Car insurance for Chevys

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Chevrolet sold 1,730,033 vehicles in 2020 alone. If you recently purchased a Chevy, you may be wondering what the best insurance for your vehicle is. Of course, the make and model of your vehicle is not the only factor that may influence your decision. Your personal preferences on categories such as digital app experience, customer service, coverage options and available discounts are important considerations.

The average cost of full coverage car insurance is $1,674 per year, according to Bankrate’s study of quoted annual premiums provided by Quadrant Information Services. However, the exact price you will pay depends on a variety of factors including age, driving history and, in some states, gender and credit score.

Models included in this review:

  • Chevrolet Cruze
  • Chevrolet Equinox
  • Chevrolet Malibu
  • Chevrolet Silverado
  • Chevrolet Traverse

How much does it cost to insure a Chevrolet?

The average cost of full coverage car insurance is $1,674 per year based on a 2019 Toyota Camry. When you factor in the make and model of your vehicle, the average cost for insuring a vehicle often changes. Insurance providers view certain vehicles as higher risk than others. For instance, a car equipped with the latest safety features would likely be cheaper to insure than a fast sports car with a high claims risk. Luckily, new Chevrolets boast a wide range of safety features:

  • Price of parts: American-made vehicles like Chevrolet have cheaper parts, which tends to make them cheaper to fix. For that reason, insurance premiums may be lower for cars with cheaper parts.
  • Safety features: Chevrolet’s plentiful safety features – such as 24/7 OnStar assistance, safety alert seats, automatic emergency braking and following distance indicator – may contribute to lower auto insurance premiums.

Car insurance for Chevrolet: by model

According to the quotes received for the average cost of full coverage car insurance per year, the cheapest Chevrolet to insure of the models we gathered quotes for is the Traverse, followed by the Equinox.

Car insurance for Chevrolet Cruze

Though the Cruze was discontinued in North America recently, this economical sedan or hatchback is still available, which is great news for those looking for an inexpensive vehicle. The car’s crash avoidance systems were ranked “basic” by the IIHS, which may increase your insurance premium slightly. However, average Chevy Cruze rates hover around the national average.

Chevrolet Cruze car insurance Average annual premium
Minimum coverage $527
Full coverage $1,642

Car insurance for Chevrolet Equinox

The Chevrolet Equinox is considered an SUV crossover, with great gas mileage and ample cargo space with lots of room for a family and their belongings. Chevy Safety Assist comes standard with the 2021 model, which can drive down costs with additional discounts. The IIHS scored the vehicle’s front crash prevention system “superior,” which may contribute to the Equinox’s low insurance premiums.

Chevrolet Equinox car insurance Average annual premium
Minimum coverage $495
Full coverage $1,467

Car insurance for Chevrolet Malibu

The Chevrolet Malibu has five different trim packages to tailor your car to your tastes and needs. This sedan offers lots of standard safety features, including multiple airbags to help keep you and your family safe during an accident, daytime running lamps, electronic grade braking (hill assist) and more. The average Chevrolet Malibu full coverage insurance premium is slightly higher than the national average, while minimum liability coverage is slightly less expensive.

Chevrolet Malibu car insurance Average annual premium
Minimum coverage $504
Full coverage $1,749

Car insurance for Chevrolet Silverado

The Chevrolet Silverado has been one of Chevy’s top sellers for years, according to GM Authority. The Silverado can be a good pickup truck to use for work, towing a family camper or just enjoying on the open road. With multiple options for trim packages and engine choices, it’s easy to customize the Silverado for your needs. The 2021 Chevrolet Silverado 1500’s optional crash avoidance and mitigation system scored a “superior” rating from IIHS. Keep in mind that this could help you save on your premium. Overall, Silverado rates fall near the national averages for full and minimum liability coverage.

Chevrolet Silverado car insurance Average annual premium
Minimum coverage $585
Full coverage $1,682

Car insurance for Chevrolet Traverse

The Chevrolet Traverse has seating for up to eight people without taking away the cargo space larger families need. With seven different trim packages and optional all-wheel drive (front-wheel drive is standard), it’s easy to see why the Traverse is also in the list of top five best-sellers for Chevy. The Chevy Traverse’s optional crash prevention measures were scored “superior” by IIHS, which could explain the model’s low full coverage insurance rates – the cheapest of any vehicle in this article.

