Chevy Silverado Insurance Cost by Model Year and Trim Level

How much will it cost to insure a Chevrolet Silverado?

From the WT Regular Cab 4WD model to the ZR2 Crew Cab 4WD trim level, we analyzed and compared insurance quotes for the Silverado, plus ranked companies with the best insurance for a Silverado.

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How much does Chevy Silverado insurance cost?

Chevy Silverado insurance costs an average of $1,930 a year, or about $161 per month for the 2023 model.

The table below shows how average insurance rates compare for the 2023, 2020, and 2017 model year Silverados. Rates are included for different driver ages along with the cheapest and most expensive models to insure for each model year.

Chevy Silverado Insurance Cost Overview
2023 Chevrolet Silverado2020 Chevrolet Silverado2017 Chevrolet Silverado
Average Insurance Cost Per Year $1,930$1,760$1,560
Insurance Cost Per Month $161$147$130
16-year-old Driver $7,128$6,546$5,860
18-year-old Driver $6,170$5,660$5,042
20-year-old Driver $3,864$3,536$3,126
25-year-old Driver $2,821$2,581$2,282
30-year-old Driver $2,020$1,844$1,626
40-year-old Driver $1,930$1,760$1,560
50-year-old Driver $1,760$1,608$1,424
60-year-old Driver $1,730$1,582$1,398
Cheapest Model to Insure WT Regular Cab 4WDWT Regular Cab 4WDLS Regular Cab 4WD
Cheapest Insurance Cost $1,726$1,552$1,438
Most Expensive Model to Insure ZR2 Crew Cab 4WDHigh Country Crew Cab 2WDHigh Country Crew Cab 2WD
Most Expensive Insurance Cost $2,138$1,994$1,732

Get Rates in Your AreaWhy is this important?

Table Data Details: Average rates are for the 2023 model year and assume a 40-year-old married male driver with a clean driving record and no at-fault accidents. Safe driver and claim-free discounts are applied to policy premium. Physical damage deductibles are $500 and rates are averaged for all U.S. states.Data last updated on May 5, 2023
Chevy Silverado Insurance Cost Overview

If you have or need full coverage insurance on your Silverado, then you’re going to have to choose a deductible for the comprehensive and collision coverages.

Companies offer a variety of options for deductibles, but the usual range starts at around $100 and can go up to $1,500 or more.

The higher deductible you choose, the less insurance will cost on any vehicle, not just a Silverado.

The chart below illustrates how 2023 Chevy Silverado insurance can fluctuate with differences in driver age and policy deductibles.

Get Rates in Your AreaWhy is this important?

Chart Data Details: Chart shows average insurance cost for a 2023 Chevrolet Silverado with safe driver and claim-free discounts applied. Rates are for full-coverage insurance and averaged for all U.S. states and all Chevrolet Silverado trim levels.Data last updated on May 5, 2023
Chevy Silverado Insurance Cost Summary
2023 Chevrolet Silverado Insurance Cost by Driver Age and Deductibles
Driver Age Deductible Annual Cost Monthly Cost
20$1,000$3,318$277
$500$3,864$322
$250$4,440$370
30$1,000$1,718$143
$500$2,020$168
$250$2,338$195
40$1,000$1,652$138
$500$1,930$161
$250$2,222$185
50$1,000$1,510$126
$500$1,760$147
$250$2,022$169
60$1,000$1,484$124
$500$1,730$144
$250$1,986$166

If you’re a younger driver, you will pay higher insurance prices than a more mature driver, if all other variables remain constant.

As shown in the first table, insurance rates for a teen driver on a Silverado are much higher than even the rates for the 20-year-old driver in the chart above.

The data also clearly illustrates how much the price of insurance can vary depending on the deductible you choose. For the average 40-year-old driver, the cost difference between a $250 and $1,000 deductible policy on a 2023 Silverado is $570 per year.

The cost difference between high and low-deductible policies is even more pronounced for a 20-year-old driver. For a 2023 Silverado, the difference in insurance cost is $1,122 per year.

What is the cheapest Silverado insurance?

The cheapest Chevrolet Silverado insurance rates can be found on the WT Regular Cab 4WD at an average of $1,726 per year, or about $144 per month. The second cheapest model is the WT Double Cab 4WD at $1,770 per year, and the third cheapest trim level to insure is the WT Regular Cab 2WD at $1,780 per year.

On the opposite end of the cost spectrum, the three highest cost Silverado trim levels to insure are the Chevrolet Silverado LT Crew Cab 2WD, the High Country Crew Cab 4WD, and the ZR2 Crew Cab 4WD trim levels at $2,074,  $2,086, and $2,138 per year, respectively.

2021 Chevy Silverado 1500 High Country
High Country chrome emblem on passenger side front fender of 2021 Chevy Silverado 1500

In general, as the invoice price goes up with additional add-ons and options, the price of insurance also goes up. The Silverado is no exception to this rule, as the high-cost trims generally have the most expensive insurance rates.

