Chevrolet Volt Insurance Rates

Car insurance can be expensive if you don’t know how to shop around for insurance. You may even think you already have a good rate, but a little shopping may reveal you could save hundreds more on car insurance. If you need to save on your Chevrolet Volt’s car insurance costs, you’ve come to the right place.

Our guide goes over rate changes by area, coverage, safety ratings, and much more, so you can understand how insurers calculate your rates and what to do to save money.

If you want to jump right into comparing average Chevrolet Volt car insurance rates, use our free rate tool by entering your ZIP code.

The average insurance prices for a Chevrolet Volt are $1,326 every 12 months for full coverage insurance. Comprehensive insurance costs around $254, collision insurance costs $440, and liability insurance is $474. Liability-only insurance costs around $522 a year, and high-risk driver insurance costs $2,876 or more. Teen drivers cost the most to insure at up to $5,092 a year.

Average premium for full coverage: $1,326

Policy rates for type of insurance:

Includes $500 policy deductibles, liability coverage up to 30/60, and includes both medical and uninsured motorist insurance. Prices are averaged for all 50 states and for all Volt models.

Price Range Variability

Urban vs. Rural Price Range

Choosing to live in a large city has a significant impact on car insurance rates. Areas with sparse population are shown to have more infrequent physical damage claims than larger metro areas. The example below illustrates how location helps determine auto insurance rates.

The examples above illustrate why everyone should compare rates quotes for a specific zip code and their own driving history, rather than relying on price averages.

Use the form below to get customized rates for your location.

Additional Rate Details

The chart below illustrates average Chevrolet Volt insurance rates for additional coverage choices and driver risks.

• The lowest rate with discounts is $771
• Raising to $1,000 deductibles will save about $158 each year
• The average price for a good driver age 40 using $500 deductibles is $1,326
• Choosing pricier low deductibles costs an extra $306 a year
• Higher-risk drivers with multiple violations and an at-fault accident could pay at least $2,876
• Policy cost to insure a teen driver for full coverage can be $5,092

View Chart as Image

Auto insurance rates for a Chevrolet Volt also range considerably based on liability limits and deductibles, your risk profile, and the trim level and model year.

Choosing high deductibles can reduce rates by up to $470 each year, whereas buying more liability protection will increase rates. Switching from a 50/100 liability limit to a 250/500 limit will raise rates by up to $426 extra every year. View Rates by Deductible or Liability Limit

A more mature driver with a good driving record and higher deductibles could pay as little as $1,200 every 12 months on average, or $100 per month, for full coverage. Rates are highest for teenagers, since even excellent drivers will have to pay as much as $5,000 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 probably paying at least $1,600 to $2,200 in extra premium every year, depending on your age. Chevrolet Volt insurance for high-risk drivers is expensive and can cost anywhere from 43% to 134% more than average. View High Risk Driver Rates

Your home state also has a big influence on Chevrolet Volt insurance rates. A middle-age driver might find rates as low as $870 a year in states like Vermont, Wisconsin, and North Carolina, or as much as $1,790 on average in Michigan, New York, and Florida.

View Chart as Image

How to Shop for the Cheapest Chevrolet Volt Insurance

Finding cheaper rates on Chevrolet Volt insurance consists of being a good driver, having a good credit score, being claim-free, and possibly raising deductibles. Invest time comparing rates every time your policy renews by requesting quotes from direct insurance companies, and also from your local independent and exclusive agents.

The following list is a recap of the information covered in the charts and tables above.

• It is possible to save up to $160 per year just by quoting online well ahead of the renewal date
• Drivers age 16 to 20 are expensive to insure, possibly costing $424 each month if comprehensive and collision insurance is included
• Increasing comprehensive and collision deductibles could save as much as $475 each year
• High-risk drivers that have major violations or accidents may pay on average $1,550 more every year than a safer driver
• Drivers who may need an increased level of liability coverage will pay about $520 annually to raise from a 30/60 limit to a 250/500 level

Just by getting quotes, you can save over $200 a year.

How does the size and class of the Chevrolet Volt affect liability rates?

What does liability insurance cover? Required in most states, this coverage will protect you if you hit another driver by paying for the other driver’s medical bills and property damage costs. Insurers will raise your rates if your vehicle is in a size class that is proven to cause significant damage to other vehicles.

