Vermont is an at-fault state, which means that if you cause an accident, you’re liable to pay for the other person’s damages. If you don’t have enough motorcycle insurance in Vermont, you might end up draining your savings. MoneyGeek looked at multiple factors to determine which carriers offer the best motorcycle insurance in Vermont. This allows you to have a better grasp of what options you have available so you can purchase the insurance policy that best fits your needs. We also show which insurers offer the cheapest motorcycle insurance in Vermont for liability-only and full-coverage policies.
Motorcycle Insurance in Vermont: The Cheapest Quotes and Best Companies
The Cheapest Motorcycle Insurance in Vermont
Motorcycle insurance in Vermont is mandatory. You’ll also need to have insurance if you want to buy and finance a bike from a dealer or when it’s time to renew its registration.
Most riders opt for a liability-only policy since it’s less expensive, but in an “at fault” state like Vermont, this might cause more harm than good. If you get into an accident and are at fault, you need to pay for the other person’s expenses. Liability-only policies work for this, assuming that your coverage limit is more than enough, but they don’t provide protection against damages to yourself and your bike.
Full-coverage policies may require you to pay more per year, but with inclusions like collision and comprehensive insurance, you also get more protection for your assets. The profile used for this analysis is a good rider in Vermont with 50/100/25 liability-only coverage.
Cheapest Liability-Only Motorcycle Insurance Quotes in Vermont
MoneyGeek compared quotes from several providers in the state and found the ones offering the cheapest motorcycle insurance in Vermont for liability-only policies are, on average:
- Markel: $125 per year
- Harley-Davidson: $129 per year
Shopping around for quotes before deciding on a policy can save you as much as $114 per year for liability-only motorcycle insurance. Markel’s rate is 47.7% lower than Nationwide’s, which is the most expensive insurer at an average of $239.
Average Annual Premium for Liability Coverage
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- CompanyAnnual Premium
Cheapest Full Coverage Motorcycle Insurance Quotes in Vermont
Purchasing full coverage offers you more protection when riding your bike, making it a better option for motorcycle insurance in Vermont. Including collision and comprehensive insurance gives you additional coverage. It saves you from costs caused by injuries in an accident or if you damage your bike. Also, riders who are still in the process of paying monthly amortization for their motorcycle often need a full-coverage policy rather than one that’s liability-only.
For a good rider with 50/100/25 coverage plus a $500 deductible for comprehensive and collision coverage, the carriers that offer the cheapest motorcycle insurance rates in Vermont on average are:
- Harley-Davidson: $219 per year
- Dairyland: $221 per year
With a difference of roughly $495, Harley-Davidson offers a full coverage policy that’s 69.3% cheaper than the most expensive option. Nationwide’s rate is an average of $714 each year for a policy with similar coverages.
Average Annual Premium for Comprehensive and Collision
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- CompanyAnnual Premium
What Is the Average Motorcycle Insurance Cost in Vermont?
Insurance providers offer varying rates for motorcycle insurance in Vermont, but they all consider various factors when calculating it. These include your age, riding experience and record. Your bike’s year, make and model are considered as well.
Using quotes from several carriers offering insurance, MoneyGeek found that the average cost of motorcycle insurance in Vermont with a full coverage policy is $337 per year or roughly $28 per month. Compared to the national average of $364 for every 12-month cycle, Vermont’s rate is $26 or 7% cheaper.
Liability-only policies, while providing limited protection, cost around $158 per year or $13 per month. This is higher than the national average of $141 by $17.
To calculate for Vermont averages, a good rider profile was used. It included $50,000/$100,000 coverage limits for bodily injuries, a $25,000 coverage limit for property damage, a $500 deductible for collision and comprehensive coverage. It also included minimum coverage for uninsured and underinsured motorists.
Car Insurance Costs by Coverage Type
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- Policy TypeAverage 12-Month Cost in VermontAverage 12-Month National CostVariance
- Full Coverage$337$364-$26
- Liability Only$158$141$17
The Best Motorcycle Insurance Companies in Vermont
Price is always a factor when evaluating which motorcycle insurance carrier you should go with, but other criteria should be considered as well. MoneyGeek used price as one of the categories to determine which company has the best motorcycle insurance in Vermont. Other categories evaluated included products and services offered and financial stability. You can see each category’s contribution to the overall score in the methodology section. The insurance company with the highest score in Vermont is Harley-Davidson.
After ranking several carriers in the state, MoneyGeek determined the companies with the best motorcycle insurance in Vermont are:
- Covers specific types of bikes, such as an autocycle
- Many add-on coverages available
- Acts as a one-stop-shop for various motorcycle needs
- Not available in all states
- Does not offer auto insurance, so bundling with a car insurance policy is not possible
- Coverages vary by state
Harley-Davidson is one of the most renowned motorcycle brands today, but not everyone is aware that they also offer insurance for motorcycles in Vermont. It has high scores in all three areas and has a perfect score in products and services, earning it the top spot with a total score of 98.59. A liability-only policy costs $129 per year, while a full-coverage policy has an annual cost of $219. The coverages and discounts they offer are a testament to their experience in the motorcycle industry. On top of the coverages their standard policy in Vermont includes, they also offer several unique add-ons. In the event of a total loss, Harley-Davidson uses replacement cost for both bikes and optional equipment. These are especially helpful if you own older bikes since depreciation is not computed. Although they are more than willing to insure motorcycles that are already 25 years old, they also offer a new vehicle discount if you want to insure a newly-purchased motorcycle. Other discounts are available as well.
