MoneyGeek determined the top insurers in Vermont for different types of homeowners, including their discount and coverage options.
The best home insurance provider in Vermont may vary depending on your needs. For instance, in addition to being the best option for service quality and expensive homes, State Farm is the best company overall. Allstate is the best for bundling and homeowners on a budget.
MoneyGeek also analyzed the cheapest homeowners insurance providers in Vermont for those more concerned with saving on their monthly bill.
The Best Homeowners Insurance in Vermont
The Best Overall Homeowners Insurance Companies in Vermont
Homeowners insurance protects your property in case of damage. MoneyGeek ranked homeowners insurance companies in Vermont based on affordability, customer satisfaction, claims experience and affordability to help you find the best option in the state.
According to our research, the best-rated home insurance companies in Vermont are:
- State Farm: MoneyGeek score of 87 out of 100
- Allstate: MoneyGeek score of 87 out of 100
USAA had a score of 88 out of 100, making it the best insurer in the state. However, its policies are limited to active and former military members and their families, so we did not include it in our rankings.
MoneyGeek’s analysis explains why State Farm and Allstate had the highest overall scores in the state and breaks down their unique discounts and coverage options.
The Top Home Insurance Companies in Vermont
State Farm ranks as the best home insurer in Vermont, scoring the highest in financial stability and satisfaction and the second highest in affordability. Policies cost an average of $1,043 per year. If you are a member of a homeowners association (HOA), you can purchase loss assessment coverage.
State Farm provides various uncommon coverages, including loss assessment coverage. This is available if you're a member of a homeowners association (HOA), and it covers your portion of a qualified loss that an HOA assesses to all its members. Also, there is a continuously insured discount depending on the duration that one’s policy has been active.
Allstate ranks as the second-best home insurance company in Vermont. It has the highest affordability and second-highest stability and satisfaction scores. Policies cost an average of $983 per year. Policyholders have the option to get home rental coverage.
Allstate has the second-highest overall score, according to the MoneyGeek ranking system. The insurer’s HostAdvantage® Home-Sharing Insurance provides additional protection for your belongings when renting out your home. Allstate also provides unique discounts like automatic payment and loyalty discounts. Policyholders can save on their premiums when they make automatic payments and remain Allstate customers.
MoneyGeek determined the best home insurance at a national level and in Vermont by sourcing quotes across providers within the country. We balanced the scores against customer satisfaction scores from J.D. Power as well as property claims ratings.
However, your costs and experience may vary depending on your circumstances. You can find out more using our methodology.
The Best Homeowners Companies in Vermont for Service Quality
If you value customer satisfaction and claims experience as opposed to policy costs, MoneyGeek ranked the best home insurance in Vermont according to these factors.
Based on the scores, the best insurers in Vermont are:
- State Farm: MoneyGeek score of 81 out of 100
- Allstate: MoneyGeek score of 80 out of 100
If you come from a military background, USAA has the best rating in Vermont, with a score of 100 out of 100. However, the company is not featured in MoneyGeek’s ratings because its policies are unavailable to non-military members.
MoneyGeek determined the discounts and unique coverage options offered by State Farm and Allstate for Vermont homeowners who want a quality customer experience regardless of policy costs.
The Top Home Insurance Companies in Vermont for Quality Service
State Farm is the best home insurance company in Vermont for service quality, with high-quality policy offerings and processes. The insurer had the second-highest MoneyGeek score on the customer satisfaction scale, translating into better policy offerings and processes.
State Farm ranked first in Vermont for providing the best experience to policyholders. The insurer provides optional home systems protection, which covers any loss resulting from an abrupt and accidental electrical or mechanical breakdown to permanently installed equipment in the home. In addition, there is an optional service line coverage that protects you from the cost of repairing and replacing faulty exterior underground water and sewer piping, data lines or electrical service lines.
Allstate provides the second-best home insurance in Vermont in terms of service quality. The provider ranks higher in terms of satisfaction versus claims, meaning it has great processes and policy offerings.
