The Cheapest and Best Homeowners Insurance in Burlington
The Cheapest Home Insurance Companies in Burlington
The core coverages offered by most homeowners insurance providers are comparable. Because of this, it is important to look at the cost when comparing quotes from various insurers in Burlington. The cheapest two insurers for a $250,000 dwelling policy in Burlington are:
- Allstate: $983 per year
- State Farm: $1,043 per year
For expensive homes with $2 million in dwelling coverage, the cheapest homeowners insurance providers are the same and the average quotes are:
- Allstate: $3,864 per year
- State Farm: $6,141 per year
Your home insurance premiums are affected by several variables, one of which is the dwelling coverage limit. Use the table below to see how prices change by adjusting the dwelling coverage limits.
The Cheapest Home Insurance in Burlington, Ranked
Scroll for more
The study's sample insurance plans had an initial dwelling coverage of $250,000 and a personal property coverage limit of $100,000. The personal property limit was $800,000 for plans with a dwelling coverage of $2 million. All plans have a $100,000 liability limit. You can still compare homeowners insurance quotes with several carriers regardless of where you reside in Vermont.
The Average Cost of Homeowners Insurance in Burlington for 2022
A home insurance policy in Burlington will cost you an average of $1,197 per year or $100 per month. Burlington’s average is the same as Vermont's yearly average of $1,197. This is far less than the national average of $2,103.
Calculate the Cost of Home Insurance in Burlington
In addition to location, factors like personal property limits, your credit score and the amount of dwelling coverage also affect the cost of your home insurance policy. Using MoneyGeek's home insurance calculator, you can compare prices from multiple carriers in Vermont.
Home Insurance Calculator
These are annual estimates. Get a personalized quote to determine your costs.
The Best Home Insurance Companies in Burlington
When comparing homeowners insurance in Burlington, the cost is always a factor to consider. However, you should also evaluate the companies' customer service experience and financial stability ratings. You're more likely to make a claim at a stressful time, so you should choose an insurance company that is financially stable and will pay your claim quickly and fairly.
The two companies ranked by MoneyGeek as the best homeowners insurance providers in Burlington are:
- Best Overall: Allstate
- Runner-up: State Farm
MoneyGeek ranked companies in Burlington in our analysis based on affordability, consumer satisfaction and financial soundness.
MoneyGeek's top pick for Burlington is Allstate, which earned high ratings across multiple categories, including financial stability from AM Best and affordability from MoneyGeek. The company offers a reduction on its premiums to policyholders who maintain a claim-free status.
By adding Allstate's Claim Rateguard to your homeowners insurance policy, you can avoid a spike in your homeowners insurance premiums following a claim. Additionally, for each year of claim-free service with Allstate, your deductible will be reduced by $100, up to a maximum of $500. This reduces the cost of filing a claim when the time comes.Read MoneyGeek's Allstate home Insurance Review
State Farm comes in second place on MoneyGeek's list due to its strong financial stability and affordability ratings. For insuring high-value personal possessions, the insurer allows policyholders to enhance their personal property limits.
You may safeguard your home systems, such as electrical generating systems or heating and cooling systems, by adding State Farm's unique home systems protection to your home insurance policy. In comparison to other providers, State Farm offers an optional service line coverage that covers the cost of underground piping, electric lines and service lines.Read MoneyGeek's State Farm home Insurance Review
Cheapest Home Insurance Companies in Burlington for Newly Constructed Homes
In Burlington, newly constructed homes are less expensive to insure than older properties. Insurers consider new homes more resistant to harm since they are built with new and modern materials. Additionally, newer materials can be more easily replaced. Owners of new homes are less likely to file claims; therefore, insurers offer cheaper rates.
In Burlington, the average cost of home insurance for a newly constructed home is $866 per year, compared to $1,197 for a house built in the year 2000.
The two cheapest homeowners insurance companies in Burlington for newly built homes with $250,000 in dwelling coverage are:
- Allstate: $767 per year
- State Farm: $783 per year
The Cheapest Home Insurance in Burlington for New Homes, Ranked
Scroll for more
Cheapest Home Insurance Companies in Burlington if You Have a Lot of Personal Property
Any personal items you choose to insure will be covered by the home insurance policy you purchase. The more personal items you insure, the more expensive your premium will be.
A standard home insurance policy with a $250,000 personal property limit costs Burlington's homeowners $1,290 per year on average. An annual premium of $1,197 is required for an insurance policy with a personal property limit of $100,000.
For residences with $250,000 in dwelling coverage and $250,000 in personal property coverage, the two most affordable insurers in Burlington are:
- State Farm: $1,188 per year
- Allstate: $1,080 per year
Cheap Companies in Burlington for Extra Personal Property Coverage
Scroll for more
Cheapest Home Insurance Companies in Burlington for High Deductibles
Your homeowners insurance policy's deductible is the amount you must pay out of pocket before your insurer will start covering your claim. The amount of policy deductible also affects the home insurance premiums. In Burlington, if you choose a higher deductible, your insurance premium will be lower and if you choose a lower deductible, your insurance premium will be higher.
In Burlington, a home insurance policy with a $2,000 deductible costs around $1,024 while coverage with a $1,000 deductible costs around $1,197, which is a difference of $173.
The two companies that offer the cheapest homeowners insurance in Burlington for homes with a $2,000 deductible are:
- Allstate: $783 per year
- State Farm: $936 per year
The Cheapest Companies in Burlington for High Deductibles, Ranked
Scroll for more
Cheapest Home Insurance Companies in Burlington if You Have Poor Credit
Insurance companies use your credit score as a factor to calculate your homeowners insurance quote in Burlington. A person with a poor credit score, according to the majority of insurers, is more likely to submit a claim. So, people in Burlington who have a bad credit score are going to have to pay more for their home insurance than someone who has good credit.
Average home insurance costs in Burlington are $1,475 a year for people with bad credit. However, if you have good credit, you'll pay an average of $1,197 for the same kind of insurance plan.
The following two companies, on average, provide the cheapest home insurance policies in Burlington for individuals with bad credit:
- Allstate: $983 per year
- Travelers: $1,246 per year
The Cheapest Companies in Burlington for Poor Credit, Ranked
Scroll for more
Getting Online Homeowners Insurance Quotes in Burlington
It's easy to get a home insurance quote online in Burlington. To get a more personalized quote, you'll need to fill out the following information.
- Home replacement cost: This is the cost of restoring your home following damage caused by a risk covered under the policy. This information helps insurers evaluate the ideal dwelling coverage for your policy. You can get an estimate from a contractor or construction professional.
- Personal property value: Personal property value is the value of the personal property you choose to insure alongside your home.
- Personal information: You must be prepared to provide personal information, such as your home address, credit score, insurance claim history, social security number and household information like the number of people in your home, in order to get online home insurance quotes.
- Details about your home: In order to offer you a more accurate home insurance quote, insurers will need to know your home's age, size and the inclusion of security devices.
Homeowners Insurance in Burlington Analysis: Methodology
MoneyGeek analyzed four homeowners insurance providers in Burlington using data from Quadrant. A sample home with different levels of coverage was used to determine the affordability ratings. Customer satisfaction surveys conducted by J.D. Power were employed to determine each company's degree of satisfaction.
An average homeowner with a 2,500-square-foot home constructed in 2000 was used as the baseline profile. The home was insured for a total of $250,000, with personal property coverage of $100,000 and liability coverage of $100,000. All plans analyzed had a $1,000 deductible regardless of their coverage amounts.
The study also included homeowner profiles with newly constructed homes, poor credit, higher deductibles and a lot of personal property to insure.
About Mark Fitzpatrick