Chevy Silverado auto insurance cost for 2023

How much does Chevy Silverado auto insurance cost?

On average, insuring a Chevy Silverado costs $1,637 annually in Oregon, which amounts to about $137 per month. When compared to the average rate of $1,655 for half-ton pickup trucks, the Silverado comes out slightly cheaper, with an expected yearly saving of $18. Of course, the actual cost of insuring a Silverado will depend on the specific configuration of the vehicle.

To give you a better idea of how insurance costs for the 2022 Chevy Silverado can vary, the chart below shows average rates based on different age groups and policy deductibles. Keep in mind that your own insurance costs may differ depending on a variety of factors, including your driving history and location.

It’s important to note that the cost of car insurance can vary significantly based on various factors. For instance, in some of the cheapest areas of Vermont or Ohio, a Chevy Silverado auto insurance policy with only liability coverage can be as low as $254 per year.

However, the same model of the Chevy Silverado, driven by a teenager with a history of accidents and driving violations, in Philadelphia, Pennsylvania, could receive a car insurance bill for as much as $13,655 per year for a policy with an annual premium for full coverage.

These examples demonstrate the wide range of car insurance costs that can exist based on different variables such as location, age, driving history, and policy coverage. It’s always a good idea to research and compare different insurance providers and policies to find the best coverage and rates for your individual needs.

What is the cheapest Silverado insurance?

If you’re in the market for a Chevrolet Silverado and want to keep your insurance costs low, it’s worth considering which configurations have the cheapest insurance rates. According to data, the three cheapest Silverado models to insure are the WT Regular Cab Four Wheel Drive, the WT Double Cab Four Wheel Drive, and the WT Regular Cab 2WD, with average annual rates of $1,446, $1,505, and $1,500, respectively. This translates to an average monthly cost of about $120 in Oregon.

On the other hand, the most expensive configurations to insure are the Chevrolet Silverado LTZ Crew Cab Four Wheel Drive, the LT Crew Cab 2WD, and the High Country Crew Cab Four Wheel Drive, with average annual rates of $1,743, $1,767, and $1,791, respectively.

It’s worth noting that insurance rates generally increase as the invoice price of the vehicle goes up, especially when add-ons and options are included. This holds true for the Silverado as well, with the pricier trims typically having higher insurance rates.

To give you a better idea of the average insurance rates for each available Silverado configuration, the table below shows the yearly and monthly costs for a 2023 model.

How much is insurance on a used Silverado pickup?

If you’re considering purchasing a used Chevrolet Silverado, you may be wondering how much insurance will cost. Generally speaking, insuring a used Silverado will be less expensive than insuring a new 2022 model. For example, choosing to insure a 2013 Silverado instead of a 2022 model could reduce your auto insurance cost by $469 or more per year. Insuring a 2016 Silverado would save you around $204 per year, while a 2019 model could save you $83 per year.

To give you a better idea of the average insurance rates for different model years and age groups, the table below shows the average policy cost for a range of scenarios. As you can see, the cost of insuring a Silverado varies widely depending on the driver’s age and the model year of the vehicle. The most expensive policy cost is $3,267 per year for a 20-year-old driver of a 2022 Silverado, while the least expensive policy cost is $1,049 per year for a 60-year-old driver of a 2013 Silverado.

When should I insure my Chevy Silverado for just liability?

When it comes to insuring your Chevrolet Silverado, the decision to opt for liability insurance only is a personal one. However, as a general guideline, it’s recommended to consider removing comprehensive and collision coverage when the cost of your auto insurance rate exceeds 10% of the vehicle’s value.

To give you an idea of how the cost of liability-only coverage for the Silverado has changed over the years, the chart below displays the average annual premiums for full-coverage and liability-only coverage for Chevy Silverado 1500 models from 1996 through 2012. As you can see, the cost difference between full-coverage and liability-only coverage can be significant, so it’s worth considering your options and choosing the coverage that makes the most sense for your individual needs.

Chevrolet Silverado compared to other large pickup trucks

If you’re in the market for a full-size half-ton pickup truck and want to compare auto insurance costs, it’s worth noting that the Chevrolet Silverado 1500 has a slightly higher insurance rate compared to some of its competitors. Specifically, when compared to other full-size half-ton pickups, the Silverado’s average annual insurance cost of $1,637 is $165 more per year than the Ford F150, $100 less than the Ram pickup truck, and $83 more than the GMC Sierra 1500.

