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Vermont Auto Insurance
Vermont operates under tort auto insurance laws. This means that all drivers must carry Vermont auto insurance liability coverage to pay for at-fault accident costs, including personal injury and property damages. Vermont auto insurance also requires minimums for uninsured and underinsured motorist protection.
Vermont Coverage Minimums
Vermont auto insurance has liability minimums set at 25/50/10. When a driver causes an accident, this liability coverage would pay out $25,000 per person injured, $50,000 for all who are injured, and $10,000 for any property damages.
The uninsured motorist protection coverage is higher at 50/100/10. When a driver without proper insurance causes an accident, this coverage pays out after the liability minimums are reached. The uninsured motorist bodily injury protection would pay $50,000 per person injured, $100,000 for all bodily injuries, and the uninsured motorist property damage coverage would pay $10,000 for any property damages.
Vermont insurers also offer collision and comprehensive coverage, which is optional coverage unless you finance your car or are in a lease.
Vermont Auto Insurance Premiums
Vermont auto insurance rates are set by each individual company. Each company calculates their cost to do business in the state, including all legal fees, settlement costs, and other statewide expenditures.
Then they divide up that cost by creating categories of risk for drivers. To place a driver in a category, they look at age, sex, marital status, location, and driving record, among other factors. All of these variables are combined into complex formulas to determine the final rate that an individual driver will pay.
Vermont ranked 35th in the country for auto insurance expenses in a survey conducted recently. The average annual expense was $683.07 for Vermont motorists. Vermont drivers spent on average $360.94 for liability coverage, $294.58 for collision coverage, and $130.48 for comprehensive coverage. Additionally, rates are on the rise in Vermont, with an increase of nearly 25% over the past five years.
Vermont Auto Insurance Providers
Auto insurance rates in Vermont differ from company to company. It is always good to shop around before buying your car insurance coverage.
Official Resources for the State of Vermont
For more information on Vermont auto insurance, to get official company ratings, or to file a complaint, contact the Vermont Division of Insurance.
Vermont Division of Insurance
89 Main St. Drawer 20
Montpelier, VT 05620-3101
Phone: (802) 828-3301
For other Vermont Insurance Resources, See:
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