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 including full coverage. Comprehensive costs around $370 each year, collision costs $804, and liability coverage 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 for individual coverage type:
Rates are based on $500 policy deductibles, 30/60 bodily injury liability limits, and includes additional medical/uninsured motorist coverage. Rates are averaged for all 50 U.S. states and Silverado EV models.
Price Range by Coverage and Risk
Using a middle-aged driver as an example, prices range go from the low end price of $518 for just the minimum liability insurance to a high rate of $3,938 for a driver who requires high-risk insurance.
Price Range by Location
Choosing to live in a large city has a large influence on the price of insurance. Areas with sparse population tend to have lower incidents of comprehensive and collision claims than congested cities.
The graphic below illustrates how where you live affects auto insurance rates.
These examples highlight why all drivers should compare rates quotes for a specific zip code, 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 Analysis
The chart below breaks down estimated Chevrolet Silverado EV insurance rates for additional coverage choices and driver risks.
- The best full coverage rate is $1,011
- Raising to $1,000 deductibles will save about $266 every year
- The estimated price for a 40-year-old driver using $500 deductibles is $1,804
- Buying low deductibles bumps up the cost to $2,326
- Unlucky drivers with multiple tickets or accidents could pay at least $3,938 or more
- The cost that insures a teenage driver can be $6,674
Insurance rates for a Chevrolet Silverado EV can also vary considerably based on the trim level and model year, your driving record and age, and deductibles and policy limits.
If you like to drive fast or you caused an accident, you are likely paying at least $2,200 to $2,900 extra per year, depending on your age. Insurance for high-risk drivers is expensive and can cost around 43% to 136% more than the average rate. View High Risk Driver Rates
More mature drivers with a clean driving record and higher comprehensive and collision deductibles may only pay around $1,700 every 12 months on average for full coverage. Rates are highest for teen drivers, since even teens with perfect driving records can expect to pay as much as $6,600 a year. View Rates by Age
Where you live also has a big influence on Chevrolet Silverado EV insurance rates. A middle-age driver might find rates as low as $1,380 a year in states like Missouri, New Hampshire, and Vermont, or at least $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% |
Opting for high physical damage deductibles can reduce rates by up to $790 a year, whereas increasing liability limits will increase rates. Changing from a 50/100 bodily injury protection limit to a 250/500 limit will cost as much as $405 more per year. View Rates by Deductible or Liability Limit
With so much variability in rates, the best way to figure out your exact price is to do a rate comparison and see how they stack up. 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 Find the Best Cheap Chevrolet Silverado EV Insurance
Saving money on auto insurance consists of being a good driver, having above-average credit, not filing small claims, and insuring your home and auto with the same company. Comparison shop at every other renewal by quoting rates from direct car insurance companies like Progressive, GEICO, and Esurance, and also from local insurance agencies.
The following list is a quick review of the concepts that were touched on in the above illustrations.
- Drivers with a DUI or reckless driving violation may have to pay on average $2,130 more every year than a safer driver
- Drivers age 16 to 20 pay higher rates, as much as $556 per month if full coverage is included
- You may be able to save up to $220 per year simply by quoting online in advance
- Increasing deductibles can save approximately $800 each year
- You may be able to save up to $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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