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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Estimated insurance rates for a Chevrolet Silverado EV are $1,804 a year for full coverage insurance. Comprehensive insurance costs an estimated $370 each year, collision costs $804, and liability is estimated at $450. A liability-only policy costs approximately $518 a year, with high-risk insurance costing $3,938 or more. Teen drivers pay the most at $6,674 a year or more.
Average premium for full coverage: $1,804
Premium estimates broken down by type of coverage:
Price estimates include $500 policy deductibles, bodily injury liability limits of 30/60, and includes uninsured/under-insured motorist coverage. Rates include averaging for all 50 states and Silverado EV models.
Insurance Price Range by Risk and Coverage
For the normal driver, insurance rates for a Chevrolet Silverado EV go from the low end price of $518 for your basic liability-only policy to a high rate of $3,938 for a driver who has had serious violations or accidents.
Insurance Price Range by Location
Living in a larger city can make a big difference on the price of insurance. More rural locations are statistically proven to have lower incidents of physical damage claims than larger metro areas.
The graphic below illustrates how geographic area affects insurance prices.
These rate differences illustrate why all drivers should get quotes for a targeted area, instead of making a decision based on price 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.
More Rate Information
The chart below illustrates estimated Chevrolet Silverado EV insurance rates for other coverage scenarios.
- The lowest rate with discounts is $1,011
- Choosing higher $1,000 deductibles can save approximately $266 each year
- The estimated price for a 40-year-old good driver who has $500 deductibles is $1,804
- Choosing low deductibles for comp and collision coverage will cost an additional $522 annually
- Higher-risk drivers with multiple violations and an at-fault accident could pay up to $3,938 or more
- An auto insurance policy that insures a 16-year-old driver can cost as much as $6,674 each year
Auto insurance prices for a Chevrolet Silverado EV also have a wide range based on the trim level and model year, your age and driving record, and liability limits and deductibles.
If you have a few violations or you caused an accident, you are probably paying $2,200 to $2,900 in extra premium annually, depending on your age. Insurance for high-risk drivers ranges from 43% to 136% more than average. View High Risk Driver Rates
More mature drivers with a good driving record and higher comprehensive and collision deductibles may pay as low as $1,700 annually on average, or $142 per month, for full coverage. Prices are highest for drivers in their teens, since even teens with perfect driving records will have to pay at least $6,600 a year. View Rates by Age
Where you choose to live plays a big part in determining prices for Chevrolet Silverado EV insurance prices. A good driver about age 40 could pay as low as $1,180 a year in states like North Carolina, Wisconsin, and Vermont, or as much as $2,430 on average in Florida, 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% |
Choosing high deductibles can save as much as $790 annually, whereas increasing liability limits will increase premiums. Switching from a 50/100 bodily injury protection limit to a 250/500 limit will cost up to $405 extra every year. View Rates by Deductible or Liability Limit
With such a large range in prices, the only way to figure out which insurance company is cheapest is to do a rate comparison from multiple companies. Each auto insurer uses a different rate calculation, and quoted prices will be substantially different.
| 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 Cheaper Chevrolet Silverado EV Insurance
Finding better rates on insurance for a Chevrolet Silverado EV takes being a good driver, maintaining a good credit score, paying for small claims out-of-pocket, and qualifying for all possible discounts. Shop around every other policy renewal by obtaining price quotes from direct insurance companies, and also from local insurance agencies.
The following list is a condensed summary of the ideas that were presented in the illustrations above.
- Drivers age 16 to 20 are the costliest to insure, with premiums being up to $556 per month if the policy includes full coverage
- Drivers considered higher risk with multiple at-fault accidents may have to pay on average $2,130 more annually than a safer driver
- Increasing policy deductibles can save approximately $800 each year
- It is possible to save approximately $220 per year simply by quoting online in advance
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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