- Chevy Silverado insurance cost averages $1,930 per year, or about $161 per month for a policy with full coverage.
- The cheapest Silverado insurance is on the WT Regular Cab 4WD trim level, costing an average of $1,726 per year. At the high end, the Silverado ZR2 Crew Cab 4WD is the most expensive to insure at $2,138 for an annual policy.
- Insuring a used Chevrolet Silverado instead of a new 2023 model may save around $650 or more each year.
- In a comparison of large U.S. car insurance companies, USAA, GEICO, and Progressive had some of the best Silverado insurance rates.
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.
| 2023 Chevrolet Silverado | 2020 Chevrolet Silverado | 2017 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 4WD | WT Regular Cab 4WD | LS Regular Cab 4WD |
| Cheapest Insurance Cost | $1,726 | $1,552 | $1,438 |
| Most Expensive Model to Insure | ZR2 Crew Cab 4WD | High Country Crew Cab 2WD | High Country Crew Cab 2WD |
| Most Expensive Insurance Cost | $2,138 | $1,994 | $1,732 |
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.
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.
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.
| 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 |
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.
| 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 |
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.
| 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 |
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.
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.
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.
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
