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State Farm is the most affordable provider of minimum coverage car insurance policies in Vermont. It also offers the lowest rates for young adults, seniors and drivers with speeding tickets. Concord Group offers the cheapest premiums for drivers with poor credit, whereas Vermont Mutual is the cheapest for full coverage. Military personnel can get the most affordable car insurance with USAA.

Overall, the best auto insurance companies in Vermont balance service quality and cost.

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2023

Cheapest Car Insurance Vermont (April 2023)

Cheapest Minimum Liability Car Insurance in Vermont (April 2023)

The cheapest car insurance providers for a minimum coverage policy in Vermont are:

  • State Farm: $210 per year
  • American Family: $212 per year

GEICO has the priciest premiums in the state, costing around $394 annually.

Vermont law mandates that all drivers have basic insurance coverage, which includes bodily injury liability, property damage liability and uninsured/underinsured motorist coverage.

Company
Annual Premium
Monthly Premium

State Farm

$198

$16

State Farm

$210

$18

American Family

$212

$18

Vermont Mutual

$219

$18

Vermont Mutual

$219

$18

American Family

$229

$19

Allstate

$233

$19

State Farm

$246

$20

A minimum coverage policy only covers the damage or injury you cause others. Drivers who want coverage for the cost of damages to their car will need full coverage insurance — also called comprehensive and collision insurance.

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Cheapest Full Coverage Car Insurance in Vermont (April 2023)

Auto insurance companies that offer cheapest full coverage in the Green Mountain State are, on average:

  • Vermont Mutual: $514 per year
  • State Farm: $539 per year

GEICO has the most expensive full coverage premiums, for roughly $915 per year.

Full coverage insurance costs more. Minimum coverage from Vermont Mutual costs $219 per year, but $295 more for full coverage.

Full coverage gives drivers better financial protection. They typically cover damages from a hit-and-run driver, fire or vandalism.

Company
Annual Premium
Monthly Premium

State Farm

$198

$16

State Farm

$210

$18

American Family

$212

$18

Vermont Mutual

$219

$18

Vermont Mutual

$219

$18

American Family

$229

$19

Allstate

$233

$19

State Farm

$246

$20

The amount of car insurance you need will significantly impact your auto insurance quote. MoneyGeek outlined a sample full coverage policy with the following liability protection:

  • $100,000 bodily injury per person
  • $300,000 bodily injury per accident
  • $100,000 property damage per accident

Drivers who need to cut costs can remove comprehensive and collision coverage, opt for a lower liability limit or increase their deductible. The resulting coverage, however, may be inadequate if you’re in an accident.

How to Compare Cheap Vermont Car Insurance Quotes Online

Getting an auto insurance estimate online can take roughly 15 minutes. Insurance companies may also ask you to input personal information. Thus, the process can take time, especially if you want to compare premiums.

With MoneyGeek’s car insurance calculator, you can quickly get a quote without providing personal information. Just submit your driving record, age and gender to immediately receive an estimate. You can then start your research to find the cheapest car insurance.

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Cheapest Car Insurance in Vermont for Teens and Their Families (April 2023)

In Vermont, the most affordable policies for teens on their family policy are:

  • Concord Group: $1,330 per year for male teens and State Farm: $1,177 per year for female teens
  • Nationwide: $1,392 per year for male teens and $1,197 per year for female teens

Progressive is the priciest option for those on their parent’s car insurance policy, costing around $2,136 per year for male teens and $1,960 per year for female teens.

As teens get older, their car insurance rates get lower. For 19-year-old males in Vermont, Statefarm ($1,120) offers them the cheapest car insurance rates.

Adding a teen to a family policy is cheaper than purchasing a separate one. A 16-year-old male Vermonter might spend roughly $3,245 per year on an individual policy. However, rates drop to an average of $1,751 per year if they are included in their family policy. That’s a staggering $1,494 difference.

Company
Family Plan Annual Premium
Individual Plan Annual Premium

GEICO

$424

$905

GEICO

$524

$1,119

State Farm

$539

$574

GEICO

$557

$1,190

State Farm

$602

$641

State Farm

$609

$649

State Farm

$657

$699

State Farm

$687

$843

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On average, car insurance rates for male teens tend to be significantly more expensive than for female teens. This rate difference is not as notable when drivers reach their 20s and beyond.

Many insurers offer discounts tailored to young drivers. Allstate, Progressive and State Farm offer good and distant student discounts, whereas GEICO and Nationwide just give lower rates to students with good marks.

Cheapest Car Insurance in Vermont for Young Adults (April 2023)

Vermonters in their 20s might secure the most affordable full coverage rates with the following carriers:

  • State Farm: $670 per year
  • American Family: $775 per year

GEICO is the priciest option at $1,173 per year, on average. Younger drivers pay roughly $131 more per year for a full coverage policy than their middle-aged counterparts.

