Compare the Cost of Chevy Bolt Insurance by Model Year and Company

The cost of car insurance for a Chevy Bolt varies significantly depending on the model year and the driver’s age. For a full coverage policy, a 16-year-old can expect to pay around $6,882 per year on average for a 2017 model and $7,185 for a 2022 model. Meanwhile, a 40-year-old would pay only $1,499 for the 2017 model and $1,571 for the 2022 model. To help consumers make the right decision, MoneyGeek analyzed the best insurance providers for a Chevy Bolt, considering cost, service quality and claims experience.

A Chevy Bolt costs $1,584 a year on average to insure. If you're looking for the most affordable car insurance, comparing different providers' rates is essential. For instance, State Farm offers the cheapest annual premium for full coverage at an average of $1,196, while Progressive is the most expensive at $1,993. State Farm is also the cheapest for minimum coverage policies at $493 per year, while Nationwide has the highest rate at $768.

When determining rates for specific car models, car insurance companies will look at various factors, including horsepower, theft rates, repair costs and the car’s overall value.

Generally, the Chevy Bolt has moderately expensive premium costs. Its status as an electric car means it is more costly to repair than standard vehicles, increasing the price of its premiums.

Cost is an important factor when purchasing insurance for your Chevy Bolt, but it should not be the only consideration. In addition to price, you should look for a car insurer with excellent customer service, good claims experience and quality coverage. The following are the best car insurance companies for a Chevy Bolt:

• State Farm: MoneyGeek score 90 out of 100 ($1,196 per year)
• Travelers: MoneyGeek score 90 out of 100 ($1,273 per year)

State Farm ranks highly for affordability and customer satisfaction to emerge as the best auto insurance company for a Chevy Bolt.

The price of insuring your Chevy Bolt varies depending on the car’s age. The average yearly cost for a full coverage policy for a 2017 model is $1,499 while insuring a 2022 model is slightly more expensive at $1,571. This difference is because newer cars are typically pricier to insure than older models since the value of a vehicle depreciates over time.

Regardless of the model year of your car, the average cost of car insurance differs between providers. State Farm is the most budget-friendly choice for a Chevy Bolt, whether released in 2017 or 2022. On average, for a full coverage policy, you'll pay $1,118 per year for the 2017 model and $1,237 yearly for the 2022 model from this provider.

When calculating the cost of insurance for a Chevy Bolt, providers take into account more than just the car's age. Providers also consider the driver’s age, as car insurance for teens and young adults is usually more expensive than policies for drivers in their 30s and 40s. The average annual rate for a 16-year-old with full coverage is $7,065, while a 40-year-old driver would only pay $1,543 for the same policy. Rates for teen drivers decrease considerably each year they age and then stabilize in their 20s.

By comparing different providers, you can find cheaper premiums. State Farm offers a full coverage policy for 16-year-old drivers of the Chevy Bolt at $4,000 per year on average, whereas Progressive charges $12,287 for the same plan. Note that these are individual rates and that car insurance for teens can be significantly cheaper if teens are added to a family plan instead.