Chevrolet Bolt EV Car Insurance Cost

Are you looking for a new or used Chevrolet Bolt EV? And wondering how much it costs to insure by year? We researched average annual car insurance costs for each model year and have compiled the results for you below.

Chevrolet Bolt EV insurance facts

• Average full coverage auto insurance premium: $133/month

• Most affordable companies: Nationwide ($115/month) & GEICO ($119/month)

• Bolt EV insurance cost vs. average rates: $17 less expensive than the average vehicle

Explore the pricing information below to find how much it will cost you to insure your Chevy Bolt EV by model year and auto insurer.

Make sure to comparison shop before making a new car purchase to save money. 

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Below average Chevrolet Bolt EV insurer costs by state:

• Arizona car insurance – $979 per year

• Kentucky car insurance – $1,230 per year

• Florida car insurance – $1,659 per year

• Georgia – $1,627 per year

• New York – $1,769 per year

• New Mexico – $1,006 per year 

Risk factors affecting Chevrolet Bolt EV car insurance rates

The make and model of your vehicle, along with the year of manufacture, are the three most important factors in determining your car’s value, which in turn is the main factor in determining your car insurance premium. Your own personal driving history, age, marital status, credit score, type of vehicle, coverage levels, and other personal factors are also important components of your rate.

How to save money on Chevy Bolt EV car insurance coverage?

Many driver discounts are available to people through most major auto insurance companies, such as

• Student discounts

• Safe drivers

• Senior discounts

With all Chevrolet models, you can get the following car insurance discounts:

• Passive restraint systems

• Anti-lock brakes

• Anti-theft devices

Chevrolet automobile brand

Chevrolet or referred to as Chevy, is a vehicle brand of General Motors specializing in popular, affordable cars for the United States market. The target market of Chevy is middle-class customers and the more affluent for higher-end models such as Cadillac. Chevrolet focuses on high quality, advanced technology, creative designs, and affordability. All Chevrolet automobiles have high safety ratings, with many of their cars getting “Top Safety Pick” and 5-star safety and crash test ratings from the National Highway Traffic Safety Administration (NHTSA). The Chevrolet Corvette, Tahoe, Silverado, and Suburban are some of their most popular vehicles.

Higher than average Chevy Bolt EV repair costs equal higher coverage rates

Many consumers are attracted to Chevrolet’s creative designs, increased fuel efficiency, and driver-assist technologies, like Chevy’s Enhanced Driver Alert Package. Automotive parts are common but generally more expensive than popular vehicles, like the Toyota, Honda, or Subaru. Repairing a Chevrolet is higher than average since repair parts are slightly more expensive. For this reason, many Chevrolets are going to have higher than average car insurance rates to similar cars in their class.

Rapid depreciation for Chevrolet Bolt EV affecting auto policies

Another factor to consider for Chevrolets is rapid depreciation, affecting auto insurance rates. As your vehicle’s value goes down each year, your auto policy could go down at each renewal. On the other hand, in an auto accident, you need repair parts that rarely go down in price for all Chevy models. This could put you in a difficult situation position since many car insurance companies will subtract depreciation from the amount paid for your insurance claim resulting in a situation where your claim payout doesn’t fully cover your repair cost.

High IIHS and NHTSA safety ratings decreasing car insurance rates for drivers

Chevrolets are known for their safety ratings, safety features, 5-star crash test ratings, driver-assist technologies such as the Driver Alert Technology Package, and lower auto insurance rates for drivers with a good driving record, sometimes getting 20% driver discounts for passive restraints and safety features for most Chevrolet models. The Chevrolet Equinox, Cruze, and Bolt EV are the Insurance Institute for Highway Safety (IIHS) “Top Safety Picks,” and the NHTSA consistently gives Chevy automobiles top safety ratings each year, lowering your car insurance costs.

AutoInsureSavings.org licensed car insurance agents to recommend comprehensive and collision coverage, uninsured motorist coverage, and roadside assistance for new Chevrolet automobile owners when buying a car insurance policy.

Make sure to shop around with multiple car insurance carriers before making a new car purchase.