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 including full coverage. Comprehensive costs on average $370 each year, collision costs $804, and liability costs around $450. A policy with only liability insurance costs as low 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:
Includes $500 deductible amounts, 30/60 bodily injury liability limits, and includes uninsured/under-insured motorist coverage. Rates include averaging for all 50 U.S. states and Silverado EV models.
Insurance Price Range by Risk and Coverage
For the average 40-year-old driver, insurance rates for a Chevrolet Silverado EV go from the cheapest price of $518 for your basic liability-only policy to a high rate of $3,938 for a driver who requires high-risk insurance.
Insurance Price Range by Location
Where you live can make a big difference on car insurance rates. Rural areas are statistically proven to have more infrequent comprehensive and collision claims than densely populated cities.
The graphic below illustrates the difference location can make on car insurance rates.
These rate differences highlight why all drivers should compare prices based on a 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.
More Rate Information
The chart below breaks down estimated Chevrolet Silverado EV insurance rates for different risk profiles and scenarios.
- The best discount rate is $1,011
- Using higher $1,000 deductibles will save around $266 every year
- The average price for a 40-year-old good driver with $500 deductibles is $1,804
- Using low deductibles for physical damage coverage increases the price to $2,326
- High-risk insureds who are prone to accidents and violations could pay upwards of $3,938 or more
- An auto insurance policy to insure a 16-year-old driver may cost $6,674 or more
Car insurance prices for a Chevrolet Silverado EV also have a wide range based on physical damage deductibles and liability limits, your driving characteristics, and the trim level of your Silverado EV.
Using high physical damage deductibles could cut prices by as much as $790 annually, whereas increasing liability limits will cost you more. Changing 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
More mature drivers with no driving violations and higher deductibles may pay as low as $1,700 a year, or $142 per month, for full coverage. Prices are much higher for drivers in their teens, since even excellent drivers will be charged upwards of $6,600 a year. View Rates by Age
If you have a few violations or you were responsible for an accident, you are likely paying at a minimum $2,200 to $2,900 extra annually, depending on your age. Insurance for high-risk drivers can be from 43% to 136% more than a normal policy. View High Risk Driver Rates
Where you choose to live has a huge impact on Chevrolet Silverado EV insurance prices. A driver around age 40 might see prices as low as $1,380 a year in states like Missouri, New Hampshire, and Vermont, or be forced to pay 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% |
With such a large range in prices, the best way to figure out exactly what you will pay is to do a rate comparison from multiple companies. Each insurance 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 the Cheapest Chevrolet Silverado EV Insurance
Finding better rates on insurance for a Chevrolet Silverado EV requires having a good driving record, maintaining a good credit score, refrain from filing small claims, and maximizing policy discounts. Make time to compare rates at every other renewal by getting quotes from direct car insurance companies, and also from your local independent and exclusive agents.
The next list is a recap of the concepts that were touched on in this article.
- Drivers considered higher risk that have major violations or accidents may pay on average $2,130 more each year to buy Chevrolet Silverado EV insurance
- Drivers age 20 and younger are expensive to insure, with the cost nearing $556 per month if the policy includes full coverage
- You may be able to save as much as $220 per year simply by quoting online in advance
- Increasing policy deductibles could save as much as $800 each year
- You may be able to save as much as $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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