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Vermont Mutual insurance review 2024

Updated Jan 17, 2024

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Bankrate's take

New England policyholders looking for a local company with several insurance coverage options may want to consider Vermont Mutual as their company of choice.

Who Vermont Mutual may be good for: Vermont Mutual offers affordable average rates for both auto and homeowners insurance for policyholders in most categories, so customers looking for a great deal may want to consider the insurer.

 

Who Vermont Mutual may not be good for: Vermont Mutual only offers coverage in a few select states in the New England region. Consumers in other regions may need to look elsewhere for insurance coverage. It does not offer life insurance, which may deter some customers looking to purchase home, auto and life policies from the same company.

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Vermont Mutual car insurance

If you’re shopping for the best car insurance in New England, you may have come across Vermont Mutual. The provider could be a good choice if you live in the New England area, want a regional insurance carrier and to work directly with a local insurance agent. Vermont Mutual car insurance is limited to Maine, Massachusetts, New Hampshire and Vermont.

The carrier offers standard car insurance coverage types like bodily injury liability, property damage liability, comprehensive coverage and collision coverage, among others. Endorsement options and a full list of discount opportunities are not listed online and may vary by state, if available. The company suggests reaching out to one of its local independent agents for more information.

Pros and cons of Vermont Mutual car insurance

When comparing car insurance quotes, it’s important to evaluate the carrier itself. Below are some pros and cons if you’re considering Vermont Mutual car insurance:

Pros
  • Multi-policy discount could be earned by bundling home and auto insurance

  • Discount opportunities available for insuring more than one car and having vehicle safety features

  • Local agents are available for assistance

Cons
  • Auto insurance coverage limited to Maine, Massachusetts, New Hampshire and Vermont

  • No mobile app or live chat availability for policy management and questions

  • Claims office is not open 24/7, though there is a phone number for after-hours claims reporting

Vermont Mutual car insurance cost

Full coverage car insurance from Vermont Mutual Insurance costs an average of $1,061 per year while minimum coverage costs $308 per year, according to Bankrate’s analysis of annual premiums sourced from Quadrant Information Services. For comparison, the national average cost of car insurance is $2,014 per year for full coverage and $622 per year for minimum coverage. However, individual insurance rates are based on numerous factors and will vary per situation, especially if you are looking for cheap car insurance. The table below compares Vermont Mutual’s average annual full coverage premiums to the national average based on a variety of scenarios to give you a better starting point in your search.

Vermont Mutual car insurance rates by driving history

Driving record plays an integral role in determining car insurance rates, which is why car insurance costs can vary from driver to driver. Receiving a speeding ticket or being involved in an at-fault accident could significantly raise rates for years to come. Receiving a DUI citation is one of the most serious driving infractions you can receive, and although these average car insurance rates have been included, there is no guarantee Vermont Mutual will accept drivers with a DUI. If you have a DUI conviction, you may need to contact Vermont Mutual directly to see if you are able to get a car insurance quote.

Vermont Mutual full coverage premium National full coverage premium
Clean driving history $1,061 $2,014
Speeding ticket conviction $1,305 $2,427
At-fault accident $1,630 $2,854
DUI conviction $3,376 $3,091

*All rates displayed are average annual rates.

Vermont Mutual car insurance quotes by age

A driver’s age and years of driving experience can also influence car insurance rates. Teen drivers and newly licensed drivers may be more likely to get into accidents compared to older drivers due to their lack of experience, and as such, typically face higher car insurance rates than other age groups.

Keep in mind that, in Massachusetts — one of the states served by Vermont Mutual — insurers are not allowed to use your age as a factor in determining your car insurance rate. Years of driving experience, however, are allowed to be used, so younger drivers may not see much savings compared to other states.

Average cost of car insurance for drivers on their parents’ policy
Vermont Mutual full coverage premium National full coverage premium
Age 16 $2,887 $4,392
Age 17 $2,887 $4,102
Age 18 $2,887 $3,837
Age 19 $2,338 $3,345
Age 20 $2,337 $3,149

*All rates displayed are average annual rates.

Average cost of car insurance for drivers on their own policy 
Vermont Mutual full coverage premium National full coverage premium
Age 18 $4,776 $6,110
Age 25 $1,395 $2,473
Age 30 $1,112 $2,125
Age 40 $1,061 $2,014
Age 60 $999 $1,824

*All rates displayed are average annual rates.