Chevrolet Traverse car insurance Average annual premium
Minimum coverage $506
Full coverage $1,444

Cheapest car insurance companies for Chevrolets

We compared quotes from the five best car insurance companies for Chevrolets. We found that USAA has the cheapest rates for both liability-only and full coverage annual premiums. If you don’t meet the criteria to join USAA (they only provide insurance for military members, veterans and their family), Amica and Geico are second cheapest for minimum liability and full coverage, respectively. However, it is worth noting that rates will vary by driver based on your personal criteria and so the cheapest option for you may differ.

Average annual premium for full coverage by model

Car insurance company Chevrolet Cruze Chevrolet Equinox Chevrolet Malibu Chevrolet Silverado Chevrolet Traverse
Amica $1,326 $1,199 $1,438 $1,230 $1,097
Erie $1,320 $1,306 $1,355 $1,274 $1,349
Geico $1,286 $1,217 $1,477 $1,317 $1,191
State Farm $1,416 $1,264 $1,495 $1,440 $1,288
USAA $1,072 $1,061 $1,239 $1,134 $1,132

Chevrolet features that impact insurance costs

Common Chevrolet safety features that may lower insurance costs include:

  • Adapted cruise control: This feature allows you to maintain a certain amount of feet behind the car in front of you. If the driver in front of you brakes, your car will do the same.
  • Forward collision alert: This feature uses sensors to alert the driver when a vehicle ahead is too close. If you are quickly approaching a vehicle and not braking, your car will give you an audio alert. Forward collision alert will not brake for you.
  • Teen driver safety measures: These features include a system called Buckle-to-Drive which prevents the vehicle operator from driving until their seatbelt is fastened.

Other car insurance coverage for Chevrolet

Insurance experts recommend purchasing coverage options beyond the minimum liability limits required by your state. Car insurance coverage can protect you from having to self-insure if you’re at-fault in an accident or injured because of someone else’s negligence. Though it’s tempting to go with the cheapest car insurance company, make sure they have the coverages and limits you need to protect yourself financially in an accident.

Some of Chevrolet’s lineup of vehicles are the cheapest cars to insure, while others may be more expensive. Car insurance is based on a number of factors other than the value of the car, including your personal driving record, where you live and crime statistics in your area and for the make and model you drive.

Popular insurance coverage options include roadside assistance, which guarantees assistance if your car breaks down, runs out of fuel, the battery dies or you lock your keys in the car. Other insurance options include gap insurance which will pay the difference between what you owe on your lease and what a vehicle is worth. If you aren’t sure what additional coverage you might need, you may want to speak with a licensed insurance agent.

Methodology

Bankrate utilizes Quadrant Information Services to analyze 2021 rates for all ZIP codes and carriers in all 50 states and Washington, D.C. Quoted rates are based on a 40-year-old male and female driver with a clean driving record, good credit and the following full coverage limits:

  • $100,000 bodily injury liability per person
  • $300,000 bodily injury liability per accident
  • $50,000 property damage liability per accident
  • $100,000 uninsured motorist bodily injury per person
  • $300,000 uninsured motorist bodily injury per accident
  • $500 collision deductible
  • $500 comprehensive deductible

To determine minimum coverage limits, Bankrate used minimum coverages that meet each state’s requirements. Our base profile drivers commute five days a week, drive 12,000 miles annually and were evaluated using the following cars:

  • 2019 Chevrolet Cruze
  • 2019 Chevrolet Equinox
  • 2019 Chevrolet Malibu
  • 2019 Chevrolet Silverado
  • 2019 Chevrolet Traverse

These are sample rates and should only be used for comparative purposes.

Written by
Lizzie Nealon
Insurance Writer
Lizzie Nealon is an insurance writer for Bankrate. Her favorite part of the job is making home, auto and life insurance digestible for readers so they can prepare for the future.
Edited by
Insurance Editor