Company
Annual Premium
Monthly Premium

State Farm

$198

$16

State Farm

$210

$18

American Family

$212

$18

Vermont Mutual

$219

$18

Vermont Mutual

$219

$18

American Family

$229

$19

Allstate

$233

$19

State Farm

$246

$20

Cheapest Car Insurance in Vermont for Seniors (April 2023)

Senior drivers in the Green Mountain State can find the cheapest full coverage policies with the following providers:

  • State Farm: $491 per year
  • Vermont Mutual: $523 per year

A full coverage policy with Progressive costs $820 annually, making it the priciest option. Senior Vermonters pay $48 less for full coverage than middle-aged drivers. However, rates tend to increase as drivers reach their 70s and 80s.

Company
Annual Premium
Monthly Premium

State Farm

$198

$16

State Farm

$210

$18

American Family

$212

$18

Vermont Mutual

$219

$18

Vermont Mutual

$219

$18

American Family

$229

$19

Allstate

$233

$19

State Farm

$246

$20

Several auto insurance providers in Vermont have discounts for seniors: Allstate, American Family and GEICO. Note that age isn't the only factor influencing premiums, so comparing multiple carriers can help you find the cheapest option.

Cheapest Car Insurance in Vermont After a Ticket, Accident or DUI (April 2023)

Drivers with a violation on their record typically pay higher premiums. State Farm is the cheapest provider for those with a ticket or a DUI, whereas Vermont Mutual is a low-cost option following an accident.

CHEAPEST CAR INSURANCE COMPANIES AFTER A DRIVING INCIDENT

Cheapest after a ticket: State Farm ($575 per year)
Cheapest after an accident: Vermont Mutual ($523 per year)
Cheapest after a DUI: State Farm ($575 per year)

Cheapest Car Insurance in Vermont After a Ticket

Drivers with a speeding ticket can get the cheapest auto insurance from companies like:

  • State Farm: $575 per year
  • Vermont Mutual: $689 per year

With an annual rate of $1,190, Progressive stands out as the priciest carrier in the state. We found that people with a ticket pay around $155 more yearly for a full coverage policy.

Company
Annual Premium
Monthly Premium

State Farm

$215

$18

State Farm

$227

$19

Allstate

$259

$22

American Family

$265

$22

State Farm

$269

$22

Vermont Mutual

$282

$24

Vermont Mutual

$282

$24

American Family

$289

$24

Cheapest Car Insurance in Vermont After an Accident

Following an at-fault accident, the cheapest auto insurance options in Vermont are:

  • Vermont Mutual: $523 per year
  • State Farm: $622 per year

GEICO remains the most expensive option, costing roughly $1,592 per year. Drivers with an at-fault accident on their record tend to pay an average of $317 more annually.

Company
Annual Premium
Monthly Premium

Vermont Mutual

$219

$18

Vermont Mutual

$219

$18

State Farm

$233

$19

State Farm

$246

$20

American Family

$260

$22

State Farm

$292

$24

American Family

$292

$24

Allstate

$311

$26

Cheapest Car Insurance in Vermont After a DUI

On average, the cheapest car insurance companies for drivers with a DUI are the following:

  • State Farm: $575 per year
  • Progressive: $1,025 per year

GEICO offers the most expensive policy at an average of $2,646 per year. If a driver is convicted of a DUI, annual rates can increase by $724.

Company
Annual Premium
Monthly Premium

State Farm

$215

$18

State Farm

$227

$19

State Farm

$269

$22

Allstate

$310

$26

Allstate

$349

$29

Allstate

$353

$29

American Family

$371

$31

Progressive

$396

$33

Cheapest Car Insurance in Vermont for Drivers With Poor Credit (April 2023)

The most affordable auto insurance policies for those with poor credit are:

  • Concord Group: $950 per year
  • Nationwide: $1,057 per year

State Farm is the most expensive option in Vermont, costing $1,719 per year.

Your credit score is one of the main factors insurers examine to compute your rates. In the Green Mountain State, drivers with poor credit (below 580) usually pay $595 more each year than those with good credit (750 and above).

Company
Annual Premium
Monthly Premium

Allstate

$1,282

$107

Concord Group

$1,291

$108

Nationwide

$1,307

$109

American Family

$1,722

$143

Vermont Mutual

$1,943

$162

GEICO

$1,959

$163

Progressive

$1,971

$164

State Farm

$2,203

$184

Because individuals with poor credit have a higher likelihood of filing claims, their premiums are usually more expensive. This practice isn’t legal in some states, but Vermont law allows it.

Improve your credit standing to get a more affordable rate. Another way to cut down on expenses is to maximize common discounts and weigh different insurer options.

Cheapest Car Insurance in Vermont for Sports Cars (April 2023)

Sports car owners may find the most affordable quotes with the following providers:

  • American Family: $643 per year
  • State Farm: $653 per year

With Progressive, full coverage auto insurance can cost roughly $1,151 annually. MoneyGeek determined that rates are higher for sports car drivers since repairs and replacements cost more.

The cost to insure a Toyota Camry LE is $187 cheaper than the cost to cover a sports car.