- Multiple ways to submit a claim
- Has a mobile app
- No depreciation policy
- No breakdown coverage available
- Discounts vary by
- Premium prices are affected by the mode of purchase
Since they launched, Progressive has evolved to a strong brand in the insurance industry. Among several insurers in Vermont, it grabs second place with an overall score of 94.45. Progressive offers liability-only policies costing $137 each year and full-coverage policies for $272. Progressive’s standard full coverage policy includes coverages not often found in other policies. One of these is their OEM coverage, which assures you they’ll use parts of the same quality or better, regardless of whether these are OEM or customized. Their policy also includes a coverage limit of $3,000 for accessories. If you think you need more, you can choose to increase it to a maximum of $30,000. You can also take advantage of several discounts to lower your motorcycle insurance rate in Vermont. Progressive appreciates on-time payments, so you can get lower rates if you choose to pay in the policy in full and on time. You can also get discounts for taking a safety course, being a responsible driver, having multiple policies and more.
- Offers mechanical breakdown coverage
- Filing claims and paying premiums can be done online
- Several discounts offered
- No mobile app available
- Policies not offered in all states
- Roadside assistance does apply to dirt bikes and ATVs
Coming in third place on our list of the best motorcycle insurance in Vermont is Markel. This insurer earned a total score of 90.80 from MoneyGeek’s rating system. A liability-only policy with Markel in Vermont costs an average of $125 annually, while a full-coverage policy costs roughly $351 per year. Similar to other insurers, their policies come with coverage for accessories. The baseline coverage for this is $1,000, but you can increase it in increments of $1,000 up to a maximum of $30,000. Markel also offers unique coverages compared to other motorcycle insurance companies in Vermont. You can purchase a Mechanical Breakdown coverage, and the limit varies depending on your bike’s year, make and model. If you tow a trailer using your bike, there’s an add-on coverage that protects the trailer from damages. Markel also offers several discounts for riders in Vermont. You can take advantage of their Safe Driver discount if you haven’t had more than a single minor violation in three years. Another way to lower your rate is by completing a state-approved safety course. Installing theft-deterrent devices such as an alarm or a tracking device on your bike can also make you eligible for a discount.
How to Get a Motorcycle Insurance Quote in Vermont
You can save money by putting time into collecting motorcycle insurance quotes in Vermont and comparing them. It’s easy to get quotes online as long as you’re able to provide the following information:
- Your motorcycle’s year, make and model
- Your age and driving experience
- Your address in Vermont
- The number of riders who will drive the bike and their driving experiences
- Your preferred coverages (more information about this can be found below)
- How you store the bike overnight
How Much Motorcycle Insurance Coverage Do You Need in Vermont?
Most states require riders to have motorcycle insurance. In Vermont, having motorcycle insurance is vital because it’s considered an “at fault” state. This means you shoulder the other person's expenses if you’re responsible for the accident. If you don’t have the right coverage, you might end up having to use your savings.
The minimum state requirements for motorcycle insurance in Vermont are as follows:
- $25,000 per-person bodily injury liability
- $50,000 per-accident bodily injury liability
- $10,000 property damage liability
- Uninsured/underinsured motorist coverage
How Much Insurance Coverage Is Required in Vermont?
Riders in Vermont have to have motorcycle insurance with at least 25/50/10 coverage for bodily injury and property damage. This means that you get coverage up to $50,000 for all people injured in an accident, subject to a maximum coverage of $25,000 per person. You also have a coverage limit of $10,000 for property damage.
Do You Need Uninsured Motorist, Underinsured Motorist or PIP Coverage in Vermont?
Vermont insurance laws state that uninsured motorist and uninsured motorist coverages are mandatory. These coverages protect you from costs such as medical bills and lost wages if you can’t go to work because of the accident if the rider who caused it doesn’t have enough coverage in his policy. PIP coverage is not mandatory.
According to the Vermont Department of Financial Regulation, riders need uninsured/underinsured motorist coverage (UM/UIM) in the amounts of $50,000 in bodily injury or death per person, $100,000 bodily injury or death per accident and $10,000 property damage coverage.
Since the difference in cost is only incremental, MoneyGeek suggests that riders get 100/300/100 coverage with their motorcycle insurance in Vermont. Although a full coverage policy of 50/100/25 works, increasing your limits offers more protection. The same strategy should be followed for both uninsured and underinsured motorist coverages since they're required in Vermont.
Frequently Asked Questions About Motorcycle Insurance in Vermont
Since motorcycle insurance in Vermont is a requirement for any rider in the state, it’s crucial to understand available options. Below are the most commonly asked questions by riders in Vermont.
MoneyGeek used information from Vermont’s Department of Motor Vehicles and the Vermont Department of Financial Regulation to ensure materials are updated and accurate. Quotes were collected from various motorcycle insurance carriers in Vermont to determine which offers the cheapest premium. The best motorcycle insurance provider in Vermont was determined using three areas, including cost of the policy (60%), products and services (30%) and financial stability figures from AM Best (10%).
About the Author
- Bikebound. "Vermont Motorcycle Insurance." Accessed May 6, 2021.
- Department of Motor Vehicles – Vermont. "Financial Responsibility Insurance." Accessed May 5, 2021.
- Harley-Davidson Insurance. "The Right Motorcycle Insurance Coverage for You." Accessed May 6, 2021.
- Insurance Information Institute. "2020 Insurance Fact Book." Accessed June 11, 2021.
- Vermont Department of Financial Regulation. "Consumer’s Guide to Auto Insurance." Accessed May 6, 2021.
- Vermont General Assembly. "The Vermont Statutes Online – Financial Responsibility and Insurance." Accessed May 5, 2021.