State Farm is the most affordable provider of minimum coverage car insurance policies in Vermont. Vermont Mutual and Concord Group also provide the cheapest rates for certain types of drivers.
Overall, the best auto insurance companies in Vermont balance service quality and cost.
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Cheapest Minimum Liability Car Insurance in Vermont (September 2023)
The cheapest car insurance providers for a minimum coverage policy in Vermont are:
- State Farm: $201 per year
- Vermont Mutual: $219 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.
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 (September 2023)
Auto insurance companies that offer cheapest full coverage in the Green Mountain State are, on average:
- Vermont Mutual: $514 per year
- State Farm: $515 per year
GEICO has the most expensive full coverage premiums, roughly $915 per year. Full coverage insurance from Vermont Mutual costs $295 more per year than minimum coverage.
Full coverage gives drivers better financial protection. It typically covers damages from a hit-and-run driver, fire or vandalism.
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 by Age (September 2023)
Age is one of the biggest factors affecting car insurance rates in Vermont. MoneyGeek found that Concord Group and State Farm offer the cheapest options on average, depending on what age group you and your family belong to.
Cheapest Car Insurance in Vermont for Teens and Their Families (September 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.
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 (September 2023)
Vermonters in their 20s might secure the most affordable full coverage rates with the following carriers:
- State Farm: $640 per year
- Vermont Mutual: $816 per year
GEICO is the priciest option at $1,173 per year, on average. Younger drivers pay roughly $125 more per year for a full coverage policy than their middle-aged counterparts.
Cheapest Car Insurance in Vermont for Seniors (September 2023)
Senior drivers in the Green Mountain State can find the cheapest full coverage policies with the following providers:
- State Farm: $469 per year
- Vermont Mutual: $523 per year
A full coverage policy with Progressive costs $828 annually, making it the priciest option. Senior Vermonters pay $46 more for full coverage than middle-aged drivers. Rates tend to increase as drivers reach their 70s and 80s.
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 for Higher Risk Drivers (September 2023)
Drivers with a violation on their record typically pay higher premiums. State Farm is the cheapest provider for those with a ticket or DUI, whereas Vermont Mutual is a low-cost option for those with an at-fault accident on their records.
Cheapest after a ticket: State Farm ($550 per year)
Cheapest after an accident: Vermont Mutual ($523 per year)
Cheapest after a DUI: State Farm ($550 per year)
Cheapest for poor credit: Concord Group ($1,042 per year)
Cheapest for sports cars: State Farm ($624 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: $550 per year
- Vermont Mutual: $689 per year
With an annual rate of $1,203, Progressive stands out as the priciest carrier in the state. We found that people with a ticket pay around $162 more yearly for a full coverage policy.
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: $594 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 $326 more annually.
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: $550 per year
- Allstate: $1,026 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 $742.
Cheapest Car Insurance in Vermont for Drivers With Poor Credit (September 2023)
The most affordable auto insurance policies for those with poor credit are:
- Concord Group: $1,042 per year
- Nationwide: $1,057 per year
State Farm is the most expensive option in Vermont, costing $1,640 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 $608 more each year than those with good credit (750 and above).
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 (September 2023)
Sports car owners may find the most affordable quotes with the following providers:
- State Farm: $624 per year
- American Family: $748 per year
With Progressive, full coverage auto insurance can cost roughly $1,174 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 $193 cheaper than the cost to cover a sports car.
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 (September 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.
- $472 per year
USAA offers bundling, good student, multiple car and safe driving discounts to its policyholders.
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.
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.
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.
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.
- How does the Vermont Department of Financial Regulation act as a resource for consumers in regard to auto insurance? And home insurance?
- What are the key factors drivers in Vermont should look for when searching for the best auto insurance coverage?
- What steps can drivers in Vermont take to find affordable car insurance?
- What resources does the Vermont Department of Financial Regulation have for consumers?
Associate Professor at Landmark College
Deputy Commissioner of Insurance at the Vermont Department of Financial Regulation
Assistant Professor of Economics at Middlebury College
About Mark Fitzpatrick
- Vermont Department of Motor Vehicles. "Insurance." Accessed December 15, 2022.