Insurance Vermont: A Guide to Auto & Home Coverage
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Having the necessary auto and home insurance in Vermont helps protect your assets. Without insurance coverage, you risk losing your property or financial security if the worst happens. Plus, you may find yourself breaking state law.
Below, we’ll explore insurance in Vermont and explain the complexities of auto and home insurance so you can make informed choices about your coverage needs.
Understanding Vermont’s Auto Insurance Requirements
Vermont law requires you to have at least the state minimum auto insurance coverage on a vehicle to drive it on public roadways. The minimum coverage requirements in Vermont are:
- $25,000 in bodily injury liability coverage per person
- $50,000 in total bodily injury liability coverage per accident
- $10,000 in property damage liability coverage per accident
All auto insurance policies must also cover uninsured, underinsured, and unknown drivers. This covers you and your vehicle if you’re in an accident caused by someone with insufficient auto insurance coverage or are a hit-and-run victim. The policy must cover up to $10,000 in property damages, $50,000 in bodily injury coverage for one person, and $100,000 in bodily injury coverage for two or more people.
Optional Auto Insurance Coverage to Consider
The mandated insurance mentioned above is only the minimum requirement. You can opt for additional coverage for more protection. Key additional coverage you can get from nearly any Vermont insurance company:
- Collision coverage: This pays for damage to your vehicle resulting from a collision, regardless of fault. For example, if you cause an accident, your insurance company will pay to repair or replace your vehicle.
- Comprehensive coverage: This covers your vehicle if it’s damaged in a way other than a collision with another vehicle, such as a rock breaking your windshield or hitting an animal.
- Rental reimbursement: This helps pay for a rental car while your vehicle is being repaired due to a covered repair.
- Medical payment coverage: This covers your medical expenses due to an injury sustained in an auto accident.
While these coverages are optional in the state’s eyes, you may have to purchase at least comprehensive and collision coverage if you financed or leased your vehicle.
Review the insurance requirements of your state:
The Role of Home Insurance in Vermont
Homeowners insurance in Vermont protects against damage to your physical dwelling and protects you from liability due to an accident on your property. This coverage is particular important in Vermont due to its frigid winters and severe winter weather.
Vermont winters can lead to roof damage from the weight of the snow and ice or slip-and-fall injuries on your property, but home insurance can help protect your finances if any of these occur.
Preparing for Winter: Home and Auto Insurance Tips
Vermont experiences harsh winters, resulting in damages you may have to submit to your insurance for reimbursement. Fortunately, you can take specific actions to mitigate this potential and save you money.
For your home, you can:
- Have your roof inspected to ensure it can handle heavy snowfall
- Winterize plumbing to prevent freezing and bursting pipes
- Purchase snow- and ice-melting products to help prevent slip-and-fall accidents
Prepare your vehicle for the winter by:
- Equipping it with winter tires for better traction in snow and ice
- Replacing all-season windshield washer fluid with wintertime fluid to prevent freezing so you can keep your windshield clear
- Replacing worn-out windshield wipers to ensure you have a clear view ahead
Tips for Finding Affordable Insurance in Vermont
Finding a balance between cost and coverage is key to staying on budget and protecting your assets. The following tips can help you save on insurance premiums:
- Shop around: Getting quotes from multiple insurers can help you find the lowest price for the coverage you need.
- Bundle policies: Some insurance companies offer special discounts for bundling policies, such as insuring your home and car with the same company.
- Ask about discounts: Always ask your insurance carrier what discounts it offers. You may be surprised by some of the discounts insurance companies in Vermont offer.
- Consider higher deductibles: A higher deductible can help make an insurance policy more affordable. However, make sure you’ll be able to cover that deductible if needed.
Understanding Vermont’s Unique Insurance Regulations
Having a firm grasp of Vermont’s insurance laws helps you stay protected and within the bounds of the law. Key aspects of Vermont's insurance regulations include:
- Vermont is an at-fault state, meaning in any accident, the party who caused the accident is also responsible for paying to repair all damages and for any medical costs.
- Vermont has strict laws regarding minimum insurance coverage, and you are subject to up to a $500 fine and a license suspension for failure to carry adequate insurance.
- You must carry proof of insurance with you in the vehicle. Failure to show proof of insurance may result in up to a $100 fine, even if you show proof of coverage later.
Resources for Comparing Quotes and Learning More
You have many options to help you learn more about Vermont car insurance and to compare auto insurance quotes. Popular options include:
- State Insurance Department: You can find the latest rules and regulations regarding auto insurance in Vermont on the state’s Department of Financial Regulation website.
- Insurance comparison websites: These allow you to compare multiple policies and quotes to choose the best one for you.
- Local insurance agents: They have a wealth of knowledge about auto insurance and can answer any questions you have and help you secure cheap car insurance in Vermont.
Get Reliable Vermont Car Insurance Today
Securing Vermont car insurance is key to remaining within bounds of the state’s laws. EverQuote can help you by allowing you to compare multiple insurance quotes and choose the best option for you.