That being said, the Silverado still ranks relatively well in terms of insurance costs in the full-size half-ton pickup truck class, coming in at #4 out of seven vehicles. On average, the segment has an insurance rate of $1,655 annually, which makes the Silverado’s $1,637 average insurance cost only $18 less per year.

To help you compare the Silverado’s insurance costs to its competitors, the chart below highlights where the Silverado ranks in a head-to-head auto insurance cost comparison.

Can my address affect my car insurance rates?

If you’re looking to insure a Chevrolet Silverado, it’s important to keep in mind that the cost of auto insurance can vary widely depending on where you live. For instance, some areas have relatively low insurance rates for the Silverado, such as $1,169 per year in Charlotte, North Carolina and $1,100 in Virginia Beach, Virginia. On the other hand, other areas have significantly higher rates, such as $2,733 per year in Las Vegas, Nevada and $3,165 in Miami, Florida.

Other areas fall somewhere in between, with average annual rates for the Silverado ranging from $1,599 in Tucson, Arizona to $2,345 in San Francisco, California, $1,987 in Colorado Springs, Colorado, and $2,065 in Kansas City, Missouri.

To give you a better idea of how the cost of insuring a Silverado varies by location, the table below ranks average insurance rate data for a 2022 Chevy Silverado for the largest cities in America. As you can see, the cost of insurance can vary significantly even between cities, with prices ranging from $1,243 per year in Columbus, Ohio to $3,093 per year for full-coverage car insurance in New York City, a difference of $1,871.

How much is Silverado insurance in my state?

When it comes to the cost of insuring a Chevrolet Silverado at the state level, prices can vary significantly depending on where you live. Some states have more affordable insurance rates for the Silverado, such as Idaho ($1,305), Iowa ($1,183), and Maine ($1,133), while other states have more expensive insurance rates, like Louisiana ($2,383), Michigan ($2,608), and Florida ($2,403).

Most states fall somewhere in the middle, with average annual rates ranging from $965 in Ohio to $1,939 in Rhode Island. Some examples of average annual rates in this range include South Carolina ($1,508), Colorado ($1,757), and Oregon ($1,383).

To give you a better idea of how insurance rates for the Silverado vary by state, the table below lists the average annual insurance costs for each state in the US.

Factors That Affect Chevy Silverado Auto Insurance Cost:

1. Vehicle Age and Model:

The age and model of your Chevy Silverado will impact your auto insurance cost. Older models typically have lower premiums than newer ones since they have less value. Additionally, models with more safety features, such as anti-lock brakes and airbags, can lead to lower premiums.

2. Driving Record:

Your driving record is one of the most significant factors that affect your Chevy Silverado auto insurance cost. Drivers with a clean record are typically viewed as lower risk, while those with accidents, tickets, and other violations will pay higher premiums.

3. Location:

The location where you drive your Chevy Silverado also plays a role in your auto insurance cost. Areas with higher crime rates or higher accident rates will typically result in higher premiums.

4. Coverage Level:

The amount of coverage you choose will also impact your Chevy Silverado auto insurance cost. Higher levels of coverage will typically result in higher premiums.

Tips to Save Money on Chevy Silverado Auto Insurance:

1. Shop Around:

One of the best ways to save money on Chevy Silverado auto insurance is to shop around. Compare quotes from several different insurers to find the best deal.

2. Raise Your Deductible:

Increasing your deductible can lower your monthly premium. However, be sure to choose a deductible that you can afford to pay out of pocket if you’re in an accident.

3. Ask About Discounts:

Many insurers offer discounts for various reasons, such as good driving habits, safety features, or multiple vehicles. Ask your insurer about any available discounts to help lower your Chevy Silverado auto insurance cost.

4. Drive Safely:

Maintaining a clean driving record is one of the best ways to keep your Chevy Silverado auto insurance cost low. Obey traffic laws, avoid distractions while driving, and always wear your seatbelt.

FAQs:

How much does Chevy Silverado auto insurance cost on average?

The cost of Chevy Silverado auto insurance varies depending on several factors, such as the model, driving record, and location. On average, you can expect to pay between $1,500 and $2,500 per year for full coverage.

Are there any specific safety features that can lower my Chevy Silverado auto insurance cost?

Yes, safety features such as anti-lock brakes, airbags, and anti-theft devices can help lower your Chevy Silverado auto insurance cost.