Allstate ranked as the second-best insurer in Vermont for customers who are interested in excellent service quality. The insurer provides various unique optional coverage options to policyholders. These include mold coverage and yard and garden coverage. Yard and garden coverage increases the limits for the price of landscaping, trees and riding lawnmowers. Mold coverage can be added upon request and provides protection for mold and fungi.
The Best Homeowners Companies in Vermont on a Budget
For individuals who want to purchase the best home insurance in Vermont at an affordable cost, MoneyGeek’s rankings reveal the best options.
The best insurers in Vermont for homeowners on a budget are:
- Allstate: MoneyGeek score of 93 out of 100
- State Farm: MoneyGeek score of 91 out of 100
Policies from Allstate cost an average of $983 per year, while State Farm policies cost approximately $1,043 annually. MoneyGeek breaks down why Allstate scored as the best insurer for customers on a budget, as well as its unique discounts and coverages.
The Top Home Insurance Companies in Vermont on a Budget
Affordable home insurance policies at an average of $983 per year
Discounts for bundling more than one policy, purchasing a newly constructed home and joining Allstate without any claims
Has no discount for home renovation for newly constructed homes
MoneyGeek satisfaction rating of 3.96 out of 5
Allstate had a MoneyGeek score of 93 out of 100 when it comes to affordability, which is the highest compared to other insurers in Vermont. The provider offers various discounts, including one for new customers who are claims-free. This discount also includes a claim-free bonus for individuals who renew their policies without having a claim. Allstate even has a bundling discount for customers who bundle home and auto insurance, as well as new home discounts for those who purchase newly constructed homes.
Some of Allstate’s rare discounts include automatic payment home buyer discounts (offered to customers who set up automatic payments) and recent home buyer discounts.
The Best Homeowners Companies in Vermont for Expensive Homes
If you have an expensive home that will cost a lot to rebuild, MoneyGeek researched the best-ranked home insurance companies in Vermont to find the right option for you.
MoneyGeek balanced the cost of a policy with $2 million in coverage with customer satisfaction. From the analysis, the best insurers in Vermont for expensive homes are:
- State Farm: MoneyGeek score of 84 out of 100
- Allstate: MoneyGeek score of 83 out of 100
USAA had a score of 97 out of 100. However, it is not part of MoneyGeek’s list because its policies are limited to military members and their families.
MoneyGeek analyzed why State Farm ranked the highest for expensive homes by examining its unique coverage and discount options.
The Top Home Insurance Companies in Vermont for High-Value Homes
Ranks second in affordability out of the four companies MoneyGeek evaluated
MoneyGeek satisfaction rating of 4.09 out of 5
State Farm ranks the best in Vermont for individuals with homes that could be costly to rebuild. The company had the second-highest score in affordability and the top score in customer satisfaction and stability.
State Farm provides many optional coverage options for high-value homeowners. These include cyber event/ ID theft and scheduled personal property coverage. Cyber event coverage is essential for identity restoration and covers the cost of case management services in case your identity is used fraudulently. Meanwhile, scheduled personal property coverage includes various limits for jewelry and furs, silverware and goldware, business property, firearms and fire department service charges.
The Best Homeowners Companies in Vermont for Veterans
If you are from a military family, MoneyGeek ranked the best home insurance companies in Vermont to ensure you find the best option. According to our scores, USAA has the top MoneyGeek score of 88 out of 100. The company only serves current and former military members as well as their families. These policyholders pay an average of $1,516 per year for coverage.
The Top Home Insurance Companies in Vermont for Veterans
Coverage caters to military families
MoneyGeek satisfaction score of 5 out of 5
Policies limited to individuals with a military background
MoneyGeek Affordability score of 3 out of 5
USAA has one of the highest customer satisfaction scores in Vermont, meaning it has better customer service than most other providers in the state. However, the provider only serves current and former military members and their families.
USAA offers various coverages and discounts, including contents replacement cost coverage, which is available on all its policies. This coverage pays for the cost of damaged personal belongings without considering depreciation. Eligible customers may also get earthquake and home rental coverage. These protect against damage caused by earthquakes and the costs incurred for renting the home out, respectively.
