Chevrolet Silverado EV Insurance Rates
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Michelle Robbins
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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...
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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 including full coverage. Comprehensive costs approximately $370, collision insurance costs $804, and liability costs around $450. Buying just liability costs as low as $518 a year, and insurance for high-risk drivers costs around $3,938. 16-year-old drivers cost the most to insure at up to $6,674 a year.
Average premium for full coverage: $1,804
Policy rates by type of insurance:
Estimates include $500 policy deductibles, liability coverage up to 30/60, and includes UM/UIM and medical coverage. Prices are averaged for all 50 U.S. states and for all Silverado EV models.
Price Range Variability
Using a 40-year-old driver as an example, Chevrolet Silverado EV insurance rates range from the low end price of $518 for a discount liability-only rate to the much higher price of $3,938 for a high-risk driver policy.
Urban vs. Rural Price Range
Where you live can make a big difference on car insurance prices. Rural locations are shown to have lower incidents of comprehensive and collision claims than congested cities. The example below illustrates how rural and urban location affects auto insurance prices.
The examples above highlight why everyone should compare prices using their specific location, instead of making a decision based 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.
Rates by State, City, and Model
The chart below breaks down average Chevrolet Silverado EV insurance rates for additional coverage and risk scenarios.
- The best full coverage rate is $1,011
- Using higher $1,000 deductibles will save $266 every year
- The estimated price for a good driver age 40 who chooses $500 deductibles is $1,804
- Buying pricier low deductibles for physical damage coverage bumps up the cost to $2,326
- High-risk insureds with multiple tickets or accidents could pay around $3,938
- Policy cost that insures a 16-year-old driver for full coverage can cost $6,674 or more
Insurance rates for a Chevrolet Silverado EV also range considerably based on the model of your Silverado EV, your driving record and age, and physical damage deductibles and liability limits.
If you have a few points on your driving record or you caused an accident, you are likely paying anywhere from $2,200 to $2,900 extra every year, depending on your age. Chevrolet Silverado EV insurance for high-risk drivers can be from 43% to 136% more than the average rate. View High Risk Driver Rates
A more mature driver with a clean driving record and higher comprehensive and collision deductibles may pay as low as $1,700 a year, or $142 per month, for full coverage. Rates are highest for teenagers, since even teens with perfect driving records can expect to pay in the ballpark 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 $1,380 a year in states like Vermont, New Hampshire, and Missouri, or at least $2,570 on average in Louisiana, 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% |
Opting for high physical damage deductibles could cut rates by as much as $790 annually, whereas buying more liability protection will push rates upward. Changing from a 50/100 bodily injury protection limit to a 250/500 limit will raise rates by up to $405 more per year. View Rates by Deductible or Liability Limit
| 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 Low Cost Chevrolet Silverado EV Insurance
Finding cheaper rates on insurance for a Chevrolet Silverado EV requires being safe and accident-free, having above-average credit, paying for small claims out-of-pocket, and possibly raising deductibles. Comparison shop every time your policy renews by requesting quotes from direct car insurance companies, and also from local auto insurance providers.
Below you'll find a review of the information raised in the charts and tables above.
- You may be able to save around $220 per year just by quoting online well ahead of the renewal date
- Youthful drivers are expensive to insure, with premiums being up to $556 each month if full coverage is included
- Increasing comprehensive and collision deductibles can save approximately $800 each year
- Drivers considered higher risk who have several accidents or serious violations will likely pay on average $2,130 more per year than a low-risk driver
- Insureds who purchase more liability protection will pay around $500 per year to increase from a 30/60 limit to the 250/500 level
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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