Chevrolet Silverado Insurance Rates
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UPDATED: Apr 9, 2020
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Chevrolet Silverado car insurance rates amount to $1,484 a year, or around $124 a month on average.
There are a number of factors that ultimately determine Chevy Silverado insurance rates, such as the model year of your pickup. For example, the insurance cost for a 2017 Silverado is more affordable than the newest available model.
Use this in-depth guide to serve as your main point of reference as you explore car insurance for a Chevy Silverado. Once you’re ready, enter your five-digit ZIP code to start comparing Chevrolet Silverado policies from multiple companies.
The average insurance rates for a Chevrolet Silverado are $1,484 a year with full coverage. Comprehensive costs approximately $322 each year, collision costs $562, and liability is $420. A liability-only policy costs around $494 a year, with high-risk insurance costing around $3,198. 16-year-old drivers cost the most to insure at $5,520 a year or more.
Average premium for full coverage: $1,484
Policy rates by type of insurance:
Prices are based on $500 deductibles, 30/60 split liability limits, and includes uninsured motorist coverage. Prices are averaged for all U.S. states and Silverado models.
Price Range Variability
For a driver around age 40, Chevrolet Silverado insurance rates go from as low as $494 for only liability insurance to a high rate of $3,198 for a high-risk insurance policy.
Urban vs. Rural Price Range
Choosing to live in a large city can make a big difference on the price of insurance. Rural locations are shown to have a lower frequency of collision claims than congested cities.
The graphic below illustrates the difference between rural and urban areas on auto insurance prices.
The examples above demonstrate why all drivers should compare rates quotes using their specific location and risk profile, instead of making a decision based 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.
Insurance Rate Analysis
The chart below details estimated Chevrolet Silverado insurance rates for additional coverage and risk scenarios.
- The best full coverage rate is $863
- Raising to $1,000 deductibles will save $200 annually
- The average rate for a good driver age 40 who chooses $500 deductibles is $1,484
- Buying low deductibles will increase the cost to $1,874
- Drivers with multiple tickets or accidents could pay around $3,198 or more
- Policy cost for full coverage for a 16-year-old driver can cost $5,520
Car insurance rates for a Chevrolet Silverado also range considerably based on your risk profile, the trim level and model year, and physical damage deductibles and liability limits.
More mature drivers with no driving violations and high deductibles may pay as low as $1,400 every 12 months on average, or $117 per month, for full coverage. Rates are highest for teenagers, where even good drivers will be charged in the ballpark of $5,500 a year. View Rates by Age
Your home state also has a big influence on Chevrolet Silverado insurance prices. A middle-age driver might find rates as low as $1,070 a year in states like Utah, Ohio, and New Hampshire, or at least $2,000 on average in New York, Michigan, and Florida.
|State||Premium||Compared to U.S. Avg||Percent Difference|
Opting for high physical damage deductibles can reduce rates by up to $590 annually, whereas increasing liability limits will push rates upward. Moving from a 50/100 limit to a 250/500 limit will raise rates by up to $335 extra every 12 months. View Rates by Deductible or Liability Limit
If you have a few points on your driving record or tend to cause accidents, you may be forking out anywhere from $1,700 to $2,400 extra every year, depending on your age. Insurance for high-risk drivers is expensive and can cost from 43% to 128% more than the average rate. View High Risk Driver Rates
Because rates have so much variability, the best way to find out who has the cheapest auto insurance rates is to do a rate comparison from multiple companies. Every auto insurance company utilizes a different rate formula, so rate quotes will be varied from one company to the next.
Insurance Rates by Trim Level and Model Year
|Model and Trim||Annual Premium||Monthly Premium|
|LS Regular Cab 2WD||$1,262||$105|
|LS Regular Cab 4WD||$1,234||$103|
|LS Extended Cab 4WD||$1,356||$113|
|LT Extended Cab 4WD||$1,356||$113|
|LT Regular Cab 2WD||$1,394||$116|
|LT Regular Cab||$1,394||$116|
|LT Extended Cab 2WD||$1,440||$120|
|LS Extended Cab 2WD||$1,440||$120|
|LS Crew Cab 2WD||$1,484||$124|
|LT Crew Cab 4WD||$1,414||$118|
|LS Crew Cab 4WD||$1,414||$118|
|LT Crew Cab 2WD||$1,484||$124|
|LTZ Extended Cab 2WD||$1,530||$128|
|LTZ Extended Cab 4WD||$1,460||$122|
|LTZ Crew Cab 2WD||$1,574||$131|
|LTZ Crew Cab 4WD||$1,504||$125|
|Crew Cab Hybrid 2WD||$1,534||$128|
|Crew Cab Hybrid 4WD||$1,576||$131|
Rates assume 2020 model year, a 40-year-old male driver with no accidents or violations, $500 comprehensive and collision deductibles, minimum liability limits, and uninsured/under-insured motorist coverage included. Rates are for comparison only and are averaged for all 50 U.S. states.
