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Cheapest car insurance in Vermont for 2023
According to Bankrate’s analysis, State Farm and Union Mutual may offer lower-than-average car insurance rates in Vermont.
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The cheapest car insurance companies in Vermont
In a state renowned for its sparse population, Vermont residents often enjoy more affordable car insurance rates compared to the national average. For instance, the average cost for minimum coverage in the state is approximately $238 per year, significantly lower than the national average of $622. Full coverage in Vermont averages around $1,061 per year, while the U.S. average is nearly double at $2,014. However, your rate may vary based on individual factors, such as driving history, claims record and vehicle type.
Therefore, those seeking the cheapest car insurance in Vermont should consider a range of providers, as the most cost-effective option may differ from driver to driver. Exploring cheap auto insurance in Vermont and comparing different insurers can help drivers find a policy that best suits their individual needs and budget.
Key takeaways
- Cheapest company for minimum coverage: Union Mutual
- Cheapest company for full coverage: State Farm
- Cheapest companies for drivers with prior incidents: Union Mutual and USAA
- Cheapest company for young drivers: State Farm and USAA
Compare auto insurance rates
Coverage.com, LLC is a licensed insurance producer (NPN: 19966249). Coverage.com services are only available in states where it is licensed. Coverage.com may not offer insurance coverage in all states or scenarios. All insurance products are governed by the terms in the applicable insurance policy, and all related decisions (such as approval for coverage, premiums, commissions and fees) and policy obligations are the sole responsibility of the underwriting insurer. The information on this site does not modify any insurance policy terms in any way.
Coverage.com, LLC is a licensed insurance producer (NPN: 19966249). Coverage.com services are only available in states where it is licensed. Coverage.com may not offer insurance coverage in all states or scenarios. All insurance products are governed by the terms in the applicable insurance policy, and all related decisions (such as approval for coverage, premiums, commissions and fees) and policy obligations are the sole responsibility of the underwriting insurer. The information on this site does not modify any insurance policy terms in any way.
Cheapest car insurance in Vermont for minimum coverage
In Vermont, drivers often consider liability-only, or minimum coverage car insurance, for its affordability. Though cost-effective and compliant with the car insurance laws in your state, it’s important to note that this basic coverage offers limited financial protection. Among insurers in Vermont, Union Mutual stands out for offering particularly cheap minimum coverage. However, drivers should assess if this balance of lower premiums and reduced coverage suits their individual needs and risk tolerance.
| Carrier | Monthly min coverage premium | Annual min coverage premium | Savings vs state avg. for min coverage |
|---|---|---|---|
|
Union Mutual
|
$13
|
$154
|
- $84 |
|
$15
|
$183
|
- $55 |
|
|
$17
|
$201
|
- $37 |
|
|
$17
|
$208
|
- $30 |
Coverage.com, LLC is a licensed insurance producer (NPN: 19966249). Coverage.com services are only available in states where it is licensed. Coverage.com may not offer insurance coverage in all states or scenarios. All insurance products are governed by the terms in the applicable insurance policy, and all related decisions (such as approval for coverage, premiums, commissions and fees) and policy obligations are the sole responsibility of the underwriting insurer. The information on this site does not modify any insurance policy terms in any way.
Minimum coverage requirements for Vermont drivers
To comply with Vermont state laws, drivers are legally required to carry the following amount of car insurance:
- $25,000 bodily injury liability per person
- $50,000 bodily injury liability per accident
- $10,000 property damage liability per accident
- $50,000 uninsured/underinsured motorist coverage per person
- $100,000 uninsured/underinsured motorist coverage per accident
- $10,000 uninsured/underinsured motorist property damage per claim
While purchasing the legal minimum level of car insurance may be a tempting option for your wallet, it might end up costing you more in the long run. Minimum coverage car insurance does not offer coverage for your own vehicle if you cause an accident. Additionally, the liability limits may not be high enough to cover the damage and injuries others sustain if you are deemed at fault for an accident.
