Chevy Silverado Insurance Cost for 2023

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 insurance rates on a 2023 Silverado to look at how rate quotes size up to all other large trucks.

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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 if paid each month. Expect to pay about $15 more per year to insure a Silverado compared to the large half-ton truck average rate of $1,915, depending on the trim level.

The chart below illustrates how average 2023 Chevy Silverado insurance cost fluctuates with differences in driver age and the chosen 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 January 23, 2023
Chevy Silverado Insurance Cost Summary
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

To understand how variable the cost of car insurance is, keep in mind that a Silverado insurance policy with only liability coverage in the cheapest areas of Vermont or Ohio can be as low as $243 a year.

For comparison sakes, the same model year of Chevy Silverado driven by a teenager with a few accidents and driving violations in Philadelphia, PA, could receive a car insurance bill for $15,178 a year for a policy with full coverage.

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 6-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 January 23, 2023
Chevrolet Silverado Insurance Cost by Trim Level

How much is insurance on a used Silverado pickup?

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.

The next table shows average Chevrolet Silverado insurance for a range of model years and driver ages. Average policy cost ranges from a minimum value of $1,140 for a 60-year-old driver rated on a 2013 Chevrolet Silverado, to the most expensive cost of $3,864 for a 20-year-old driving a 2023 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 January 23, 2023
Chevrolet Silverado Insurance Cost by Model Year

When should I insure my Silverado for just liability?

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 average liability-only insurance cost for Chevy Silverado 1500 models from 1995 through 2012. We split out the cost of full coverage and liability-only coverage in order to show the cost difference.

Older Silverado models can be insured with liability coverage for as little as $40 a month depending on the coverage limits.

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 January 23, 2023
Chevy Silverado Insurance Rates for 1995 to 2012 Model Years

Does Silverado insurance cost more than other trucks?

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 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 January 23, 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.

Silverado insurance by U.S. city

Depending on where you live, the insurance cost for a Silverado spans a large price range, from cheaper premiums like $1,366 a year in Charlotte, NC, or $1,292 in Virginia Beach, VA, to high rates like $3,010 a year in Las Vegas, NV, and $2,782 in Miami, FL.

Chevy Silverado car insurance rates in some other areas include San Francisco, CA, at $2,600 per year, Tucson, AZ, at an estimated $1,804, Colorado Springs, CO, averaging $2,218, and Kansas City, MO, at $2,314.

The chart data below ranks average auto insurance rate data for a 2023 Chevy Silverado for the largest cities in America.

Get Rates in Your AreaWhy is this important?

Chart Data Details: Chart shows average car insurance rates for a 2023 Chevrolet Silverado, 40-year-old married male driver with safe driver and claim-free discounts applied. Physical damage deductibles are $500 and rates are the average for all Chevrolet Silverado trim levels.Data last updated on January 23, 2023
Chevrolet Silverado Insurance Rates in Large U.S. Cities
Chevrolet Silverado Insurance Rates by Location
City/State Annual Rate Monthly Rate
New York, NY$3,400$283
Philadelphia, PA$3,016$251
Las Vegas, NV$3,010$251
Los Angeles, CA$3,000$250
San Francisco, CA$2,600$217
Kansas City, MO$2,314$193
Oklahoma City, OK$2,314$193
Denver, CO$2,264$189
Memphis, TN$2,264$189
Atlanta, GA$2,238$187
San Jose, CA$2,174$181
Phoenix, AZ$2,118$177
Portland, OR$2,092$174
San Diego, CA$2,078$173
Boston, MA$2,070$173
Jacksonville, FL$2,068$172
Chicago, IL$2,012$168
Dallas, TX$1,978$165
Houston, TX$1,970$164
Seattle, WA$1,962$164
Nashville, TN$1,888$157
Milwaukee, WI$1,880$157
Albuquerque, NM$1,844$154
San Antonio, TX$1,786$149
Omaha, NE$1,736$145
Fort Worth, TX$1,728$144
Austin, TX$1,704$142
Indianapolis, IN$1,554$130
Columbus, OH$1,430$119
Charlotte, NC$1,366$114

Silverado insurance average cost by U.S. state

Insurance for a 2023 Chevrolet Silverado varies considerably depending on the state you live in, with rates ranging from $1,162 per year in Maine to $2,638 per year in Michigan.

Other states with very good average rates include Iowa at an average cost of $1,288 per year, North Carolina at $1,204 per year, and Virginia at $1,280 per year.