|Model Year||Comprehensive||Collision||Liability||Total Premium|
|2020 Chevrolet Silverado||$322||$562||$420||$1,484|
|2019 Chevrolet Silverado||$306||$542||$440||$1,468|
|2018 Chevrolet Silverado||$294||$536||$450||$1,460|
|2017 Chevrolet Silverado||$284||$524||$470||$1,458|
|2016 Chevrolet Silverado||$274||$502||$486||$1,442|
|2015 Chevrolet Silverado||$260||$484||$500||$1,424|
|2014 Chevrolet Silverado||$250||$450||$510||$1,390|
|2013 Chevrolet Silverado||$240||$424||$514||$1,358|
|2012 Chevrolet Silverado||$230||$380||$520||$1,310|
|2011 Chevrolet Silverado||$214||$350||$520||$1,264|
|2010 Chevrolet Silverado||$206||$328||$524||$1,238|
|2009 Chevrolet Silverado||$202||$306||$534||$1,222|
|2008 Chevrolet Silverado||$186||$284||$534||$1,184|
|2007 Chevrolet Silverado||$182||$258||$540||$1,160|
|2006 Chevrolet Silverado||$170||$236||$534||$1,120|
|2005 Chevrolet Silverado||$160||$214||$534||$1,088|
|2004 Chevrolet Silverado||$154||$192||$530||$1,056|
|2003 Chevrolet Silverado||$152||$188||$520||$1,040|
|2002 Chevrolet Silverado||$150||$178||$510||$1,018|
|2001 Chevrolet Silverado||$138||$170||$504||$992|
Rates are averaged for all Chevrolet Silverado 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 Affordable Chevrolet Silverado Insurance
Finding cheaper rates on insurance for a Chevrolet Silverado consists of being a safe driver, having above-average credit, not filing small claims, and avoiding coverage lapses. Set aside time to compare rates at least every other year by getting rate quotes from direct companies like GEICO, Progressive, and Esurance, and also from several local insurance agents.
Here is a brief review of the car insurance concepts covered above.
- Drivers considered higher risk with DUI or reckless driving convictions pay on average $1,710 more per year for insurance
- You may be able to save around $180 per year simply by quoting online in advance
- Increasing comprehensive and collision deductibles can save around $600 each year
- Insureds who purchase more liability insurance will pay around $460 every year to raise from a 30/60 limit to 250/500 limits
As you can see from the information we’ve gone over to this point, it’s clear that there are differences in costs when it comes to a Chevy Silverado insurance policy. For example, 2019 Chevy Silverado insurance costs are higher than the cost of a 2017 Silverado.
The best way to find out what you might pay is by taking advantage of our free online tool below.
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What are the Chevrolet Silverado safety ratings?
It’s important to consider the Chevy Silverado safety ratings to get a proper understanding of where you might qualify for policy discounts.
Take a look at the safety ratings of the Chevrolet Silverado below so you can see where you might be eligible for policy discounts.
- Small overlap front (driver-side): Good
- Small overlap front (passenger-side): Marginal
- Moderate overlap front: Good
- Side: Good
- Roof strength: Good
- Head restraints and seats: Good
For a frame of reference, the Insurance Institute for Highway Safety. classifies “Good” as the highest rating possible. The Chevy Silverado achieved that mark in every part of the car that was tested with the exception of the small overlap on the passenger’s side of the vehicle.
Chevrolet Silverado Compared Against Other Vehicles in the Same Class
Officially, the Chevrolet Silverado is classified as a large pickup by the Insurance Institute for Highway Safety. Other similar models include the following:
When providing you with a quote, insurance companies will consider the loss percentages of the Chevrolet Silverado as it compares to other similar models in this class.
The good news is that the Chevy Silverado reflects a property damage liability loss percentage of 13 percent and a bodily injury liability loss percentage of 4 percent. Both of these figures are considered standard for this vehicle class.
Now that we have gone into great detail about how Chevy Silverado insurance rates are calculated, is there anything we might have missed? If not, start comparing Chevrolet Silverado quotes from multiple companies through the use of our free online tool.
Rate Tables and Charts
Rates by Driver Age
Full coverage, $500 deductibles
Rates by Deductible
Full coverage, driver age 40
Rates by Liability Limit
Full coverage, driver age 40
Rates for High Risk Drivers
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.
|5-yr Accident Free||$108|
|5-yr Claim Free||$95|
|Paid in Full/EFT||$67|
Discounts are estimated and may not be available from every company or in every state.