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Key Takeaways
- Insurance for a Chevy Bolt EV costs an average of $1,800 annually or $150 per month.
- The cheapest insurance provider for Chevy Bolt is Travelers, which costs an average of $1,584 per annum.
- The car insurance premium rates are higher for young adults and those with poor credit.
Chevy Bolt Auto Insurance Cost
The Chevy Bolt is known for its spacious interior, smooth acceleration, and advanced technology, making it a practical choice for city and highway driving. However, you should be careful when choosing an insurance policy for your Chevy Bolt. The wrong provider can cause you a huge loss.
On average, Chevy Bolt insurance will cost $1,800 per year. However, there are ways you can cut costs on your Chevy Bolt insurance policy – especially by choosing the right kind of service provider.
It's now easier than ever to get a free quote for your Chevy Bolt- use Way.com to find multiple vetted insurance providers and compare deals in just minutes!
What impacts the cost of Chevy Bolt Auto Insurance?
Your Chevy Bolt insurance rates can be affected by a number of factors , such as,
- The driver's age
- The driver's gender
- The city you are in
- The age of the car
- Trim level of the car
- The insurance company you choose
Chevy Bolt Insurance Cost by Age
Teenagers pay higher premium rates for their Chevy Bolt than the rest of the age group. The premium rates for teenagers at different ages range from $9,599 to $7,906. This is often because of their relatively shorter driving history. Senior citizens pay around four times lesser premiums compared to teenagers.
| Age | Average Monthly Rate | Average Annual Rate |
|---|---|---|
| 17 | $799.92 | $9,599 |
| 18 | $745.50 | $8,946 |
| 19 | $658.83 | $7,906 |
| 20 | $574.42 | $6,893 |
| 21 | $481.75 | $5,781 |
| 22 | $469.17 | $5,630 |
| 23 | $410.50 | $4,926 |
| 24 | $390.00 | $4,680 |
| 25 | $336.58 | $4,039 |
| 30 | $262.17 | $3,146 |
| 35 | $245.58 | $2,947 |
| 40 | $236.17 | $2,834 |
| 45 | $229.83 | $2,758 |
| 55 | $210.75 | $2,529 |
| 65 | $219.83 | $2,638 |
| 75 | $277.50 | $3,330 |
Chevy Bolt Insurance Cost by Model Year
Generally, older car models cost less to insure than newer models. However, some of the older Chevy Bolt models cost more to insure than the older models due to factors such as higher repair costs, limited availability of replacement parts, and safety features that may not meet current standards.
The average auto insurance premium for a 2023 Chevy Bolt is $1,107/year compared to $750/year for the 2017 model.
| Model Year | Average Monthly Premium | Average Annual Premium |
|---|---|---|
| 2023 Chevy Bolt | $92.32 | $1,107.83 |
| 2022 Chevy Bolt | $111.11 | $1,333.33 |
| 2021 Chevy Bolt | $81.94 | $983.30 |
| 2020 Chevy Bolt | $72.62 | $871.47 |
| 2019 Chevy Bolt | $100.75 | $1,209.03 |
| 2018 Chevy Bolt | $110.86 | $1,330.30 |
| 2017 Chevy Bolt | $62.54 | $750.43 |
Chevy Bolt Cheapest Insurance Cost by Company
It costs around $1800 per year to insure a Chevy Bolt. However, Travelers offers the cheapest car insurance for Chevy Bolt at $1,584 per annum. Safe Auto is the most expensive insurance provider at $4,235 per annum.
| Company | Average Monthly Rate | Average Annual Rate |
|---|---|---|
| Travelers | $132 | $1,584 |
| Nationwide | $132.67 | $1,592 |
| USAA | $139.17 | $1,670 |
| Erie | $148.08 | $1,777 |
| Auto Owners | $161.08 | $1,933 |
| Westfield | $184.17 | $2,210 |
| State Farm | $189.58 | $2,275 |
| Mercury | $213.58 | $2,563 |
| Progressive | $240.08 | $2,881 |
| Allstate | $268.42 | $3,221 |
| Farmers | $271.75 | $3,261 |
| Safe Auto | $352.92 | $4,235 |
Cheapest Insurance Companies Based on Chevy Bolt Model Years
2023 Chevy Bolt
The average car insurance cost for a 2023 Chevy Bolt is $1,107.83 per year. However, PEMCO offers the cheapest rates,with an annual premium of $875.
