Best homeowners insurance in Vermont of 2023

Compare the best homeowners insurance companies in Vermont

It may be difficult to know which home insurance company could provide the best coverage for your home. Our top choices — USAA, Allstate, Travelers, State Farm and Vermont Mutual — provide a strong combination of coverage types, discounts and low premium rates for Vermonters. We also looked at third-party rankings from J.D. Power for customer satisfaction and AM Best for financial strength. Most of our chosen companies came in with average rates that are below the Vermont annual average of $658 for $250K in dwelling coverage. Our sample average rates were pulled from data supplied by Quadrant Information Services. The table below includes our picks for the best Vermont homeowners insurance companies.

The top 5 home insurance companies in Vermont

How Bankrate chose the best home insurance companies in Vermont 

At Bankrate, we understand that finding the best home insurance company is often about more than just price. In addition to average rates, we looked at coverage options, discounts, digital tools and third-party customer satisfaction scores and financial strength rankings to help you find the best company for your insurance needs. Weighing all these factors, we assigned each carrier a comprehensive Bankrate Score out of 5.0 points. We hope this Score will give you a holistic overview of each carrier as you narrow down your choices.

How much is home insurance in Vermont?

The average cost of homeowners insurance in Vermont is $658 per year for $250K in dwelling coverage. That is less than half the national average of $1,428 per year. Vermont also has the cheapest average home insurance rates in New England. For comparison, home insurance in Massachusetts costs an average of $1,199 per year, and in New Hampshire, it costs an average of $736 per year.

Vermont’s New England neighbors may pay higher homeowners insurance premiums because they face a greater risk of hurricane damage. According to the Insurance Information Institute, no Vermont homes face storm surge risk, while nearly 152,000 Massachusetts homes are at risk of a Category 4 hurricane. Vermont also has a lower crime rate than many nearby states. 

Your home insurance rates may vary from these averages based on your personal rating factors and the details of your home. The amount of dwelling coverage you have also causes rates to fluctuate. Below you can see average rates from the top home insurance companies in Vermont by coverage level.

How to find the best cheap home insurance in Vermont

Even with low average rates, many Vermonters may be looking for ways to save on their home insurance policy. These strategies may help you find lower rates:

1. Compare rates from different carriers: Each insurance company has its own formula for calculating rates and may weigh different rating factors differently. Requesting quotes for the same coverage types and limits from a handful of carriers may help you determine who could offer you the lowest rates for your needs.
2. Review your coverage choices: A knowledgeable agent may be able to help you determine if you are purchasing the right amount of coverage for your property. Reviewing your coverage selections and limits may help you understand if there are any that you would feel comfortable reducing or eliminating. 
3. Review your deductible: If you can afford to raise your deductible, you may be able to save money on your premium. Keep in mind, however, that you will need to pay that deductible before your insurance kicks in after a covered loss, so you probably don't want to raise it higher than you can comfortably afford to pay with little notice. 
4. Improve your credit score: In Vermont, insurance companies look at your credit-based insurance score when determining premiums and tend to charge higher rates for poor credit. Improving your credit score may help you get a lower rate.

Common home insurance discounts in Vermont

Another way to save money on your Vermont homeowners insurance may be through the use of discounts. Most insurers offer at least a few of these to policyholders, and it's one of the reasons why it may be a good idea to review your policy annually. Here are some of the common discounts you may see across multiple carriers:

Home insurance coverage types in Vermont

In addition to the standard coverage types included in a homeowners insurance policy, some homeowners in Vermont may want additional coverage. Available as endorsements or standalone policies, these add-ons may offer coverage in areas not included in a standard homeowners insurance policy, or they may offer enhanced coverage for existing coverage types. Common endorsements for Vermont homeowners may include: 

• Flood insurance: Flood insurance is not included in a standard home insurance policy and may not be available from all carriers. If you cannot find a provider, you may be able to purchase a policy from FEMA’s National Flood Insurance Program.
• Valuables insurance: While most policies will include coverage for personal belongings, there are limits to what they will cover. Without adequate coverage, you could be left with the bill should you ever experience damages or a loss. If you have expensive valuables, you may want to talk to your agent about what coverage is right for you.
• Identity theft/fraud coverage: As the world continues to go digital, identity theft and fraud protection may be more important than ever. Thankfully, many providers offer this coverage to help restore your identity after a breach. 
• Personal property replacement cost coverage: The cost of a new television today is likely a lot more than what you could sell your existing one for. This coverage type is designed to ensure your belongings are covered at today's market value, rather than their depreciated value.

Frequently asked questions