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Chevrolet Silverado Insurance Rates

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Jeffrey Johnson graduated summa cum laude from the University of Baltimore School of Law and has worked in legal offices and nonprofits in Maryland, Texas, and North Carolina. He has also earned an MFA in screenwriting from Chapman University and worked in film, education, and publishing...

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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:

Comprehensive $322
Collision $562
Liability $420

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.

Liability Only $494
Full Coverage $1,484
High Risk $3,198

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.

Rural Areas $1,113
Small Cities $1,558
Large Cities $2,003

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

View Chart as Image

Chevrolet Silverado insurance cost comparison chart
Column chart showing full coverage Chevrolet Silverado insurance rates range from $863 to $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.

Chevrolet Silverado Insurance Rates by State
State Premium Compared to U.S. Avg Percent Difference
Alabama $1,340 -$144 -9.7%
Alaska $1,138 -$346 -23.3%
Arizona $1,234 -$250 -16.8%
Arkansas $1,484 -$0 0.0%
California $1,692 $208 14.0%
Colorado $1,418 -$66 -4.4%
Connecticut $1,524 $40 2.7%
Delaware $1,680 $196 13.2%
Florida $1,858 $374 25.2%
Georgia $1,372 -$112 -7.5%
Hawaii $1,064 -$420 -28.3%
Idaho $1,008 -$476 -32.1%
Illinois $1,106 -$378 -25.5%
Indiana $1,120 -$364 -24.5%
Iowa $1,002 -$482 -32.5%
Kansas $1,410 -$74 -5.0%
Kentucky $2,024 $540 36.4%
Louisiana $2,198 $714 48.1%
Maine $918 -$566 -38.1%
Maryland $1,226 -$258 -17.4%
Massachusetts $1,186 -$298 -20.1%
Michigan $2,576 $1,092 73.6%
Minnesota $1,244 -$240 -16.2%
Mississippi $1,780 $296 19.9%
Missouri $1,318 -$166 -11.2%
Montana $1,594 $110 7.4%
Nebraska $1,172 -$312 -21.0%
Nevada $1,780 $296 19.9%
New Hampshire $1,072 -$412 -27.8%
New Jersey $1,660 $176 11.9%
New Mexico $1,312 -$172 -11.6%
New York $1,562 $78 5.3%
North Carolina $856 -$628 -42.3%
North Dakota $1,216 -$268 -18.1%
Ohio $1,024 -$460 -31.0%
Oklahoma $1,524 $40 2.7%
Oregon $1,360 -$124 -8.4%
Pennsylvania $1,414 -$70 -4.7%
Rhode Island $1,980 $496 33.4%
South Carolina $1,348 -$136 -9.2%
South Dakota $1,254 -$230 -15.5%
Tennessee $1,298 -$186 -12.5%
Texas $1,788 $304 20.5%
Utah $1,098 -$386 -26.0%
Vermont $1,016 -$468 -31.5%
Virginia $888 -$596 -40.2%
Washington $1,144 -$340 -22.9%
West Virginia $1,360 -$124 -8.4%
Wisconsin $1,028 -$456 -30.7%
Wyoming $1,322 -$162 -10.9%

View Chart as Image

Chevrolet Silverado insurance rates by U.S. city

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

Chevrolet Silverado Insurance Rates by Model and Trim Level
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.

Chevrolet Silverado Insurance Rates by Model Year
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.

Rates by Driver Age

Chevrolet Silverado Insurance Rates by Driver Age
Driver Age Premium
16 $5,520
20 $3,418
30 $1,548
40 $1,484
50 $1,356
60 $1,330

Full coverage, $500 deductibles

Rates by Deductible

Chevrolet Silverado Insurance Rates with Different Deductibles
Deductible Premium
$100 $1,874
$250 $1,694
$500 $1,484
$1,000 $1,284

Full coverage, driver age 40

Rates by Liability Limit

Chevrolet Silverado Insurance Rates with Different Liability Limits
Liability Limit Premium
30/60 $1,484
50/100 $1,650
100/300 $1,743
250/500 $1,985
100 CSL $1,688
300 CSL $1,892
500 CSL $2,041

Full coverage, driver age 40

Rates for High Risk Drivers

Chevrolet Silverado Insurance Rates for High Risk Drivers
Age Premium
16 $7,868
20 $5,426
30 $3,268
40 $3,198
50 $3,050
60 $3,024

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.

SR-22 Surcharge $203

Potential Rate Discounts

If you qualify for discounts, you may save the amounts shown below.

Discount Savings
Multi-policy $78
Multi-vehicle $76
Homeowner $21
5-yr Accident Free $108
5-yr Claim Free $95
Paid in Full/EFT $67
Advance Quote $72
Online Quote $104
Total Discounts $621
Rate after discounts $863

Discounts are estimated and may not be available from every company or in every state.

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