Vermont Mutual car insurance discounts

Although Vermont Mutual’s average car insurance rates are fairly low compared to the average, you may still be looking to save. The company does offer some standard discount opportunities, although not all are listed on its website. Some common auto insurance savings are available, but a local Vermont Mutual auto insurance agent may be able to help you identify a full list of available discounts.

If you carry an auto insurance policy with Vermont Mutual, you can get a discount for installing certain safety or security equipment, such as anti-theft devices or airbags.
Drivers can get a discount on their insurance policy if they have multiple vehicles on their plan.
Customers who bundle their home and auto insurance policies with the company may save. However, this discount is limited to states where Vermont Mutual writes both auto and home policies: Massachusetts, Maine, New Hampshire and Vermont.
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Vermont Mutual home insurance

Vermont Mutual did not make our list of best home insurance companies, due in part to its small regional size. However, it could be a good choice for New England homeowners exploring insurer options and comparing quotes, especially those who want a company with regional service history and local agents.

Compared to larger companies, the home coverage from Vermont Mutual is relatively basic, but there are a few endorsements that you could add to personalize your coverage. Vermont Mutual has three levels of its Home Broadening Endorsements, each of which comes with its own set of added coverage to the base home insurance policy. By adding an expanded coverage level, homeowners could benefit from add-ons such as debris removal, identity fraud and other coverage types, depending on the package. Talking with an agent may help you gather more information about the endorsements available.

Pros and cons of Vermont Mutual home insurance

Vermont Mutual homeowners insurance could be a great fit for some. Here are some advantages and disadvantages of the company to consider when making your decision.

Pros
  • Home Business Endorsement available for those who run their own business from home

  • Depending on the type of endorsement package selected, a home policy could include coverage for home systems and underground service lines

  • Local agents available for assistance

Cons
  • Quoting not available online

  • Limited state availability

  • All available home insurance discounts not advertised

Vermont Mutual home insurance cost

On average, Vermont Mutual home insurance costs $649 per year for a policy with $250,000 in dwelling coverage. In comparison, the national average cost of home insurance is $1,428 per year for the same amount of coverage. The size of your home, its location and other features could cause your home insurance rates to vary from these estimates below, especially if you are looking for cheap home insurance. That said, budget-minded homeowners may be attracted to Vermont Mutual’s low average rates:

Dwelling coverage limit Vermont Mutual average premium National average premium
$150,000 $458 $975
$250,000 $649 $1,428
$350,000 $850 $1,879
$450,000 $1,057 $2,343
$750,000 $1,698 $3,761

*All rates displayed are average annual rates.

Vermont Mutual home insurance discounts

Unfortunately, Vermont Mutual does not list any home insurance discounts on its website. Local agents will likely have more information about the discounts offered — if any — in your area. In order to get a better picture of what discounts are available, you will need to contact an agent.

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This advertisement is powered by Coverage.com, LLC, a licensed insurance producer (NPN: 19966249) and a corporate affiliate of Bankrate. The offers and links that appear on this advertisement are from companies that compensate Coverage.com in different ways. The compensation received and other factors, such as your location, may impact what offers and links appear, and how, where and in what order they appear. While we seek to provide a wide range of offers, we do not include every product or service that may be available. Our goal is to keep information accurate and timely, but some information may not be current. Your actual offer from an advertiser may be different from the offer on this advertisement. All offers are subject to additional terms and conditions.
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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.

Quick Facts
Moneybag
$382/year
average savings through Bankrate
Two Thirds
2 out of 3 homes
are underinsured
Insurance Home
1 out of every 20
insured homes makes a claim each year
Circle Check
100% of homes
need insurance before getting a mortgage
Mortgage

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Compare Vermont Mutual with other insurers

If you want to compare other providers to Vermont Mutual, it may be helpful to consider the following list of carriers.

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Vermont Mutual

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Rating: 0 stars out of 5
0
Info
Read review Read Bankrate's full Vermont Mutual Insurance review
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Amica

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Rating: 4.6 stars out of 5
4.6
Info
Read review Read Bankrate's full Amica Insurance review
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Nationwide

Item
Rating: 4.2 stars out of 5
4.2
Info
Read review Read Bankrate's full Nationwide Insurance review
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USAA

