Chevy Silverado Insurance Cost for 2021

• Chevy Silverado insurance cost averages $1,578 per year, or about $132 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 $1,350 per year. At the high end, the Silverado High Country Crew Cab 2WD is the most expensive to insure at $1,824 for an annual policy.
• Insuring a used Chevrolet Silverado instead of a new 2021 model may save $340 or more each year.
• The 2021 Chevrolet Silverado is one of the more expensive large trucks to insure, costing $46 more per year on average as compared to other full-size trucks.

How much does Chevy Silverado insurance cost?

Chevy Silverado insurance costs an average of $1,578 a year, or about $132 if paid each month. Expect to pay about $46 more per year to insure a Silverado compared to the large half-ton truck average rate of $1,532, depending on the trim level.

The chart below illustrates how average 2021 Chevy Silverado insurance cost fluctuates with differences in driver age and the chosen policy deductibles.

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, Pennsylvania, could receive a car insurance bill for $12,926 a year for a policy with full coverage.

What is the cheapest Silverado trim to insure?

The cheapest Chevrolet Silverado 1500 car insurance rates can be found on the WT Regular Cab 4WD at an average of $1,350 per year, or about $113 per month. The second cheapest model is the WT Double Cab 4WD at $1,396 per year, and the third cheapest trim level to insure is the WT Crew Cab 4WD at $1,442 per year.

On the opposite end of the cost spectrum, the three highest cost Silverado trim levels to insure are the Chevrolet Silverado RST Crew Cab 2WD, the LTZ Crew Cab 2WD, and the High Country Crew Cab 2WD trim levels at $1,732,  $1,778, and $1,824 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 2021 Silverado, including a monthly budget amount, for each available trim level.

How much is insurance on a used Silverado pickup?

Insuring a 2013 Silverado instead of a new 2021 model could reduce insurance cost by $340 or more each year. A 2016 Silverado would save around $164, and a 2019 model could save $88 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 $1,108 for a 60-year-old driver rated on a 2013 Chevrolet Silverado, to the most expensive cost of $3,142 for a 20-year-old driving a 2021 model.

How much does 2022 Silverado insurance cost?

Car insurance rates for the 2022 Chevy Silverado are expected to be similar to 2021 rates, with a minimal upward adjustment. Expect the cheapest rates to again be on the base Work Truck models and the highest rates to be on the High Country models.

However, one difference with insurance cost for a 2022 Silverado could be the release of Chevy’s new competitor to the Ram TRX and F-150 Raptor, the Silverado ZRX (or ZR2).

Details are limited on the Silverado ZRX specs at this point (including the badging since we’ve seen both ZRX and ZR2 speculations), but powertrains are expected to include the current 6.2 liter gas V8 or the 3.0 liter Turbo I6 diesel. Insurance cost for a Silverado ZRX is expected to be at the high end of the range, costing upwards of $1,900 per year for full coverage.

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.

Does Chevrolet Silverado insurance cost more than other trucks?

When compared to other full-size half-ton pickups, Chevrolet Silverado 1500 car insurance costs $136 more per year than the Ford F150, is $68 less than the Ram Truck, and costs $98 more than the GMC Sierra 1500.

The Chevrolet Silverado ranks #5 out of six total comparison vehicles in the full-size half ton truck class. The Silverado costs an average of $1,578 per year to insure for full coverage, while the segment average rate is $1,532 annually, a difference of $46 per year.

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

Can my address affect my car insurance rates?

Depending on where you live, the insurance cost for a Silverado spans a large price range, from cheaper premiums like $1,088 a year in Charlotte, NC or $1,022 in Virginia Beach, VA, to high rates like $2,596 a year in Las Vegas, NV and $3,018 in Miami, FL.

Chevy Silverado car insurance rates in some other areas include San Francisco, CA, at $2,218 per year, Tucson, AZ, at an estimated $1,496, Colorado Springs, CO, averaging $1,870, and Kansas City, MO, at $1,956.

The chart data below ranks average auto insurance rate data for a 2021 Chevy Silverado for the largest cities in America. Prices range from $1,148 per year in Columbus, OH, to $2,952 in New York, NY, a difference of $1,804.

How much is Silverado insurance in my state?

When evaluating Chevrolet Silverado insurance cost at the state level, states like Idaho ($1,056), Iowa ($1,046), and Maine ($1,000) have better insurance rates, while states like Louisiana ($2,338), Michigan ($2,836), and Florida ($2,134) have more expensive insurance rates.

Prices in most states do not really fall too far from the median, with states like South Carolina, Colorado, and Oregon included in this group with average rates of $1,466, $1,688, and $1,400 per year, respectively.

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 $232 per year for a 40-year-old driver and $450 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 $238 per year for a 40-year-old driver and $472 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 $47 and $145 on your yearly Silverado insurance cost, depending on your policy.
• Rated driver gender affects the rate you pay. For a 2021 Chevrolet Silverado, a 20-year-old man will have an average rate of $3,142 per year, while a 20-year-old female will get a rate of $2,332, a difference of $810 per year. Women get significantly cheaper rates. But by age 50, the rate for men is $1,438 and the female rate is $1,410, a difference of only $28.
• 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 $1,874 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 $248 per year over a lower credit rating of 670-739. Conversely, a credit rating below 579 could cost up to $287 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 $418 per year.
• Older drivers pay less than younger drivers. The difference in insurance rates for a Silverado between a 50-year-old driver ($1,438 per year) and a 30-year-old driver ($1,654 per year) is $216, or a savings of 13.1%.

Additional Articles and Resources

• Ford F150 vs. Chevrolet Silverado Insurance Rates
• Chevy Silverado vs. GMC Sierra Insurance Rates
• Chevy Silverado vs. Colorado – Which Insurance Costs Less?