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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The average insurance rates for a Chevrolet Silverado EV are $1,804 a year with full coverage. Comprehensive insurance costs an estimated $370 a year, collision costs $804, and liability coverage is $450. Buying just liability costs around $518 a year, with insurance for high-risk drivers costing $3,938 or more. 16-year-old drivers cost the most to insure at $6,674 a year or more.
Average premium for full coverage: $1,804
Policy rates broken down by type of insurance:
Rate estimates include $500 physical damage deductibles, bodily injury liability limits of 30/60, and includes both medical and uninsured motorist insurance. Prices are averaged for all U.S. states and Silverado EV trim levels.
Price Range Variability
For the average driver, Chevrolet Silverado EV insurance rates go from as low as $518 for minimum levels of liability insurance to a high of $3,938 for a driver who has had serious violations or accidents.
Urban vs. Rural Price Range
Choosing to live in a large city has a large influence on car insurance rates. More rural locations are shown to have a lower frequency of collision claims than congested cities.
The diagram below illustrates how location impacts insurance prices.
The examples above demonstrate why it is important to compare rates quotes for a targeted area and risk profile, rather than using 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 Details
The chart below details 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 annually
- The average rate for a good driver age 40 who has $500 deductibles is $1,804
- Buying low $100 deductibles will cost an extra $522 each year
- Unlucky drivers with multiple tickets or accidents could pay up to $3,938 or more
- Policy cost for full coverage for a teenage driver can cost as much as $6,674
Insurance rates for a Chevrolet Silverado EV also range considerably based on your risk profile, the trim level and model year, and liability limits and deductibles.
Older drivers with a clean driving record and high deductibles may only pay around $1,700 every 12 months on average, or $142 per month, for full coverage. Rates are highest for teenagers, where even good drivers can expect to pay at least $6,600 a year. View Rates by Age
Your home state also has a big influence on Chevrolet Silverado EV insurance rates. A middle-age driver might find rates as low as $1,300 a year in states like Utah, Ohio, and New Hampshire, or at least $2,430 on average in New York, Michigan, and Florida.
| 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% |
Opting for high physical damage deductibles can reduce rates by up to $790 a year, while buying higher liability limits will increase premiums. Moving from a 50/100 limit to a 250/500 limit will raise rates by up to $405 more per year. View Rates by Deductible or Liability Limit
If you have a few points on your driving record or tend to cause accidents, you may be forking out $2,200 to $2,900 extra every year, depending on your age. A high-risk auto insurance policy is expensive and can cost around 43% to 136% more than the average rate. View High Risk Driver Rates
Because rates have so much variability, the best way to find out which auto insurance is cheapest is to get quotes and see how they stack up. Every auto insurance company utilizes a different rate formula, so the rates will be varied from one company to the next.
| 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 Best Chevrolet Silverado EV Insurance
Finding cheaper rates on auto insurance consists of being a safe and courteous driver, maintaining good credit, not filing small claims, and taking advantage of discounts. Spend time shopping around every other policy renewal by quoting rates from direct companies like GEICO, Progressive, and Esurance, and also from local exclusive and independent agents.
Below is a brief recap of the ideas that were touched on above.
- Teenage drivers are charged the highest rates, as much as $556 each month for full coverage
- Drivers who tend to receive serious violations may pay on average $2,130 more annually for auto insurance
- Increasing comprehensive and collision deductibles can save around $800 each year
- You may be able to save approximately $220 per year simply by quoting early and online
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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