Company
Annual Premium
Monthly Premium

State Farm

$198

$16

State Farm

$210

$18

American Family

$212

$18

Vermont Mutual

$219

$18

Vermont Mutual

$219

$18

American Family

$229

$19

Allstate

$233

$19

State Farm

$246

$20

Our analysis used a Ford Mustang as a sample sports car. Note that your final quote will depend on your car model. Unless you have a sports, electric or luxury vehicle, the model of your car won’t significantly impact your rates.

Cheapest Car Insurance in Vermont for Military Drivers (April 2023)

USAA is the cheapest auto insurance provider for those with a military background. Its policies cost $472 per year. The carrier is available nationwide and caters specifically to active military members, veterans and eligible military families.

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MoneyGeek Top Pick
USAA
  • $472 per year

USAA provides multiple discounts that enable policyholders to save on monthly premiums. These include defensive driving, driver education and safe driving. The provider also has a bundling discount for those who combine their auto and home insurance policies.

Car Insurance in Vermont: What You Need to Know

Vermont law requires that drivers have minimum car insurance requirements, which include bodily injury and property damage liability. Drivers also need uninsured/underinsured motorist coverage, which other states usually don’t require. Ensure that you’re sufficiently protected by understanding how much auto insurance you need.

Vermont Car Insurance Requirements

Drivers are only required to purchase Vermont’s minimum insurance coverage (bodily injury liability, property damage liability, plus uninsured/underinsured motorist coverage). Although it’s cheaper to purchase just the state minimum coverage, expenses may skyrocket if you’re in an accident.

Vermont requires SR-22 insurance for drivers with repeated or severe driving violations, which may result in pricier premiums and increased coverage mandates.

  • male icon

    Bodily Injury Liability

    Drivers who cause a vehicular accident must cover the medical expenses of anyone injured. Vermont drivers must have $25,000 in bodily injury liability per person and $50,000 in bodily injury liability per accident. Beyond these limits, drivers must pay out of pocket.

  • accident2 icon

    Property Damage Liability

    This covers the cost of repairs for another car or property (house wall, fence or post). The state’s limit is $10,000 in property damage liability per accident.

  • carInsurance icon

    Uninsured/Underinsured Motorist Coverage

    The Vermont limit for uninsured/underinsured motorist coverage is $50,000 per person and $100,000 per accident. Property damage for uninsured/underinsured motorists is $10,000 per accident.

Drivers can get more extensive protection by increasing limits to $100,000 in bodily injury liability insurance per person, as well as $300,000 in bodily injury liability insurance and $100,000 in property damage insurance per accident.

Comprehensive insurance pays for off-road damages like animal damage, natural disasters and theft. Collision insurance protects against expenses if a driver crashes into another vehicle or hits a tree.

Car Insurance Alternatives in Vermont

The Green Mountain State offers drivers ways to operate a vehicle legally without the required minimum coverage.

According to the Vermont Department of Motor Vehicles, drivers can obtain Financial Responsibility Insurance. This option provides liability insurance coverage for an individual (as opposed to the usual coverage for both an individual and a vehicle). With Financial Responsibility Insurance, drivers don't necessarily need to own their vehicle. Thus, it's an ideal option for drivers who often rent cars or those who work for ride-sharing companies.

Alternatively, Vermonters can pay a $115,000 bond or deposit to the state instead of purchasing minimum auto insurance. This guarantees drivers can provide monetary compensation to others if involved in an accident.

FAQs About Car Insurance in Vermont

It’s normal for drivers to ask questions about car insurance affordability and quality since it’s an important investment. MoneyGeek answers frequently asked questions about auto insurance in Vermont.

Expert Advice on Finding Cheap Car Insurance in Vermont

To help you find credible and accurate insight on car insurance in Vermont, MoneyGeek received expert advice from trusted professionals. The perspectives and opinions expressed are those of the individual contributor.

  1. How does the Vermont Department of Financial Regulation act as a resource for consumers in regard to auto insurance? And home insurance?
  2. What are the key factors drivers in Vermont should look for when searching for the best auto insurance coverage?
  3. What steps can drivers in Vermont take to find affordable car insurance?
  4. What resources does the Vermont Department of Financial Regulation have for consumers?
Kevin Gaffney
Kevin Gaffney

Deputy Commissioner of Insurance at the Vermont Department of Financial Regulation

Steven Pecsok
Steven Pecsok

Assistant Professor of Economics at Middlebury College

Dr. Jeanette Landin
Dr. Jeanette Landin

Associate Professor at Landmark College

David Raleigh
David Raleigh

About Mark Fitzpatrick


Mark Fitzpatrick headshot

Mark Fitzpatrick is a senior content director at MoneyGeek with over five years of experience analyzing the insurance market, conducting original research and creating content that can be personalized for every buyer. He has been quoted on insurance topics in several publications, including CNBC, NBC News and Mashable.

Mark 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 economics and insurance knowledge to bring transparency around financial topics and help others feel confident in their money moves.


sources
  • Vermont Department of Motor Vehicles. "Insurance." Accessed December 15, 2022.