Insurance
Vermont Homeowners Insurance Calculator: Estimate Your Policy Cost
Updated: November 10, 2024
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MoneyGeek’s home insurance calculator will give you a ballpark estimate of your cost — it’s free, no personal information required, no spam.
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Dec 22, 2024
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To determine the most affordable homeowners insurance in Vermont, MoneyGeek gathered data from several insurance companies. According to our research, Allstate offers the cheapest homeowners insurance in Vermont.
MoneyGeek also found that State Farm is the best homeowners insurance company in Vermont for those seeking a balance between costs and service quality.
How to Estimate the Cost of Your Homeowners Insurance Policy in Vermont
Homeowners insurance is not the same for everybody. Every household has different needs and preferences, especially regarding cost and coverage. Factors including coverage amounts, deductibles, location and credit score affect a policy's cost.
MoneyGeek’s homeowners insurance calculator allows you to adjust coverage amounts, deductibles and credit scores to determine your premium. By entering the values that apply to you, you’ll see how each factor influences the cost of homeowners insurance in Vermont.
Vermont
Homeowners insurance costs vary by state. For example, crime rates in some states are higher than in others. In addition, your location within a state can affect your rates as well.
Dwelling Coverage
If a covered risk damages the structure of your home, dwelling coverage will pay for the costs of repairing it. In Vermont, the average dwelling coverage is $250k.
Covered risks may include lightning, fire, theft, vandalism, etc. This coverage is limited to structures that are connected to your house.
Deductible
The deductible is the amount that you are responsible for paying in the case of a claim.
For example, if your deductible is $1,000 and the damages amount to $20,000, you will have to pay $1,000 on your own before your insurance covers the remaining $19,000. When deciding on your deductible, you need to consider your ability to pay for this amount in the future.
Liability
Liability coverage will cover the expenses if someone was injured on your property or another person's property was damaged due to your negligence.
You can increase your coverage limit by thousands for just a few extra dollars in premiums.
Personal Property
Personal property coverage replaces your possessions in case of a covered loss, such as theft or fire. Your personal property may include your electronics, clothes, furniture and other qualified items at home.
50% of your dwelling coverage may be enough, but you can increase your coverage limit. MoneyGeek’s personal property calculator below can help you estimate how much coverage you need.
Credit Score
Insurance companies in Vermont run a credit check before accepting your home insurance application. Because of this, your credit score can impact the cost of your homeowners insurance.
People with good credit usually pay cheaper premiums than people with bad credit because those with poor credit tend to file more insurance claims.
Personal Property Coverage Calculator
When figuring out how much renters insurance you need, experts recommend the standard $100,000 in liability insurance and enough personal property protection to cover your possessions. Use MoneyGeek's calculator to estimate the value of your possessions so you know how much personal property coverage to buy.
clothing & accessories
Clothes, shoes, bags, belts, hats, gloves, etc.
Average Cost of Home Insurance in Vermont
Vermont ranks ninth for the most affordable homeowners insurance in the U.S. The average cost for homeowners insurance in Vermont is $1,207 per year for a $250k dwelling coverage.
$250k in dwelling coverage might not be enough for some homeowners, so it’s essential to know how much coverage you need. If you think you need more coverage, you can increase your limit, which will also drive up your premiums. The table below shows how your dwelling coverage level can affect the cost of your home insurance.
Average Annual Premium in Vermont for Homeowners Insurance
| $100,000 | $747 |
| $250,000 | $1,207 |
| $500,000 | $2,297 |
| $750,000 | $3,176 |
| $1,000,000 | $4,033 |
| $2,000,000 | $7,465 |
| $3,000,000 | $10,932 |
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As a rule of thumb, your dwelling coverage is based on the cost of reconstructing your home. You can determine this amount by looking at the age, size, shape and other features of your home. Another way to estimate your possible expenses is by using publicly available data, market analysis and company-specific algorithms. You can also consult professional home appraisers to give you an estimate.
These estimates may not be exact, and they may not be able to keep up with rising prices in the future. If this happens, you can be protected by extended replacement cost, guaranteed replacement cost and inflation guard coverage.
Frequently Asked Questions About Home Insurance in Vermont
Knowing the typical cost of homeowners insurance and the effect of coverage limits helps you understand your policy better. MoneyGeek answered commonly asked questions about home insurance in Vermont to guide you through the process of choosing a policy.
How much does homeowners insurance cost in Vermont?
The average cost of homeowners insurance in Vermont is $1,207 per year, about 50% cheaper than the national average of $2,417 per year. Because of this, Vermont is the ninth cheapest state for homeowners insurance in the country.
How do I know how much dwelling coverage to get?
Your dwelling coverage limit is based on the cost of rebuilding or replacing your home. The age, size, shape and other home features affect your rebuilding expenses. You can also estimate the rebuilding cost with company algorithms, market research and public data.
You can consult a professional home appraiser if you'd like an expert evaluation. In Vermont, the average dwelling coverage is $250k.
Insurance
Methodology
To determine the average cost of homeowners insurance in Vermont, MoneyGeek sourced pricing data from Quadrant Information Services.
MoneyGeek chose a standard home profile to provide the most reliable and relevant data for developing a thorough analysis of homeowners insurance.
This standard home profile consists of the following attributes:
- Construction year: 2000
- Construction type: Frame
- Composition roof
- Three-mile radius from the fire department
- The assumed value of other structures on the property: 10% of the dwelling coverage
- Personal property coverage: 40% of the dwelling coverage
- Liability limit: $100,000
- Deductible: $1,000
About Mark Fitzpatrick
Mark Fitzpatrick is a Licensed Property and Casualty Insurance Producer and MoneyGeek's Head of Insurance. He has analyzed the insurance market for over five years, conducting original research and creating personalized content for every kind of buyer. He has been quoted in several insurance-related publications, including CNBC, NBC News and Mashable.
Fitzpatrick earned a master’s degree in economics and international relations from Johns Hopkins University and a bachelor’s degree from Boston College. He is passionate about using his knowledge of economics and insurance to bring transparency around financial topics and help others feel confident in their money moves.