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 prices for a Chevrolet Silverado EV are $1,804 every 12 months for full coverage. Comprehensive costs an estimated $370 a year, collision costs $804, and liability insurance is $450. A liability-only policy costs around $518 a year, with high-risk insurance costing around $3,938. 16-year-old drivers receive the highest rates at $6,674 a year or more.
Average premium for full coverage: $1,804
Rate estimates broken down by individual coverage type:
Prices are based on $500 policy deductibles, split liability limits of 30/60, and includes additional medical/uninsured motorist coverage. Rates are averaged for all states and Silverado EV trim levels.
Price Range by Coverage and Risk
For a driver around age 40, prices range go from the cheapest price of $518 for just the minimum liability insurance to a high of $3,938 for coverage for higher-risk drivers.
Price Range by Location
Choosing to live in a large city has a significant impact on insurance rates. More rural locations tend to have more infrequent accident claims than congested cities.
The diagram below illustrates the difference between rural and urban areas on insurance prices.
These examples show why it is important to compare rates quotes for a targeted area and their own driving history, rather than relying on rate 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 shows estimated Chevrolet Silverado EV insurance rates for other coverage scenarios.
- The best full coverage rate is $1,011
- Raising to $1,000 deductibles will save approximately $1,538 a year
- The average price for a 40-year-old driver who has $500 deductibles is $1,804
- Buying low $100 deductibles increases the price to $2,326
- Higher-risk drivers with multiple tickets or accidents could pay up to $3,938 or more
- The cost to insure a teen driver can cost as much as $6,674
Insurance rates for a Chevrolet Silverado EV can also vary considerably based on policy deductibles and limits, your driver profile, and the model year and trim level.
Opting for high physical damage deductibles can reduce rates by up to $790 each year, while buying higher liability limits will increase premiums. Going from a 50/100 liability limit to a 250/500 limit will cost as much as $405 more per year. View Rates by Deductible or Liability Limit
Older drivers with a clean driving record and higher deductibles could pay as little as $1,700 every 12 months on average for full coverage. Rates are highest for teen drivers, since even excellent drivers can expect to pay at least $6,600 a year. View Rates by Age
If you like to drive fast or you were responsible for an accident, you could be paying $2,200 to $2,900 extra per year, depending on your age. A high-risk auto insurance policy is expensive and can cost anywhere from 43% to 136% more than the average rate. View High Risk Driver Rates
Where you live also has a big influence on Chevrolet Silverado EV insurance rates. A middle-age driver might find rates as low as $1,190 a year in states like Iowa, Maine, and Idaho, or at least $2,570 on average in New York, Louisiana, 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 so much variability in rates, the only way to know which company is cheapest is to get quotes from as many companies as possible. Every auto insurance company utilizes a different rate formula, so the rates can be significantly 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
Saving money on Chevrolet Silverado EV insurance consists of being safe and accident-free, having good credit, eliminating unneeded coverage, and taking advantage of discounts. Set aside time to compare rates at least once a year by quoting rates from direct carriers like GEICO, Progressive, and Esurance, and also from several local insurance agents.
Below you'll find a brief review of the primary concepts that were covered above.
- Drivers can save approximately $220 per year simply by quoting early and online
- High-risk drivers with DUI or reckless driving convictions pay on average $2,130 more annually than a low-risk driver
- Increasing deductibles could save as much as $800 each year
- Youthful drivers are charged the highest rates, costing as high as $556 per month if they have full coverage
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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