Patience and persistence matter if you’re looking for cheap car insurance in Vermont. Prices can vary significantly among insurance companies, so it makes sense to compare as many as you can.
To make things simpler, NerdWallet collected rates from the eight largest auto insurers in Vermont and ranked the three cheapest options for these common driver types:
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Cheapest for good drivers
For drivers with no at-fault crashes, DUIs or moving violations.
You can find relatively affordable options in the Green Mountain State if you have a sparkling driving record. The average rate for good drivers in Vermont among the three cheapest companies was $777 per year — the seventh-cheapest such price nationwide, according to NerdWallet research. Co-Operative Insurance had the best deal overall at $698 per year or about $58 a month.
Cheapest for young drivers
For drivers in their early 20s.
Our sample young drivers carried less coverage than other groups. This is because those in their early 20s typically have less to lose financially if they’re sued than older motorists do. We looked at rates for young drivers with minimum legal coverage limits and found relatively cheap car insurance in Vermont.
Geico notched the lowest rate at just $337 per year, which translates to roughly $28 a month. A pair of regional insurers, Vermont Mutual and The Concord Group, rounded out the list of cheapest options for this group.
Cheapest for drivers with poor credit
For drivers placed in the “poor credit” tier.
Car insurers can use applicants’ credit-based insurance score to help predict their chances of filing claims in the future. Drivers with poor credit tend to face steeper rates than most other motorists as a result.
Co-Operative Insurance had the lowest price at $946 per year. That’s $248 more than the best deal for good drivers with no credit woes. The most expensive average quote we found was more than $2,600 a year, so those with poor credit still have plenty of reason to shop around.
Cheapest for retired drivers
For drivers in their mid- to late 60s who no longer use their cars for commuting.
Retirees can often bank easy savings on car insurance just by giving up the daily commute. Spending less time behind the wheel means fewer chances for accidents and generally leads to lower rates.
We looked at drivers in their 60s who travel half as many annual miles as other groups and found fairly cheap car insurance in Vermont. For example, the lowest average quote — $595 from Co-Operative Insurance — was $103 lower than the best deal we found for drivers half that age who commute.
Minimum car insurance requirements in Vermont
Vermont auto policies must include liability insurance and uninsured/underinsured motorist coverage with the following minimum limits:
- $25,000 bodily injury liability per person
- $50,000 bodily injury liability per crash
- $10,000 property damage liability per crash
- $50,000 uninsured/underinsured motorist bodily injury per person
- $100,000 uninsured/underinsured motorist bodily injury per crash
- $10,000 uninsured/underinsured motorist property damage per crash
It’s wise to consider buying more than the legal minimum, as those amounts may not be enough to fully cover car accidents. For instance, causing a crash could easily leave you owing more than $10,000 in property damage. You’d have to pay the remaining balance if that’s where your limit ends.
Check out NerdWallet’s guide to minimum car insurance requirements by state for more help planning your Vermont auto policy.
Alternative car insurance for high-risk drivers
Drivers with poor credit, DUIs or other red flags could have trouble getting auto coverage on the voluntary market. As an alternative, you can apply for coverage through the Vermont Automobile Insurance Plan.
For more help finding cheap car insurance in Vermont, try NerdWallet’s easy-to-use car insurance comparison tool.
Here’s a summary of where you’ll find the cheapest insurance, by category:
Cheapest car insurance in Vermont
|Good drivers||Co-Operative Insurance|
|Drivers with poor credit||Co-Operative Insurance|
|Retired drivers||Co-Operative Insurance|
- $100,000 bodily injury liability coverage per person
- $300,000 bodily injury liability coverage per crash
- $50,000 property damage liability coverage per crash
- $100,000 uninsured/underinsured motorist bodily injury coverage per person
- $300,000 uninsured/underinsured motorist bodily injury coverage per crash
- $10,000 uninsured/underinsured motorist property damage coverage per crash
- Collision coverage with $1,000 deductible
- Comprehensive coverage with $1,000 deductible
We used a 2013 Toyota Camry in all cases. Our sample retired driver was age 67 and drove 50% fewer annual miles than motorists in other groups. Our sample young driver was age 22 and carried the minimum required coverage levels. These are sample rates generated through Quadrant Information Services. Your own rates will be different.
Updated May 26, 2017.
Alex Glenn is a staff writer at NerdWallet, a personal finance website. Email: firstname.lastname@example.org.