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 auto insurance rates for a Chevrolet Silverado EV are $1,804 annually for full coverage insurance. Comprehensive costs on average $370 each year, collision costs $804, and liability insurance costs $450. Liability-only coverage costs as little as $518 a year, with high-risk coverage costing around $3,938. Teenage drivers receive the highest rates at $6,674 a year or more.
Average premium for full coverage: $1,804
Rate estimates by individual coverage type:
Includes $500 deductible amounts, 30/60 liability coverage, and includes additional medical/uninsured motorist coverage. Rates are averaged for all 50 states and Silverado EV models.
Price Range by Coverage and Risk
Using a middle-aged driver as an example, prices range go from as cheap as $518 for just the minimum liability insurance to a high rate of $3,938 for a policy for a high-risk driver.
Price Range by Location
Your location has a significant impact on insurance rates. Rural areas tend to have fewer physical damage claims than densely populated cities.
The graphic below illustrates how where you live affects car insurance rates.
These examples illustrate why all drivers should compare rates based on a specific location and their own personal driving habits, rather than relying 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.
Additional Rate Analysis
The chart below illustrates estimated Chevrolet Silverado EV insurance rates for different risk profiles and scenarios.
- The best discount rate is $1,011
- Drivers who choose higher $1,000 deductibles will pay around $266 each year
- The estimated rate for a 40-year-old driver with $500 deductibles is $1,804
- Using low deductibles for comprehensive and collision insurance will cost $2,326
- High risk drivers who are prone to accidents and violations could pay upwards of $3,938 or more
- The cost with full coverage for a teen driver may cost $6,674 a year
Car insurance rates for a Chevrolet Silverado EV can also vary considerably based on the trim level of your Silverado EV, your risk profile, and policy deductibles and limits.
More mature drivers with no driving violations and high physical damage deductibles could pay as little as $1,700 per year on average for full coverage. Rates are much higher for teen drivers, where even without any violations or accidents they will be charged upwards of $6,600 a year. View Rates by Age
If you like to drive fast or you caused a few accidents, you are probably paying at a minimum $2,200 to $2,900 extra per year, depending on your age. Insurance for high-risk drivers can cost anywhere from 43% to 136% more than a normal policy. View High Risk Driver Rates
Using high physical damage deductibles could save up to $790 each year, whereas increasing liability limits will cost you more. Switching from a 50/100 bodily injury limit to a 250/500 limit will cost as much as $405 extra every 12 months. View Rates by Deductible or Liability Limit
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 Vermont, Wisconsin, and North Carolina, or be forced to pay as much as $2,430 on average in Michigan, New York, 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% |
With so much variability in rates, the only way to figure out exactly what you will pay is to do a rate comparison from as many companies as possible. Every company uses a different method to calculate rates, so rate quotes can be significantly different between companies.
| 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 the Cheapest Chevrolet Silverado EV Insurance
Saving money on Chevrolet Silverado EV insurance not only requires having a good driving record, but also having a good credit score, avoid buying unnecessary coverage, and maximizing policy discounts. Take the time to comparison shop every year by getting quotes from direct insurance companies like Progressive and GEICO, and also from local exclusive and independent agents.
The next list is a recap of the coverage data touched on in the above illustrations.
- It is possible to save as much as $220 per year simply by quoting online in advance
- Increasing deductibles could save up to $800 each year
- Drivers age 20 and younger are expensive to insure, costing up to $556 per month if comprehensive and collision insurance is included
- High-risk drivers that have major violations or accidents may pay on average $2,130 more each year to buy Chevrolet Silverado EV insurance
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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