Chevrolet Silverado EV Insurance Rates
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UPDATED: Mar 28, 2024
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U.S. average insurance rates for a Chevrolet Silverado EV are $1,848 a year for full coverage insurance. Comprehensive insurance costs approximately $404 each year, collision costs $844, and liability insurance is $420. A policy with just liability insurance costs around $494 a year, with coverage for high-risk drivers costing $4,022 or more. 16-year-old drivers pay the highest rates at $6,736 a year or more.
Average premium for full coverage: $1,848
Price estimates by individual coverage:
Price estimates include $500 comprehensive and collision deductibles, liability coverage up to 30/60, and includes both medical and UM/UIM coverage. Estimates are averaged for all 50 states and Silverado EV models.
Price Range from Low to High
For a 40-year-old driver, Chevrolet Silverado EV insurance prices go from the low end price of $494 for basic liability insurance to a high rate of $4,022 for a high-risk driver policy.
Geographic Price Range
Choosing to live in a large city has a significant impact on the price of auto insurance. Rural locations have lower incidents of physical damage claims than congested cities.
The graphic below illustrates how your location can change auto insurance prices.
The ranges above illustrate why all drivers should compare rates quotes using their 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.
Rate Comparisons
The chart below illustrates estimated Chevrolet Silverado EV insurance rates for additional coverage and risk scenarios.
- The best full coverage rate is $1,036
- Raising to $1,000 deductibles will save $284 each year
- The estimated price for the average middle-age driver who chooses $500 deductibles is $1,848
- Buying low deductibles will cost an additional $554 a year
- Higher-risk drivers with multiple tickets or accidents could pay around $4,022 or more
- The price that insures a teen driver can cost $6,736
Insurance prices for a Chevrolet Silverado EV are also quite variable based on the trim level and model year, your age and driving record, and physical damage deductibles and liability limits.
If you have some driving violations or you caused an accident, you are probably paying anywhere from $2,200 to $3,000 extra each year, depending on your age. Insurance for high-risk drivers is expensive and can cost anywhere from 45% to 133% more than the average rate. View High Risk Driver Rates
More mature drivers with a clean driving record and higher comprehensive and collision deductibles could pay as little as $1,700 every 12 months on average for full coverage. Prices are highest for teenage drivers, since even teens with perfect driving records can expect to pay in the ballpark of $6,700 a year. View Rates by Age
The state you live in also has a big influence on Chevrolet Silverado EV insurance rates. A middle-age driver might find prices as low as $1,210 a year in states like North Carolina, Wisconsin, and Vermont, or at least $2,490 on average in Florida, New York, and Michigan.
| State | Premium | Compared to U.S. Avg | Percent Difference |
|---|---|---|---|
| Alabama | $1,668 | -$180 | -9.7% |
| Alaska | $1,416 | -$432 | -23.4% |
| Arizona | $1,536 | -$312 | -16.9% |
| Arkansas | $1,848 | -$0 | 0.0% |
| California | $2,106 | $258 | 14.0% |
| Colorado | $1,764 | -$84 | -4.5% |
| Connecticut | $1,896 | $48 | 2.6% |
| Delaware | $2,090 | $242 | 13.1% |
| Florida | $2,310 | $462 | 25.0% |
| Georgia | $1,704 | -$144 | -7.8% |
| Hawaii | $1,326 | -$522 | -28.2% |
| Idaho | $1,254 | -$594 | -32.1% |
| Illinois | $1,374 | -$474 | -25.6% |
| Indiana | $1,394 | -$454 | -24.6% |
| Iowa | $1,246 | -$602 | -32.6% |
| Kansas | $1,754 | -$94 | -5.1% |
| Kentucky | $2,518 | $670 | 36.3% |
| Louisiana | $2,734 | $886 | 47.9% |
| Maine | $1,142 | -$706 | -38.2% |
| Maryland | $1,526 | -$322 | -17.4% |
| Massachusetts | $1,474 | -$374 | -20.2% |
| Michigan | $3,206 | $1,358 | 73.5% |
