In large part, getting cheap Vermont car insurance comes down to patience and persistence. Prices can rise and fall by several thousand dollars per year depending on the insurer you choose, so the best way to find low rates and weed out the wallet-gougers is to compare as many estimates as you can.
To make things simpler, NerdWallet has done much of the heavy lifting. We tested rates from the seven largest auto insurers in Vermont and ranked the three cheapest options for these common driver types:
Drivers with one at-fault crash
Also in this article
Minimum car insurance requirements in Vermont
Alternative car insurance for high-risk drivers
Cheapest for good drivers
For drivers with no at-fault crashes, DUIs or moving violations; range of average prices from the seven largest insurers: $650 to $3,360 per year.
Price
- $650/year
Price
- $764/year
Price
- $1,067/year
The average rate for good drivers in Vermont among the three cheapest companies was $827 per year — slightly below the national average, per the Insurance Information Institute.
Both Geico and Co-Operative Insurance would make very affordable, albeit distinct, auto insurance options. Co-Operative Insurance offers coverage through local agents in Vermont and New Hampshire only, while Geico operates in all 50 states and allows customers to buy car insurance directly online or through an agent.
Cheapest for young drivers
For drivers in their early 20s; range of average prices from the seven largest insurers: $363 to $2,049 per year.
Price
- $363/year
Price
- $505/year
Price
- $576/year
Our sample young drivers carried less coverage than other groups, since drivers in their early 20s typically have less to lose financially than do older motorists.
Geico notched the lowest rate in our test at just $363 per year, which translates to roughly $30 a month. A pair of regional insurers — The Concord Group and Co-Operative Insurance — rounded out the three cheapest options, although their prices were a good deal higher than Geico’s.
Cheapest for drivers with one at-fault crash
Range of average prices from the seven largest insurers: $1,168 to $4,032 per year.
Price
- $1,168/year
Price
- $1,391/year
Price
- $1,533/year
Accident history is a major factor when it comes to determining car insurance rates. Case in point: The lowest quote we found for drivers with an at-fault crash — $1,168 from The Concord Group — was $518 higher than the cheapest rate for motorists of the same age with no accidents.
Drivers with blemishes on record still have plenty of reason to shop around, though. There was nearly a $3,000 price difference between the lowest and highest quotes for this group, which shows how much customers risk losing by settling for the first estimate they get.
Cheapest for drivers with poor credit
For drivers placed in a “Poor Credit” tier using NerdWallet’s car insurance rates tool; range of average prices from the seven largest insurers: $879 to $3,145 per year.
Price
- $879/year
Price
- $1,085/year
Price
- $1,087/year
Car insurers often use applicants’ credit-based insurance score to help determine their chances of having crashes and claims down the road. As a result, drivers with poor credit tend to face steeper rates than do many other motorists.
Co-Operative Insurance fetched the lowest price in our analysis at $879 per year, or about $73 a month. This was $229 a year more than the cheapest available quote for our sample good drivers, who had no credit issues. Geico and Nationwide were the next lowest options, respectively.
Cheapest for retired drivers
For drivers in their mid-to-late 60s who no longer use their car for commuting; range of average prices from the seven largest insurers: $624 to $2,484 per year.
Price
- $624/year
Price
- $652/year
Price
- $980/year
Retirees can often bank easy savings on car insurance just by giving up their daily commute. Spending less time behind the wheel means fewer chances for accidents and (generally) lower rates.
We tested for older drivers who traveled half as many annual miles as the other groups, and found fairly low average quotes. Geico had the cheapest price for retirees at $624 per year, slightly less than the company’s estimate for 30-year-old good drivers. Co-Operative Insurance was next at $652 a year, and Nationwide placed third at $980.
Minimum car insurance requirements in Vermont
Vermont drivers must carry 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
If you have an at-fault crash, liability insurance pays for others’ injury treatment and property damage repairs. Because the minimum limits may not be enough to fully cover these costs, consider selecting higher amounts to ensure you don’t have to pay for liability damages out of your own pocket.
Uninsured/underinsured motorist coverage kicks in to pay for treatment of your injuries (or those of your passengers) and vehicle repairs if you’re hit by a driver who doesn’t have auto insurance, or who has some but not enough to cover your post-accident bills.
Check out NerdWallet’s guide to minimum car insurance requirements by state for more help choosing your limits as well as common optional coverages, such as collision and comprehensive.
Alternative car insurance for high-risk drivers
Drivers with poor credit, a checkered accident history, DUIs or other insurance red flags could have trouble getting approved for auto coverage. As an alternative option, those who’ve tried and failed to buy a policy on the voluntary market within the last 60 days can apply for coverage through the Vermont Automobile Insurance Plan.
For more help finding cheap Vermont car insurance rates, try NerdWallet’s easy-to-use comparison tool.
Alex Glenn is a staff writer at NerdWallet, a personal finance site. Email: aglenn@nerdwallet.com.
This article was updated June 23, 2016. It was originally published in May 2014.
METHODOLOGY
For most categories, NerdWallet averaged rates from the largest insurers for 30-year-old men and women in 10 ZIP codes and with 100/300/50 liability insurance limits, 100/300 uninsured/underinsured motorist bodily injury coverage, $10,000 uninsured/underinsured motorist property damage coverage, and collision and comprehensive with a $1,000 deductible. We used a 2012 Toyota Camry in all cases.
Our sample retired driver was age 67 and drove 5,000 annual miles; all other groups drove 10,000 annual miles. Our sample young driver was age 22 and carried the minimum required coverage. These are sample rates generated through Quadrant Information Services. Your own rates will be different.
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