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...
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UPDATED: Mar 28, 2024
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Average insurance rates for a Chevrolet Silverado EV are $1,804 a year for full coverage. Comprehensive insurance costs around $370 each year, collision costs $804, and liability coverage is $450. Liability-only coverage costs around $518 a year, with high-risk coverage costing $3,938 or more. 16-year-old drivers receive the highest rates at $6,674 a year or more.
Average premium for full coverage: $1,804
Rate estimates for individual coverage type:
Includes $500 comprehensive and collision deductibles, bodily injury liability limits of 30/60, and includes uninsured motorist and medical coverage. Rates are averaged for all states and Silverado EV models.
Price Range by Coverage and Risk
For the average 40-year-old driver, prices range go from as low as $518 for the bare minimum liability coverage to a high rate of $3,938 for a driver who has had serious violations or accidents.
Price Range by Location
Choosing to live in a large city has a large influence on auto insurance rates. Areas with sparse population tend to have a lower frequency of accident claims than congested cities.
The graphic below illustrates the difference location can make on auto insurance rates.
These examples show why all drivers should compare rates quotes for a specific zip code and risk profile, rather than using 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.
Additional Rate Information
The chart below shows estimated Chevrolet Silverado EV insurance rates for additional coverage choices and driver risks.
- The best full coverage rate is $1,011
- Raising to $1,000 deductibles will save about $266 a year
- The average rate for a 40-year-old driver using $500 deductibles is $1,804
- Buying low deductibles will cost an extra $522 each year
- Unlucky drivers with multiple tickets or accidents could pay at least $3,938 or more
- The cost for full coverage for a teenage driver can be $6,674
Car insurance rates for a Chevrolet Silverado EV can also vary considerably based on your driver profile, the trim level of your Silverado EV, and deductibles and policy limits.
More mature drivers with no driving violations and high deductibles may only pay around $1,700 every 12 months on average for full coverage. Rates are highest for teen drivers, where even good drivers will be charged as much as $6,600 a year. View Rates by Age
Where you live also has a big influence on Chevrolet Silverado EV insurance rates. A middle-age driver might find rates as low as $1,190 a year in states like Idaho, Maine, and Iowa, or at least $2,570 on average in Michigan, Louisiana, and New York.
| 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 can reduce rates by up to $790 a year, whereas increasing liability limits will increase rates. Going from a 50/100 limit to a 250/500 limit will cost as much as $405 extra every 12 months. View Rates by Deductible or Liability Limit
If you like to drive fast or tend to cause accidents, you could be paying at least $2,200 to $2,900 extra per year, depending on your age. Insurance for high-risk drivers is expensive and can cost around 43% to 136% more than the average rate. View High Risk Driver Rates
With so much variability in rates, the only way to know your exact price is to do a rate comparison and see how they stack up. Every auto insurance company utilizes a different rate formula, so rate quotes can be significantly different from one company to the next.
| 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 the Cheapest Chevrolet Silverado EV Insurance
Saving money on auto insurance consists of having a decent driving record, having above-average credit, eliminating unneeded coverage, and qualifying for all possible discounts. Make time to compare rates every other policy renewal by obtaining price quotes from direct carriers like GEICO and Progressive, and also from local insurance agents.
The following items are a recap of the ideas that were touched on in this article.
- 16 to 18-year-old drivers are the costliest to insure, costing as high as $556 per month if full coverage is included
- Drivers that have major violations or accidents may be required to pay an average of $2,130 more every year than a driver with a clean driving record
- Increasing deductibles can save around $800 each year
- Drivers can save up to $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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