Vermont Auto Insurance
Vermont has minimum auto insurance requirements that must be met by all drivers. These include at least $25,000 in bodily injury liability for accidents in which one person is injured, $50,000 in bodily injury liability for accidents in which more than one person is injured and at least $10,000 in property damage coverage. These requirements are average when compared to other states, but they only provide minimal protection in the event of an accident. Liability insurance only covers damage to other people and since Vermont is a tort state, you are required to pay for all damage and injuries incurred to the other driver if you are found to be at fault.
Obviously, these low amounts of coverage would not even come close to covering an extended hospital stay or paying for anything more than the most minor vehicular damages. As such, drivers are encouraged to take out at least $100,000 in liability coverage in addition to purchasing some form of collision and/or comprehensive coverage. Fortunately, adding additional auto coverage is very affordable with most providers, and you’ll definitely be glad you did so if an accident occurs for which you are responsible.
Average Cost of Auto Insurance in Vermont
Vermont is actually one of the cheapest states in which to insure your vehicle. According to a report published by Insure.com the average auto insurance rates in Vermont are only more expensive than Maine and over 30% less than the national average with Vermont drivers paying around $970 on average in annual premiums. This does not mean, however, that you should be lax about choosing an auto insurance company as many good drivers in Vermont pay much less by simply comparing auto insurance quotes from multiple providers.
Stolen and Vandalized Vehicles in Vermont
Much like other parts of the country, Vermont has a problem with stolen and/or vandalized vehicles and owners of high risk vehicles typically pay more in auto insurance premiums. Generally, sport utility vehicles (SUVs), sports cars, and any cars with a high value will cause increased insurance rates but even more common cars are widely known to be high risk for auto theft and/or vandalism. Some of the most stolen cars in Vermont include the Subaru Legacy, the Ford Taurus, the Ford Escort, the Honda Civic, the Jeep Cherokee, the Jeep Grand Cherokee, the Chevrolet Cavalier, the Ford Ranger, the Jeep Wrangler, the Ford F150 Series, and the Dodge Caravan.
If you own one of the vehicles mentioned above, then you might think there’s nothing you can do but put up with high insurance rates. However, this is not the case at all. In fact, there are several things that you can do to reduce your premium, even with one of these automobiles. First and foremost, you need to shop around and compare auto insurance quotes but you also want to make sure your vehicle is equipped with anti-theft devices such as a car alarm, steering wheel and ignition locks, coded door entries or similar device which reduces the risk of auto theft. Auto insurance companies provide many discounts and sometimes having these features can offset the higher risk associated with a car prone to theft.
Who are the Best Vermont Auto Insurance Companies?
This depends on your profile as every auto insurance company has a different way of evaluating risk and calculating premiums. Vermont has a large number of national auto insurance companies and regional ones which offer coverage so finding an auto insurance company should not be that difficult. The best rates are often found by drivers who spend time comparing quotes, learning how auto insurance works and searching for a provider who can offer the maximum number of discounts applicable to their profile. Even young drivers and high risk drivers often find affordable auto insurance after shopping around. Get started today and compare auto insurance companies by entering your Zip code above.
