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Vermont Home Insurance
Vermont home insurance provides the necessary property damage coverage for your home. If you have a mortgage on your home, then your lender will likely require that you carry Vermont home insurance for the duration of the loan. For this reason, it’s good to know your options. The more basic policy, called the HO-2 policy, covers damages caused by fire, smoke, vehicles, aircraft, water overflow from water heaters and air conditioners, theft, vandalism, explosions, and riots. The broad HO-3 policy offers bodily injury liability for your property, and additional property damage coverage.
Vermont Home Insurance Coverage
Vermont experiences some varied weather throughout the year. Homeowners file claims for heavy snow damages, ice damage, hail and thunderstorm damage, and much more. The cost of Vermont home insurance can vary from county to county, and is dependent on a number of factors. If you live next to a stream, river, or lake, you may consider purchasing additional flood insurance, as Vermont home insurance does not cover damage caused by flood water.
Vermont Home Insurance Rates
The average cost of Vermont home insurance was below the national average in 2003. Homeowners insurance cost an average $552 for the year. This was an increase of 22.4% from 2001 to 2003. The rates usually increase due to an increase in cost to business in the state for the insurance company.
In order to decrease your premium, many homeowners have installed storm shutters, reinforced their roofs, and used higher grade shingles. Insurance companies typically give discounts for these improvements. Insurance companies also offer discounts when you purchase more than one policy through them. Of course, it is always good practice to shop around before buying your Vermont home insurance.
Vermont Department of Insurance
89 Main St. Drawer 20
Montpelier, VT 05620-3101
For other Vermont Insurance Resources, See:
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