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 auto insurance rates for a Chevrolet Silverado EV are $1,804 annually including full coverage. Comprehensive costs on average $370 each year, collision costs $804, and liability costs around $450. A liability-only policy costs as low as $518 a year, with high-risk insurance costing around $3,938. Teenage drivers receive the highest rates at $6,674 a year or more.
Average premium for full coverage: $1,804
Rate estimates by individual coverage type:
Prices are based on $500 deductible amounts, 30/60 liability limits, and includes uninsured/under-insured motorist coverage. Rates are averaged for all 50 U.S. states and Silverado EV models.
Price Range by Coverage and Risk
Using a middle-aged driver as an example, prices range go from as cheap as $518 for your basic liability-only policy to a high rate of $3,938 for a driver required to buy high-risk insurance.
Price Range by Location
Where you live can have significant affects on car insurance rates. Rural areas tend to have fewer comprehensive and collision claims than densely populated cities.
The graphic below illustrates how where you live affects car insurance rates.
These examples highlight why all drivers should compare prices based on a specific location and their own personal driving habits, instead of using 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.
More Rate Information
The chart below breaks down estimated Chevrolet Silverado EV insurance rates for different risk profiles and scenarios.
- The best discount rate is $1,011
- Using higher $1,000 deductibles will save around $266 every year
- The estimated rate for a 40-year-old driver with $500 deductibles is $1,804
- Using low deductibles for physical damage coverage will cost $2,326
- Drivers who are prone to accidents and violations could pay upwards of $3,938 or more
- The cost with full coverage for a teen driver may cost $6,674 or more
Insurance rates for a Chevrolet Silverado EV can also vary considerably based on the trim level of your Silverado EV, your driving characteristics, and policy deductibles and limits.
More mature drivers with a clean driving record and high physical damage deductibles may pay as little as $1,700 a year for full coverage. Rates are much higher for teen drivers, where even without any violations or accidents they can expect to pay upwards of $6,600 a year. View Rates by Age
If you like to drive fast or you caused a few accidents, you are likely paying at a minimum $2,200 to $2,900 extra per year, depending on your age. Insurance for high-risk drivers can be as much as 43% to 136% more than a normal policy. View High Risk Driver Rates
Using high physical damage deductibles could cut rates by as much as $790 every year, whereas increasing liability limits will cost you more. Changing from a 50/100 bodily injury limit to a 250/500 limit will cost as much as $405 more per year. View Rates by Deductible or Liability Limit
Where you live has a huge impact on Chevrolet Silverado EV insurance prices. A driver around age 40 might see rates as low as $1,380 a year in states like Missouri, New Hampshire, and Vermont, or be forced to pay as much as $2,570 on average in Michigan, New York, and Louisiana.
| 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 so much variability in rates, the best way to figure out exactly what you will pay is to do a rate comparison and see which company has the best rate. Each insurance company uses a different method to calculate rates, so the rates can be significantly 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 Affordable Chevrolet Silverado EV Insurance
Saving money on car insurance requires having a good driving record, having a good credit history, not filing small claims, and bundling your home and auto policies. Take the time to comparison shop at every policy renewal by getting rate quotes from direct car insurance companies like Progressive and GEICO, and also from several local insurance agents.
The next list is a brief review of the data touched on in the above illustrations.
- Policyholders who require increased levels of liability coverage will pay an extra $500 per year to increase from a minimum limit to higher 250/500 limits
- You may be able to save as much as $220 per year simply by quoting online in advance
- Increasing deductibles could save up to $800 each year
- Drivers age 20 and younger pay the highest rates, as much as $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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