How Much are Auto Insurance Quotes for Drivers Under 21 in Vermont?

When buying insurance for minors, one of the key things that insurance companies use to determine the amount you pay for auto insurance is where your car is garaged in Vermont. Regions with larger populations or more claims like Northfield, Bellows Falls, and Fair Haven tend to pay more, whereas areas with lower crime rates and fewer weather claims generally benefit from lower insurance rates.

The illustration below shows the most expensive cities in Vermont for drivers under 21 to purchase a policy in.

Rate quotes are comparative as the vehicle garaging location can lower or raise insurance rates considerably.

Shopping around for affordable insurance is easier said than done, and figuring out which companies quote the lowest-priced auto insurance rates for drivers under 21 will involve even more perseverance. Policy rates may be quite a bit more than the state average because of the added risk associated with offering coverage for minors, but competitively-priced insurance should be obtainable with a little diligence. Each auto insurer uses their own calculation for setting prices, so let’s begin by taking a look at the most budget-friendly auto insurance companies in Vermont.

We do need to point out that Vermont auto insurance rates are determined by lots of factors which can significantly increase or decrease the cost of a policy. This price fluctuation is why it is critical to compare many different companies when trying to find the most affordable car insurance rates for drivers under 21. Insurance prices are calculated by many things and can decrease or increase without notice, so the cheapest company the last time you shopped around may now be one of the more expensive options.

Best Car Insurance Prices for Minors

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Safeco generally has some of the most affordable car insurance rates in Vermont at around $477 each year. California Casualty, The Hartford, USAA, and Unitrin also make the cut as some of the more affordable Vermont car insurance companies.

As depicted above, if you currently have a policy with Unitrin and switched to California Casualty, you may see an annual premium reduction of about $191. Policyholders with Travelers may save as much as $196 a year, and Co-Operative Insurance policyholders might lower prices by $248 a year.

Understand that those prices are averaged for all drivers and vehicles in Vermont and and are not calculated with a rate increase for drivers under 21. So the insurer that is best suited for you may not even be shown in the above list. That affirms the importance of why you need to quote rates from as many companies as possible using your own individual information.

The car, truck, or SUV you are buying coverage for is one of the largest factors that determines the availablility of cheap coverage for drivers under 21. Vehicles with high performance engines, poor passenger safety features, or a track record of large liability claims will cost quite a bit more to insure than safer, lower-performance models.

The data below illustrates coverage costs for some of the most cost-effective vehicles to buy insurance for.

Premium data assumes single male driver age 19, no speeding tickets, no at-fault accidents, $1000 deductibles, and Vermont minimum liability limits. Discounts applied include safe-driver, and claim-free. Information does not factor in vehicle location which can revise price quotes significantly.

Prices based on single male driver age 19, no speeding tickets, no at-fault accidents, $1000 deductibles, and Vermont minimum liability limits. Discounts applied include claim-free, and safe-driver. Table data does not factor in the specific area where the vehicle is garaged which can modify coverage prices noticeably.

Prices based on single male driver age 19, no speeding tickets, no at-fault accidents, $1000 deductibles, and Vermont minimum liability limits. Discounts applied include safe-driver, and claim-free. Price estimates do not factor in specific garaging location which can influence insurance rates considerably.

How to get discounts on Vermont auto insurance

Insurers that sell cheap auto insurance for drivers under 21 in Vermont may additionally offer discounts that could potentially reduce rates by 30% or more if you are eligible. A list of auto insurance companies and a selection of discounts include:

• Farmers Insurance has savings for switch companies, electronic funds transfer, business and professional, teen driver, early shopping, bundle discounts, and homeowner.
• State Farm may have discounts that include anti-theft, good driver, defensive driving training, good student, safe vehicle, student away at school, and Steer Clear safe driver discount.
• Liberty Mutual may include discounts for preferred payment discount, new vehicle discount, good student, newly married, and exclusive group savings.
• MetLife offers premium reductions for defensive driver, good driver, good student, accident-free, multi-policy, and claim-free.
• Progressive policyholders can earn discounts including good student, homeowner, multi-policy, online signing, continuous coverage, and multi-vehicle.

The information below illustrates the comparison of insurance costs with and without discounts applied to the premium. The price estimates are based on a male driver, a clean driving record, no at-fault accidents, Vermont state minimum liability limits, full coverage, and $100 deductibles. The first bar for each age group shows the price with no discounts. The second bar shows the rates with anti-theft, vehicle safety, homeowner, safe-driver, accident-free, and passive restraint discounts applied. When discounts are applied, the average amount saved each year on auto insurance for drivers under 21 is 28% or $453.

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Cost of full coverage

Finding cheap auto insurance for drivers under 21 in Vermont is important to the majority of vehicle owners, and one good way to find cheap insurance is to only pay for liability coverage. The illustration below compares car insurance rates with full coverage and liability only. The rate quotes are based on no violations or accidents, $500 deductibles, single status, and no discounts are applied to the premium.

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Averaged for all age groups, physical damage coverage on your policy costs $1,128 per year more than just buying liability only. That touches on the question if physical damage coverage is worth the money. There is no clear-cut formula to exclude physical damage coverage, but there is a broad guideline. If the annual cost of having full coverage is more than around 10% of replacement cost minus your deductible, then it’s probably a good time to buy liability coverage only.

For example, let’s say your vehicle’s replacement value is $7,000 and you have $1,000 policy deductibles. If your vehicle is totaled, the most you would receive is $6,000 after paying the physical damage deductible. If it’s costing you more than $600 annually for your policy with full coverage, then it might be time to consider dropping full coverage.

There are some scenarios where dropping physical damage coverage is not in your best interest. If you haven’t satisfied your loan, you have to keep full coverage as part of the loan conditions. Also, if you can’t afford to buy a different vehicle if your current one is damaged, you should not consider dropping full coverage.

Cheapest car insurance: State Farm, Progressive, Geico, or Allstate

When shopping around for auto insurance for minors in Vermont, probably the best companies to start with are State Farm, Progressive, Geico, and Allstate. Between them, they insure about 50% of the car insurance market in the United States. The following table breaks down price, claims, and customer service ratings, as well as some optional coverages offered by each one.