| Company | Monthly Premium | Annual Premium |
|---|---|---|
| PEMCO | $72.92 | $875 |
| Capital Insurance Group | $87.17 | $1,046 |
| Unigard | $98.58 | $1,183 |
| Oregon Mutual | $111.33 | $1,336 |
| Chubb | $122.08 | $1,465 |
| Travelers | $123.17 | $1,478 |
| GMAC Insurance Group | $136.00 | $1,632 |
| Penn National | $138.50 | $1,662 |
| USAA | $139.25 | $1,671 |
| Allied | $149.92 | $1,799 |
2022 Chevy Bolt
The average car insurance cost for a 2022 Chevy Bolt is $1,333.33 per year. However, Clearcover offers the cheapest rates, with an annual premium of $318.
| Company | Average Monthly Premium | Average Annual Premium |
|---|---|---|
| Clearcover | $26.50 | $318 |
| Pekin Insurance | $70.25 | $843 |
| Plymouth Rock | $81.67 | $980 |
| Partners Mutual Insurance Co | $110.25 | $1,323 |
| New Jersey Manufacturers | $112.92 | $1,355 |
| North Carolina Farm Bureau | $119.58 | $1,435 |
| Buckeye Insurance Group | $121.42 | $1,457 |
| SECURA Insurance | $123.00 | $1,476 |
| PEMCO | $133.25 | $1,599 |
| Hastings Mutual Insurance Co | $136.00 | $1,632 |
2021 Chevy Bolt
The average car insurance cost for a 2021 Chevy Bolt is $983.30 per year. However, Mercury Insurance offers the cheapest rates, with an annual premium of $233.
| Company | Average Monthly Premium | Average Annual Premium |
|---|---|---|
| Mercury Insurance | $19.42 | $233 |
| Kemper Auto Infinity | $23.67 | $284 |
| Safeco | $30.83 | $370 |
| Plymouth Rock Assurance | $68.75 | $825 |
| Norfolk and Dedham Group | $69.75 | $837 |
| Safety Group | $69.75 | $837 |
| ACE American Pool | $88.92 | $1,067 |
| Arbella Insurance Group | $89.50 | $1,074 |
| SECURA Insurance | $90.17 | $1,082 |
| Concord Group | $91.67 | $1,100 |
2020 Chevy Bolt
The average annual insurance cost for a 2020 Chevy Bolt is $871.47. However, Safeco offers the cheapest rates, with an annual premium of $147.
| Company | Monthly Premium | Annual Premium |
|---|---|---|
| Safeco | $12.25 | $147 |
| SafeAuto | $46.92 | $563 |
| Virginia Farm Bureau | $71.42 | $857 |
| North Carolina Farm Bureau | $82.25 | $987 |
| Direct Auto | $95.08 | $1,141 |
| PEMCO | $95.58 | $1,147 |
| Farm Bureau Mutual (IA Group) | $101.75 | $1,221 |
| New York Central Mutual Fire | $102.25 | $1,227 |
| New Jersey Manufacturers | $104.08 | $1,249 |
| Capital Insurance Group | $113.67 | $1,364 |
2019 Chevy Bolt
The average car insurance cost for a 2019 Chevy Bolt is $1,209.03 per year. However, Wolverine Mutual offers the cheapest rates, with an annual rate of $735.
| Company | Average Monthly Premium | Average Annual Premium |
|---|---|---|
| Wolverine Mutual | $61.25 | $735 |
| MO Farm Bureau Services | $94.50 | $1,134 |
| MEEMIC Insurance Company | $100.75 | $1,209 |
| Tennessee Farmers | $123.50 | $1,482 |
| Liberty Mutual | $127.75 | $1,533 |
| 21st Century | $134.25 | $1,611 |
| Pekin Insurance | $138.75 | $1,665 |
| Sentry | $141.00 | $1,692 |
| Donegal Mutual Insurance Co | $141.08 | $1,693 |
| Penn National | $142.42 | $1,709 |
2018 Chevy Bolt
The average annual insurance cost for a 2018 Chevy Bolt is $1,330.30. However, Oregon Mutual offers the cheapest rates, averaging $867 per year.
