Chevrolet Silverado EV Insurance Rates
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Michelle Robbins
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UPDATED: Mar 28, 2024
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The average insurance rates for a Chevrolet Silverado EV are $1,804 a year with full coverage. Comprehensive insurance costs around $370 a year, collision costs $804, and liability costs $450. Liability-only coverage costs as little as $518 a year, with high-risk coverage costing $3,938 or more. Teenage drivers cost the most to insure at $6,674 a year or more.
Average premium for full coverage: $1,804
Policy rates for type of insurance:
These estimates include $500 comprehensive and collision deductibles, 30/60 split liability limits, and includes additional medical/uninsured motorist coverage. Prices are averaged for all U.S. states and Silverado EV trim levels.
Price Range Variability
For a driver in their 40's, Chevrolet Silverado EV insurance rates go from as low as $518 for just the minimum liability insurance to a high of $3,938 for a high-risk insurance policy.
Urban vs. Rural Price Range
Your location can make a big difference on insurance rates. Areas with sparse population are shown to have a lower frequency of collision claims than densely populated cities.
The diagram below illustrates how location helps determine auto insurance rates.
The examples above demonstrate why it is important to compare rates for a specific zip code 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 additional coverage choices and driver risks.
- The best discount rate is $1,011
- Drivers who choose higher $1,000 deductibles will pay about $1,538 annually
- The average rate for a good driver age 40 using $500 deductibles is $1,804
- Using low $100 deductibles for comprehensive and collision insurance will cost an extra $522 annually
- Drivers who are prone to accidents and violations could pay at least $3,938 or more
- Policy cost for full coverage for a 16-year-old driver can be $6,674 a year
Insurance rates for a Chevrolet Silverado EV also range considerably based on your risk profile, the trim level and model year, and deductibles and policy limits.
Older drivers with no violations or accidents and high deductibles may pay as low as $1,700 per year on average, or $142 per month, for full coverage. Rates are much higher for teenagers, where even good drivers should be prepared to pay as much as $6,600 a year. View Rates by Age
Your home state makes a big difference in Chevrolet Silverado EV insurance prices. A 40-year-old driver could pay as low as $1,300 a year in states like New Hampshire, Ohio, and Utah, or be forced to pay as much as $2,430 on average in Florida, Michigan, and New York.
| 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% |
Using high physical damage deductibles could save up to $790 annually, while buying higher liability limits will increase rates. Moving from a 50/100 limit to a 250/500 limit will raise rates by up to $405 more each year. 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 least $2,200 to $2,900 additional every year, depending on your age. A high-risk auto insurance policy can cost from 43% to 136% more than a normal policy. View High Risk Driver Rates
Because rates have so much variability, the best way to find out your exact price is to get quotes from multiple companies. Every company uses a different method to calculate rates, and rates will be varied 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 Cheap Chevrolet Silverado EV Insurance
Finding cheaper rates on insurance for a Chevrolet Silverado EV not only requires having a decent driving record, but also having a good credit history, not filing small claims, and taking advantage of discounts. Invest time comparing rates at least every other year by quoting rates from direct companies like GEICO, Progressive, and Esurance, and also from local independent and exclusive agents.
The following items are a brief summary of the car insurance concepts covered in the charts and tables above.
- Drivers considered higher risk that tend to have accidents or serious violations pay an average of $2,130 more every year than a driver with a clean driving record
- You may be able to save up to $220 per year simply by quoting early and online
- Increasing comprehensive and collision deductibles can save around $800 each year
- Insureds who may need additional liability coverage will pay an extra $500 every year to go from a 30/60 limit to 250/500 limits
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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