To help you understand how the size and class function in crashes, watch the crash test between a large SUV and a small car.

With liability insurance, it is not how your car fares in a crash that matters to insurers but how other cars will fare around your vehicle. This is why if your car is also shown to be likely to crash (perhaps there is a defect in the car or the car simply has a powerful engine encouraging speeding), insurers will raise your rates.

Because the Chevrolet Volt is a small, four-door car, it likely won’t do much damage to other cars. So unless it is prone to crashing, the liability rates shouldn’t be too bad. To make sure of this, however, we are going to take a look at the Insurance Institute for Highway Safety’s (IIHS) data on insurance losses by vehicle make and model.

• Bodily injury liability loss: -6 percent (average)
• Property damage liability loss: -12 percent (average)

Even though the Chevrolet Volt’s liability losses are average for its size group, the losses are still negative, which is great. Based on these losses, we can assume that the Chevrolet Volt has average insurance rates for liability coverage. To make sure, however, we are going to go over rates in the next section.

What does liability insurance cost for the Chevrolet Volt?

We went ahead and got a sample quote from Geico to show you how much liability insurance will cost and how it can change as you increase your coverage level. Our quote is based on a 40-year-old male driver in Pennsylvania who owns a 2019 Chevrolet Volt, has a bachelor’s degree, travels 13,000 miles a year, and has a clean driving record. Let’s start with the average rates for six months of bodily injury coverage.

• Low ($15,000/$30,000): $40.67
• Medium ($100,000/$200,000): $83.37
• High ($500,000/$500,000): $134.21

It will cost you an average of $43 to upgrade to medium coverage and $94 to upgrade to high coverage. This breaks down to $7 a month or $15 a month. The next set of rates is for property damage liability coverage.

• Low ($5,000): $436.93
• Medium ($20,000): $466.16
• High ($100,000): $487.53

The costs for upgrades for property damage liability coverage are low. It is only $30 more for medium coverage (or $5 a month) and $51 for high coverage (or $8 a month). This means that for both bodily injury and property damage liability, you will pay $12 more a month for medium coverage and $23 more a month for high coverage.

Broken down like this, the costs don’t seem as bad. We highly recommend purchasing at least medium coverage for your vehicle. Not having a high limit of liable coverage leaves you vulnerable to out of pocket costs and legal action.

What are the safety features and ratings of the Chevrolet Volt?

Car manufacturers have come a long way since they produced the first cars, which often didn’t even include seat belts. Today, the importance of safety features is emphasized by car manufacturers, and you should take note of them. The more safety features your car has, the cheaper your insurance rate will be.

AutoBlog.com found that the 2019 Chevrolet Volt has the following standard safety features:

• Crash prevention features include anti-lock brakes and stability control.
• Crash safety features include front-impact airbags, side-impact airbags, overhead airbags, knee airbags, and seatbelt pretensioners.
• Anti-theft protection features include vehicle intrusion alarm and ignition disable device.

The Chevrolet Volt’s multiple airbags offer more protection, which is important as the Chevrolet is a smaller vehicle. However, the base model’s feature list is missing anti-whiplash headrests, which can help prevent neck injuries in a crash. Still, overhead airbags should help protect passengers in case of a rollover.

In addition to safety feature discounts, the crash rating of your vehicle model can help reduce your rates. The IIHS performed crashworthiness tests on the 2015 Chevrolet Volt sedan and hatchback models. Let’s take a look at how these two versions fared.

• Small overlap front (driver-side) crash test: Good (hatchback) and Acceptable (sedan).
• Moderate overlap front: Good (hatchback) and Good (sedan).
• Side: Good (hatchback) and Good (sedan).
• Roof strength: Good (hatchback) and Good (sedan).
• Head restraints and seats: Good (hatchback) and Good (sedan).

Both versions of the 2015 Chevrolet Volt did well, as good is the highest rating and acceptable is the second-highest rating. Because the Chevrolet Volt has such great crashworthiness tests, you should have a lower rate, especially if you have the sedan version (the IIHS awarded the 2015 Chevrolet sedan the top safety pick award for 2015).

However, cars do have more fatalities than SUVs and pickups, so rates may still be a little higher. The IIHS’s 2018 data on driver fatalities per million vehicles recorded the following fatalities: 48 car fatalities, 34 pickup fatalities, and 23 SUV fatalities. For all occupant fatalities, the numbers are as follows: 69 car fatalities, 42 pickup fatalities, and 32 SUV deaths.

