How Much Is Car Insurance in Vermont? (November 2024)

Vermont drivers pay around $799 yearly for full coverage car insurance or $317 for minimum coverage. Your age, the amount of coverage you pick, where you live, how well you drive, and your credit history all affect your premium.

Vermont's average annual cost for full coverage car insurance is $799. Understanding these rates helps you determine if you're getting a reasonable deal or if it's expensive when comparing car insurance quotes.

Here's a summary of Vermont's car insurance rates, providing a clear idea of what you might pay monthly and yearly for minimum or full coverage.

Car insurance in Vermont is generally more affordable than in other states. The average annual premium for full coverage with a $1,000 deductible is $799 or about $67 per month, well below the national average of $1,358 annually or $113 monthly.

This lower cost is due to Vermont's smaller population, less traffic, fewer car thefts and accidents, and rural setting, all of which contribute to fewer claims and lower costs for insurers.

Car insurance rates in Vermont differ significantly between companies. Vermont Mutual offers the most affordable full coverage at an annual premium of $538, unlike the priciest, GEICO, at $1,027 annually. Compare quotes from different providers to find the cheapest car insurance in Vermont.

The cost of car insurance in Vermont is also affected by the level of coverage you select. For instance, the average monthly cost for minimum coverage is $26, while opting for full coverage with a $1,000 deductible averages out to $67. Although more expensive, it's highly recommended to choose full coverage insurance because it provides a broader financial safeguard against potential mishaps.

Adding comprehensive and collision coverage will undoubtedly increase your premium, yet selecting higher deductibles can counterbalance the higher costs. Remember, these deductible amounts apply separately for each comprehensive and collision claim.

In Vermont, the minimum car insurance requirements include $25,000 for bodily injury per person, $50,000 for bodily injury per accident, $10,000 for property damage per accident and uninsured/underinsured motorist coverage of $50,000 per person and $100,000 per accident, with an additional $10,000 for property damage.

Age significantly influences car insurance costs in Vermont. Younger drivers, particularly those between 22-29, face the highest average annual premiums at $1,032. As drivers mature, rates tend to decrease. Those aged 30-59 see more affordable car insurance, averaging $799 annually, while people aged 60 and above typically enjoy the lowest rates at around $771 per year. This trend reflects the insurance industry's view that experience and a lower risk of accidents come with age.

In Vermont, age and gender help determine car insurance rates. A 16-year-old male driver added to a family policy averages an annual premium of $1,754, the highest among teen drivers.

Teenagers under 18 often require a parent or guardian to co-sign for car insurance, and if they choose an individual policy, the premium rises to $3,262.

The average annual cost for full coverage car insurance is $699 for a 2012 model and $903 for a 2022 model. Newer cars have higher actual cash values, cost more to repair and are more likely to be stolen, leading to more expensive premiums.

Owners of newer vehicles should consider comprehensive and collision coverages, which offer financial protection against accidents, natural disasters and theft.

The average cost of car insurance in Vermont fluctuates depending on your driving record.

• With a ticket: $977 per year; $81 per month
• With an at-fault accident: $1,157 per year; $96 per month
• With a DUI: $1,622 per year; $135 per month

Violations like speeding tickets, accidents, and DUIs increase your premiums. The severity of the violation affects the cost, and these records can impact your rates for years. For instance, a DUI can affect your insurance costs in Vermont for at least six years.

Check how different coverage types and age groups influence the average insurance cost for various driving records.

Vermont drivers with excellent credit scores pay an average of $559 annually for car insurance, while those with poor credit may pay around $1,125. A good credit score, typically ranging from 670 to 739, can help you secure lower rates. Insurers use your credit score to gauge your financial responsibility and risk of filing claims.

Many factors determine the cost you'll pay for car insurance in Vermont. Here are the most common:

• Driving Record: A clean driving record can lead to more affordable car insurance rates because traffic violations and accidents typically result in higher premiums.
• Credit History: Insurers consider credit scores when setting rates, with higher credit scores often leading to lower car insurance costs in Vermont.
• Age and Gender: Younger drivers, especially men, may face higher rates due to statistics suggesting a higher risk of accidents in these demographics.
• Vehicle Type: A car's make, model and age impact insurance rates. Newer, more expensive vehicles may require higher premiums due to the repair or replacement costs.
• Location within Vermont: Premiums in urban areas with higher traffic congestion and theft rates may be more expensive than in rural areas with lower risk factors.
• Coverage Type: Choosing state minimum coverage can be more affordable while adding collision insurance or comprehensive insurance increases the cost proportionally to the level of protection.
• Annual Mileage: High annual mileage can lead to higher premiums as the risk of accidents increases with more time on the road.
• Marital Status: Married drivers may receive lower rates because statistical data suggests that married individuals engage in safer driving behaviors.
• Driving Experience: Inexperienced drivers in Vermont may have higher premiums, as insurers equate less driving experience with a greater likelihood of filing a claim.

Compare car insurance quotes to find a policy that meets your driving needs and budget. By not exploring your options, you could miss out on potential savings.

To get affordable car insurance in Vermont, compare rates, increase your deductible and avail of all eligible discounts.

Get answers about what impacts the average cost of car insurance in Vermont and how to find affordable rates.