Chevrolet Silverado EV Insurance Rates

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UPDATED: Mar 28, 2024

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Estimated auto insurance rates for a Chevrolet Silverado EV are $1,804 annually including full coverage. Comprehensive insurance costs on average $370, collision insurance costs $804, and liability insurance costs around $450. Liability-only coverage costs as low as $518 a year, and high-risk coverage costs $3,938 or more. Teenage drivers pay the most at up to $6,674 a year.

Average premium for full coverage: $1,804

Premium estimates by type of coverage:

Comprehensive $370
Collision $804
Liability $450

Price estimates include $500 physical damage insurance deductibles, liability coverage up to 30/60, and includes both medical and uninsured motorist insurance. Rates include averaging for all 50 U.S. states and for all Silverado EV models.

Insurance Price Range by Risk and Coverage

For a driver around age 40, insurance rates for a Chevrolet Silverado EV range from as cheap as $518 for minimum levels of liability insurance to the much higher price of $3,938 for a high-risk driver policy.

Liability Only $518
Full Coverage $1,804
High Risk $3,938

Insurance Price Range by Location

Where you live has a significant impact on car insurance rates. Rural areas are statistically proven to have fewer comprehensive and collision claims than densely populated cities. The example below illustrates the difference between rural and urban areas on car insurance rates.

Rural Areas $1,353
Small Cities $1,894
Large Cities $2,435

These rate differences highlight why everyone should compare prices based on a specific location and their own personal driving habits, 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.

Additional Rate Details

The chart below breaks down average 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 good driver with $500 deductibles is $1,804
  • Using pricier low deductibles for physical damage coverage costs an additional $522 a year
  • Drivers who are prone to accidents and violations could pay upwards of $3,938
  • An auto insurance policy with full coverage for a teen driver for full coverage may cost $6,674 or more

View Chart as Image

Chevrolet Silverado EV insurance cost comparison chart
Column chart showing Chevrolet Silverado EV insurance prices range from $1,011 to $6,674 for full coverage

Insurance prices for a Chevrolet Silverado EV also have a wide range based on the model of your Silverado EV, your driving characteristics, and policy deductibles and limits.

A more mature driver with a clean driving record and high physical damage deductibles could pay as little as $1,700 a year, or $142 per month, for full coverage. Prices are much higher for drivers in their teens, where even without any violations or accidents they can expect to pay upwards of $6,600 a year. View Rates by Age

If you have a few violations or you caused a few accidents, you are likely paying at a minimum $2,200 to $2,900 extra annually, depending on your age. Chevrolet Silverado EV insurance for high-risk drivers can be anywhere from 43% to 136% more than a normal policy. View High Risk Driver Rates

Using high physical damage deductibles could cut prices by as much as $790 each year, whereas buying more liability protection will cost you more. Changing 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 has a huge impact on Chevrolet Silverado EV insurance rates. A driver around age 40 might see prices 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.

Chevrolet Silverado EV Insurance Rates by State
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%

View Chart as Image

Chevrolet Silverado EV insurance rates by U.S. city
Chevrolet Silverado EV Insurance Rates by Model Year
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 Cheaper Chevrolet Silverado EV Insurance

Finding better rates on Chevrolet Silverado EV insurance requires being a low-risk driver, having a good credit history, refrain from filing small claims, and determing if full coverage is necessary. Set aside time to compare rates every time your policy renews by requesting rates from direct car insurance companies, and also from several local insurance agents.

The items below are a condensed summary of the information covered above.

  • You may be able to save as much as $220 per year just by quoting online well ahead of the renewal date
  • Teen drivers pay the highest prices, with the cost nearing $556 per month including comprehensive and collision insurance
  • Increasing policy deductibles could save up to $800 each year
  • High-risk drivers with multiple at-fault accidents pay on average $2,130 more each year to insure their Silverado EV
  • Drivers who require more liability coverage will pay an extra $500 per year to increase from 30/60 bodily injury limits to higher 250/500 limits

Rates by Driver Age

Chevrolet Silverado EV Insurance 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

Chevrolet Silverado EV Insurance Rates with Different Deductibles
Deductible Premium
$100 $2,326
$250 $2,082
$500 $1,804
$1,000 $1,538

Full coverage, driver age 40

Rates by Liability Limit

Chevrolet Silverado EV Insurance Rates with Different Liability Limits
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

Chevrolet Silverado EV Insurance 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.

SR-22 Surcharge $261

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
Rate after discounts $1,011

Discounts are estimated and may not be available from every company or in every state.

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