The Best Cheap Car Insurance in Vermont for 2020

The Best Cheap Car Insurance Companies for Vermont Drivers in 2020

Most drivers in the state of Vermont will be able to choose from five of the top Vermont car insurance companies for cheap car insurance. The table below highlights these companies and the approximate costs for the average driver. These costs are an estimate, so it’s important to compare quotes from multiple insurers to find the best rate for you.

These rates demonstrate the approximate cost for the average person, but a multitude of factors can impact the cost of car insurance in Vermont, including driver credit, the type of car you drive, and driving record. Check out our guide on saving money on car insurance to learn more about finding the best car insurance for you.

The Best Car Insurance Companies in Vermont for 2020

MoneyGeek ranked the top car insurance companies in Vermont to help you find the best coverage. Each of the five top-rated auto insurance companies in the state received a score out of 100 for MoneyGeek’s ranking. Scores were calculated by weighing four consumer and industry reviews, including AM Best's financial strength rating and JD Power's customer satisfaction rating, claims score and affordability score.

When searching for the best and cheapest car insurance as a Vermont driver, the reliability, personalization and customer satisfaction of your insurance provider should be considered in addition to affordability.

Market Share by Company

According to the NAIC’s report on insurance companies in the state, Progressive ranks as the largest company in Vermont with 17.72 percent of the market share. The table below shows the other largest companies in the state.

Cheapest Car Insurance for Drivers With a DUI in Vermont

A DUI can — and will — impact your insurance rates. In fact, a DUI could cause your rates to double overnight, so drivers with a DUI on record often don’t know how to begin the search for cheap car insurance. In Vermont, 1.8 percent of adult drivers admitted to driving after drinking too much in the past 30 days, so this issue isn’t unfamiliar to Vermont auto insurance companies.

A DUI will impact your car insurance rates for years, but comparing personalized quotes from multiple auto insurance companies will help you find the best rate. If you are unable to obtain insurance after a DUI, exploring state-sponsored auto insurance programs can provide a solution. These programs were created by the states to insure high-risk drivers while sharing the risk of insuring this type of driver between multiple providers.

Cheapest Car Insurance for VT Speeding or Distracted Driving Tickets

According to the National Highway Traffic Safety Administration (NHTSA), distracted driving resulted in 60 crashes in the state of Vermont in 2018. If you find yourself searching for affordable car insurance after a distracted driving or speeding ticket, know that your rates will likely increase. Finding cheap insurance for drivers with a ticket can be done by comparing quotes with more than one of the top-rated auto insurance companies in Vermont. The following table illustrates estimates of what Vermont residents can expect to pay if they’re penalized for speeding or distracted driving.

A traffic violation will impact your rates, especially if your distracted driving causes an accident, but for how long depends on your insurance provider and your driving record before the incident. A citation can make you a higher-risk driver, which will impact your monthly premiums. Compare car insurance quotes from multiple providers to find the best rates after a citation.

Cheapest Car Insurance Companies in VT for Drivers With Bad Credit

Many insurance companies believe that a driver’s credit score reflects the driver’s financial responsibility. Therefore, drivers with low credit scores will likely pay more for car insurance. Vermont ranks fourth in the country for the highest credit scores — the average score in the state is 726. However, drivers with a lower credit score can still find affordable car insurance in Vermont.

Your credit score shows insurers how financially responsible you are, so a lower score will likely lead an insurance provider to set a higher premium to protect themselves from any financial losses. Educate yourself on your credit score and how to improve it before shopping for the best and cheapest car insurance in Vermont.

Cheapest Car Insurance Companies in Vermont for Seniors

Finding cheap car insurance for seniors in Vermont can be impacted by a unique set of factors. Older drivers face physical limitations to driving, such as changes in eyesight and reaction time, which can cause insurance providers to see them as high-risk drivers. In 2017, seniors made up 18 percent of all traffic fatalities during the year, according to the NHTSA. In the hopes of protecting drivers of all ages, the DMV of Vermont conducts driver re-examination tests for mature drivers on a requested basis to assess the capabilities of older drivers. The following table provides some estimations of what seniors in Vermont can expect to pay for their auto insurance.

Rates for seniors can vary based on age and driver history, and insurance companies tend to see them as a higher-risk group due to common physical obstacles that come with age (such as vision, reflexes, and attention). It is important for older drivers to discuss these factors with insurance providers when requesting car insurance quotes.

Cheapest Car Insurance for Students

If you're a college student coming to Vermont, you have 60 days to register your vehicle and make sure your insurance meets the legal requirements for the state. Remember that responsible driving can result in lower insurance rates, including putting your phone away while you’re behind the wheel (60 percent of teen driver crashes involve distractions, according to AAA).

The following table demonstrates the approximate rates offered by insurance providers in Vermont. It’s important to understand that a variety of factors can impact your rates as a student driver, including your driving record, how long you’ve been a licensed driver and the type of car you drive.

