Car insurance rates for a Chevrolet Silverado EV also range considerably based on your risk profile, the trim level and model year, and policy deductibles and limits.
More mature drivers with no driving violations and high deductibles may pay as low as $1,700 a year, or $142 per month, for full coverage. Rates are much higher for teenagers, where even good drivers will be charged upwards of $6,600 a year. View Rates by Age
Your home state has a huge impact on Chevrolet Silverado EV insurance prices. A driver around age 40 might see rates as low as $1,310 a year in states like New Hampshire, Ohio, and Utah, or be forced to pay as much as $2,450 on average in Florida, Michigan, 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% |
Using high physical damage deductibles could cut rates by as much as $810 annually, whereas increasing liability limits will cost you more. Moving from a 50/100 limit to a 250/500 limit will raise rates by up to $396 extra every 12 months. View Rates by Deductible or Liability Limit
If you have a few points on your driving record or tend to cause accidents, you may be forking out at a minimum $2,200 to $2,900 extra every year, depending on your age. Insurance for high-risk drivers can be from 43% to 135% more than a normal policy. View High Risk Driver Rates
Because rates have so much variability, the best way to find out exactly what you will pay is to do a rate comparison from multiple companies. Each insurance company uses a different method to calculate rates, so rate quotes will be varied from one company to the next.
| 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 Cheaper Chevrolet Silverado EV Insurance
Finding cheaper rates on insurance for a Chevrolet Silverado EV requires being a low-risk driver, having above-average credit, not filing small claims, and maximizing policy discounts. Invest the time to shop around every couple of years by getting quotes from direct companies like GEICO, Progressive, and Esurance, and also from local insurance agents.
The items below are a condensed summary of the material that was illustrated above.
- Insureds who require more liability coverage will pay an extra $480 every year to increase from a 30/60 limit to 250/500 limits
- Teen drivers are expensive to insure, as much as $556 each month if full coverage is included
- Drivers considered higher risk with multiple at-fault accidents may be required to pay an average of $2,140 more each year to insure their Silverado EV
- Increasing comprehensive and collision deductibles can save around $800 each year
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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