Chevrolet Silverado EV Insurance Rates
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UPDATED: Mar 28, 2024
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Average insurance rates for a Chevrolet Silverado EV are $1,814 a year including full coverage. Comprehensive insurance costs on average $384 a year, collision costs $810, and liability insurance is $440. A policy with just liability insurance costs around $510 a year, with coverage for high-risk drivers costing $3,958 or more. 16-year-old drivers receive the highest rates at $6,676 a year or more.
Average premium for full coverage: $1,814
Rate estimates by individual coverage type:
Estimates include $500 deductibles, liability limits of 30/60, and includes medical and UM/UIM coverage. Rates are averaged for all 50 U.S. states and Silverado EV trim levels.
Price Range by Coverage and Risk
For a driver in their 40's, prices range go from the low end price of $510 for just liability insurance to a high of $3,958 for a driver that may need high-risk insurance.
Price Range by Location
Choosing to live in a large city has a significant impact on car insurance rates. Rural areas tend to have lower incidents of comprehensive and collision claims than congested cities.
The diagram below illustrates how location helps determine car insurance rates.
These examples highlight why it is important to compare rates quotes based on a specific location, 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.
More Rate Details
The chart below breaks down estimated Chevrolet Silverado EV insurance rates for different risk profiles and scenarios.
- The best full coverage rate is $1,018
- Raising to $1,000 deductibles will save around $1,544 every year
- The estimated price for a 40-year-old driver with $500 deductibles is $1,814
- Buying low $100 deductibles will cost an additional $534 a year
- Higher-risk drivers with multiple tickets or accidents could pay upwards of $3,958 or more
- The cost that insures a teen driver may cost $6,676
Insurance rates for a Chevrolet Silverado EV can also vary considerably based on the trim level of your Silverado EV, your driving record and age, and policy deductibles and limits.
If you like to drive fast or you caused an accident, you are likely paying at a minimum $2,200 to $2,900 additional per year, depending on your age. A high-risk auto insurance policy is expensive and can cost anywhere from 43% to 135% more than the average rate. View High Risk Driver Rates
Older drivers with no violations or accidents and higher comprehensive and collision deductibles could pay as little as $1,700 every 12 months on average for full coverage. Rates are highest for teen drivers, since even teens with perfect driving records should be prepared to pay upwards of $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 $1,390 a year in states like Missouri, New Hampshire, and Vermont, or at least $2,590 on average in Michigan, New York, and Louisiana.
| State | Premium | Compared to U.S. Avg | Percent Difference |
|---|---|---|---|
| Alabama | $1,640 | -$174 | -9.6% |
| Alaska | $1,394 | -$420 | -23.2% |
| Arizona | $1,508 | -$306 | -16.9% |
| Arkansas | $1,814 | -$0 | 0.0% |
| California | $2,068 | $254 | 14.0% |
| Colorado | $1,732 | -$82 | -4.5% |
| Connecticut | $1,864 | $50 | 2.8% |
| Delaware | $2,054 | $240 | 13.2% |
| Florida | $2,270 | $456 | 25.1% |
| Georgia | $1,676 | -$138 | -7.6% |
| Hawaii | $1,302 | -$512 | -28.2% |
| Idaho | $1,230 | -$584 | -32.2% |
| Illinois | $1,350 | -$464 | -25.6% |
| Indiana | $1,370 | -$444 | -24.5% |
| Iowa | $1,226 | -$588 | -32.4% |
| Kansas | $1,724 | -$90 | -5.0% |
| Kentucky | $2,476 | $662 | 36.5% |
| Louisiana | $2,688 | $874 | 48.2% |
| Maine | $1,122 | -$692 | -38.1% |
| Maryland | $1,498 | -$316 | -17.4% |
| Massachusetts | $1,450 | -$364 | -20.1% |
| Michigan | $3,152 | $1,338 | 73.8% |
| Minnesota | $1,518 | -$296 | -16.3% |
| Mississippi | $2,176 | $362 | 20.0% |
