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 prices for a Chevrolet Silverado EV are $1,804 every 12 months for full coverage insurance. Comprehensive costs approximately $370, collision costs $804, and liability costs $450. A policy with only liability insurance costs as little as $518 a year, with a high-risk policy costing around $3,938. Teenage drivers pay the most at $6,674 a year or more.
Average premium for full coverage: $1,804
Premium estimates by type of coverage:
Prices are based on $500 policy deductibles, minimum liability limits, and includes medical and uninsured motorist coverage. Rates include averaging for all 50 states and for all Silverado EV models.
Insurance Price Range by Risk and Coverage
For an average driver, insurance rates for a Chevrolet Silverado EV go from the cheapest price of $518 for just liability coverage to the much higher price of $3,938 for high-risk insurance.
Insurance Price Range by Location
Your location can make a big difference on the price of auto insurance. Rural locations are statistically proven to have more infrequent physical damage claims than densely populated cities.
The example below illustrates the effect of geographic area on auto insurance prices.
These rate differences illustrate why everyone should compare rates using their specific location and their own driving history, instead of making a decision based 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.
Detailed Rate Analysis
The chart below illustrates estimated Chevrolet Silverado EV insurance rates for additional coverage and risk scenarios.
- The best discount rate is $1,011
- Drivers who choose higher $1,000 deductibles will pay $266 each year
- The average price for a 40-year-old good driver who chooses $500 deductibles is $1,804
- Using pricier low deductibles for comprehensive and collision insurance increases the price to $2,326
- Drivers who are prone to accidents and violations could pay around $3,938 or more
- An auto insurance policy to insure a 16-year-old driver for full coverage can cost $6,674 a year
Car insurance prices for a Chevrolet Silverado EV also have a wide range based on physical damage deductibles and liability limits, your risk profile, and the model of your Silverado EV.
Using high physical damage deductibles could save up to $790 annually, whereas buying more liability protection will push prices upward. Switching from a 50/100 liability limit to a 250/500 limit will cost up to $405 extra every 12 months. View Rates by Deductible or Liability Limit
A more mature driver with no driving violations and higher deductibles may pay as low as $1,700 per year on average, or $142 per month, for full coverage. Prices are much higher for drivers in their teens, since even excellent drivers will be charged in the ballpark of $6,600 a year. View Rates by Age
If you have a few violations or you were responsible for an accident, you are probably paying anywhere from $2,200 to $2,900 extra annually, depending on your age. Chevrolet Silverado EV insurance for high-risk drivers can cost from 43% to 136% more than a normal policy. View High Risk Driver Rates
Where you choose to live makes a big difference in Chevrolet Silverado EV insurance prices. A 40-year-old driver could pay as low as $1,180 a year in states like North Carolina, Wisconsin, and Vermont, or be forced to pay 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% |
With such a large range in prices, the only way to figure out who has the best car insurance prices is to regularly compare prices from multiple companies. Every company uses a different method to calculate prices, so rate quotes 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 Shop for Affordable Chevrolet Silverado EV Insurance
Finding better rates on insurance for a Chevrolet Silverado EV not only requires being a good driver, but also maintaining a good credit score, paying for small claims out-of-pocket, and avoiding coverage lapses. Take the time to compare rates every couple of years by getting rate quotes from direct insurance companies, and also from local insurance agencies.
The following list is a brief review of the material that was covered in the above illustrations.
- Insureds who purchase an increased level of liability coverage will pay an extra $500 annually to go from 30/60 bodily injury limits to a 250/500 level
- Drivers age 16 to 20 pay the highest auto insurance prices, with premiums being up to $556 per month if the policy includes full coverage
- Drivers considered higher risk with DUI or reckless driving convictions may have to pay on average $2,130 more per year than a safer driver
- Increasing policy deductibles could save as much as $800 each year
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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