Cost of Chevrolet Car Insurance (2024)

Chevrolet, an iconic brand with more than a century’s worth of history, has produced some of America’s most beloved vehicles. Insuring Chevy vehicles is often more affordable than insuring many other similar brands. While Chevrolet insurance costs an average of $102 monthly for liability coverage and $193 for full coverage, premiums can vary between models and model years.

If you’re a proud Chevy owner, you understand the importance of protecting your investment. Here’s what you should know about the best and most affordable insurance costs for different Chevy vehicles.

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Cost of Chevrolet insurance by model

Factors such as a car’s model, safety ratings, repair costs, and the likelihood of theft can influence Chevrolet insurance quotes. As you’ll see in the table below, high-performance cars, like the Chevy Camaro, tend to have higher premiums than a more family-friendly car, like the Trailblazer or Equinox.

Cheapest Chevrolet insurance by model

Car insurance can be challenging to navigate, especially when searching for the most cost-effective option. Understanding the average insurance cost by manufacturer model can give any Chevrolet owner a competitive edge. Here are the cheapest insurance options for some of the most popular Chevy models.

Chevrolet Silverado

The Chevrolet Silverado was the bestselling car in the United States in 2022.^[1] For the 2024 model, the manufacturer’s suggested retail price (MSRP) ranges between $36,800 and $69,900, depending on trim choices, bed size, and customizations. 

The Ford F-150 is about the same, with an MSRP of $36,570, while the GMC Sierra 1500 kicks off with an MSRP of around $37,700.^[2]

Chevrolet Equinox

The Chevrolet Equinox is a versatile compact SUV, with more than 52,000 sold in the first six months of 2023. But it faces fierce competition. Its MSRP ranges from $26,600 to $31,800, making the 2024 Equinox the most affordable option among its rivals. But it lacks the premium feel of some competitors.

For context, the Honda CR-V’s MSRP spans from $29,500 to $39,500, and the Toyota RAV4, which ranked as America’s No. 3 bestselling vehicle in 2022, has a starting price of $27,575.^{[1] [2]}

Chevrolet Traverse

The Chevrolet Traverse, a three-row midsize SUV, previously lagged behind rivals. However, its 2024 redesign offers more space and costs about $37,000. Competitors like the Honda Pilot, Toyota Highlander, and award-winning Kia Telluride also hover in the mid-to-high $30K bracket. But the Toyota Grand Highlander jumps ahead, with a starting MSRP of more than $43,000.^[2]

Chevrolet Corvette

The 2024 Chevrolet Corvette turns heads with its price tag. Its MSRP ranges from $68,300 for the 1LT Coupe and goes up to $117,100 for the Z06 Convertible. It costs a lot more than its rivals, even for the base model. 

For instance, the Ford Mustang’s MSRP has an entry point of $30,920, while the 2023 Dodge Challenger starts at $30,545.^[2]

Chevrolet Camaro

An iconic American muscle car, the Chevrolet Camaro has a baseline MSRP of $30,900. This price point makes it the most budget-friendly among similar models. However, if you’re eyeing the top-tier ZL1 model, the MSRP more than doubles to $72,100. 

For perspective, the luxury-driven BMW Z4 begins with an MSRP of $53,600, and the Toyota Supra’s starting price is $45,540.^[2]

Chevrolet Impala

The Chevrolet Impala is Chevy’s bestseller ever, with more than 13 million units sold. It’s no longer in production, but many used models are available from Chevy dealers and private parties, with prices from $7,800 for a 2017 model to $21,600 for a 2022 model.^[3]

If you want a new Chevrolet vehicle similar to the Impala, consider a Malibu. It’s more fuel-efficient, with a smaller engine and a 2024 MSRP beginning at $25,100. The Toyota Crown is an option for a large sedan, with a baseline MSRP of $40,050.^[2]

Chevrolet Trailblazer

One of the most wallet-friendly SUVs out there, the Chevrolet Trailblazer pulls ahead of similar models with features like wireless Android Auto and Apple CarPlay. With a starting MSRP of $23,100 for 2024, it’s cheaper than its competitors, although higher trims can reach $28,395.

The Honda HR-V begins at $24,100, the Kia Seltos at $24,390, and the pricier Mazda CX-30 starts at $24,995.^[2]

Chevrolet Trax

After taking a break in 2023, the Chevy Trax makes a return, revamped and ready. This budget-friendly crossover SUV now sports a larger design, offering more room for passengers and cargo. The 2024 Trax begins with an MSRP of $20,400, and even its most premium version is only priced at $23,900.^[2]

While it’s easier on the wallet than the Chevrolet Trailblazer, it goes toe-to-toe with competitors like the Hyundai Kona at $24,100, the Nissan Kicks at $22,125, and the Mazda CX-30 at $24,995.^[2]

Best companies for Chevrolet car insurance

No matter which Chevy model you drive, picking a reliable and affordable insurer makes all the difference. Your rates can depend on the car you choose, but factors like age, location, and driving history also play a role. However, USAA, State Farm, and GEICO consistently top the list of the most budget-friendly options for Chevrolet owners.

Best for military members: USAA

Best for customer satisfaction: State Farm

Best for drivers older than 25: GEICO

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Chevrolet car insurance coverages

Knowing the types of coverage available is important when looking to insure your Chevrolet. This way, you can make sure you’re protected in various situations. Here’s a breakdown of some coverages you might consider:

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  Collision coverage

  Collision coverage pays to repair or replace your Chevy if a crash causes damage. It can foot the bill if you hit another car or an object like a tree or lamppost, ensuring you’re not left covering all the repair expenses alone.

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  Comprehensive coverage

  Beyond just accidents, you may face other risks, like theft, vandalism, and natural disasters. Comprehensive insurance steps in to cover these non-collision damages to your car, offering peace of mind for unexpected incidents.

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  Liability coverage

  If you cause an accident and someone else gets hurt, or their property is damaged, liability coverage will help pay for those costs. It’s a great way to protect yourself from out-of-pocket expenses. Most states require drivers to carry liability insurance so victims aren’t left with a financial burden.

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  Personal injury protection (PIP) coverage

  Personal injury protection (PIP) coverage pays for medical bills, lost wages, and related expenses if you’re hurt in an accident, no matter who’s at fault.

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  Uninsured/underinsured motorist coverage

  Uninsured/underinsured motorist coverage will pay your medical bills and associated expenses if you get injured in an accident that an uninsured or underinsured driver causes.

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