Chevrolet Bolt Car Insurance: How Much Should You Expect to Pay?

Quick Facts

• A Chevrolet Bolt costs less than most other cars to insure.

• Full coverage auto insurance for a Bolt comes in at about $163 per month, on average, while liability only insurance normally averages around $60 monthly.

• Hugo offers the lowest average rates for a Bolt with liability only coverage offered for sometimes as low as $36 per month.

Bolt Overview

Coming in with a base MSRP of $36,500 for new 2021 models, the Chevrolet Bolt is a great budget-friendly option for any driver. With two different trim levels currently offered, every driver can find an option to match their style.

We sifted through thousands of insurance quotes on Compare.com, and we've found that Chevrolet Bolt car insurance prices are about $143 monthly, on average. How do auto insurance rates for the Bolt stack up against other similar cars?

How Much is Car Insurance for a Chevrolet Bolt?

You'll see in the table above that compared to other vehicles, Chevrolet Bolt insurance premiums are right around average. Bolt owners can expect to pay about $60 a month for liability insurance, and around $163 monthly for full coverage, which has comprehensive and collision coverages in addition to liability (learn more about these different types of insurance with our guide "State Minimum vs. Full Coverage").

Compared to other Chevrolet models, the Bolt's insurance rate is on par with the rest of the automaker's vehicle lineup. However, coverage for the Bolt is lower than average when compared to other vehicles of a similar body style, with both liability only and full coverage insurance averaging less expensive rates than other cars.

Compared to all vehicles, regardless of model, body style, or make, insurance prices for both full coverage and liability only policies run less expensive than average.

Who has the Cheapest Car Insurance for a Chevrolet Bolt?

If you're in the market for a car insurance policy for a Chevrolet Bolt, you might be wondering which company offers the most affordable prices. While premiums can change pretty significantly depending on your driver profile, Shelter Mutual has the most affordable average rates for liability only coverage, with rates as low as just $23 per month. The next cheapest carrier is CarnegieGeneral, who offers car insurance sometimes as cheap as $28 a month.

The third, fourth, and fifth carriers on the list are MetroMile, Hugo, and Workmens. That being said, just because these five companies offer the cheapest average rates doesn't necessarily mean they'll give you the best rates for your Chevrolet Bolt.

Car insurance carriers use a range of different variables and complex formulas to calculate premiums. By reviewing quotes from multiple auto insurance companies at once, you can be confident you're finding the most affordable rate.

What Factors Affect Car Insurance Rates for a Chevrolet Bolt?

As we mentioned above, there are many factors that insurance carriers use to calculate how much they charge you -- and each company weighs certain pieces more than others, so there's not one carrier that's the lowest for everyone.

Keep reading to learn which things auto insurance companies look at and how they affect your final rate:

Vehicle Age

The Chevrolet Bolt has been around for a few years, so vehicle age may make a difference in your car insurance premium. Usually, it costs less to insure older cars because they're worth less than newer models, and as cars get older, insurance costs will gradually get lower.

As you can see in the information above, the Chevrolet Bolt is in line with this trend, as the cheapest models to insure are those that are 2 to 3 and 4 to 5 years old, while on average, the most expensive models are Bolts that are 1 year old or less.

Your Age

How old you are plays a significant role in how much you pay for auto insurance. Based on the information above, drivers under 24 have more expensive prices than those with more experience. In this case, drivers 18 to 24 pay $28 more than those 25 or older.

Auto insurance prices continue to go down as you get older, with the cheapest age group for Bolt drivers being 55-64.

Your Gender

Did you know men generally pay more for insurance than women? This is because men are more likely to get into accidents and get tickets, which raises the chances of an insurance claim. For Bolt drivers, that difference is around $8 per month, with women paying an average of $67 and men looking at about $59.

Where You Live

You're probably already aware that variables like how old you are and what vehicle you drive play a role in your car insurance rates, but you may not realize that where you live is just as important. Since insurance is regulated on a state-by-state basis, premiums can shift quite a bit from state to state.

For example, the average Chevrolet Bolt driver in New York pays around $85 monthly for liability coverage, while on average, the same owner in California will pay $31 less than that price. The chart shows average rates for the top 10 most populous states, just to give you a good idea of how much premiums can change across states.

Chevrolet Bolt Car Insurance Discounts

Whatever how old you are, what state you call home, or which car you drive, using as many discounts as possible when it comes to your auto insurance is always important when shopping around for a new policy.

Not every car insurance company will offer the same discounts, but there are a few that are relatively universal. These include things like:

• Defensive driving discounts for taking a defensive driving class from a certified school or institution
• Multi-car discounts for having several vehicles on your auto policy
• Vehicle safety discounts for having a vehicle with higher than average safety ratings or one with certain safety features (like air bags or anti-lock brakes)
• Multi-policy discounts for bundling your home and auto policies with the same carrier

But these aren't the only discounts auto insurance carriers offer to their customers.

Although you may not be able to control every factor car insurance companies consider to calculate prices (like some of the ones mentioned above), there are quite a few you can control. Below are just a few of the ones you can use to your favor when it comes to cost savings:

Your Driving Record

You've most likely noticed ads from insurance carriers offering big discounts for responsible drivers. It checks out that your car insurance premiums will get higher if you get a ticket for speeding or get into an accident. But exactly how much is it going to cost you for these infractions?

As you can see, accidents will usually cost Bolt drivers less than tickets, but both will result in a raise in rates. Chevrolet Bolt drivers with a single ticket will pay an average of $90 a month, while drivers with one accident on their record pay about $59 every month. Drivers with multiple violations of either kind will end up paying even more.

