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 for full coverage insurance. Comprehensive insurance costs approximately $370 a year, collision insurance costs $804, and liability insurance costs $450. Buying just liability costs as little as $518 a year, and insurance for high-risk drivers 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:
Includes $500 policy deductibles, minimum liability limits, and includes additional medical/uninsured motorist coverage. Rates are averaged for all 50 states and Silverado EV trim levels.
Price Range by Coverage and Risk
For an average driver, prices range range from as low as $518 for just the minimum liability insurance to a high of $3,938 for high-risk insurance.
Price Range by Location
Your location has a significant impact on the price of auto insurance. Rural locations tend to have a lower frequency of physical damage claims than larger metro areas. The diagram below illustrates the effect of geographic area on auto insurance prices.
These examples illustrate why it is important to compare rates using their 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.
Additional Rate Analysis
The chart below illustrates 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 $1,538 each year
- The average rate for a 40-year-old driver who chooses $500 deductibles is $1,804
- Choosing low $100 deductibles for comprehensive and collision insurance will cost an extra $522 a year
- High risk drivers with multiple violations and an at-fault accident could pay around $3,938
- The cost for full coverage for a teen driver can cost $6,674 a year
Auto insurance rates for a Chevrolet Silverado EV can also vary considerably based on your driver profile, the model year and trim level, and physical damage deductibles and liability limits.
Older drivers with a good driving record and high deductibles could pay as little as $1,700 per year on average for full coverage. Rates are highest for teen drivers, where even good drivers will have to pay in the ballpark of $6,600 a year. View Rates by Age
Where you live makes a big difference in Chevrolet Silverado EV insurance rates. A 40-year-old driver could pay as low as $1,180 a year in states like North Carolina, Wisconsin, and Vermont, or 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% |
Choosing high deductibles could save up to $790 each year, while buying higher liability limits will push rates upward. Switching from a 50/100 limit to a 250/500 limit will cost as much as $405 extra every year. View Rates by Deductible or Liability Limit
If you like to drive fast or tend to cause accidents, you are probably paying anywhere from $2,200 to $2,900 in extra premium per year, depending on your age. A high-risk auto insurance policy can cost anywhere from 43% to 136% more than average. View High Risk Driver Rates
| 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 Chevrolet Silverado EV insurance not only requires avoiding accidents and claims, but also having good credit, avoid buying unnecessary coverage, and possibly higher deductibles. Take the time to compare rates every couple of years by obtaining price quotes from direct insurance companies like GEICO and Progressive, and also from your local independent and exclusive agents.
The points below are a recap of the material that was covered in the above illustrations.
- Drivers who purchase increased liability limits will pay about $500 annually to go from a minimum limit to 250/500 limits
- Drivers under the age of 20 have the highest car insurance rates, costing up to $556 per month if they have full coverage
- High-risk drivers that have major violations or accidents may pay on average $2,130 more per year to insure a Chevrolet Silverado EV
- Increasing deductibles can save around $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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