- Hummer EV insurance costs an average of $1,914 per year, or around $160 per month for full coverage.
- Drivers can find the cheapest insurance on the EV2 trim at $1,798 per year.
- The Hummer EV Edition1 has the highest rates at $2,004 per year.
- Out of nine other large SUVs in the 2022 model year, the Hummer EV ranks #8 for insurance cost.
How much does GMC Hummer EV insurance cost?
Drivers can plan on paying about $1,914 annually to insure a 2022 GMC Hummer EV. Rates can range from as low as $1,334 up to $2,792 or more, hover, depending on the state you live in.
Average monthly insurance cost for the Hummer ranges from $150 to $167, depending on the trim level being insured. The cheapest EV2 trim (MSRP of $79,995) is the cheapest model to insure, while the more expensive Edition1 model (MSRP of $105,595) costs the most to insure.
The bar chart below illustrates how other factors such as driver age, policy limits, and driving record can impact average Hummer EV auto insurance prices.
|Driver Age||Deductible||Annual Cost||Monthly Cost|
As mentioned above, the trim level you’re insuring can cause rates to be more or less than the average rate. The table below shows the average cost to insure each trim level for the 2022 GMC Hummer EV.
|GMC Hummer EV Trim Level||Annual Policy||6-month Policy||Per Month|
Is GMC Hummer EV insurance expensive?
The GMC Hummer EV ranks #8 out of nine total vehicles in the 2022 large SUV class for most affordable car insurance cost. The Hummer EV costs an estimated $1,914 per year for an auto insurance policy with full coverage, while the class average policy cost is $1,707 per year, a difference of $207 per year.
When compared directly to some other full-size SUVs, insurance prices for a GMC Hummer EV cost $396 more per year than the Chevrolet Tahoe, $306 more than the Ford Expedition, and $230 more than the GMC Yukon.
The table displayed below shows how insurance cost for a GMC Hummer EV compares to the rest of the large SUV segment.
|8||GMC Hummer EV||$1,914||--|
|9||Jeep Grand Wagoneer||$2,014||$100|
Additional rates and observations
Additional key data observations regarding the cost of insurance for a GMC Hummer EV include:
- Older drivers tend to pay cheaper insurance rates. The difference in insurance rates for a 2022 Hummer EV between a 60-year-old driver ($1,712 per year) and a 20-year-old driver ($3,828 per year) is $2,116, or a savings of 55.3%.
- Car insurance is expensive for high-risk drivers. For a 20-year-old driver, having enough accidents and violations to require a high-risk insurance policy could inflate rates by $2,978 or more per year.
- Avoiding accidents saves money. At-fault accidents increase insurance cost, potentially up to $2,696 per year for a 20-year-old driver and even as much as $782 per year for a 40-year-old driver.
- Improve your credit rating to save on insurance. Having an excellent credit score over 800 could save an average of $300 per year when compared to a credit score between 670-739. Conversely, a below average credit score could cost around $348 more per year.
- Your job could lower your rates. Some auto insurance companies offer policy discounts for working in professions like scientists, police officers and law enforcement, college professors, dentists, members of the military, and others. If you’re employed in a qualifying profession, you could potentially save between $57 and $158 on your yearly Hummer EV insurance premium.
- Teenage drivers are expensive to insure. Average rates for full coverage Hummer EV insurance costs $6,776 per year for a 16-year-old driver, $6,378 per year for a 17-year-old driver, $5,970 per year for a 18-year-old driver, and $5,428 per year for a 19-year-old driver.
- Get cheaper rates by researching policy discounts. Discounts may be available if the policyholders sign their policy early, work in certain occupations, drive a vehicle with safety or anti-theft features, insure their home and car with the same company, are homeowners, or many other policy discounts which could save the average driver as much as $326 per year on GMC Hummer EV insurance.