| Missouri | $1,612 | -$202 | -11.1% |
| Montana | $1,952 | $138 | 7.6% |
| Nebraska | $1,432 | -$382 | -21.1% |
| Nevada | $2,178 | $364 | 20.1% |
| New Hampshire | $1,310 | -$504 | -27.8% |
| New Jersey | $2,030 | $216 | 11.9% |
| New Mexico | $1,606 | -$208 | -11.5% |
| New York | $1,914 | $100 | 5.5% |
| North Carolina | $1,046 | -$768 | -42.3% |
| North Dakota | $1,488 | -$326 | -18.0% |
| Ohio | $1,254 | -$560 | -30.9% |
| Oklahoma | $1,864 | $50 | 2.8% |
| Oregon | $1,662 | -$152 | -8.4% |
| Pennsylvania | $1,730 | -$84 | -4.6% |
| Rhode Island | $2,422 | $608 | 33.5% |
| South Carolina | $1,644 | -$170 | -9.4% |
| South Dakota | $1,532 | -$282 | -15.5% |
| Tennessee | $1,588 | -$226 | -12.5% |
| Texas | $2,186 | $372 | 20.5% |
| Utah | $1,342 | -$472 | -26.0% |
| Vermont | $1,244 | -$570 | -31.4% |
| Virginia | $1,086 | -$728 | -40.1% |
| Washington | $1,402 | -$412 | -22.7% |
| West Virginia | $1,666 | -$148 | -8.2% |
| Wisconsin | $1,254 | -$560 | -30.9% |
| Wyoming | $1,616 | -$198 | -10.9% |
Opting for high physical damage deductibles can reduce rates by up to $810 each year, while buying higher liability limits will cost you more. Changing from a 50/100 bodily injury protection limit to a 250/500 limit will cost as much as $396 more each year. View Rates by Deductible or Liability Limit
With so much variability in rates, the best way to figure out exactly what you will pay is to get quotes from as many companies as possible. Every auto insurance company utilizes a different rate formula, and rates can be significantly different.
| Model Year | Comprehensive | Collision | Liability | Total Premium |
|---|---|---|---|---|
| 2024 Chevrolet Silverado EV | $384 | $810 | $440 | $1,814 |
| 2023 Chevrolet Silverado EV | $370 | $804 | $450 | $1,804 |
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 Low Cost Chevrolet Silverado EV Insurance
Saving money on Chevrolet Silverado EV insurance consists of not taking risks behind the wheel, having a good credit score, not filing small claims, and insuring your home and auto with the same company. Comparison shop once a year by getting rate quotes from direct car insurance companies like Progressive, GEICO, and Esurance, and also from insurance agencies where you live.
The following is a review of the data that was covered in the charts and tables above.
- You may be able to save as much as $230 per year simply by quoting early and online
- Drivers who require higher liability limits will pay around $480 per year to raise from a minimum limit to the 250/500 level
- Teens pay higher rates, as much as $556 per month if comprehensive and collision insurance is included
- High-risk drivers who have several accidents or serious violations could be forced to pay on average $2,140 more each year for Silverado EV insurance
Rate Tables and Charts
Rates by Driver Age
| Driver Age | Premium |
|---|---|
| 16 | $6,676 |
| 20 | $4,236 |
| 30 | $1,908 |
| 40 | $1,814 |
| 50 | $1,656 |
| 60 | $1,628 |
Full coverage, $500 deductibles
Rates by Deductible
| Deductible | Premium |
|---|---|
| $100 | $2,348 |
| $250 | $2,100 |
| $500 | $1,814 |
| $1,000 | $1,544 |
Full coverage, driver age 40
Rates by Liability Limit
| Liability Limit | Premium |
|---|---|
| 30/60 | $1,814 |
| 50/100 | $1,902 |
| 100/300 | $2,012 |
| 250/500 | $2,298 |
| 100 CSL | $1,946 |
| 300 CSL | $2,188 |
| 500 CSL | $2,364 |
Full coverage, driver age 40
Rates for High Risk Drivers
| Age | Premium |
|---|---|
| 16 | $9,576 |
| 20 | $6,746 |
| 30 | $4,058 |
| 40 | $3,958 |
| 50 | $3,776 |
| 60 | $3,746 |
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 | $98 |
| Multi-vehicle | $96 |
| Homeowner | $25 |
| 5-yr Accident Free | $143 |
| 5-yr Claim Free | $119 |
| Paid in Full/EFT | $90 |
| Advance Quote | $94 |
| Online Quote | $131 |
| Total Discounts | $796 |
Discounts are estimated and may not be available from every company or in every state.
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