Vermont Car Insurance Calculator: Estimate Your Car Insurance Costs
To obtain an accurate car insurance quote in Vermont, you will need to provide insurers with the requisite personal information. You can also use MoneyGeek’s insurance calculator for Vermont to help you determine how much you are likely to pay for car insurance in the state.
For a quick estimate of how much you’ll pay for car insurance in Vermont, use MoneyGeek’s car insurance calculator. It gives you an almost-instant ballpark figure across various providers.
Car insurance costs vary based on several factors. MoneyGeek’s analysis determines car insurance costs in Vermont, as well as the factors with the highest impact on those costs.
Vermont Car Insurance Calculator: Get an Instant, Free Estimate
Vermont insurers request a wide range of personal information before providing you with an accurate car insurance quote. For most providers, the process takes between 10 and 15 minutes.
You can use the MoneyGeek car insurance calculator to see approximately how much your car insurance might cost per month or year. The figure is based on your driving record, age, car type and the coverage levels. Some factors have more influence on your costs than others.
The top factors in Vermont are adding a teen driver to your policy, your age and your credit score.
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The cheapest car insurance provider depends on several factors, and MoneyGeek’s car insurance calculator for Vermont can give you a quick estimate. Based on our default driver, the most affordable and widely available insurer is Vermont Mutual, at an average of $202 per year.
Although cost is important, customer service and availability of the coverages you need should also be a top consideration when you’re choosing an insurance provider.
Using MoneyGeek’s calculator can get you a close estimate of your car insurance premiums. You can also obtain estimates by browsing our list of sample drivers with the cheapest car insurance in Vermont.
To better understand how costs vary nationwide compared to Vermont, you can check the average cost of insurance in Vermont.
To find an insurer that balances service quality and affordability, you can use MoneyGeek’s ratings of Vermont's best car insurance providers.
How Car Insurance Premiums are Calculated in Vermont
Insurers in Vermont use several factors to calculate car insurance rates, including gender, age, coverage levels, credit score and model of your car.
MoneyGeek found that the factors that influence car insurance costs in Vermont the most are adding a teen driver to your policy, your age and your credit score.
If you add a teen driver to your policy in Vermont, for example, your cost of insurance can spike by as much as 3.2x.
How Much Adding a Teen Driver Matters in Calculating Car Insurance in Vermont
Families who add teen drivers to their policies tend to pay more for their car insurance. Teen drivers are riskier to insure because they lack experience and are more likely to cause accidents. Research shows that 75% of serious crashes by teen drivers are caused by speeding, distraction and poor scanning for road hazards.
In Vermont, your rates can increase by as much as 3.2x when you add a teen driver to your car insurance policy.
How Much Age of Driver Matters in Calculating Car Insurance in Vermont
While calculating how much car insurance costs in Vermont, insurers consider age significant. By default, young drivers pay more for car insurance than older adults.
The cheapest car insurance in Vermont is for a 40-year-old driver. Younger drivers, between the ages of 19 and 20, on the other hand, pay the highest rates. Based on your age, you can pay as much as 2.5x more for car insurance in the state.
How Much Credit Score Matters in Calculating Car Insurance in Vermont
Your credit score impacts how much you pay for car insurance in Vermont. The lower your score, the more you’ll pay for your car insurance and vice versa. If you have a good credit score, you’ll pay less for car insurance.
Typically, having poor credit in Vermont can increase your rates by 2.3x.
How Much Coverage Levels Matters in Calculating Car Insurance in Vermont
The cost of your car insurance also depends on the coverage amount you choose. A policy with higher coverage levels gives you more protection but also costs more.
The cheapest car insurance in Vermont is a state minimum liability-only policy, while the most expensive is a full coverage policy with 100/300/100 liability and a $500 deductible. This policy costs approximately 2.2 x more than the state minimum.
How Much Car Model Matters in Calculating Car Insurance in Vermont
The type of car you drive also influences your car insurance rates in Vermont. High-value cars with expensive parts and repair bills attract higher premiums. Luxury sports cars also feature high insurance costs, while SUVs, sedans and other less-expensive models have lower rates.
Depending on your car’s model, you can pay as much as 2x more for car insurance.
How to Calculate How Much Car Insurance You Need in Vermont
How much car insurance you purchase determines your rates. Calculating how much car insurance you need in Vermont allows you to secure coverage that fits your budget and protection needs.
Vermont law requires drivers to have a certain level of bodily injury liability insurance, property damage coverage and uninsured/underinsured motorist coverage. Depending on your needs, you may also purchase extra liability insurance and full coverage insurance.
Understand Vermont car insurance requirements
Drivers can determine how much car insurance they need by researching [Vermont minimum car insurance requirements]https://www.moneygeek.com/insurance/auto/state-laws-minimum-requirements-vermont/).
Basically, Vermont drivers must have a minimum coverage of 25/50/10, which is $25,000 in bodily injury per person, $50,000 for bodily injury per accident and $10,000 per accident for property damage. You’re also required to have $50,000 in uninsured/underinsured coverage for bodily injury per person and $100,000 per accident.
If you need more protection, you can increase your limits or purchase full coverage insurance.
Consider Purchasing Additional Liability Insurance
The state minimum policy offers standard protection during an accident. To get more coverage, you may need liability insurance.
Minimum liability insurance costs an average of $387 per year in Vermont. If you increase your bodily injury liability coverage to $300,000, you will pay an average of $473 per year.
Decide whether or not to buy comprehensive and collision insurance
You can also determine whether you need a full coverage policy based on your insurance needs, although it will cost you more. While comprehensive and collision insurance is not a requirement under Vermont law, some lenders might require it if you’re leasing or financing a vehicle purchase.
If you add comprehensive and collision coverage with a $1,000 deductible to your policy, you will pay about $310 per year in Vermont. If your car replacement value is quite low, you may wish to exclude this coverage and save that yearly expense.
Consider buying additional protection besides these core coverages
Vermont drivers are required to have uninsured/underinsured motorist coverage. It will help protect against accidents with a driver who doesn’t have insurance or has too little. In Vermont, the percentage of uninsured motorists is 8.8% which may be why the state requires uninsured motorist coverage.
While personal injury protection (PIP) coverage is not compulsory in Vermont, you can purchase medical payments insurance. Known as MedPay, it’s an add-on that covers your medical expenses in an accident regardless of fault.
Frequently Asked Questions About How Car Insurance is Calculated in Vermont
Car insurance rates in Vermont vary significantly depending on factors like your age, credit score and coverage amount. MoneyGeek responds to some of the commonly asked questions to ensure you understand how to calculate insurance premiums in Vermont.
MoneyGeek partnered with Quadrant Data Services to get car insurance quotes from across Vermont. Our data science team analyzed how personal factors impacted cost and incorporated our findings into our calculator to provide users with an accurate estimate of their expected yearly auto insurance costs. Read more about our methodology here.
About the Author
- Teen Driver Source. "Teen Driver Statistics." Accessed February 11, 2022.