Chevrolet sold 1,468,889 vehicles in 2021 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 2021 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. The following factors may affect how much you pay for your car insurance.
- 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.
- Body style: The model of your Chevrolet will factor into your insurance cost. For instance, it may be more expensive to insure a Chevy Corvette Stingray, which is a fast sports car, than to insure a Chevy Equinox, a compact SUV. Insurance providers typically consider fast cars to be at greater risk for future claims.
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 may be 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|
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 car insurance 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|
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 air bags 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|
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|
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 in part explain the model’s low full coverage insurance rates – the cheapest of any vehicle in this article.
|Chevrolet Traverse car insurance||Average annual premium|
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, 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|
Chevrolet features that impact insurance costs
Common Chevrolet safety features that may lower insurance costs include:
- Adaptive cruise control: This feature allows you to automatically 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
Many policyholders purchase car insurance beyond the minimum liability requirements in their state. Certain car insurance coverage options can help protect your finances in the event of a car accident. For instance, you can purchase collision coverage, which is designed to pay out when you collide with another vehicle. Comprehensive coverage is designed to pay out for covered losses due to weather damage, vandalism or hitting an animal.
You can also add optional coverage types like roadside assistance, which sends assistance if your car breaks down, runs out of fuel or if you lock your keys inside the car. You may also be interested in purchasing gap coverage, which pays the difference between what you owe on your new vehicle and what it’s worth in the event of an accident.
Once you decide which coverage options you want, you may want to get quotes from multiple providers to find the cheapest car insurance company for you.
Some of Chevrolet’s vehicle lineup are the cheapest cars to insure, while others may be more expensive. Car insurance is based on several factors beyond the value of the car, including your personal driving record, where you live and crime rates in your area and for the make and model you drive.
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.