- Vermont government car insurance for low-income drivers
- Vermont minimum car insurance requirements
- Best low income car insurance in Vermont
- Cheap car insurance in Vermont for low-income individuals
- Car insurance discounts in Vermont for low-income drivers
- Methodology
- Low-income car insurance in Vermont: Frequently asked questions
- Compare low-income car insurance rates in Vermont with other states
Vermont government car insurance for low-income drivers
There is no government-run car insurance program for low-income drivers in Vermont. Only a handful of states (California, Hawaii and New Jersey) have such a program.
In Vermont, low-income drivers must still carry the minimum amount of car insurance. The best way to find it on a budget is to shop around.
Vermont minimum car insurance requirements
The minimum car insurance requirements in Vermont are as follows:
Minimum liability coverage limits | Average annual premium | Other types of insurance required (if any) |
---|---|---|
25/50/10 | $306 | UIMBI, UMBI and UMPD |
Remember that if you have a loan on your car, you’re required to carry full coverage, which includes collision and comprehensive.
Best low income car insurance in Vermont
Auto-Owners came out on top as the best pick for low-income car insurance.
People on a tight budget still deserve great service from their car insurance company. We gathered the data on the top car insurance companies in Vermont and compared them on rates for state-minimum coverage, financial stability and customer satisfaction based on J.D. Power and National Association of Insurance Commissioners (NAIC) scores.
These are the best low-income car insurance companies in Vermont.
Company | Average annual premium | J.D. Power | AM Best | NAIC | Insurance.com score |
---|---|---|---|---|---|
Auto-Owners | $232 | 840 | A++ | 0.5 | 3.92 |
State Farm | $264 | 829 | A++ | 0.7 | 3.36 |
Allstate | $234 | 816 | A+ | 0.65 | 3.3 |
Geico | $286 | 836 | A++ | 0.91 | 3.06 |
Progressive | $344 | 802 | A+ | 0.65 | 2.88 |
Nationwide | $382 | 810 | A+ | 0.64 | 2.73 |
Farmers | $466 | 821 | A | 0.8 | 2.23 |
Cheap car insurance in Vermont for low-income individuals
Based on state-minimum coverage, we found that the cheapest car insurance company in Vermont is Auto-Owners at an average rate of $232 a year.
When you’re working with a tight budget, price is the number one consideration. We gathered rates from car insurance companies in Vermont to find the cheapest options on average.
Company name | Average annual premium | Average monthly premium |
---|---|---|
Auto-Owners | $232 | $19 |
Allstate | $234 | $19 |
State Farm | $264 | $22 |
Geico | $286 | $24 |
Vermont Mutual | $301 | $25 |
Progressive | $344 | $29 |
Nationwide | $382 | $32 |
Co-operative Insurance Companies | $383 | $32 |
Farmers | $466 | $39 |
USAA | $168 | $14 |
Car insurance discounts in Vermont for low-income drivers
Discounts are the best way to bring down your car insurance rates. There are a number of discounts low-income drivers in Vermont can take advantage of for cheaper insurance. Take a look at some common discounts and how much you can save below.
Discount type | % Discount |
---|---|
Years Licensed | 22% |
Days Per Week Driven | 13% |
Primary Use | 12% |
Days Advanced Purchase | 12% |
Years Insured | 11% |
Multi Policy | 11% |
Daily Commute | 11% |
Telematics | 10% |
Profession | 10% |
Education | 10% |
Loyalty - Years Renewal With Company | 9% |
Marital Status | 9% |
Payment Type | 8% |
Homeowner | 5% |
Lower Annual Mileage | 4% |
Electronic Funds Transfer | 4% |
Safety Devices | 3% |
Paperless/Electornic Documents | 2% |
Anti-Theft Device | 2% |
Methodology
Insurance.com commissioned car insurance rates from Quadrant Data Services in late 2023 for state minimum car insurance policies across all states. Rates are based on a 40-year-old driver with a clean driving record and good credit, driving a Honda Accord LX. We compared rates from 170 companies across 35,488 ZIP codes.
Low-income car insurance in Vermont: Frequently asked questions
What is the cheapest car insurance company for low-income people?
In Vermont, the cheapest car insurance company is Auto-Owners. However, that’s based on average rates and may differ for you, so it’s important to shop around.
Does Vermont have car insurance for low-income individuals?
No, Vermont doesn’t offer a car insurance program for low-income individuals or families.
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