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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The average insurance prices for a Chevrolet Silverado EV are $1,804 every 12 months including full coverage. Comprehensive insurance costs on average $370, collision costs $804, and liability is $450. Buying just liability costs around $518 a year, with insurance for high-risk drivers costing $3,938 or more. Teen drivers cost the most to insure at $6,674 a year or more.
Average premium for full coverage: $1,804
Policy rates by type of insurance:
Prices include $500 deductible amounts, 30/60 split liability limits, and includes medical and uninsured motorist coverage. Prices are averaged for all 50 U.S. states and for all Silverado EV models.
Price Range Variability
Using a middle-aged driver as an example, Chevrolet Silverado EV insurance rates go from the cheapest price of $518 for just liability coverage to the much higher price of $3,938 for a high-risk insurance policy.
Urban vs. Rural Price Range
Choosing to live in a large city can make a big difference on car insurance rates. Rural areas are shown to have more infrequent comprehensive and collision claims than larger metro areas.
The example below illustrates how where you live affects car insurance rates.
The examples above highlight why everyone should compare rates quotes based on a specific location and their own driving history, instead of making a decision based 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.
Detailed Rate Analysis
The chart below breaks down estimated Chevrolet Silverado EV insurance rates for different risk profiles and scenarios.
- The lowest rate with discounts is $1,011
- Raising to $1,000 deductibles will save around $266 every year
- The average price for a good driver age 40 with $500 deductibles is $1,804
- Choosing pricier low deductibles costs an extra $522 annually
- Drivers with multiple violations and an at-fault accident could pay upwards of $3,938 or more
- Policy cost to insure a 16-year-old driver for full coverage may cost $6,674
Insurance rates for a Chevrolet Silverado EV also range considerably based on liability limits and deductibles, your driving characteristics, and the trim level of your Silverado EV.
Choosing high deductibles can reduce rates by up to $790 annually, whereas buying more liability protection will cost you more. Changing from a 50/100 liability limit to a 250/500 limit will raise rates by up to $405 more per year. View Rates by Deductible or Liability Limit
A more mature driver with a clean driving record and higher deductibles may pay as low as $1,700 every 12 months on average, or $142 per month, for full coverage. Rates are highest for teenagers, since even excellent drivers can expect to pay upwards of $6,600 a year. View Rates by Age
If you have a few points on your driving record or you were responsible for an accident, you are likely paying at a minimum $2,200 to $2,900 extra every year, depending on your age. Chevrolet Silverado EV insurance for high-risk drivers is expensive and can cost from 43% to 136% more than average. View High Risk Driver Rates
Your home state also has a big influence on Chevrolet Silverado EV insurance prices. A middle-age driver might find rates as low as $1,380 a year in states like Missouri, New Hampshire, and Vermont, or as much as $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% |
Because rates have so much variability, the best way to figure out exactly what you will pay is to regularly compare rates from multiple companies. Every auto insurance company uses a different rate calculation, so the rates will be varied.
| 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 the Right Chevrolet Silverado EV Insurance
Finding cheaper rates on insurance for a Chevrolet Silverado EV consists of having a good driving record, having good credit, paying for small claims out-of-pocket, and bundling your home and auto policies. Take the time to comparison shop at least every other year by requesting rates from direct car insurance companies, and also from your local independent and exclusive agents.
The next list is a quick rundown of the car insurance concepts touched on in the above illustrations.
- Drivers considered higher risk with reckless driving or DUI convictions may pay on average $2,130 more each year to buy Chevrolet Silverado EV insurance
- You may be able to save as much as $220 per year simply by quoting online well ahead of the renewal date
- Increasing comprehensive and collision deductibles could save as much as $800 each year
- Insureds who require increased levels of liability coverage will pay about $500 per year to raise from a 30/60 limit to a 250/500 level
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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