| Company | Monthly Premium | Annual Premium |
|---|---|---|
| Oregon Mutual | $72.25 | $867 |
| New Jersey Manufacturers | $75.25 | $903 |
| SafeAuto | $88.00 | $1,056 |
| PEMCO | $93.17 | $1,118 |
| Wolverine Mutual | $106.67 | $1,280 |
| First Chicago Insurance | $111.75 | $1,341 |
| Capital Insurance Group | $127.67 | $1,532 |
| Pekin Insurance | $131.00 | $1,572 |
| Mississippi Farm Bureau | $136.50 | $1,638 |
| Liberty Mutual | $142.50 | $1,710 |
2017 Chevy Bolt
The average car insurance cost for a 2017 Chevy Bolt is $750.43 per year. However, Safeco offers the cheapest rates, with an annual rate of $73.
| Company | Average Monthly Premium | Average Annual Premium |
|---|---|---|
| Safeco | $6.08 | $73 |
| Buckeye Insurance Group | $61.33 | $736 |
| Atlantic States Insurance | $68.25 | $819 |
| North Carolina Farm Bureau | $69.75 | $837 |
| Utica National Ins Group | $73.42 | $881 |
| Wolverine Mutual | $79.42 | $953 |
| Indiana Farmers Mutual Ins | $82.92 | $995 |
| Farm Bureau Mutual (IA Group) | $84.25 | $1,011 |
| Pekin Insurance | $85.83 | $1,030 |
| Titan | $90.42 | $1,085 |
How much is Chevy Bolt Auto Insurance for recent models?
The auto insurance rates of Chevy Bolt have varied over the past few years due to inflation, expensive spare parts, and logistical issues. The average car insurance premium for the recent Chevy Bolt models is as follows:
- A 2023 Chevy Bolt will cost roughly $1,107.83/year to insure.
- A 2022 Chevy Bolt will cost $1,333.33/year to insure.
- A 2021 Chevy Bolt insurance premium costs $983.30/year on average.
Chevy Bolt Crash Test Ratings
Crash test ratings can significantly affect car insurance costs, as vehicles with higher ratings are considered safer and less risky to insure. The Chevy Bolt EV has very good overall crash test ratings.
| Model Year | Overall Rating | Frontal Crash | Side Crash | Rollover |
|---|---|---|---|---|
| 2021 Chevy Bolt Ev | 5 stars | 5 stars | 5 stars | 4 stars |
| 2022 Chevy Bolt EV | 5 stars | 5 stars | 5 stars | 4 stars |
| 2023 Chevy Bolt EV | 5 stars | 5 stars | 5 stars | 4 stars |
| 2024 Chevy Bolt EV | 5 stars | 5 stars | 5 stars | 4 stars |
Chevy Bolt Safety Features
The Chevy Bolt EV comes with a range of safety features, which can help reduce the insurance rates when you apply.
Some of the installed features include:
- Automatic Emergency Braking
- Forward Collision Alert
- Lane Keep Assist with Lane Departure Warning
- Front Pedestrian Braking
- Following Distance Indicator
- IntelliBeam
- Rear Vision Camera
- Teen Driver Technology
- Rear Cross Traffic Alert
- Side Blind Zone Alert
- 360-Degree Camera System
- Rear Park Assist
- HD Rear Vision Camera
- Safety Alert Seat
Chevy Bolt Safety Ratings
Chevy Bolt has high safety performance, earning the Insurance Institute for Highway Safety (IIHS) Top Safety Pick (TSP) designation. High safety ratings often lower premium rates.