Item
Rating: 4.5 stars out of 5
4.5
Info
Read review Read Bankrate's full USAA Insurance review
Overview
Overview
Overview
Overview
Customers who want insurance from a regional carrier and want to work entirely with a local agent could consider Vermont Mutual if they live in one of the states where it offers coverage.
With highly-rated customer service scores from J.D. Power, and high AM Best and Standard & Poor’s (S&P) financial strength ratings, Amica could be a strong option for insurance coverage, while allowing you to keep your insurance local. The carrier is headquartered in Rhode Island, but available nationwide (except Hawaii).
If you’re looking for a company with more products and services than Vermont Mutual, Nationwide may be worth considering. The carrier offers both insurance and financial products for more complete financial planning and is available in a much broader coverage area.
If you are an active-duty military member, USAA tends to be a popular choice for military-focused coverage. The company is only available to military and their families but has historically earned some of the highest scores for financial strength and customer service, helping it tie for a 2024 Bankrate Award for Best Home Insurance Company Overall.
Avg. full coverage auto rate
Avg. full coverage auto rate
Avg. full coverage auto rate
Avg. full coverage auto rate
$1,061
$1,467
$1,422
$1,678
Avg. home rate for $250k dwelling coverage
Avg. home rate for $250k dwelling coverage
Avg. home rate for $250k dwelling coverage
Avg. home rate for $250k dwelling coverage
$649
$2,996
$1,153
$1,041
J.D. Power Digital Experience Study - Service
J.D. Power Digital Experience Study - Service
J.D. Power Digital Experience Study - Service
J.D. Power Digital Experience Study - Service
Not rated
735/1,000
713/1,000
720/1,000
J.D. Power Digital Experience Study - Shopping
J.D. Power Digital Experience Study - Shopping
J.D. Power Digital Experience Study - Shopping
J.D. Power Digital Experience Study - Shopping
Not rated
516/1,000
519/1,000
498/1,000
AM Best rating
AM Best rating
AM Best rating
AM Best rating
A+ (Superior)
A+ (Superior)
A+ (Superior)
A++ (Superior)

Is Vermont Mutual a good insurance company?

Our insurance editorial team considers various data points and aspects of customer experience when reviewing providers, as well as our knowledge of more than 100 other insurance companies that we assessed. Bankrate’s Vermont Mutual Insurance review reveals that it may be the right choice for those who live within the carrier’s coverage areas and want to work exclusively with a local agent. For a personalized overview of its coverage options and discounts for home and car insurance, it may be best to reach out to an agent, as its website does not provide much information.

Customers who prioritize a digital experience and 24/7 customer service may not find Vermont Mutual to be a good fit. Its limited third-party reviews for customer satisfaction also mean that interested policyholders may need to do a little legwork and talk to other customers to determine if Vermont Mutual is the best car insurance company for their needs.

Vermont Mutual customer satisfaction

Insurance companies are often rated by third-party agencies for customer satisfaction and experience. As a smaller insurer, Vermont Mutual may not be as well-studied as some larger carriers. However, it received an A+ (Superior) rating from AM Best for financial strength, which indicates the company’s past ability to meet financial obligations, including claims.

Study or Rating agency Vermont Mutual Industry average
2023 J.D. Power Digital Experience Study - Service Not rated 702/1,000
2023 J.D. Power Digital Experience Study - Shopping Not rated 521/1,000
AM Best rating A+ (Superior) N/A

Vermont Mutual customer complaints

The National Association of Insurance Commissioners (NAIC) tracks complaints from consumers for each insurance company as it compares other insurance carriers by rating each company on a complaint index. The baseline of 1.0 represents the average number of complaints. A company with an NAIC rating above one has received an above-average number of complaints for an insurer of its size. A score below one means the insurance carrier receives fewer complaints than the average.

Vermont Mutual has a variable NAIC rating for private passenger auto complaints. In 2020, the index rating was above average, but in 2021 and 2022 the index rating for Vermont Mutual was below the average, indicating it has been doing some work on its customer experience.

Vermont Mutual’s homeowners insurance has fared even better than auto insurance on the complaint index; in the past three years, the company has not recorded an above-average index, indicating its home insurance customers are generally satisfied with their experience.

Other Vermont Mutual tools and benefits

  • Home business endorsement: Vermont Mutual gives the option to cover your home business under your homeowners policy.
  • Homeowners broadening coverages: The company gives comprehensive home coverage options that include appliance repairs, water backup and debris removal.
  • Renters insurance: For those renting and looking to cover their personal property and add liability coverage, Vermont Mutual offers renters insurance policies.
  • Umbrella insurance: Vermont Mutual customers can get additional insurance coverage by purchasing an umbrella insurance policy to cover personal assets.
  • Dwelling fire insurance: Get insurance coverage specifically for fires that happen at home.
  • Insurance coverage for valuable items: If you have fine jewelry or valuable art, you can cover these items with Vermont Mutual’s Inland Marine coverage.
  • Business insurance: Vermont Mutual offers multiple commercial insurance policy options, as well. These include commercial businessowners, inland marine and umbrella insurance for businesses.

