The average cost of car insurance for a Chevy Bolt is $1,529 per year. Compared to the average car model, Chevy Bolt insurance rates are relatively expensive. However, rates can vary widely depending on your insurer and car model. Shop around to make sure you’re getting the best deal possible.
Compare the Cost of Chevy Bolt Insurance by Model Year and Company
Each insurer provides a different Chevy Bolt insurance quote. Comparing prices from different auto insurance carriers can help you find the best policy for your needs.
The average insurance rate for a Chevy Bolt is $1,529 per year, which is $102 more than the average annual cost across all car models.
Chevy Bolt insurance premiums can change by $1,123 annually, depending on your auto insurance provider.
The cost of insurance for a Chevy Bolt may fluctuate up to $41 depending on how old the car is. Older models tend to have lower car insurance rates.
How Much It Costs to Insure a Chevy Bolt and the Cheapest Company
How much your Chevy Bolt insurance is depends on your insurer. The average annual cost of insurance for a Chevy Bolt is $1,529, but rates may vary among carriers. GEICO has the cheapest average insurance rate at $1,065 per year. Allied offers the most expensive insurance, at an average of $2,188 per year — that’s a potential difference of $1,123.
The Average Annual Cost of Chevy Bolt Insurance by Company
MoneyGeek’s sample premiums are based on average rates for a sample driver profile from multiple auto insurance providers. This profile is for a driver who has 100/300/100 liability insurance with comprehensive and collision coverage.
The Average Cost to Insure a Chevy Bolt by Company
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Is a Chevy Bolt Expensive to Insure?
There are a variety of factors car insurance providers use to determine Chevy Bolt insurance rates. For instance, the value of the vehicle and its designation can affect premiums.
The Chevy Bolt is expensive to insure, largely because it is an electric car. Auto insurance companies usually charge more to insure electric cars because of higher repair costs.
The Best Car Insurance Company for a Chevy Bolt
It is important to consider a Chevy Bolt’s insurance cost when looking for a policy. However, it shouldn’t be the only determining factor for finding the best car insurance company for your needs.
Based on MoneyGeek’s rating system, which considers affordability, customer complaints, customer satisfaction and financial stability:
- USAA is the best insurance company for a Chevy Bolt. However, only military members and their families qualify for USAA policies.
- GEICO has the second-highest score and is a great option for non-military members.
How Much It Costs to Insure a Chevy Bolt by Model Year
Typically, Chevy Bolt insurance rates are slightly cheaper for older models. The value of a car depreciates over time, so collision and comprehensive insurance for older Chevy Bolt models are less costly. The average cost of auto insurance for a 2017 Chevy Bolt is $1,517 annually, while a 2020 Chevy Bolt is $17 more at $1,534.
Insurers may offer cheaper options depending on your Chevy Bolt model. For the most recent model, the 2020 Chevy Bolt, GEICO offers the lowest rate at $1,075 per year. Check how other auto insurance rates compare for your Chevy Bolt’s model year below. The cheapest company can change depending on the vehicle version.
The Average Cost to Insure a Chevy Bolt by Model Year
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- CompanyAverage Annual Rates (2020 model)Average Annual Rates (2019 model)Average Annual Rates (2018 model)Average Annual Rates (2017 model)
How Expensive Is It to Insure a Chevy Bolt Compared to Other Cars?
Chevy Bolt insurance rates are on the expensive side. The average cost to insure a Chevy Bolt is $1,529 per year. This cost is $102 more than the average $1,427 premium across all models. However, these insurance rates are still well below the average insurance rates for other luxury brands, like Tesla and BMW.
How Much It Costs to Insure a Chevy Bolt for 16- to 25-Year-Olds
Young drivers are considered inexperienced, so auto insurance providers tend to charge them higher insurance rates. For instance, the average 18-year-old driver with a Chevy Bolt pays $4,992 per year for insurance. A similar policy typically costs only $1,530 for a 40-year-old. See average Chevy Bolt insurance rates for young drivers aged 16 to 25 below.
Being on the same policy as their parents can help teens save money on car insurance. Generally, paying for a separate policy is a much more expensive option for young drivers than being added to their parent’s auto insurance.
The Average Cost to Insure a Chevy Bolt by Driver Age
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- AgeAverage Annual Rates
How Does Location Affect the Cost of Chevy Bolt Insurance?
The sample premiums listed on this page are national averages and should only serve as a guide for drivers. Your location will also play a role in determining your Chevy Bolt insurance costs. Learn more about the cost of car insurance in individual states with MoneyGeek’s state page analysis.
FAQs About Chevy Bolt Insurance
Car insurance companies consider the model of a car to determine the price of a policy. However, this is only one of many factors taken into account. Check out some of the most common questions about Chevy Bolt insurance costs below.
Read More About Car Insurance
MoneyGeek collected rates from different car insurance companies for a Chevrolet Bolt EV LT across all available model years for a full coverage policy with:
- $100,000 in bodily injury liability insurance per person
- $300,000 in bodily injury liability insurance per accident
- $100,000 in property damage liability insurance per accident
- Comprehensive and collision insurance with a $1,000 deductible
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