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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Average insurance rates for a Chevrolet Silverado EV are $1,804 a year including full coverage. Comprehensive insurance costs on average $370 a year, collision costs $804, and liability insurance is $450. A policy with just liability insurance costs around $518 a year, with coverage for high-risk drivers costing $3,938 or more. Teen drivers receive the highest rates at $6,674 a year or more.
Average premium for full coverage: $1,804
Rate estimates by individual coverage type:
Estimates include $500 comprehensive and collision deductibles, 30/60 split liability limits, and includes uninsured/under-insured motorist coverage. Rates are averaged for all 50 U.S. states and Silverado EV trim levels.
Price Range by Coverage and Risk
For a 40-year-old driver, prices range go from as low as $518 for your basic liability-only policy to a high of $3,938 for a high-risk insurance policy.
Price Range by Location
Choosing to live in a large city has a significant impact on car insurance rates. Rural areas tend to have a lower frequency of comprehensive and collision claims than larger metro areas.
The diagram below illustrates how your location can change car insurance rates.
These examples highlight why it is important to compare rates quotes based on a specific location and risk profile, rather than relying 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 breaks down estimated Chevrolet Silverado EV insurance rates for different risk profiles and scenarios.
- The lowest rate with discounts is $1,011
- Raising to $1,000 deductibles will save around $1,538 every year
- The average rate for a 40-year-old driver with $500 deductibles is $1,804
- Choosing low $100 deductibles will cost an extra $522 a year
- Higher-risk drivers with multiple violations and an at-fault accident could pay upwards of $3,938 or more
- The cost for full coverage for a teen driver may cost $6,674
Insurance rates for a Chevrolet Silverado EV can also vary considerably based on your driver profile, the model of your Silverado EV, and policy deductibles and limits.
Older drivers with no violations or accidents and high deductibles could pay as little as $1,700 every 12 months on average for full coverage. Rates are highest for teen drivers, where even good drivers should be prepared to pay upwards of $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 $1,380 a year in states like Missouri, New Hampshire, and Vermont, or as much as $2,570 on average in Michigan, New York, and Louisiana.
| 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 reduce rates by up to $790 each year, while buying higher liability limits will cost you more. Changing from a 50/100 limit to a 250/500 limit will cost as much as $405 more each year. View Rates by Deductible or Liability Limit
If you like to drive fast or tend to cause accidents, you are likely paying at a minimum $2,200 to $2,900 additional per year, depending on your age. A high-risk auto insurance policy is expensive and can cost anywhere from 43% to 136% more than average. View High Risk Driver Rates
With so much variability in rates, the best way to figure out exactly what you will pay is to get quotes from as many companies as possible. Every auto insurance company uses a different rate calculation, and rates 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 Low Cost Chevrolet Silverado EV Insurance
Saving money on Chevrolet Silverado EV insurance consists of having a decent driving record, having a good credit history, not filing small claims, and insuring your home and auto with the same company. Invest the time to shop around at least every other year by getting rate quotes from direct car insurance companies like GEICO and Progressive, and also from local exclusive and independent agents.
The following items are a review of the car insurance concepts illustrated above.
- High-risk drivers who have several accidents or serious violations may pay on average $2,130 more each year than a driver with a clean driving record
- You may be able to save as much as $220 per year simply by quoting early and online
- Increasing deductibles can save around $800 each year
- Drivers who require additional liability coverage will pay about $500 per year to raise from a minimum limit to 250/500 limits
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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