The IIHS’s data suggests that pickups and SUVs are safer than cars. However, a more extensive study on crash performance would have to be done to make certain. There is some data on fatalities by crash types for cars, which we’ve included below.

• Frontal Impact: 7,433 fatalities
• Side Impact: 3,568 fatalities
• Rear Impact: 834 fatalities
• Other (mostly rollovers): 1,303 fatalities

There were a total of 13,138 fatalities for cars in 2018, which is very high. To put this number in perspective, in 2018, there were a total of 4,369 pickup fatalities and 5,035 SUV fatalities. Still, the great crash ratings of the Chevrolet Volt will balance out the negativity of higher fatality rates for cars, so you should still get a decent rate.

What is the MSRP of the Chevrolet Volt?

MSRP is an acronym for the manufacturer suggested retail price. This is the value a manufacturer believes its car is worth. Sellers will use the MSRP to create their invoice price, also known as the sticker price. Few people will pay the sticker price or the MSRP price.

Instead, shoppers will often purchase a car at what is known as the fair market price. This is the price you should be looking for when you shop for a vehicle. Watch the video below for a further explanation of these car prices.

Below, you can see Kelley Blue Book’s (KBB) price estimates for a 2019 Chevrolet Volt.

• MSRP: $34,395
• Invoice: $33,121
• Fair Market Range: $30,264 to $33,295
• Fair Purchase Price: $31,780

The fair purchase price is significantly lower than the MSRP and invoice prices. However, insurers don’t really care about the fair purchase price. The price that insurers use to calculate your collision and comprehensive car insurance rates is the MSRP.

The MSRP gives insurers an idea of how much parts will cost for repairs or how much it will cost to replace your car if you total it. If insurers don’t calculate rates properly, they risk a financial loss if you file a claim. This is also why lenders sometimes force people to buy comprehensive and collision car insurance when they sign the car lease.

If lenders don’t use force-placed insurance, they have no guarantee that drivers will carry collision and comprehensive coverage. These two coverages are what protect your lender from financial loss if you are in any of the following types of crashes:

• Collision coverage covers repair costs if you collide with another vehicle or an object like a fence post.
• Comprehensive coverage covers repair costs if natural disasters or bad weather wreck your vehicle. It will also cover damage from animal collisions, vandalism, and theft.

Both lenders and insurers will use the loss history (claims paid) on your vehicle to help determine rates for these two coverages. Insurers are well aware of what the best and worst vehicles are for overall collision losses. If your vehicle has poor losses, you will pay more.

While the IIHS listed great losses for comprehensive coverage, collision coverage losses were only average.

• Chevrolet Volt Collision Losses: -6 percent (average)
• Chevrolet Volt Comprehensive Losses: -32 percent (substantially better than average)

Since the Chevrolet Volt’s losses are decent, you shouldn’t have a very high rate for car insurance.

How much will it cost to repair my Chevrolet Volt?

If you have a deductible, you will have to pay for some of the repairs yourself until insurance steps in. For example, if you have a $500 deductible and are in an accident, you will have to pay $500 towards accident costs before your insurer will pay the rest. This is why it’s important to pick a deductible that you can pay.

Insurers, however, are concerned with the costs of repair, not what your deductible is. After all, your deductible is what you’ll have to pay. The costs of repair are what your insurer will have to pay to get you back on the road.

On RepairPal.com, the Chevrolet Volt’s alternative fuel average annual repair costs are estimated to be $550. This price estimate includes regular maintenance, such as inspections and oil changes. While the Chevrolet Volt’s average repair costs are less than repair costs for all vehicles ($652), it is still more expensive than repair costs for alternative fuel vehicles ($471).

Still, RepairPal.com gave the Chevrolet Volt a reliability rating of four out of five stars. This is great, as it means the Chevrolet Volt is more reliable than other vehicles. This means fewer breakdowns and unscheduled trips to the repair shop.

Our hope is that our guide to the Chevrolet Volt’s rates has given you the tools you need to find cheap car insurance. By understanding the basics of what determines the price of car insurance and shopping around, you can save hundreds every year. Want to start comparison shopping for Chevrolet Volt insurance costs right away? Use our free tool to start comparing rates.