The next table shows average car insurance rates for a 2023 Silverado, including a monthly budget amount, for each available trim level.

2023 Chevrolet Silverado Insurance Cost by Trim Level
Chevrolet Silverado Trim Level Annual Policy Six-Month Policy Per Month
WT Regular Cab 4WD$1,726$863$144
WT Double Cab 4WD$1,770$885$148
WT Regular Cab 2WD$1,780$890$148
WT Crew Cab 4WD$1,818$909$152
RST Double Cab 4WD$1,820$910$152
Custom Double Cab 4WD$1,846$923$154
WT Double Cab 2WD$1,868$934$156
Custom Crew Cab 4WD$1,894$947$158
LT Double Cab 4WD$1,920$960$160
WT Crew Cab 2WD$1,924$962$160
Custom Trail Boss 4WD$1,926$963$161
LT Crew Cab 4WD$1,954$977$163
Custom Double Cab 2WD$1,958$979$163
RST Crew Cab 4WD$1,984$992$165
LT Trail Boss Crew Cab 4WD$2,006$1,003$167
LTZ Crew Cab 4WD$2,036$1,018$170
LT Double Cab 2WD$2,040$1,020$170
LT Crew Cab 2WD$2,074$1,037$173
High Country Crew Cab 4WD$2,086$1,043$174
ZR2 Crew Cab 4WD$2,138$1,069$178

Get Rates in Your AreaWhy is this important?

Table Data Details: Average rates are for a 2023 Chevrolet Silverado, 40-year-old married male driver with a clean driving record and no at-fault accidents. Safe driver and claim-free discounts are applied to policy premium. Physical damage deductibles are $500 and rates are averaged for all U.S. states.Data last updated on May 5, 2023
Chevrolet Silverado Insurance Cost by Trim Level

Insurance difference between new and used models

Insuring a 2013 Silverado instead of a new 2023 model could reduce insurance cost by $650 or more each year. A 2016 Silverado would save around $380, and a 2019 model could save $240 per year.

As a vehicle gets older, it depreciates and its actual cash value (or replacement cost) decreases. This generally means the cost of insurance goes down as well.

The next table shows the average Chevrolet Silverado insurance rates from a new 2023 model back to a 2013 model.

Chevrolet Silverado Insurance Cost by Model Year
Model Year and Vehicle Driver Age 20 Driver Age 40 Driver Age 60
2023 Chevrolet Silverado$3,864$1,930$1,730
2022 Chevrolet Silverado$3,574$1,780$1,596
2021 Chevrolet Silverado$3,578$1,780$1,600
2020 Chevrolet Silverado$3,536$1,760$1,582
2019 Chevrolet Silverado$3,386$1,686$1,514
2018 Chevrolet Silverado$3,280$1,630$1,464
2017 Chevrolet Silverado$3,126$1,560$1,398
2016 Chevrolet Silverado$3,100$1,546$1,388
2015 Chevrolet Silverado$2,872$1,440$1,292
2014 Chevrolet Silverado$2,718$1,360$1,222
2013 Chevrolet Silverado$2,520$1,272$1,140

Get Rates in Your AreaWhy is this important?

Table Data Details: Average rates for each driver age group are for a 12-month period and assume a clean driving record and no at-fault accidents. Full coverage physical damage deductibles are $500 and rates are averaged for all U.S. states.Data last updated on May 5, 2023
Chevrolet Silverado Insurance Cost by Model Year

Full coverage vs. liability-only for older Silverados

The point at which you insure your Silverado for liability insurance only is purely a personal decision. There is a general guideline that when the cost of comprehensive and collision insurance costs more than 10% of the vehicle value, it’s time to start thinking about removing it.

The table below shows the average liability-only insurance cost for Chevy Silverado 1500 models from 1995 through 2012. The cost of full-coverage insurance is also included in order to compare the difference in price between the two.

Chevrolet Silverado Insurance Rates for 1995 to 2012 Model Years
Vehicle Model Year Full Coverage Insurance Liability Insurance
2012 Chevrolet Silverado$1,236$666
2011 Chevrolet Silverado$1,188$660
2010 Chevrolet Silverado$1,150$656
2009 Chevrolet Silverado$1,106$650
2008 Chevrolet Silverado$1,060$640
2007 Chevrolet Silverado$1,020$628
2006 Chevrolet Silverado$1,006$624
2005 Chevrolet Silverado$990$618
2004 Chevrolet Silverado$960$612
2003 Chevrolet Silverado$938$606
2002 Chevrolet Silverado$919$594
2001 Chevrolet Silverado$901$582
2000 Chevrolet Silverado$883$570
1999 Chevrolet Silverado$865$559
1998 Chevrolet Silverado$848$548
1997 Chevrolet Silverado$831$537
1996 Chevrolet Silverado$814$526
1995 Chevrolet Silverado$798$516

Get Rates in Your AreaWhy is this important?

