- Chevy Traverse insurance rates cost $1,684 per year for a full coverage policy on average, depending on the trim level.
- The Traverse ranks 14th out of 31 vehicles in the midsize SUV class for insurance affordability.
- The cheapest Traverse insurance is usually on the base LS 2WD model costing an average of $1,560 per year. The Traverse High Country AWD is the most expensive to insure at $1,786 per year.
- Insuring a used Chevy Traverse could reduce the cost of insurance by around $540 or more each year.
How much does Chevrolet Traverse car insurance cost?
On average, Chevrolet Traverse car insurance costs $1,684 per year, which is the equivalent of $140 a month. Depending on the trim level being insured, monthly car insurance rates for a 2023 Traverse range from $130 to $149.
Comprehensive (or other-than-collision) coverage is an estimated $424 a year, collision coverage costs approximately $692, and the remaining liability and medical payments insurance costs approximately $568.
The chart below displays average car insurance rates for a 2023 Chevy Traverse using different driver ages and risk profiles.
|Driver Risk Profile||Annual Rate||Monthly Rate|
|High Risk Driver Age 30||$3,796||$316|
|Safe Driver Age 20||$3,326||$277|
|At-fault Accidents Age 40||$2,370||$198|
|Low Deductibles Age 40||$2,174||$181|
|Safe Driver Age 30||$1,770||$148|
|Safe Driver Age 40||$1,684||$140|
|Safe Driver Age 50||$1,534||$128|
|Safe Driver Age 60||$1,504||$125|
|High Deductibles Age 40||$1,430||$119|
|Discount Rate Age 40||$1,398||$117|
The previous insurance cost chart plots just a handful of insurance cost data points from an extremely large data set. If the data included all rates for every combination of risk factors, including all 12 Traverse models and all 41,692 zip codes in the U.S., the chart would show about 1,161,216,000,000 different possible insurance rates for a Chevrolet Traverse.
To better illustrate the range of Chevrolet Traverse car insurance rates, consider that a liability-only insurance policy in the cheaper areas of Virginia or Wisconsin can be as low as $225 a year. A teen driver with a few tickets and at-fault accidents in some zip codes in New York City could cost as much as $14,458 a year for full coverage.
That’s a ton of rates and a heap of variability. If you’re comparing rates to see if you can save money, or just shopping for a new policy, we really just recommend you get a quote. It will nail down your rate and eliminate a lot of the variables inherent in car insurance.
How does Traverse insurance cost rank?
The 2023 Chevy Traverse ranks 14th out of 31 total comparison vehicles in the midsize SUV segment. The Traverse costs an estimated $1,684 per year to insure for full coverage and the class median rate is $1,724 per year, an extra cost of $40 per year for the Traverse.
When compared to the top-selling other midsize SUVs in America, Chevrolet Traverse car insurance costs $192 less per year than the Jeep Grand Cherokee, $78 less than the Toyota Highlander, $180 more than the Ford Explorer, and $230 less than the Jeep Cherokee.
The table below shows how average Chevy Traverse insurance rates compare to the rest of the 2023 midsize SUV class like the new Kia Telluride, the Honda Passport, and the Hyundai Santa Fe.
|8||Volkswagen Atlas Cross Sport||$1,576||-$108|
|19||Mitsubishi Outlander Sport||$1,744||$60|
|23||Hyundai Santa Fe||$1,810||$126|
|24||Jeep Grand Cherokee||$1,876||$192|
|28||Tesla Model Y||$1,970||$286|
|29||Mitsubishi Outlander PHEV||$2,018||$334|
With an average MSRP of $45,370, ranging from the cheapest LS 2WD model at $35,915 to the most expensive High Country AWD costing $55,595, the Traverse has a relatively affordable price tag. But how does the price of insurance compare to similarly-priced SUVs?
The vehicles in the midsize SUV segment closest in price to the Chevrolet Traverse for the 2023 model year are the Honda Pilot, Mitsubishi Outlander PHEV, Toyota Highlander, and Kia Telluride. Here’s how those models compare to the Traverse for overall purchase price and insurance cost.
- Chevrolet Traverse vs. Honda Pilot – The 2023 Honda Pilot retails for an average of $45,223, ranging from $39,150 to $52,030, which is $148 cheaper than the Chevrolet Traverse. Full-coverage insurance on the Honda Pilot costs an average of $12 more every 12 months than the Chevrolet Traverse.
- Chevrolet Traverse vs. Mitsubishi Outlander PHEV – The 2023 Chevrolet Traverse has an average MSRP that is $167 cheaper than the Mitsubishi Outlander PHEV ($45,370 versus $45,537). The average insurance cost for a Chevrolet Traverse compared to the Mitsubishi Outlander PHEV is $334 less every 12 months.