| IIHS Safety Test | Chevy Bolt EV Rating |
|---|---|
| Overall Evaluation | Good |
| Crashworthiness | Good |
| - Small overlap front (driver-side) | Good |
| - Small overlap front (passenger-side) | Good |
| - Moderate overlap front | Good |
| - Side | Good |
| - Roof strength | Good |
| - Head restraints & seats | Good |
| Front Crash Prevention | Superior (with optional equipment) |
| Headlights | Acceptable (with optional equipment) |
| Child Seat Anchors (LATCH) | Acceptable |
Ways to save on Chevy Bolt Car Insurance
- Maintain a clean driving record: Rash and careless driving often stay on your records. Insurance companies will charge you higher premiums if you have a history of at-fault or DUI accidents.
- Maintain good credit score: Applicants with excellent credit scores can save as much more annually compared to those with lower credit scores.
- Follow Traffic Rules: Traffic violations can considerably increase your Chevy Bolt insurance premiums.
- Ask for relevant discounts: Ask for common Chevy bolt discounts such as safe driver discounts, bundling discounts, low mileage discounts, good student discounts, defensive driving course discounts, anti-theft and safety features discounts, electric vehicle discounts, pay-in-full discounts, military discounts to reduce your annual premiums as much as possible.
- Bundle insurance policies: You can save even more by bundling your auto and home insurance policies.
How Do I Find the Best Chevy Bolt Car Insurance Rates?
- Always research the market and insurance trends before purchasing car insurance for your Chevy Bolt EV. It could be tempting to choose a provider that offers a low rate. However, it's always better to apply for multiple free insurance quotes from as many companies as you can. You can either apply individually or use an insurance platform like Way.com.
- Compare, compare, compare – that should be your mantra when searching for the best policy. Only choose a provider who offers a balance of low rates and comprehensive coverage.
- In only a few minutes, an insurance aggregator like Way.com can help you find the lowest insurance rates you've qualified for with your financial position.
- The cheapest rates don't always mean the best! Consider spending a bit more to get comprehensive coverage.
How to Get Chevy Bolt Auto Insurance with Way
Simply download the Way App or head to the Way.com website to start your auto insurance journey and get a free quote in minutes! Our platform lets you compare offers from more than 150 different insurance providers, letting you choose the best policy for your Chevy Bolt—all in as little as 60 seconds!
FAQs
Is it expensive to insure a Chevy Bolt?
Chevy Bolt insurance costs vary depending on factors like the model year, your driving history, location, and coverage levels. Generally, EVs cost more to insure due to the higher repair costs, specialized parts, and the unique nature of the vehicle's battery system.
Why do older Chevy Bolt models cost more to insure?
Older Chevy Bolt models may cost more to insure because they may have higher repair costs, especially if parts are harder to find or more expensive.
Can I get full coverage on a Chevy Bolt?
Yes, you can purchase full coverage insurance for a Chevy Bolt, which includes liability, collision, and comprehensive coverage. Full coverage is often recommended to protect against potential accidents, theft, or damage.
Are there any specific insurance challenges for the Chevy Bolt?
The specialized nature of the vehicle’s electric powertrain and battery system is one potential challenge that is related to insuring a Chevy Bolt. These components can be more expensive to repair or replace than those in traditional gasoline-powered cars, which may lead to higher insurance premiums.
How can I lower my Chevy Bolt insurance premiums?
To lower your insurance premium for the Chevy Bolt, you can consider raising your deductible, ensuring you qualify for all available discounts, or adjusting your coverage to fit your needs. It's also important to compare rates from different insurance providers. Safe driving habits and maintaining a good credit score can also help in securing a more affordable premium.
INSURANCE AGENT EXPERTS
Auto Insurance Data Methodology
The auto insurance rates published in this guide are based on the results of research completed by Way.com’s data team. Using a mix of public and internal data, we analyzed millions of rate averages across U.S. ZIP codes.
Quotes are typically based on a full coverage policy average unless otherwise noted within the content.
These rates were publicly sourced from insurer filings and should be used for comparative purposes only — your own quotes will differ. Given this, it’s important to go through our insurance steps form to find how much you can save with way.com
DATA SOURCES
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