When you want to drive in the State of Vermont, an auto insurance policy is a legal requirement, which means you technically can’t operate a motor vehicle unless you have the mandated coverage.
You should invest in Vermont car insurance coverage not just because you want to avoid the penalties law enforcement officers will charge you (when caught driving without proof of coverage) but also because you should take responsibility for any accident you cause.
Average cost of car insurance in Vermont
The National Association of Insurance Commissioners (NAIC) claim that the average person pays roughly $655.66 for car insurance in Vermont each year.
They broke this figure down to:
$343.85 is the average annual liability insurance expenditure.
$272.27 is the average annual collision insurance expenditure.
$118.70 is the average annual comprehensive insurance expenditure.
Young Drivers in Vermont
Our case study’s results indicate that a young driver can have yearly auto insurance premiums with an average of:
- $810.8 for state minimum coverage1,
- $1806.4 for basic full coverage2 and
- $2509.6 for premium full coverage3.
Always keep in mind that insurers put utmost importance in statistics when calculating an individual’s premiums. They take a close look at a specific type of driver’s likelihood of being involved in a road incident and getting traffic citations. Because historically, new and teen drivers have shown to contribute largely to these accidents, they fall under the high-risk category, which results in them paying the highest premiums.
Female Drivers in Vermont
A female driver in the Green Mountain State can expect to have a yearly premium average of:
- $400 for state minimum coverage,
- $789.2 for basic full coverage and
- $1070.4 for premium full coverage.
Since women can get auto insurance at wallet-friendly rates, many of them won’t have trouble fitting an insurance coverage upgrade into their budget. It is always a good idea to have a more extensive policy, as it includes more named perils, thus; providing greater protection.
Senior Drivers in Vermont
Typically, once a person becomes part of the older adult age bracket, his/her premiums also go up. However, this isn’t necessarily the case in VT. A senior driver can pay even less than a female driver. Our case study backs this up, as we found that a 68-year old male motorist with more than 40 decades of driving experience can pay a yearly average of:
- $371.2 for state minimum coverage,
- $709.6 for basic full coverage and
- $997.2 for premium full coverage.
Our methodology4 suggests that the more experienced a driver is, the greater his/her chances of getting really good premiums are.
Minimum car insurance requirements
Vermont laws don’t just protect you as the insured individual; it also does the same thing to people you might accidentally hurt or have the possessions of damaged. This is why all policies in the state should comprise of both liability insurance and uninsured/underinsured motorists insurance coverages.
The purpose of the liability coverage is to help you cover costs associated with injuries and damages to property you cause others through a road traffic accident. Complying with the laws of the state mean that you should carry and maintain the following bodily injury coverages: minimum of $25,000/person for bodily injury or death, minimum of $50,000/accident for total bodily injury or death (for accidents with more than just one victim), and minimum of $10,000/accident for property damage.
The next part of your policy should comprise of the state-required minimums so that you remain in compliance with the law. This also ensures you can receive assistance from your insurer if you (or one or more of your passengers) get hurt after an accident with a driver who either doesn’t have insurance or lacking in it. The mandatory coverage minimums are as follow: $50,000/person for bodily injuries and $100,000 for total bodily injuries/deaths (for cases wherein there is more than one victim).
Although having the two coverage types discussed above already makes you a law abiding citizen, you should still explore your other options. There are several optional coverages that will make your policy more extensive, including collision coverage, comprehensive coverage, medical payments coverage, towing and labor coverage, as well as rental car coverage.
Violations and Penalties
Comparing Vermont’s penalties for motor vehicle insurance violations with those of the other states in the nation, VT may have less rigorous ones. However, this doesn’t mean you should become part of the statistics of motorists who don’t follow the law and drive without the state-mandated insurance coverage.
Get caught and you will have to pay a fine of anywhere from $250 to $500. The authorities will also suspend your license until such time you can provide them with proof that you already purchased the required coverage minimums.
Driving safety in Vermont
In Vermont, only 84% of drivers and front-seat passengers use their seatbelts, according to the Centers for Disease Control and Prevention (CDC). This is 2% lower than the 86% national average..
The National Highway Safety Administration published the results of its 2015 assessment of driving fatalities in the state. There were 57 deaths, 27% of which were caused by alcohol impaired motorists.
The CDC rates the total vehicle occupant death in VT at 8.4 per 100,000 residents.
Because anyone can get involved in road traffic accidents, it pays to have the proper Vermont car insurance coverage so that you don’t have to worry about high out-of-pocket expenses. Learn more about car insurance by reading this article.
|1||State minimum coverage includes the minimum liability insurance limits required in your state but excludes the following:
|2||Basic full coverage includes:
|3||Premium full coverage includes:
|4||Methodology: To achieve accurate results we obtained estimates for 10 cities in the state: 5 of the largest cities and 5 randomly picked smaller cities. For each city, we collected premiums for 3 levels of coverage: state minimum coverage, basic full coverage and premium full coverage. We used 3 different driver profiles for the case studies. For the young driver profile we used a 20-year-old single male or female with 1 year driving experience. Second, the profile fit that of a 35-year-old married female with 12 years of driving experience. The last profile we used in our studies is a male senior driver who was 68-year-old with 45 years of driving experience. The vehicle we used for all three driver profiles was a 2012 Honda Accord EX.|