Chevrolet Silverado EV Insurance Rates
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Michelle Robbins
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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 auto insurance rates for a Chevrolet Silverado EV are $1,804 annually including full coverage. Comprehensive insurance costs approximately $370 each year, collision insurance costs $804, and liability costs $450. A liability-only policy costs as little as $518 a year, and high-risk insurance costs $3,938 or more. Teen drivers receive the highest rates at up to $6,674 a year.
Average premium for full coverage: $1,804
Rate estimates by individual coverage type:
Full coverage includes $500 comprehensive and collision deductibles, minimum liability limits, and includes medical/PIP and uninsured motorist coverage. Rates are averaged for all 50 U.S. states and Silverado EV models.
Price Range by Coverage and Risk
Using a 40-year-old driver as an example, prices range range from as cheap as $518 for liability-only coverage to a high rate of $3,938 for high-risk insurance.
Price Range by Location
Your location can make a big difference on car insurance prices. Rural locations tend to have fewer comprehensive and collision claims than larger metro areas. The graphic below illustrates how rural and urban location affects auto insurance prices.
These examples highlight why all drivers should compare rates using their specific location and their own personal driving habits, 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.
Additional Charts and Tables
The chart below breaks down average Chevrolet Silverado EV insurance rates for additional coverage and risk scenarios.
- The lowest rate with discounts is $1,011
- Drivers who choose higher $1,000 deductibles will pay $266 every year
- The estimated rate for a 40-year-old driver who chooses $500 deductibles is $1,804
- Choosing low deductibles for comprehensive and collision insurance costs an additional $522 annually
- Drivers with multiple violations and an at-fault accident could pay around $3,938
- The cost with full coverage for a 16-year-old driver can cost $6,674 a year
Insurance rates for a Chevrolet Silverado EV can also vary considerably based on the trim level of your Silverado EV, your driving characteristics, and physical damage deductibles and liability limits.
More mature drivers with a clean driving record and high physical damage deductibles may pay as low as $1,700 per year on average for full coverage. Rates are highest for teen drivers, where even without any violations or accidents they can expect to pay in the ballpark of $6,600 a year. View Rates by Age
If you like to drive fast or you caused a few accidents, you are likely paying anywhere from $2,200 to $2,900 extra per year, depending on your age. Insurance for high-risk drivers can cost from 43% to 136% more than average. View High Risk Driver Rates
Choosing high deductibles could save up to $790 annually, whereas increasing liability limits will push rates upward. Changing from a 50/100 bodily injury limit to a 250/500 limit will cost as much as $405 more per year. View Rates by Deductible or Liability Limit
Where you live makes a big difference in Chevrolet Silverado EV insurance prices. A 40-year-old driver could pay as low as $1,380 a year in states like Vermont, New Hampshire, and Missouri, or as much as $2,570 on average in Louisiana, 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% |
| 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 More Affordable Chevrolet Silverado EV Insurance
Saving money on insurance for a Chevrolet Silverado EV not only requires avoiding accidents and violations, but also having a good credit history, not filing small claims, and possibly raising deductibles. Set aside time to shop around every couple of years by getting quotes from direct car insurance companies like Progressive and GEICO, and also from local insurance agencies.
The list below is a summary of the material that was raised in the charts and tables above.
- Insureds who purchase higher liability limits will pay about $500 per year to go from a minimum limit to higher 250/500 limits
- Teenagers are expensive to insure, as much as $556 per month including comprehensive and collision insurance
- Drivers considered higher risk who have multiple accidents or major violations may have to pay on average $2,130 more per year for car insurance
- Increasing deductibles could save up to $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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