Chevrolet Traverse Insurance on a Tight Budget: Find Out How

• Chevy Traverse insurance rates cost $1,770 per year for a full coverage policy on average, depending on the trim level.
• The Traverse ranks 11^th out of 34 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 $1,672 per year. The Traverse RS AWD is the most expensive to insure at $1,872 per year.
• Insuring a used Chevy Traverse could reduce the cost of insurance by around $640 or more each year.

How much does Chevrolet Traverse car insurance cost?

On average, Chevrolet Traverse car insurance costs $1,770 per year, which is the equivalent of $148 a month. Depending on the trim level being insured, monthly car insurance rates for a 2024 Traverse range from $139 to $156.

Comprehensive (or other-than-collision) coverage is an estimated $454 a year, collision coverage costs approximately $728, and the remaining liability and medical payments insurance costs approximately $588.

The chart below displays average car insurance rates for a 2024 Chevy Traverse using different driver ages and risk profiles.

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 seven Traverse models and all 41,692 zip codes in the U.S., the chart would show about 677,376,000,000 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 $14,824 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 2024 Chevy Traverse ranks 11^th out of 34 total comparison vehicles in the midsize SUV segment. The Traverse costs an estimated $1,770 per year to insure for full coverage and the class median rate is $1,874 per year, an extra cost of $104 per year for the Traverse.

When compared to the top-selling other midsize SUVs in America, Chevrolet Traverse car insurance costs $128 less per year than the Jeep Grand Cherokee, $42 more than the Toyota Highlander, $48 more than the Ford Explorer, and $78 less than the Honda Pilot.

The table below shows how average Chevy Traverse insurance rates compare to the rest of the 2024 midsize SUV class like the new Kia Telluride, the Honda Passport, and the Hyundai Santa Fe.

With an average MSRP of $45,857, ranging from the cheapest LS 2WD model at $39,000 to the most expensive RS AWD costing $54,500, 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 2024 model year are the Chevrolet Blazer, Kia Telluride, GMC Acadia, and Mitsubishi Outlander PHEV. Here’s how those models compare to the Traverse for overall purchase price and insurance cost.

• Chevrolet Traverse vs. Chevrolet Blazer – The 2024 Chevrolet Blazer retails for an average of $46,128, ranging from $36,795 to $65,995, which is $271 more expensive than the Chevrolet Traverse. Full-coverage insurance on the Chevrolet Blazer costs an average of $188 more every 12 months than the Chevrolet Traverse.
• Chevrolet Traverse vs. Kia Telluride – The 2024 Chevrolet Traverse has an average MSRP that is $421 cheaper than the Kia Telluride ($45,857 versus $46,278). The average insurance cost for a Chevrolet Traverse compared to the Kia Telluride is $208 less every 12 months.
• Chevrolet Traverse vs. GMC Acadia – With an average sticker price of $45,365 ($39,990 to $51,990), the GMC Acadia costs $492 less than the MSRP for the Chevrolet Traverse. Buying insurance for the GMC Acadia costs an average of $62 more each year than the Chevrolet Traverse.
• Chevrolet Traverse vs. Mitsubishi Outlander PHEV – The average MSRP for a 2024 Chevrolet Traverse is $504 more expensive than the Mitsubishi Outlander PHEV, at $45,857 compared to $45,353. Expect to pay around $14 more per year for insurance on the Mitsubishi Outlander PHEV 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 $1,672 per year. The next cheapest trim is the LS AWD at $1,708 per year, and the third cheapest trim level to insure is the LT 2WD at $1,726 per year.

The three highest cost Traverse models to insure are the Traverse Z71 AWD, the RS 2WD, and the RS AWD trim levels at $1,808,  $1,854, and $1,872 per year, respectively.

The table below shows the average annual and 6-month car insurance policy costs for each Traverse trim package, including a monthly rate.

New versus used insurance rates

Bypassing the 2024 model and instead driving a 2018 Chevrolet Traverse could cut your insurance cost by $390 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 2024 model years.

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 $664 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 $1,172 a year in Raleigh, NC, or $1,308 in Charlotte, NC, to higher rates like $2,698 a year in Philadelphia, PA, and $2,946 in New Orleans, LA.

The cost of insuring your Traverse in some other cities include Houston, TX, at an estimated $1,814 per year, San Antonio, TX, averaging $1,662, Memphis, TN, at $2,068, and Colorado Springs, CO, costing $2,026.

The chart below ranks average full coverage insurance rates for a Chevrolet Traverse in the most populated areas in the U.S.