Table Data Details: Average insurance rates for each Chevrolet Silverado model year assume a 40-year-old married male driver with a clean driving record and no at-fault accidents. Safe driver and claim-free discounts are applied to premium amounts. Full coverage physical damage deductibles are $500 and rates are averaged for all U.S. states.Data last updated on May 5, 2023
Chevy Silverado Insurance Rates for 1995 to 2012 Model Years

Silverado insurance compared to the competition

When compared to other full-size half-ton pickups, Chevy Silverado insurance costs $136 more per year than the Ford F150, is $2 more than the Ram Truck, and costs $4 more than the GMC Sierra 1500 for 2023 models.

2020 Chevrolet Silverado 1500 Trail Boss 4WD Crew Cab
Photo of Trail Boss emblem on side of 2020 Chevrolet Silverado 1500 box side

The 2023 Chevrolet Silverado ranks sixth out of seven total comparison vehicles in the full-size half-ton truck class. The Silverado costs an average of $1,930 per year to insure for full coverage, while the segment average rate is $1,915 annually, a difference of $15 per year.

The chart below highlights where the Silverado ranks in comparison to the other pickups in a head-to-head insurance cost comparison.

Get Rates in Your AreaWhy is this important?

Chart Data Details: Average rates are for a 2023 model year Chevrolet Silverado, 40-year-old married male driver with a clean driving record and no at-fault accidents. Safe driver and claim-free discounts are applied to policy premium, which is averaged for all Chevrolet Silverado trim levels. Physical damage deductibles are $500 and rates are averaged for all U.S. states.Data last updated on May 5, 2023
Chevrolet Silverado vs Large Trucks Insurance Rate Comparison
Chevrolet Silverado Insurance Cost Compared to All Large Trucks
Rank Make/Model Insurance Cost Difference
1Nissan Titan$1,746-$184
2Ford F150$1,794-$136
3Toyota Tundra$1,856-$74
4GMC Sierra$1,926-$4
5Ram Truck$1,928-$2
6Chevrolet Silverado$1,930--
7GMC Hummer EV Pickup$2,228$298

Purchase price vs. insurance price

How does the cost of Silverado insurance compare to the pickup trucks with the most similar purchase price? This is an important metric when deciding between two different truck models.

With an average MSRP of $51,875, the cost to purchase a 2023 Chevrolet Silverado ranges from $42,795 to $73,395, before delivery and documentation fees.

The half-ton pickup models closest in price to the Silverado for the 2023 model year are the Toyota Tundra, Nissan Titan, GMC Sierra, and Ram Truck. Here’s how they compare to the Chevrolet Silverado for price and insurance cost.

  • Compared to the Toyota Tundra – The Toyota Tundra has an average retail price of $54,010, ranging from $36,965 to $75,245, which is $2,135 more expensive than the average cost for the Chevrolet Silverado. The cost to insure a Chevrolet Silverado compared to the Toyota Tundra is $74 more annually on average.
  • Compared to the Nissan Titan – The sticker price on the 2023 Nissan Titan averages $3,711 less than the average sticker price for the Chevrolet Silverado ($48,164 compared to $51,875). Insuring a 2023 Chevrolet Silverado compared to the Nissan Titan costs an average of $184 more annually.
  • Compared to the GMC Sierra – The average MSRP for a 2023 Chevrolet Silverado is $4,057 cheaper than the GMC Sierra, at $51,875 compared to $55,932. Insuring the Chevrolet Silverado compared to the GMC Sierra costs an average of $4 more each year.
  • Compared to the Ram Truck – The purchase price for the 2023 Ram Truck averages $4,647 more than the average MSRP for the Chevrolet Silverado ($56,522 compared to $51,875). The average insurance cost for a 2023 Chevrolet Silverado compared to the Ram Truck is $2 more per year.

Our insurance cost comparison page has additional Silverado comparisons, plus many other makes and models.

Which company has the best insurance for a Silverado?

If the cheapest price is your top priority, USAA, GEICO, and Progressive ranked at the top of our comparison of Silverado insurance rates, at estimated rates of $1,419, $1,702, and $1,861 per year.

However, if policy price is not your primary decision-making factor, then there are a lot of other things to consider. Some consumers want top-notch claims handling and others might want a full suite of online or mobile tools to manage their policy and track claims.

Additionally, some people like having the ability to walk into a local insurance agent’s office and sit down to discuss their insurance coverages.

In this comparison, we only considered large companies that had nearly universal coverage for all U.S. states. Smaller companies like Auto-Owners, Erie Insurance, American Family, and Shelter Insurance do not sell car insurance in every state but are definitely worth considering if you have access to them where you live.