If you lease a vehicle or have an outstanding car loan, your lender may require you to purchase full coverage, including comprehensive and collision coverage. Adding coverage will most likely increase your monthly premium but may provide you greater financial protection after an accident.
Cheapest car insurance in Vermont for full coverage
When considering full coverage car insurance in Vermont, drivers often look beyond the state's minimum requirements to ensure more comprehensive protection. Full coverage typically encompasses liability, collision and comprehensive insurance, covering a wider range of scenarios, from accidents to non-collision-related damage. While this option generally comes with higher premiums, it may offer peace of mind through enhanced coverage. Among the various providers in Vermont, State Farm is recognized for its competitively priced full coverage options.
| Carrier | Monthly full coverage premium | Annual full coverage premium | Savings vs state avg. for full coverage |
|---|---|---|---|
|
$70
|
$836
|
- $225 |
|
|
$75
|
$895
|
- $166 |
|
|
$76
|
$906
|
- $155 |
|
|
$80
|
$963
|
- $98 |
|
|
Union Mutual
|
$106
|
$1,268
|
+ $207 |
Coverage.com, LLC is a licensed insurance producer (NPN: 19966249). Coverage.com services are only available in states where it is licensed. Coverage.com may not offer insurance coverage in all states or scenarios. All insurance products are governed by the terms in the applicable insurance policy, and all related decisions (such as approval for coverage, premiums, commissions and fees) and policy obligations are the sole responsibility of the underwriting insurer. The information on this site does not modify any insurance policy terms in any way.
Cheapest car insurance in Vermont for drivers with prior incidents
Drivers with prior incidents on their records, such as tickets or at-fault accidents, often face higher car insurance rates due to the increased risk perceived by insurers. These incidents typically lead to a reassessment of a driver's risk profile, resulting in adjusted premiums to reflect the heightened likelihood of future claims.
However, several insurance companies in Vermont specialize in offering more affordable options for such drivers. These carriers provide tailored solutions that consider the unique circumstances of individuals with a history of driving incidents, striving to offer competitive rates without compromising on coverage quality. The following sections will explore the cheapest car insurance options in Vermont for drivers with prior incidents.
- Cheapest car insurance for drivers with a ticket: Union Mutual
- Cheapest car insurance for drivers with an at-fault accident: Union Mutual
- Cheapest car insurance for high-risk drivers: USAA
Cheapest insurance companies for drivers in Vermont with a speeding ticket: Union Mutual
Speeding ticket convictions in Vermont may also cause your rates to increase. Drivers who have been convicted of speeding may be deemed high-risk by their insurance providers, which means that they will likely wind up paying more each month for car insurance coverage. Even with a speeding ticket on your record, it may still be possible to get cheap car insurance in Vermont from the providers listed below— particularly Union Mutual, which offers the most affordable rates for drivers in this category, per Bankrate’s research.
| Company | Avg annual min coverage premium | Avg annual full coverage premium |
|---|---|---|
| Union Mutual | $154 | $1,268 |
| USAA | $208 | $1,207 |
| Geico | $227 | $1,085 |
| State Farm | $240 | $975 |
| Allstate | $395 | $2,567 |
Cheapest car insurance for drivers in Vermont with an at-fault accident: Union Mutual
Similar to speeding ticket convictions, getting into an at-fault accident may also cause your rates to climb. Drivers who have been involved in recent accidents are typically seen as more at risk for future accidents. More accidents lead to more insurance claims, which may cost your insurance provider quite a bit of cash. If you haven't been in an accident but are concerned about the potential rate impact of a crash, you might consider accident forgiveness coverage if your carrier offers it. For Vermont drivers with at-fault accidents on their record, Union Mutual emerges again as a potentially affordable option.
| Company | Avg annual min coverage premium | Avg annual full coverage premium |
|---|---|---|
| Union Mutual | $155 | $1,268 |
| State Farm | $267 | $1,077 |
| USAA | $273 | $1,313 |
| Geico | $301 | $1,440 |
| Allstate | $426 | $2,671 |
Cheapest rates in Vermont for high-risk drivers: USAA
Most carriers categorize drivers with a DUI conviction, multiple speeding tickets, accidents or instances of driving without insurance as high-risk. High-risk drivers in Vermont typically face above-average premiums for car insurance and may encounter difficulties obtaining coverage from some insurers. Disclosing complete information about your driving record is crucial to determining eligibility for coverage with a specific carrier.