- Chevrolet Traverse vs. Toyota Highlander – With an average sticker price of $44,809 ($36,420 to $52,425), the Toyota Highlander costs $561 less than the MSRP for the Chevrolet Traverse. Buying insurance for the Toyota Highlander costs an average of $78 more each year than the Chevrolet Traverse.
- Chevrolet Traverse vs. Kia Telluride – The average MSRP for a 2023 Chevrolet Traverse is $606 cheaper than the Kia Telluride, at $45,370 compared to $45,976. Expect to pay around $70 more per year for insurance on the Kia Telluride compared to a Traverse.
Additional comparisons for other makes and models can be found on our car insurance comparisons page.
Which Chevy Traverse insurance is the cheapest?
The cheapest model of Chevy Traverse to insure is the LS 2WD at around $1,560 per year. The next cheapest trim is the LS AWD at $1,592 per year, and the third cheapest trim level to insure is the LT Cloth 2WD at $1,604 per year.
The three highest cost Traverse models to insure are the Traverse Premier AWD, the High Country 2WD, and the High Country AWD trim levels at $1,752, $1,772, and $1,786 per year, respectively.
The table below shows average annual and 6-month car insurance policy costs for each Traverse trim package, including a monthly rate.
|Chevrolet Traverse Trim Level||Annual Policy||Six-Month Policy||Per Month|
|LT Cloth 2WD||$1,604||$802||$134|
|LT Cloth AWD||$1,658||$829||$138|
|LT Leather 2WD||$1,658||$829||$138|
|LT Leather AWD||$1,680||$840||$140|
|High Country 2WD||$1,772||$886||$148|
|High Country AWD||$1,786||$893||$149|
New versus used insurance rates
Bypassing the 2023 model and instead driving a 2018 Chevrolet Traverse could cut your insurance cost by $320 or more per year at a minimum, depending on your coverage levels.
The next table shows average car insurance rates for the Traverse for 2009 to the 2023 model years.
|Model Year and Vehicle||Annual Rate||6-month Rate||Monthly Rate|
|2023 Chevrolet Traverse||$1,684||$842||$140|
|2022 Chevrolet Traverse||$1,704||$852||$142|
|2021 Chevrolet Traverse||$1,616||$808||$135|
|2020 Chevrolet Traverse||$1,594||$797||$133|
|2019 Chevrolet Traverse||$1,410||$705||$118|
|2018 Chevrolet Traverse||$1,364||$682||$114|
|2017 Chevrolet Traverse||$1,294||$647||$108|
|2016 Chevrolet Traverse||$1,248||$624||$104|
|2015 Chevrolet Traverse||$1,284||$642||$107|
|2014 Chevrolet Traverse||$1,242||$621||$104|
|2013 Chevrolet Traverse||$1,138||$569||$95|
|2012 Chevrolet Traverse||$1,115||$558||$93|
|2011 Chevrolet Traverse||$1,093||$546||$91|
|2010 Chevrolet Traverse||$1,071||$536||$89|
|2009 Chevrolet Traverse||$1,050||$525||$87|
Ultimately, as the mileage creeps up, it will probably be a good idea to eliminate physical damage coverage (comprehensive and collision) from a policy. As a vehicle depreciates, the cost of maintaining physical damage coverage begins to exceed any benefits of having full coverage.
Removing comprehensive and collision coverage on an older Traverse could save around $638 annually, depending on the level of physical damage deductibles and the driver age.
The best time to drop full coverage is completely different for everyone. Eliminating the coverage means you have no recourse if your Traverse is totaled. So it’s a good idea to have some savings set aside to afford a different vehicle just in case.
Insurance average rates in larger U.S. cities
The cost of insurance for a Traverse spans a large price range, from cheaper premiums like $1,056 a year in Raleigh, NC, or $1,192 in Charlotte, NC, to higher rates like $2,634 a year in Philadelphia, PA, and $2,920 in New Orleans, LA.
The cost of insuring your Traverse in some other cities include Houston, TX, at an estimated $1,720 per year, San Antonio, TX, averaging $1,558, Memphis, TN, at $1,980, and Colorado Springs, CO, costing $1,936.
The chart below ranks average full coverage insurance rates for a Chevrolet Traverse in the most populated areas in the U.S.
|City/State||Annual Rate||Monthly Rate|
|New York, NY||$2,968||$247|
|Las Vegas, NV||$2,630||$219|
|Los Angeles, CA||$2,620||$218|
|San Francisco, CA||$2,268||$189|
|Kansas City, MO||$2,020||$168|
|Oklahoma City, OK||$2,020||$168|
|San Jose, CA||$1,898||$158|
|San Diego, CA||$1,814||$151|
|San Antonio, TX||$1,558||$130|
|Fort Worth, TX||$1,508||$126|