Price is an important factor for many people when they’re shopping for car insurance. If you’re based in Vermont, researching local and national insurance providers might help you find a policy that’s a good fit for you. Here’s our guide to finding cheap car insurance in Vermont for every situation.
How Much Does Car Insurance Cost in Vermont?
The average annual price of car insurance in the state of Vermont is between $1,156 and $1,391 per year. According to U.S. News and World Report, the average American driver pays $1,321 per year for car insurance, so Vermont prices are fairly standard compared to other states. Your personal rates can depend on a variety of factors. For example, drivers in highly populous cities or areas with frequent inclement weather might pay a little more due to the increased chances of incidents.
Your personal information and driving record typically influence the quotes insurers may offer you, too. Insurance companies weigh details about your background and circumstances to predict how likely it might be that you file a costly claim, and they use this information to inform your quote. Here are some factors that drive insurance rates up or down for many individuals:
- Age
- Driving record
- Annual mileage
- Credit score
- Marital status
- Car make, model, and year
- Your car’s purchase agreement
Cheap Car Insurance in Vermont for Minimum Coverage
Minimum coverage is a type of insurance that caters to the state’s regulations for insurance. With this type of insurance plan, you may pay a lower premium than other plans in exchange for the lowest level of coverage to meet your legal obligation as a driver in Vermont. These plans can be budget-friendly on a monthly basis, but if you experience a situation outside of your plan, like theft or vandalism, you may be financially responsible.
Vermont state law requires all drivers to have at least liability insurance and uninsured or underinsured motorist insurance. Liability insurance covers you if you get into a crash and you’re determined to be at fault. Here are Vermont’s requirements for liability insurance:
- $25,000 for bodily injuries or fatality for one person
- $50,000 for bodily injuries or fatality for two or more people
- $10,000 for damages to personal property
Uninsured or underinsured motorist insurance protects you if you have a collision with an individual who’s at fault but doesn’t have sufficient coverage. It protects you from having to pay out of pocket for circumstances beyond your control. Below are Vermont’s expectations for uninsured or underinsured motorist coverage:
- $50,000 for bodily injuries or fatality for one person
- $100,000 for bodily injuries or fatality for two or more people
- $10,000 for damages to personal property
Here are some of the cheapest providers of minimum coverage insurance in the state of Vermont:
- State Farm
- USAA
- Concord Group
- GEICO
- Vermont Mutual
- Union Mutual
Cheap Car Insurance in Vermont for Full Coverage
Full coverage car insurance provides extra support for additional situations you may experience on the road. These plans might cost more in premiums, but they could help you avoid costly bills in the event of an unexpected emergency. The details of full coverage plans can vary between policies and providers, but they often include:
- Collision insurance: covers repair costs and injuries after an accident
- Comprehensive insurance: covers damages caused by something other than an accident, like extreme weather or vandalism
- Personal injury protection (PIP) insurance: covers some medical bills due to accident-related injuries, as well as lost wages sometimes
- Gap insurance: covers the difference between a car’s value and the amount owed on the loan if something happens to the car
Cheap Car Insurance in Vermont for Drivers With Infractions
Insurance companies typically offer the best rates to drivers with spotless driving records, but you can still find cheap car insurance in Vermont with an imperfect history. Even minor infractions, like failing to buckle your seatbelt or driving too slowly, can drive up your insurance costs. Some of the priciest infractions include a hit-and-run incident, which can raise rates up to 88%, and driving under the influence (DUI), which can raise premiums by 82%. Even speeding tickets could spike prices by 14% to 18%, so it’s wise to follow posted limits if you want to keep your rates low.
If you do receive a ticket, here are some of the most affordable providers for drivers with speeding infractions:
- State Farm
- Concord Group
- Union Mutual
- Co-op Insurance
- GEICO
These insurers may offer the lowest premiums for drivers who’ve been involved in an accident:
- Union Mutual
- Vermont Mutual
- GEICO
- USAA
- State Farm
Cheap Car Insurance in Vermont for Drivers With Poor Credit
Credit can be an indicator of a driver’s fiscal responsibility and likelihood to file claims, so many insurance providers research customers’ credit history when calculating quotes. Each insurance company may use credit information differently, so it could be beneficial to shop around and compare quotes from several providers. If you have a low credit score and want to find the best rates for your situation, here are some insurers who offer comparatively low premiums to individuals with poor credit in Vermont:
- Union Mutual
- GEICO
- Co-op Insurance
- Concord Group
- Allstate
Cheap Car Insurance in Vermont for Young Drivers
Age can also be a determining factor for insurance companies. Young drivers, especially teenagers, typically face high rates due to their minimal experience behind the wheel and the high rates of collisions and infractions for this age group. In fact, these drivers sometimes pay 300% of what older drivers in the area pay. Rates for teenagers might be slightly lower if they share a plan with their parents. Vermont-based drivers between the ages of 16 and 25 might find the lowest rates at Concord Group, followed by GEICO and Allstate.
Purchasing a car insurance policy that aligns with your lifestyle, background, and budget can help you stay compliant with local laws. Affordable insurance can also protect you, your loved ones, and your investment in the case of an unforeseen event. Remember that premiums can vary significantly between individuals, so contact insurance companies to get a personalized quote.
At FIXD, our mission is to make car ownership as simple, easy, and affordable as possible. Our research team utilizes the latest automotive data and insights to create tools and resources that help drivers get peace of mind and save money over the life of their car.