Get Rates in Your AreaWhy is this important?

Chart Data Details: Average rates are for a 2023 Chevrolet Silverado, rated for a 40-year-old married male driver. Physical damage deductibles are $500, liability limits are 100/300/100, and rates are averaged for all locations and Chevrolet Silverado trim levels.Data last updated on May 5, 2023
Average 2023 Chevrolet Silverado Insurance Rates by Company
Average 2023 Chevrolet Silverado Insurance Rates by Company
Insurance CompanyAverage Annual RateCost Per Month
USAA$1,419$118
GEICO$1,702$142
Progressive$1,861$155
State Farm$1,963$164
Liberty Mutual$2,158$180
Allstate$2,347$196

USAA takes top honors in this comparison, but you can only buy from them if you are a veteran, active military, or a family member of either.

So for the majority of us, GEICO, Progressive, and State Farm are the number one, two, and three companies in the rate comparison.

Understand that these rates are averages for all Silverado models and locations. Where you live makes a huge difference in the cost of car insurance. To see how your rates may differ from the average, simply enter your Zip Code under the chart and click the GO button.

Also, understand that no company is necessarily the best choice for every driver. Each one has positive and negative aspects of how they do business.

We put together a list of some of the pros and cons for each company shown in the chart to illustrate the importance of choosing a company that meets your individual needs.

1. USAA

Estimated car insurance rate on a 2023 Chevrolet Silverado: $1,419 per year

Pros

  • Policy cost is the same whether you pay as a monthly payment or in full
  • They offer discounts for low-mileage drivers or vehicle storage
  • They offer a usage-based policy option called SafePilot to help you save money on your insurance

Cons

  • Less expensive options are available when adding a teen to a parent’s policy
  • Only offers insurance to active military members, veterans, and their immediate families

Get a Quote Or read more about auto insurance coverages offered at USAA.com

2. GEICO

Estimated car insurance rate on a 2023 Chevrolet Silverado: $1,702 per year

Pros

  • Offer a usage-based program, DriveEasy, for drivers who want to be monitored to save money
  • They have extra perks like federal employee and military discounts, accident forgiveness, and a car-buying program
  • On average, GEICO tends to have more affordable rates than the majority of other companies

Cons

  • Rates are above average for drivers with an accident or DUI
  • Have a below-average claim satisfaction rating in J.D. Power surveys

Get a Quote Or read more about auto insurance coverages offered at GEICO.com

3. Progressive

Estimated car insurance rate on a 2023 Chevrolet Silverado: $1,861 per year

Pros

  • Rates may be better than other companies for drivers with at-fault accidents on their record
  • Provides non-owner coverage for people who need coverage but do not own a car
  • Will file SR-22/FR-44 forms with the state if they are needed

Cons

  • Senior drivers and teenagers may find more attractive pricing elsewhere
  • Does not offer new car replacement

Get a Quote Or read more about auto insurance coverages offered at Progressive.com

4. State Farm

Estimated car insurance rate on a 2023 Chevrolet Silverado: $1,963 per year

Pros

  • They have strong financial ratings with agencies like J.D. Power and AM Best
  • They generally have a low amount of complaints filed with state insurance departments
  • Competitive rates if you’ve had a speeding ticket or two

Cons

  • Don’t give customers the ability to buy gap coverage unless you finance through State Farm Bank
  • Your local State Farm agent can’t quote your insurance with other providers so it will take some work on your part to shop around

Get a Quote Or read more about auto insurance coverages offered at StateFarm.com

5. Liberty Mutual

Estimated car insurance rate on a 2023 Chevrolet Silverado: $2,158 per year

Pros

  • Has excellent ratings with AM Best, Moody’s, and Standard & Poor’s
  • They offer a usage-based discount program, RightTrack, to help you save money on your insurance
  • Has optional coverages like loan/lease gap coverage and new car replacement

Cons

  • Expensive average rates for both drivers under the age of 25 and drivers over the age of 60
  • Liberty Mutual tends to have more complaints filed by customers with state regulators

Get a Quote Or read more about auto insurance coverages offered at LibertyMutual.com

6. Allstate

Estimated car insurance rate on a 2023 Chevrolet Silverado: $2,347 per year

Pros

  • They offer a usage-based discount program, Drivewise, to help save money on insurance
  • Coverages are available like a disappearing deductible, gap insurance, and accident forgiveness
  • Provides coverage for ridesharing for drivers who are employed by Uber or Lyft

Cons

  • Rates are not great for drivers with a DUI, speeding tickets, or poor credit
  • Allstate has some of the most expensive rates for both teenage and senior citizen drivers
  • Average rates are higher for drivers with a lapse in coverage or at-fault car accidents

Get a Quote Or read more about auto insurance coverages offered at Allstate.com