In Vermont, USAA offers competitive rates for high-risk drivers, standing out as the cheapest option in this category. However, it's important to note that USAA's services are exclusively available to veterans, active-duty military and their qualifying family members. For those who do not meet USAA's eligibility criteria, Geico emerges as the next most affordable option.
| Company | Avg. annual min coverage premium | Avg. annual full coverage premium |
|---|---|---|
| USAA | $368 | $1,832 |
| Geico | $432 | $2,075 |
| Allstate | $481 | $2,808 |
| New England Guaranty Insurance Co. | $594 | $5,938 |
| Union Mutual | $615 | $5,499 |
Bankrate’s take: In Vermont, an SR-22 is required for drivers classified as high risk, typically after serious traffic violations like DUI or reckless driving. This certificate, which is filed by a driver’s insurance company, proves that the driver meets the state's minimum liability insurance requirements. Vermont mandates that drivers maintain the SR-22 for three years, ensuring continuous coverage and demonstrating financial responsibility.
Cheapest car insurance for young drivers in Vermont
Age is a significant factor that insurance companies consider when determining car insurance rates in Vermont. Teens and young adults often face higher premiums due to their relative inexperience behind the wheel, which statistically links to a higher likelihood of accidents and claims. This age-related increase in rates is a common industry practice, reflecting the increased risk insurers associate with younger drivers. The following sections will detail the most cost-effective insurance options in Vermont for various scenarios involving young drivers.
- Cheapest car insurance for insuring a teen driver: State Farm
- Cheapest car insurance for teens with a ticket: USAA
- Cheapest car insurance for teens with an at-fault accident: USAA
- Cheapest car insurance for young drivers with a DUI: USAA
Cheapest Vermont car insurance for insuring a teen driver: State Farm
Teen drivers in Vermont, due to their inexperience and higher accident risk, typically face higher car insurance premiums. However, insurers offer ways to mitigate these costs through teen-specific discounts, such as good student discounts. Such considerations can be helpful for families seeking cost-effective insurance solutions while managing the added expenses that come with a teen driver hitting the road. Note that the rates discussed below apply to a 16-year-old driver included on their married parents' policy.
| Company | Avg. annual min coverage premium | Avg. annual full coverage premium |
|---|---|---|
| State Farm | $491 | $1,869 |
| Geico | $498 | $2,266 |
| USAA | $525 | $2,333 |
| Nationwide | $596 | $1,386 |
| Union Mutual | $653 | $5,880 |
Bankrate’s take: When adding a teen driver to a car insurance policy in Vermont, insurers consider the heightened risk associated with younger, less experienced drivers. Data show a greater propensity for accidents and traffic violations among this age group. This perception is grounded in the understanding that teens, with their limited driving experience, are more likely to make errors in judgment or lack the necessary skills to navigate complex traffic situations safely. Consequently, insurers typically charge higher premiums for teen drivers to offset the increased risk of claims. This approach underscores the importance of considering various insurance options to find a policy that balances cost with the necessary coverage for young drivers, while also encouraging safe driving habits to help reduce perceived risk over time.
Cheapest Vermont car insurance for teens with a ticket: USAA
Teen drivers in Vermont who have received a speeding ticket may find their car insurance rates impacted significantly. For these young motorists, USAA offers some of the most competitive rates to those who qualify for coverage. For drivers not eligible for USAA, State Farm presents itself as a viable alternative. Here, the rates that are reflected in the table are for 18-year-old drivers on their own policy.