Frequently asked questions about Vermont Mutual

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Methodology

Bankrate utilizes Quadrant Information Services to analyze 2023 rates for ZIP codes and carriers in all 50 states and Washington, D.C. Auto insurance rates are weighted based on the population density in each geographic region.

Auto

Quoted rates are based on a 40-year-old male and female driver with a clean driving record, good credit and the following full coverage limits:

  • $100,000 bodily injury liability per person
  • $300,000 bodily injury liability per accident
  • $50,000 property damage liability per accident
  • $100,000 uninsured motorist bodily injury per person
  • $300,000 uninsured motorist bodily injury per accident
  • $500 collision deductible
  • $500 comprehensive deductible

To determine minimum coverage limits, Bankrate used minimum coverage that meets each state’s requirements. Our base profile drivers own a 2021 Toyota Camry, commute five days a week and drive 12,000 miles annually.

These are sample rates and should only be used for comparative purposes.

Age: Rates were calculated by evaluating our base profile with the ages 16-60 (base: 40 years) applied. Depending on age, drivers may be a renter or homeowner. Age is not a contributing rating factor in Hawaii and Massachusetts.

The rates for drivers ages 16-20 added to their parents' policy reflect the good student and driver's training discounts applied. The rates for drivers aged 16-20 on their own policy do not include the good student and driver's training discounts. Additionally, 25-year-old rates are based on the driver as a renter and 30+ on the driver as a homeowner.

Incidents: Rates were calculated by evaluating our base profile with the following incidents applied: clean record (base), single speeding ticket and single at-fault accident.

Homeowners

Quoted rates are based on 40-year-old male and female homeowners with a clean claim history, good credit and the following coverage limits:

  • Coverage A, Dwelling: $150,000, $250,000, $350,000, $450,000, $750,000
  • Coverage B, Other Structures: $15,000, $25,000, $35,000, $45,000, $75,000
  • Coverage C, Personal Property: $75,000, $125,000, $175,000, $225,000, $375,000
  • Coverage D, Loss of Use: $30,000, $50,000, $70,000, $90,000, $150,000
  • Coverage E, Liability: $300,000, $300,000, $300,000, $300,000, $500,000
  • Coverage F, Medical Payments: $1,000

The homeowners also have a $1,000 deductible and a separate wind and hail deductible (if required).

These are sample rates and should be used for comparative purposes only. Your quotes will differ.

Bankrate Scores

Our 2023 Bankrate Score considers variables our insurance editorial team determined impacts policyholders’ experiences with an insurance company. These rating factors include a robust assessment of each company’s product availability, financial strength ratings, online capabilities and customer and claims support accessibility. Each factor was added to a category, and these categories were weighted in a tiered approach to analyze how companies perform in key customer-impacting categories.

Like our previous Bankrate Scores, each category was assigned a metric to determine performance, and the weighted sum adds up to a company’s total Bankrate Score — out of 5 points. This year, our 2023 scoring model provides a more comprehensive view, indicating when companies excel across several key areas and better highlighting where they fall short.

  • Tier 1 (Cost & ratings): To determine how well auto and home insurance companies satisfy these priorities, 2023 quoted premiums from Quadrant Information Services (if available), as well as any of the latest third-party agency ratings from J.D. Power, AM Best and the NAIC, were analyzed.
  • Tier 2 (Coverage & savings): We assessed companies’ coverage options and availability to help policyholders find a provider that balances cost with coverage. Additionally, we evaluated each company’s discount options listed on its website.
  • Tier 3 (Support): To encompass the many ways an auto insurance company can support policyholders, we analyzed avenues of customer accessibility along with community support. This analysis incorporated additional financial strength ratings from S&P and Moody’s and factored a company’s corporate sustainability efforts.

Tier scores are unweighted to show the company's true score in each category out of a possible five points.

Savings

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Written by
Emma Woodward
Contributor, Personal Finance

Emma Woodward is a contributor for Bankrate and a freelance writer who loves writing to demystify personal finance topics. She has written for companies and publications like Finch, Toast, JBD Clothiers and The Financial Diet.

Edited by Editor, Insurance