Chevrolet Silverado EV Insurance Rates
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Michelle Robbins
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UPDATED: Mar 28, 2024
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U.S. average auto insurance rates for a Chevrolet Silverado EV are $1,804 annually for full coverage insurance. Comprehensive costs on average $370, collision insurance costs $804, and liability insurance costs $450. Buying just liability costs as little as $518 a year, and insurance for high-risk drivers costs around $3,938. Teenage drivers pay the highest rates at up to $6,674 a year.
Average premium for full coverage: $1,804
Price estimates by individual coverage:
Prices are based on $500 comprehensive and collision deductibles, 30/60 liability limits, and includes medical and UM/UIM coverage. Estimates are averaged for all 50 states and for different Silverado EV trim levels.
Price Range from Low to High
For the average 40-year-old driver, Chevrolet Silverado EV insurance prices range from as cheap as $518 for just liability insurance to a much higher rate of $3,938 for a driver required to buy high-risk insurance.
Geographic Price Range
Your location has a significant impact on insurance rates. Rural areas have fewer physical damage claims than densely populated cities. The price range example below illustrates the difference location can make on car insurance rates.
The ranges above illustrate why anyone shopping for car insurance should compare rates 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.
More Rate Details
The chart below illustrates average Chevrolet Silverado EV insurance rates for different risk profiles and scenarios.
- The best discount rate is $1,011
- Drivers who choose higher $1,000 deductibles will pay around $266 each year
- The estimated rate for the average middle-age driver with $500 deductibles is $1,804
- Using more expensive low deductibles for comprehensive and collision insurance will cost $2,326
- High risk drivers who are prone to accidents and violations could pay upwards of $3,938
- The price with full coverage for a teen driver with full coverage may cost $6,674 a year
Insurance prices for a Chevrolet Silverado EV are also quite variable based on the trim level and model year, your risk profile, and policy deductibles and limits.
An older driver with no violations or accidents and high physical damage deductibles could pay as little as $1,700 per year on average for full coverage. Prices are much higher for teenage drivers, where even without any violations or accidents they should be prepared to pay upwards of $6,600 a year. View Rates by Age
If you have some driving violations or you caused a few accidents, you are probably paying at a minimum $2,200 to $2,900 additional each year, depending on your age. High-risk driver insurance can cost anywhere from 43% to 136% more than a normal policy. View High Risk Driver Rates
Using high physical damage deductibles could save up to $790 each year, while increasing your policy's liability limits will cost you more. Switching from a 50/100 bodily injury limit to a 250/500 limit will increase prices by as much as $405 more each year. View Rates by Deductible or Liability Limit
The state you live in makes a big difference in Chevrolet Silverado EV insurance rates. A 40-year-old driver could pay as low as $1,180 a year in states like Vermont, Wisconsin, and North Carolina, or be forced to pay as much as $2,430 on average in Michigan, New York, and Florida.
| 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% |
| 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
Getting lower rates on Chevrolet Silverado EV insurance not only requires having a decent driving record, but also having good credit, not filing small claims, and dropping full coverage on older vehicles. Make time to compare rates at every policy renewal by requesting rates from direct insurance companies like GEICO, Progressive, and Esurance, and also from local exclusive and independent agents.
The following items are a brief review of the data touched on in this article.
- Drivers who require additional liability coverage will pay an extra $500 annually to go from a low limit to higher 250/500 limits
- It is possible to save as much as $220 per year just by shopping early and online
- Increasing physical damage deductibles could save up to $800 each year
- 16 to 18-year-old drivers pay higher prices, as much as $556 a month if they have full coverage
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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