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Average cost of car insurance in Vermont
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What To Know First
Vermont car insurance costs, on average, $1,061 per year for full coverage and $238 for minimum coverage. These rates are about half of the national annual averages, which are $2,014 and $622, respectively. To determine the average cost of car insurance in Vermont in different categories, Bankrate’s editorial team — which includes licensed insurance agents — analyzed rate data for various driver profiles provided by Quadrant Information Services.
These are some of the key findings from our analysis:
- Average full coverage car insurance in Vermont is 47 percent cheaper than the national average, and minimum coverage is 62 percent lower.
- Young drivers on their own policy pay some of the highest average rates in the state.
- Drivers with a DUI on their record pay an average of 107 percent more than the state average for full coverage car insurance.
- Having poor credit in Vermont could increase average rates by 72 percent, but drivers with excellent credit save an average of 11 percent.
On This Page
- How much is car insurance in Vermont?
- Vermont car insurance rates by city
- Average car insurance costs by age and gender in Vermont
- How does driving record impact the cost of car insurance in Vermont?
- Car insurance rates in Vermont by credit score
- Vermont car insurance rates by vehicle type
- How to save on car insurance in Vermont
- Estimate your car insurance cost
- Frequently asked questions
How much is car insurance in Vermont?
Vermont car insurance averages $1,061 for full coverage and $238 for minimum coverage per year. These rates are 47 percent and 62 percent cheaper than the national average of $2,014 and $622, respectively. Rates can vary widely by personal factors, which can include age, marital status, credit score, driving record and claims history. The company you choose, your coverage choices, limits and deductibles also factor into auto insurance premiums.
Average minimum coverage premium in Vermont | Average annual full coverage premium in Vermont |
---|---|
$238 | $1,061 |
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Vermont car insurance rates by city
While Vermont rates are far below the national average, some cities have higher average rates than others. We compared average rates for five of the largest Vermont cities to show how rates may differ. For instance, drivers living in Bennington pay around 1 percent more than the state average, but if you live in Burlington, you save about 7 percent. Characteristics like population density, crime statistics, weather and repair costs help determine rates by city.
Vermont city | Average annual full coverage premium | Percentage change from Vermont average annual full coverage premium |
---|---|---|
Bennington | $1,072 | 1% |
Burlington | $992 | -7% |
Colchester | $1,038 | -2% |
Rutland | $1,039 | -2% |
South Burlington | $977 | -8% |
Average car insurance costs by age and gender in Vermont
Although some states exclude age and gender as factors in car insurance rating, Vermont is not one of them. Young drivers typically pay more than older drivers, with rates usually dropping after age 25. Generally, rates for females are lower than for males, and in Vermont, rates may be lowest for drivers from ages 50 to 70. Gender tables reflect rates for drivers on their own policy, but rates for 16-year-olds are for drivers on their parents' policy.
Age | Average monthly full coverage premium in Vermont | Average annual full coverage premium in Vermont |
---|---|---|
Age 16* | $248 | $2,978 |
Age 18 | $339 | $4,070 |
Age 20 | $274 | $3,293 |
Age 25 | $123 | $1,471 |
Age 30 | $94 | $1,129 |
Age 40 | $90 | $1,078 |
Age 50 | $79 | $946 |
Age 60 | $77 | $920 |
Age 70 | $85 | $1,015 |
*16-year-old calculated on parents' policy with discounts applied; 18- and 20-year-old are renters on their own policies with no discounts applied
Age | Average monthly full coverage premium in Vermont | Average annual full coverage premium in Vermont |
---|---|---|
Age 16* | $214 | $2,567 |
Age 18 | $276 | $3,311 |
Age 20 | $223 | $2,679 |
Age 25 | $102 | $1,218 |
Age 30 | $90 | $1,082 |
Age 40 | $97 | $1,044 |
Age 50 | $78 | $933 |
Age 60 | $76 | $910 |
Age 70 | $84 | $1,010 |
*16-year-old calculated on parents' policy with discounts applied; 18- and 20-year-old are renters on their own policies with no discounts applied
Cost considerations for young drivers in Vermont
While 16- and 17-year-old drivers usually must be on their parents’ policy, drivers 18 and older can choose to be on their own. This choice often comes at a cost, as you can see in the table below. An 18-year-old driver could save around 36 percent being listed on their parents’ policy rather than their own. Note that some companies may require you to live in the same home as your parents to be listed on their policy.