The Best Homeowners Companies in Vermont for Bundling
If you are looking for the best offers for bundling more than one type of insurance, MoneyGeek ranked the top home insurance policies that include the best car insurance in Vermont.
Bundling is one of the best ways for homeowners to save on their insurance premiums. Discounts may vary depending on the insurer.
Based on MoneyGeeks scores, the best home insurance companies in Vermont for bunding include:
- Allstate: MoneyGeek score of 88 out of 100
- State Farm: MoneyGeek score of 87 out of 100
Bundling your policies allows you to save more on your premiums and makes handling both auto and home insurance more convenient since everything is managed by one insurer.
The Top Home Insurance Companies in Vermont for Bundling
Homeowners insurance MoneyGeek score of 4.33 out of 5
Auto insurance MoneyGeek score of 4.27 out of 5
24% bundling discount
Based on MoneyGeek’s rating system, Allstate is the top insurance company for bundling. While it was the second-best overall, bundling car insurance makes it the best choice for homeowners seeking a coverage option that includes auto insurance.
This insurer offers unique optional coverages for customers who wish to bundle their policies. For instance, you can get energy efficiency upgrade coverage under home insurance that pays for the cost of replacing damaged or destroyed covered items with energy-efficient items.
You could also get new car replacement coverage if your car is two model years old or less, as well as accident forgiveness that prevents your premiums from going up if you get involved in an accident.
How to Find the Best Home Insurance in Vermont
When looking for the best home insurance in Vermont, you should consider options that balance affordability, financial stability and customer service. MoneyGeek determined the best providers in the state for different types of homeowners, although you can still do the research yourself using the following steps.
Research Customer Service Reputations in Vermont
Determining the customer service reputation of home insurance providers in Vermont can take time. MoneyGeek’s research allows you to get this information quickly. However, if you are interested in a company that’s not included in our research, you can check out the provider’s NAIC complaint ratio and J.D. Power satisfaction scores for your state. You may also find scores on the Vermont Department of Insurance website.
Compare Quotes for Yourself
MoneyGeek utilized a sample homeowner to obtain average home insurance costs in Vermont. These findings may not fit your unique situation, which means you will need to compare quotes across at least three insurance providers to get a more accurate estimate of your costs.
Make Sure the Company Has Coverages You Want in Vermont
Some insurance providers may advertise discounts and coverage options that they do not offer in some states. Be sure to find out the product offerings that an insurer offers within your area before purchasing a policy.
Double-Check Financial Stability Ratings
The financial strength of a company indicates how able they are to process your claims. Before purchasing a policy, ensure that you check the provider’s stability rating. Large insurance companies are often financially stronger, while regional companies may have lower scores.
FAQs About the Best Home Insurance in Vermont
The best-rated home insurance company in Vermont may vary based on your unique situation. To help you find the best option, MoneyGeek responded to some of the most common questions about home insurance in Vermont.
Expert Advice on Finding Cheap Home Insurance in Vermont
To help you find credible and accurate information on home insurance in Vermont, MoneyGeek received expert advice from established professionals. The perspectives and opinions expressed are those of the individual contributor.
- What should Vermont residents keep in mind when it comes to their home insurance rights as consumers?
- How does the Vermont Department of Financial Regulation help or protect consumers?
Deputy Commissioner of Insurance at the Vermont Department of Financial Regulation
MoneyGeek scores for homeowners insurance in Vermont were calculated by using a scaled and weighted average of J.D. Power Property Claims and Customer Satisfaction Scores, real homeowners insurance quotes and financial stability ratings from A.M. Best. Our scoring system weighted J.D. Power scores 60%, affordability 30% and financial stability 10%, adjusting weightings in the sections focused on affordability and service experience specifically.
MoneyGeek analyzed homeowners insurance quotes from the top insurance companies in Vermont that were provided in partnership with Quadrant. Our analysis includes quotes from ZIP codes across Vermont. Quotes were gathered with an average home profile of 2,500 square feet, built in 2000, with an average dwelling coverage value of $250,000, liability coverage of $100,000 and personal property coverage of $100,000.
About Mark Fitzpatrick