| Company | Avg. annual min coverage premium | Avg. annual full coverage premium |
|---|---|---|
| USAA | $566 | $2,762 |
| State Farm | $660 | $2,738 |
| Allstate | $752 | $6,263 |
| Geico | $818 | $3,677 |
| Nationwide | $1,439 | $3,084 |
Cheapest Vermont car insurance for teens with an at-fault accident: USAA
A teen driver involved in an at-fault accident can usually expect a noticeable increase in car insurance premiums, reflecting the heightened risk from the insurer's perspective. For these scenarios, USAA stands out for offering cheap car insurance in Vermont, though its availability is limited. For teens not eligible for USAA, State Farm emerges as the second most affordable choice, providing a feasible option for those seeking to manage the financial implications of an at-fault accident on their insurance costs.
| Company | Avg. annual min coverage premium | Avg. annual full coverage premium |
|---|---|---|
| USAA | $630 | $2,979 |
| State Farm | $741 | $3,060 |
| Allstate | $822 | $6,650 |
| Geico | $875 | $3,934 |
| Nationwide | $1,475 | $3,290 |
Bankrate’s take: Vermont follows a fault-based or tort system for car insurance, meaning the driver at fault for an accident is liable for damages. This contrasts with no-fault states where each party's insurance covers their own losses. Vermont also employs a modified comparative fault rule, allowing a driver to recover losses if they are less than 51 percent at fault, though their compensation is reduced by their fault percentage.
Cheapest Vermont car insurance for young drivers with a DUI: USAA
Young drivers with a DUI on their record often face significant challenges in securing affordable car insurance, as a DUI generally results in substantially higher rates due to the increased risk profile. For young drivers in this situation in Vermont, USAA often provides the most competitive rates, though eligibility is restricted to those with military connections. Allstate is another option that offers relatively cost-effective insurance for young drivers with a DUI, positioning itself as a secondary choice for those who don't meet USAA's criteria. It's important to note that the rates discussed here are specifically for a 21-year-old driver holding their own policy.
| Company | Avg. annual min coverage premium | Avg. annual full coverage premium |
|---|---|---|
| USAA | $632 | $2,945 |
| Allstate | $646 | $4,215 |
| Geico | $666 | $3,243 |
| Union Mutual | $889 | $7,482 |
| New England Guaranty Insurance Co. | $896 | $8,441 |
Cheapest car insurance rates by city in Vermont
Like your coverage level, your location also influences what you pay for car insurance. Even within cities, different ZIP codes may have different average car insurance rates. Accident statistics, local claims rates and the cost of living can all play a role in how your carrier calculates your premium. Here, you can see cheap car insurance companies in Vermont for the five largest cities and the top five cities overall.
| City | City avg. annual minimum coverage premium | Cheapest car insurance company | Company avg. annual minimum coverage premium |
|---|---|---|---|
| Burlington | $262 | State Farm | $216 |
| South Burlington | $262 | USAA | $187 |
| Bennington | $240 | Union Mutual | $162 |
| Rutland | $260 | Union Mutual | $190 |
| Brattleboro | $235 | Union Mutual | $138 |
| City | City avg. annual minimum coverage premium | Cheapest car insurance company | Company avg. annual minimum coverage premium |
|---|---|---|---|
| Greensboro Bend | $226 | Union Mutual | $138 |
| East Burke | $226 | Union Mutual | $138 |
| Craftsbury Common | $226 | Union Mutual | $138 |
| Saint Johnsbury Center | $226 | Union Mutual | $138 |
| Craftsbury | $226 | Union Mutual | $138 |
Car insurance discounts in Vermont
Most car insurance discounts are fairly easy to earn, and you might be able to stack discounts for significant savings. Although the exact selection of available discounts will vary from provider to provider, these are some of the most common:
- Young driver discounts: Young drivers experience high average rates, but they may be able to save with discounts for safe driving, good students and leaving a car at home while away at college.
- Safe driver discounts: Many carriers have telematics programs that may reward drivers for demonstrating safe driving habits. Savings may also be available for remaining accident or claims-free for a set period of time.
- Other discounts: There are dozens of potential discounts out there depending on the provider. You might save by opting for paperless billing, bundling your policies, driving a hybrid or electric vehicle, owning a home and more.