Age | Average annual premium for drivers on their parents' policy in Vermont | Average annual premium for drivers on their own policy in Vermont |
---|---|---|
Age 16 | $2,773 | N/A* |
Age 17 | $2,602 | N/A* |
Age 18 | $2,350 | $3,690 |
Age 19 | $2,135 | $3,169 |
Age 20 | $2,070 | $2,986 |
*16- and 17-year-old drivers must be on their parents’ policy.
How does driving record impact the cost of car insurance in Vermont?
Although Vermont’s average insurance rate is $1,061 for full coverage, you typically pay more if you have a ticket or accident on your record. Below are the average amounts drivers pay with one speeding ticket, accident or DUI in their driving history. If you have more than one, or a combination of violations, you will likely pay more for car insurance and may need to look into high-risk car insurance options.
Driving incident | Average annual full coverage premium in Vermont | Percentage increase from Vermont average annual full coverage premium |
---|---|---|
Clean driving record | $1,061 | N/A |
Speeding ticket | $1,192 | 12% |
Accident | $1,363 | 28% |
DUI | $2,192 | 107% |
Car insurance rates in Vermont by credit score
Vermont car insurance rates may also vary based on your credit score, though this is not a factor in some other states. Drivers with an average credit score could see rates around 10 percent higher than the Vermont average, while having an excellent credit score could save you around 11 percent. It might pay to improve your credit score, since drivers with poor credit pay an average of 72 percent more for car insurance in the Green Mountain State.
Credit tier | Average annual full coverage premium in Vermont | Percentage change from Vermont average annual full coverage premium |
---|---|---|
Poor | $1,822 | 72% |
Average | $1,166 | 10% |
Good | $1,061 | N/A |
Excellent | $949 | -11% |
Vermont car insurance rates by vehicle type
Car insurance rates may vary greatly based on the value and age of your vehicle. Choosing the right make and model could get you cheap car insurance in Vermont. Luxury vehicles or those with high repair costs typically are more expensive to insure.
Vehicle | Average annual full coverage premium in Vermont |
---|---|
Toyota Camry | $1,061 |
Ford F-150 | $870 |
Honda Odyssey | $898 |
BMW 330i | $1,330 |
Toyota Prius | $1,051 |
How to save on car insurance in Vermont
Vermont car insurance rates are low compared to other states, but your rates might be even lower with the right steps. Here are our top five ways to save on car insurance:
- Shop around: If you want to find the cheapest car insurance, most insurance professionals recommend comparing quotes for the same coverage levels from various carriers. This may help you see who can offer you the lowest rates for your circumstances.
- Compare discounts: Most carriers offer at least a handful of discounts to help drivers save. Looking for discounts which you may be eligible for could help you choose the cheapest auto insurance company. Common discounts to look for include safe driver, paid-in-full, good student and bundling.
- Increase your deductible: The higher your deductible is, the less you will typically pay each month for car insurance. You can compare different deductible options to see if a lower deductible offers meaningful savings and choose a deductible amount that fits your budget and comfort level.
- Drive an older car: New cars typically cost more to insure because they have more expensive parts and labor costs. An older car may save you money, but it depends on the car. Consider finding one that is reliable and has a high safety rating. To save even more, you might look for a car that also pairs with qualifying vehicle discounts.
- Increase your credit score: In Vermont, it is legal for car insurance companies to increase your premium because of a low credit score. Insurance companies do this because drivers with low credit scores are statistically more likely to file a claim than drivers with strong credit scores. With an improved credit score, your premium will often decrease.
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