How To Find The Most Affordable Car Insurance in Vermont

Fran
Lucy Lazarony
July 29, 2020

In Vermont, the average car insurance premium is $1,156, which is almost 26 percent less than the national average. The people of Vermont get plenty of good deals on car insurance but those deals can be even better. There are tips and strategies for saving money on car insurance. And we will get to those in a bit. First, let’s take a closer look at car insurance in Vermont.

State Minimum Liability Requirements

If you ever cause a car accident, liability insurance pays for other people’s injuries and property damage, up to your liability limit. Each state has minimum liability requirements for the drivers in their state.

In Vermont, the state minimum liability requirements are $25,000 bodily injury liability coverage per person, $50,000 bodily injury liability coverage per accident and $10,000 property damage liability coverage per accident.

The cost of this minimum liability coverage is around $378 a year.

Uninsured Motorist Coverage

Uninsured motorist coverage helps pay for damages caused by a driver who doesn’t have insurance. In Vermont, uninsured motorist coverage is required. The minimum amount is $50,000 bodily injury per person, $100,000 bodily injury per accident and $10,000 property damage per accident.

A Robust Policy Costs More

In Vermont, a more robust auto insurance policy with collision insurance and comprehensive insurance and $1,000 deductibles costs around $908 per year.

Collision insurance is coverage that helps to repair or replace your car if it is damaged in an accident with another vehicle or object such as a fence or a tree. Comprehensive insurance covers events that aren’t covered by collision coverage. These events include theft, fire, vandalism and damages from weather such as a windstorm, a hailstorm, a hurricane and a tornado.

If you have a loan on your car, your lender may require that you carry both collision insurance and comprehensive insurance.

A deductible is the amount you need to pay before your auto insurance company begins to pay for damages to your car or losses. Both collision insurance and comprehensive insurance require deductibles.

Choosing a high deductible will help to lower your car insurance premium.

Cheapest and Most Expensive Cities

In Vermont, the city with the cheapest car insurance is Winooski. The city with the most expensive car insurance is Newport.

Check out rates in Vermont

Vermont Is an At-Fault State

When it comes to insurance, Vermont is an at-fault state. This means Vermont drivers are responsible for any damage they cause to another vehicle. The insurance adjuster determines who is at fault in an accident.

Why Is Car Insurance in Vermont So Cheap?

Vermont is a rural state, it has a low number of uninsured drivers, and its population is spread out. All these things lead to lower car insurance rates.

How to Save Money on Car Insurance

Ready for those tips on saving money on car insurance? Here they come. Use as many as you can to save money on car insurance premiums.

Be a Married Motorist. If you are married, you will pay less for car insurance. There is a correlation between being married and exhibiting safe driving behavior. Because of this, married drivers pay less for car insurance than singles. In Vermont, married motorists save about $109 per year on car insurance policies.

Maintain Excellent Credit. Insurance companies use consumer credit data to assign risk pools and set insurance rates. Drivers with excellent credit get the best rates. Drivers with no or bad credit pay much more for auto insurance policies. In Vermont, a driver with excellent credit saves approximately $1,028 per year on car insurance, compared with a driver with bad credit. Does your credit score need a boost? Get current on all past due accounts, pay down debt and avoid taking on new debt. Get in the habit of paying your credit bills on-time.This will help you build a positive payment history, which is good for your credit score.

Be Safe on the Road. If you are a safe and responsible driver who follows the rules of the road, you will save money on your car insurance. In Vermont, drivers without a recent moving violation save 14 percent on car insurance premiums. But break a few rules and the premiums go up. Premiums increase 39 percent after a DUI, 31 percent after an at-fault accident and 14 percent after a speeding ticket. What does that mean in dollars and cents? In Vermont, a first, minor, at-fault accident costs around $353 per year on car insurance premiums. A DUI raises yearly insurance rates by around $674. So be a good driver and follow the rules of the road and save money. If you’ve been a responsible driver be sure to ask for a good driver discount. You’ve earned this break on your car insurance with your behavior out on the road.

Insure More than One Car. Want to save money on your car insurance? Insure more than one car with the same auto insurance company and save money with a multi-car discount.

Bundle That Policy. Bundle your auto insurance policy with another insurance policy such as a homeowners insurance policy and save money.

Pay More, Less Often. Rather than paying monthly auto insurance bills, pay the entire annual amount or six-months amount. Your premium is lower when you pay just once or twice a year.

Research Organizations. Members of some professional organizations and affiliates get discounts on car insurance. Do a little research and find out if any of your memberships apply.

Review Safety Features. Having certain anti-theft and safety features on your car will lower your auto insurance. Check with your auto insurance company to see if the features on your car are eligible for discounts.

Insure Less on Older Cars. The maximum payout for collision coverage and comprehensive coverage is limited by the value of the car. So if your older car has a low market value, it may not make financial sense to carry collision coverage and comprehensive coverage any longer.

Be a Lady Driver. Women drivers make fewer accident claims than men and are rewarded with lower auto insurance rates. Men make more accident claims and pay more.

Check Your Age. Drivers who are younger than 25 and older than 65 have more serious accidents and pay more in car insurance. Drivers of the ages in-between pay less.

Reach for Discounts. The good driver discount has been mentioned. There also are discounts for students and veterans. So be sure to reach out to your insurance company if these discounts apply to you.

Keep Miles Low. If you are a heavy commuter that racks up a ton of miles, you will pay more for your car insurance. If you are a low-mileage driver, you will pay less for car insurance. So drive less and save money on your car insurance.

Choose a High Deductible. As mentioned earlier, choosing a high deductible will save you money on your car insurance. Just be sure to put the deductible amount in a small emergency fund. This way the money will be there should you need to make an insurance claim.

Be a Homeowner. Statistics show that people who own homes drive more safely. So let your insurance company know that you own your home and enjoy the savings on your auto insurance premium.

Choose a Safe Neighborhood. If you live in a neighborhood with high accident claims and auto theft, you are going to pay more for car insurance. If you live in a neighborhood with low accident claims and low crime, you are going to pay less for car insurance. So choose a safe neighborhood and save money on your car insurance premium.

Maintain Coverage. You’ll pay higher insurance rates if you don’t maintain continuous coverage of your auto insurance. So stick with your auto insurance coverage and save money.

Shop Around. One of the best ways to save money on car insurance is to shop around. You will want to check out quotes from several different insurance companies. SmartFinancial makes it easy to do. Just input the type of insurance you are looking for and a zip code to get started. Next, answer a few, quick questions and you’ll be comparing auto insurance rates in Vermont in no time.

SmartFinancial has access to more than 200 insurance companies so you are bound to find the insurance coverage and price you are looking for. So shop smart for auto insurance and drive safely along the roadways of Vermont.

Get a Free Auto Insurance Quote Online Now.

Related Articles

Auto Insurance 7 Tips for Buying a First Car

Buying your first car is exciting. You can’t wait to have your very own set of wheels. But you do have a budget to keep in mind. So you’ll be looking at the finest that economy vehicles have to offer.

Auto Insurance Halloween Car Safety Tips

Here are tips from the American Academy of Pediatrics on reducing your child’s risk of a pedestrian injury, the most common injury to children on Halloween.

Looking for Auto Insurance?

Compare rates from dozens of companies in less than 3 minutes.