Premium Comparison by Student Type

Premium comparison for two adults + a 16-year-old

Average premium for two 2014

Mustang GTs

$3,712

Average premium for two 2008

Town and Country Limiteds

$2,594

Anual benefits of minivans:$1,118 saved

This is 30% less expensive.

Cheaper premium for college vs. high school drivers

Median premium change with a college student vs. high school driver:

$834 DECREASE

This is a savings of 28%.

Potential discounts for teens in texas

Impact on annual premium with good student and defensive driving discounts:

$296 SAVED

Vermont students: a long-distance discount

You may pay a smaller annual family premium if your child lives 150 miles or more away from home.

Average premium for a 19-year-old male

$2,592 at home

$2,003 at school

$589 IN SAVINGS

Average premium for a 19-year-old female

$2,287 at home

$1,866 at school

$421 IN SAVINGS

Insurance Rate Information for Military Drivers and Veterans

About 170 active-duty military personnel and over 48,000 veterans live in Vermont. If you're on active duty, Vermont may extend your driver's license four years past its normal expiration date. You can find out about other military benefits on the state's website.

Insurers operating in Vermont that give discounts to military personnel and veterans include GEICO and USAA. With GEICO specifically, you may see discounts of up to 15 percent.

Age savings for Texas service members

25 years$1,252
50 years$941

25 years$1,359
50 years$922

---

$311 Saved

$437 Saved

Median auto insurance for service members: $1,041

Who Needs Car Insurance in Vermont?

Any car that is registered, driven or parked on the street in Vermont must be insured, according to the Vermont Department of Motor Vehicles.

If you have a fixer-upper that you've actually fixed up, you will need insurance before you can take it out of the garage for a spin to make sure the carburetor and timing belts are set just right.

Proof of Insurance in Vermont

Vermont's state slogan, "freedom and unity," is evident even in its expectation that you'll carry car insurance without being prodded; the state doesn't require proof of insurance when you register your car at the DMV. But if you're stopped by the police or highway patrol, you'll need to show proof of insurance or another document proving financial responsibility (See "Alternatives to Insurance,” below).

Minimum Liability Insurance Requirements in Vermont

Vermont's state slogan, "freedom and unity," is evident even in its expectation that you'll carry car insurance without being prodded; the state doesn't require proof of insurance when you register your car at the DMV. But if you're stopped by the police or highway patrol, you'll need to show proof of insurance or another document proving financial responsibility (See "Alternatives to Insurance,” below).

Minimum Liability Insurance Requirements in Vermont

Vermont requires that all drivers get liability insurance, which is designed to protect you for injuries and damage to other people in an accident. The mandatory coverage levels are:

• $25,000 for bodily injury or death per injured person
• $50,000 for bodily injury or death per accident
• $10,000 for property damage per claim

Vermont also requires these levels of uninsured/underinsured motorists' coverage to cover you in case you're involved in an accident with a driver who lacks sufficient (or any) insurance:

• $50,000 for bodily injury per accident
• $100,000 for multiple persons per accident
• $10,000 in property damage

However, insurance experts and consumer groups generally consider these limits insufficient (See "How Much Car Insurance Should I Get?").

If you are convicted of a traffic violation or are caught driving without insurance, the state may require you to purchase Financial Responsibility Insurance. Applying for this insurance is a tricky process, so carefully read the rules at http://dmv.vermont.gov.

High-Risk Auto Insurance Program in Vermont

High-risk drivers who may have trouble due to problems with their driving record can choose from a number of insurers, including Esurance, Geico, Direct, Hartford, State Farm and Travelers.

Alternatives to Insurance in Vermont

If you are having trouble getting cheap insurance quotes in Vermont, or you don’t feel like regular auto insurance doesn’t fit your needs, there is an alternative to make sure you can compensate others if you are involved in an accident. In the state of Vermont, drivers can pay a $115,000 bond or deposit to the state in lieu of car insurance.

Car Insurance Requirements in Vermont: How Much Coverage Do You Need?

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Sources

• AAA. “Keys to Drive -- Insurance - Vermont.” Accessed March 7, 2020.
• AAA. “Keys to Drive -- Know the Risks.” Accessed March 7, 2020.
• Centers for Disease Control and Prevention. “Drunk Driving State Data and Maps.” Accessed March 7, 2020.
• Centers for Disease Control and Prevention. “Motor Vehicle Safety.” Accessed February 17, 2020.
• Department of Motor Vehicles, Vermont. “Mature Drivers.” Accessed March 8, 2020.
• Experian. “2019 Consumer Credit Review.” Accessed March 7, 2020.
• Insurance Information Institute. “Facts + Statistics: Auto Insurance.” Accessed March 7, 2020.
• National Highway Traffic Safety Administration. “Index of FARS/2018/Naitonal.” Accessed March 7, 2020.
• National Highway Traffic Safety Administration. “Traffic Safety Facts.” Accessed March 8, 2020.