Chevrolet Silverado EV Insurance Rates

Estimated insurance rates for a Chevrolet Silverado EV are $1,814 a year for full coverage. Comprehensive insurance costs around $384 a year, collision insurance costs $810, and liability insurance costs around $440. Liability-only coverage costs as low as $510 a year, and high-risk coverage costs $3,958 or more. Teenage drivers pay the most at up to $6,676 a year.

Average premium for full coverage: $1,814

Premium estimates for type of coverage:

These estimates include $500 physical damage insurance deductibles, bodily injury liability limits of 30/60, and includes medical and uninsured motorist coverage. Rates include averaging for all states and Silverado EV trim levels.

Insurance Price Range by Risk and Coverage

Insurance Price Range by Location

Where you live has a significant impact on auto insurance rates. Areas with sparse population are statistically proven to have a lower frequency of accident claims than densely populated cities. The diagram below illustrates the difference location can make on auto insurance rates.

These rate differences show why it is important to compare prices for a specific zip code and risk profile, rather than relying on average rates.

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

Detailed Rate Analysis

The chart below shows average Chevrolet Silverado EV insurance rates for additional coverage choices and driver risks.

• The best discount rate is $1,018
• Using higher $1,000 deductibles will save about $1,544 a year
• The average rate for a 40-year-old good driver using $500 deductibles is $1,814
• Using low $100 deductibles for physical damage coverage will cost an extra $534 a year
• Drivers who are prone to accidents and violations could pay at least $3,958
• An auto insurance policy for full coverage for a teen driver can be $6,676 or more

View Chart as Image

Insurance prices for a Chevrolet Silverado EV also have a wide range based on your driving characteristics, the trim level of your Silverado EV, and deductibles and policy limits.

Older drivers with a clean driving record and high deductibles could pay as little as $1,700 a year, or $142 per month, for full coverage. Prices are much higher for drivers in their teens, where even good drivers can expect to pay as much as $6,600 a year. View Rates by Age

Where you choose to live has a huge impact on Chevrolet Silverado EV insurance rates. A driver around age 40 might see prices as low as $1,200 a year in states like Idaho, Maine, and Iowa, or be forced to pay as much as $2,590 on average in Michigan, Louisiana, and New York.

View Chart as Image

Using high physical damage deductibles could cut prices by as much as $810 each year, while buying higher liability limits will increase prices. Going from a 50/100 limit to a 250/500 limit will cost up to $396 more per year. View Rates by Deductible or Liability Limit

If you have a few violations or tend to cause accidents, you could be paying at least $2,200 to $2,900 extra annually, depending on your age. A high-risk auto insurance policy can be anywhere from 43% to 135% more than a normal policy. View High Risk Driver Rates

How to Find Cheap Chevrolet Silverado EV Insurance

Finding better rates on Chevrolet Silverado EV insurance requires being a low-risk driver, maintaining good credit, not filing small claims, and dropping full coverage on older vehicles. Make time to compare rates every other policy renewal by getting rate quotes from direct carriers like Progressive, GEICO, and Esurance, and also from local insurance agents.

The items below are a brief summary of the ideas that were touched on in this article.

• Teen drivers pay higher prices, as much as $556 per month for full coverage
• High-risk drivers that tend to have accidents or serious violations may be required to pay an average of $2,140 more every year to insure their Silverado EV
• Increasing policy deductibles can save around $800 each year
• Drivers can save up to $230 per year just by quoting early and online