How Much You Drive

Another variable that plays a big role in your auto insurance rates is the amount of miles you drive annually. Those who drive less are more likely to go accident-free, so they'll usually end up paying less for insurance. In the above table, you can see that Chevrolet Bolt owners who drive fewer than 2,500 miles each year pay about $50 monthly for car insurance, while those who put 10,000 miles or more on their cars pay $65.

If you don't use your Chevrolet Bolt to travel or commute regularly, it may be worth reviewing pay-per-mile or usage-based auto insurance. With these kinds of policies, you pay a small monthly amount, and your final monthly bill is calculated based on the number of miles you drove.

How Do Chevrolet Bolts Compare to Other Vehicles?

If you're thinking about making a Chevrolet Bolt your next vehicle, it can pay off to do your research. Insurance is just one cost that's associated with buying a new car, but it's definitely one that's worth considering.

Take a look at the table below to see how the Chevrolet Bolt compares:

Overall, the Chevrolet Bolt has an average MSRP and is on par with the going rate for a new vehicle. The average vehicle MSRP in the U.S. is $46,179, and the Bolt comes in close to that at $36,500.

But while the purchase price runs about average, insurance prices are cheaper when compared to the rest of the vehicle market. Liability insurance for a Chevrolet Bolt is about $19 per month less than average, while full coverage is more than $20 cheaper per month.

When it comes to usage, Chevrolet Bolt drivers are much higher than the national average in annual miles driven, with 13,984 miles per year compared to 11,660 for all vehicles.

Chevrolet Bolt Car Insurance Costs by Model Year

We've walked through many of the things that can have an impact on what you'll pay for auto insurance. If you're considering buying a new vehicle and the Bolt is one you're thinking about, having a good idea of how much you'll likely pay can be extremely valuable as you weigh your choices.

For this reason, we've decided to break down Chevrolet Bolt car insurance premiums by model year. Simply find the model year you want in the dropdown to see average rates for both liability only and full coverage options, as well as some other helpful info, such as the base MSRP, which trim levels are offered, and who offers the cheapest policies for each Bolt model year.

2021 Chevrolet Bolt Car Insurance

As we saw above, the Chevrolet Bolt is a great budget option for someone looking to buy a brand new car.

The average 2021 Chevrolet Bolt typically costs around $62 a month to insure for liability only and $146 monthly for full coverage. And if you want the lowest insurance possible, Aspire offers liability only policies for sometimes as little as $32 per month.

Even though it's great to know the average price drivers pay for insurance, you'll only find out exactly what you'll pay if you get a personalized quote. Luckily, Compare.com will gather quotes from a variety of companies for you, all for free. To get started, simply enter your ZIP code below.

2020 Chevrolet Bolt Car Insurance

If you're looking to buy a 2020 Bolt or already own one, you can expect an average insurance price of about $192 for full coverage or $66 for a liability only policy.

And if you're just looking for the cheapest auto insurance for your Bolt, CarnegieGeneral offers liability only policies for as low as $28 a month.

What could your car insurance premium look like? Enter your ZIP code below to get multiple customized quotes for free.

2019 Chevrolet Bolt Car Insurance

The average cost to insure a 2019 Chevrolet Bolt with liability only coverage is $72 monthly, while full coverage runs around $169 a month.

We found Shelter Mutual offered the most affordable policy, with rates as little as $23 per month.

If you want to find the best rates for insurance for a 2019 Chevrolet Bolt, enter your ZIP code below and compare multiple personalized quotes in just a few minutes.

2018 Chevrolet Bolt Car Insurance

2018 Bolt drivers can expect to pay an average of $47 a month for liability or $161 for full coverage.

With prices as little as just $29 monthly, SafeAuto offered the cheapest policy we found.

If you want more accurate quotes of how much you can expect to pay, just enter your ZIP code below and get several free quotes in minutes.

2017 Chevrolet Bolt Car Insurance

You can expect full coverage for a 2017 Chevrolet Bolt to run about $147 per month, while liability only coverage will average around $52 monthly.

Looking for the lowest policy? Clearcover offered liability only coverage for as cheap as just $25 a month.

If you're looking for a more exact figure on what you should pay for car insurance for a 2017 Chevrolet Bolt, you can get free quotes in minutes by just entering your ZIP code below.

Chevrolet Bolt Insurance FAQs

Is a Chevrolet Bolt expensive to insure?

It costs less to insure a Chevrolet Bolt when compared to the average car. Liability insurance runs an average of $60 per month, while full coverage will cost you around $163.

How can I get the best price on car insurance for my Chevrolet Bolt?

The only way to guarantee you're getting the most affordable price on insurance is to check prices regularly and compare quotes from a multitude of carriers. It's recommended to review quotes every 6 months or so. Luckily, sites like Compare.com let you compare rates from quite a few companies at once, meaning you can find the cheapest rates (or guarantee you already have the best deal) for free.

Does the color of my Chevrolet Bolt affect my insurance premiums?

You may have heard the old adage that it costs more to insure a red car than cars of other colors, but that's actually not the case. There are several factors auto insurance carriers look at when they decide your insurance rate, but the color of your Chevrolet Bolt is not used to make that determination.

Do I need to have insurance before I buy a Chevrolet Bolt?

Before you can legally drive your new (or new to you) vehicle off the dealership lot, you'll need to have a valid car insurance policy. Some dealerships might offer you an auto insurance policy as part of the car-buying process, but it's best to let your auto insurance company know before you buy.

What car insurance discounts can I get for my Chevrolet Bolt?

You will find multiple different discounts out there for car insurance. Many of them (like "pay-in-full discounts" and "safe driver discounts") are more based on you than the car you drive, but if your Bolt has safety features like airbags, anti-theft systems, anti-lock brakes, and other features, it may qualify for certain discounts. The only way to find out is to get in touch with your insurance carrier and ask about which discounts they offer.