States with much more expensive insurance rates on a Silverado include Florida, Rhode Island, New Jersey, and California.

States that fall closer to the average include Washington, Arizona, Montana, and Texas.

The table below ranks all fifty U.S. states by the average cost to insure a 2023 Silverado, with rates broken out for annual premium, semi-annual premium, and monthly cost.

Chevrolet Silverado Average Insurance Cost by State for 2023
U.S. State Annual Cost 6-month Cost Monthly Cost
Alabama$1,736$868$145
Alaska$1,458$729$122
Arizona$1,766$883$147
Arkansas$2,020$1,010$168
California$2,332$1,166$194
Colorado$2,068$1,034$172
Connecticut$2,148$1,074$179
Delaware$2,196$1,098$183
Florida$2,406$1,203$201
Georgia$1,972$986$164
Hawaii$1,316$658$110
Idaho$1,374$687$115
Illinois$1,692$846$141
Indiana$1,438$719$120
Iowa$1,288$644$107
Kansas$1,900$950$158
Kentucky$2,068$1,034$172
Louisiana$2,296$1,148$191
Maine$1,162$581$97
Maryland$1,792$896$149
Massachusetts$2,102$1,051$175
Michigan$2,638$1,319$220
Minnesota$1,654$827$138
Mississippi$1,882$941$157
Missouri$2,178$1,089$182
Montana$1,770$885$148
Nebraska$1,612$806$134
Nevada$2,308$1,154$192
New Hampshire$1,288$644$107
New Jersey$2,338$1,169$195
New Mexico$1,586$793$132
New York$2,234$1,117$186
North Carolina$1,204$602$100
North Dakota$1,600$800$133
Ohio$1,346$673$112
Oklahoma$2,130$1,065$178
Oregon$1,802$901$150
Pennsylvania$1,852$926$154
Rhode Island$2,390$1,195$199
South Carolina$1,616$808$135
South Dakota$1,982$991$165
Tennessee$1,836$918$153
Texas$1,792$896$149
Utah$1,688$844$141
Vermont$1,404$702$117
Virginia$1,280$640$107
Washington$1,740$870$145
West Virginia$1,720$860$143
Wisconsin$1,378$689$115
Wyoming$1,712$856$143

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, which is averaged for all Chevrolet Silverado trim levels. Physical damage deductibles are $500 and rates are averaged for all zip codes in each state.Data last updated on January 23, 2023
Chevrolet Silverado insurance rates by U.S. state

If that’s not enough rate data, we threw in a few more little nuggets of information just in case:

  • Increasing deductibles makes car insurance cheaper. Raising deductibles from $500 to $1,000 could save around $278 per year for a 40-year-old driver and $546 per year for a 20-year-old driver.
  • Low physical damage deductibles may be wasting money. Decreasing your deductibles from $500 to $250 could cost an additional $292 per year for a 40-year-old driver and $576 per year for a 20-year-old driver.
  • Earn a discount from your choice of occupation. Many car insurance companies offer policy discounts for earning a living in occupations like doctors, architects, nurses, high school and elementary teachers, college professors, members of the military, and other occupations. If your profession qualifies you for this discount, you may save between $58 and $178 on your yearly Silverado insurance cost, depending on your policy.
  • Rated driver gender affects the rate you pay. For a 2023 Chevrolet Silverado, a 20-year-old man will have an average rate of $3,864 per year, while a 20-year-old female will get a rate of $2,856, a difference of $1,008 per year. Women get significantly cheaper rates. But by age 50, the rate for men is $1,760 and the female rate is $1,726, a difference of only $34.
  • It’s expensive to buy high risk insurance. For a 50-year-old driver, having to buy high-risk car insurance for a Chevy Silverado due to accidents and/or violations could raise rates by $2,320 or more per year.
  • Excellent credit scores get the best rates. In states that have regulations allowing a driver’s personal credit information to be used as an auto insurance rate factor, drivers who have credit scores over 800 could experience savings as high as $303 per year over a lower credit rating of 670-739. Conversely, a credit rating below 579 could cost up to $351 more per year.
  • Avoid driving violations to reduce rates. To pay the most affordable Silverado insurance rates, it’s necessary to drive safe. As few as two minor driving offenses could possibly increase Silverado insurance cost by as much as $516 per year.
  • Older drivers pay less than younger drivers. The difference in insurance rates for a Silverado between a 50-year-old driver ($1,760 per year) and a 30-year-old driver ($2,020 per year) is $260, or a savings of 12.9%.