Chevy Bolt Car Insurance Cost: 2023 Rates and Rankings

• Bolt insurance costs an average of $1,710 per year, or around $143 per month for full coverage.
• The cheapest Bolt insurance is on the EV 1LT at around $1,648 per year, and the most expensive trim being the EUV Premier at $1,780 annually.
• When compared to other compact utility vehicles, the Chevrolet Bolt ranks just a little higher than average at $104 more than the segment average insurance cost.

How much does Chevy Bolt insurance cost?

Bolt insurance costs an average of $1,710 per year for a policy with full coverage. Monthly insurance cost ranges from $137 to $148, depending on the trim level being insured.

With the average compact SUV costing $1,606 a year to insure, drivers can expect to pay around $104 more per year to insure a Bolt when compared to the segment average.

The following chart demonstrates how average Chevrolet Bolt car insurance rates vary depending on the age of the driver and physical damage deductibles. Insurance rate averages vary from the lowest price of $1,298 per year for a driver age 60 with $1,000 physical damage deductibles to the highest policy cost of $3,918 each year for a driver age 20 with $250 physical damage deductibles.

As with all car insurance policies, the higher the policy deductibles, the lower the policy costs. In the chart above rates range from an average rate for a 60-year-old driver of $1,526 up to the average rate for a 20-year-old driver of $3,390 per year.

Expect to pay much higher auto insurance rates for teen drivers on a Chevy Bolt. For example, a 16-year-old male driver with a clean driving record would pay around $6,140 while a 16-year-old female would pay about $5,408. By age 18, rates drop to around $5,344 for males and $4,636 for female drivers.

Additional rates and policy scenarios are listed below.

• Prepare for sticker shock for high risk insurance. For a 30-year-old driver, having to buy a high-risk policy can increase the cost by $2,070 or more per year.
• Good credit equals better rates. In states that authorize a driver’s credit history to be used as a policy rate factor, drivers who maintain a credit score over 800 could possibly save as much as $268 per year compared to a credit rating between 670-739. Conversely, an imperfect credit score below 579 could cost as much as $311 more per year.
• Driver age and gender matter. For a 2023 Chevrolet Bolt, a 20-year-old male will pay an average rate of $3,390 per year, while a 20-year-old woman will get a rate of $2,522, a difference of $868 per year. The females get much better rates. But by age 50, male driver rates are $1,556 and female rates are $1,524, a difference of only $32.
• As you get older, rates tend to drop. The difference in insurance cost on a Bolt between a 50-year-old driver ($1,556 per year) and a 20-year-old driver ($3,390 per year) is $1,834, or a savings of 74.2%.
• Get cheaper insurance cost by avoiding traffic tickets. To get the cheapest price for Bolt insurance, it’s necessary to drive safe. Just a few minor infractions on your motor vehicle report have the ramification of raising the price of a policy by up to $450 per year.
• Your profession could save you a few bucks. Many car insurance providers offer discounts for specific professions like nurses, architects, farmers, high school and elementary teachers, college professors, and other occupations. By earning this discount on your policy you may save between $51 and $178 on your annual Bolt insurance bill, depending on the policy coverages selected.
• Raising deductibles results in a cheaper policy. Increasing deductibles from $500 to $1,000 could save around $260 per year for a 40-year-old driver and $504 per year for a 20-year-old driver.
• Low deductibles makes insurance more expensive. Decreasing your policy deductibles from $500 to $250 could cost an additional $268 per year for a 40-year-old driver and $528 per year for a 20-year-old driver.

What is the cheapest Chevy Bolt car insurance?

The cheapest model of Chevy Bolt to insure is the EV 1LT at $1,648 per year. The next cheapest trim is the EUV LT at $1,690 per year. The next table details average Bolt car insurance cost, in addition to a monthly budget amount, for each Bolt package and trim.

How does Bolt insurance compare?

When compared to popular vehicles in the 2023 small SUV segment, car insurance for a Chevy Bolt costs $214 more per year than the Honda CR-V, $76 more than the Toyota RAV4, $88 more than the Nissan Rogue, and $324 more than the Mazda CX-5.

The Chevrolet Bolt ranks 36^th out of 47 total vehicles in the 2023 small SUV class. The Bolt costs an average of $1,710 per year for full coverage insurance and the segment average cost is $1,606 per year, a difference of $104 per year.

The chart below shows how Bolt insurance rates compare to the top 10 most popular compact SUVs in America. An expanded table is also included after the chart that compares insurance rates for all 47 models in the 2023 compact SUV class, with the difference between the cost of insurance for a Bolt and each other model noted.