| Minnesota | $1,546 | -$302 | -16.3% |
| Mississippi | $2,214 | $366 | 19.8% |
| Missouri | $1,638 | -$210 | -11.4% |
| Montana | $1,984 | $136 | 7.4% |
| Nebraska | $1,456 | -$392 | -21.2% |
| Nevada | $2,216 | $368 | 19.9% |
| New Hampshire | $1,332 | -$516 | -27.9% |
| New Jersey | $2,066 | $218 | 11.8% |
| New Mexico | $1,634 | -$214 | -11.6% |
| New York | $1,946 | $98 | 5.3% |
| North Carolina | $1,064 | -$784 | -42.4% |
| North Dakota | $1,512 | -$336 | -18.2% |
| Ohio | $1,274 | -$574 | -31.1% |
| Oklahoma | $1,896 | $48 | 2.6% |
| Oregon | $1,692 | -$156 | -8.4% |
| Pennsylvania | $1,762 | -$86 | -4.7% |
| Rhode Island | $2,464 | $616 | 33.3% |
| South Carolina | $1,676 | -$172 | -9.3% |
| South Dakota | $1,560 | -$288 | -15.6% |
| Tennessee | $1,616 | -$232 | -12.6% |
| Texas | $2,224 | $376 | 20.3% |
| Utah | $1,366 | -$482 | -26.1% |
| Vermont | $1,264 | -$584 | -31.6% |
| Virginia | $1,106 | -$742 | -40.2% |
| Washington | $1,424 | -$424 | -22.9% |
| West Virginia | $1,694 | -$154 | -8.3% |
| Wisconsin | $1,280 | -$568 | -30.7% |
| Wyoming | $1,644 | -$204 | -11.0% |
Opting for high physical damage deductibles can reduce prices by up to $840 each year, whereas increasing liability limits will push prices upward. Switching from a 50/100 bodily injury protection limit to a 250/500 limit will increase prices by as much as $378 more per year. View Rates by Deductible or Liability Limit
Since prices can be so different, the only way to figure out who has the best car insurance prices is to do a rate comparison from as many companies as possible. Every auto insurance company utilizes a different rate formula, so the prices may be quite different.
| Model Year | Comprehensive | Collision | Liability | Total Premium |
|---|---|---|---|---|
| 2024 Chevrolet Silverado EV | $404 | $844 | $420 | $1,848 |
| 2023 Chevrolet Silverado EV | $384 | $810 | $440 | $1,814 |
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 Cheaper Chevrolet Silverado EV Insurance
Getting lower rates on Chevrolet Silverado EV insurance consists of avoiding accidents and violations, having above-average credit, not filing small claims, and maximizing policy discounts. Comparison shop every time your policy renews by getting quotes from direct insurance companies, and also from your local car insurance providers.
The list below is a condensed summary of the information illustrated above.
- It is possible to save around $230 per year simply by quoting online in advance
- Teenagers are expensive to insure, as much as $561 a month if full coverage is included
- Increasing physical damage deductibles can save approximately $850 each year
- High-risk drivers with multiple at-fault accidents could be charged and average of $2,170 more per year for car insurance
- Drivers who purchase higher liability limits will pay around $460 annually to raise from a low limit to the 250/500 level
Rate Tables and Charts
Rates by Driver Age
| Driver Age | Premium |
|---|---|
| 16 | $6,736 |
| 20 | $4,306 |
| 30 | $1,942 |
| 40 | $1,848 |
| 50 | $1,686 |
| 60 | $1,656 |
Full coverage, $500 deductibles
Rates by Deductible
| Deductible | Premium |
|---|---|
| $100 | $2,402 |
| $250 | $2,142 |
| $500 | $1,848 |
| $1,000 | $1,564 |
Full coverage, driver age 40
Rates by Liability Limit
| Liability Limit | Premium |
|---|---|
| 30/60 | $1,848 |
| 50/100 | $1,932 |
| 100/300 | $2,037 |
| 250/500 | $2,310 |
| 100 CSL | $1,974 |
| 300 CSL | $2,205 |
| 500 CSL | $2,373 |
Full coverage, driver age 40
Rates for High Risk Drivers
| Age | Premium |
|---|---|
| 16 | $9,670 |
| 20 | $6,852 |
| 30 | $4,130 |
| 40 | $4,022 |
| 50 | $3,836 |
| 60 | $3,808 |
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 | $100 |
| Multi-vehicle | $97 |
| Homeowner | $25 |
| 5-yr Accident Free | $147 |
| 5-yr Claim Free | $121 |
| Paid in Full/EFT | $92 |
| Advance Quote | $97 |
| Online Quote | $133 |
| Total Discounts | $812 |
Discounts are estimated and may not be available from every company or in every state.
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