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

Drivers in Vermont pay around $772 yearly for a full coverage car insurance policy. Minimum coverage costs $305 annually. Your age, how much coverage you want, where you live, how safely you drive and your credit history all affect your car insurance rates.

Vermont's full coverage car insurance averages $772 annually or $64 monthly. Knowing the average premiums in your state helps you find out if you're getting an affordable rate when comparing car insurance quotes.

Below is a summary of car insurance rates in Vermont. Whether you're looking for minimum coverage or full coverage, these amounts give you an idea of what you might pay monthly or annually for your insurance.

Car insurance in Vermont is generally more affordable than in other states. The average annual premium for the state minimum liability-only coverage is $305 or about $25 per month. This is significantly less than the national average cost of car insurance, which is around $595 annually or $50 monthly for the same coverage level.

Vermont's lower cost can be attributed to a smaller population, less traffic and fewer car thefts and accidents, which all contribute to fewer claims. Additionally, Vermont's rural setting can lead to 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 $1,012 annually. Compare quotes from different providers to find the cheapest car insurance in Vermont.

Your selected coverage level also influences your car insurance cost. For example, minimum coverage in Vermont averages around $25 per month, while full coverage with a $1,000 deductible averages approximately $64 per month. A full coverage policy is often recommended despite the higher price because it offers more comprehensive protection.

While including comprehensive and collision coverage in your insurance plan raises your premium, choosing higher deductibles can counterbalance the increased cost. Each comprehensive and collision coverage comes with a deductible amount, the out-of-pocket expense you agree to pay in case of a 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 can affect the cost of car insurance in Vermont. Drivers aged 22 to 29 typically pay the most, with premiums decreasing as motorists age. This trend reflects insurers' view of risk associated with age; inexperienced drivers face higher rates, while older drivers enjoy more affordable premiums.

For Vermont car insurance, individuals aged 22 to 29 pay an average annual premium of $998, whereas those aged 30 to 59 and 60+ pay $772 and $743, respectively. This shows a decrease in premiums as drivers 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 on a 2012 model is $699, while the same coverage jumps to $903 for a 2022 model. This increase is mainly because newer models often have higher actual cash values and may cost more to repair. Additionally, they could have a greater risk of theft, which drives premiums up.

Owners of newer car models are recommended to consider comprehensive and collision coverage, which can provide financial protection against a range of incidents, including accidents, natural disasters and theft, for all-around vehicle security.

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

• With a ticket: $941 per year; $78 per month
• With an at-fault accident: $1,120 per year; $93 per month
• With a DUI: $1,569 per year; $131 per month

Violations like tickets, accidents, and DUIs will raise your car insurance premium. The more severe the violation, the higher the cost. Plus, as long as they're on your record, they'll impact what you pay. For example, in Vermont, a DUI can stay on your driving record for up to 10 years, affecting your insurance costs for that duration.

The table shows how different coverage types and age groups affect the average insurance cost in Vermont for various driving records.

In Vermont, drivers with excellent credit scores pay an average of $559 annually for car insurance, while those with poor credit might see rates around $1,125. Your credit score influences the cost of car insurance because insurers consider your financial responsibility as indicative of your risk for filing claims.

A good credit score is typically from 670 to 739. Drivers with higher scores often get lower rates.

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.