Who Has Cheap Auto Insurance for Teenagers in Vermont?
Enter your Vermont zip code below to view companies that have cheap auto insurance rates.
UPDATED: Nov 9, 2019
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The car, truck, or SUV that is being insured is one of the biggest factors when consumers are trying to find cheap auto insurance for teenagers in Vermont. Vehicles with limited top-end speed, advanced safety features, or low incidents of liability claims will cost quite a bit less to insure than fast, unsafe models.
The information below illustrates insurance prices for a handful of the more affordable automobiles to insure in Vermont.
|Vehicle Insured||Estimated Cost for Full Coverage|
|Ford Escape XLS 4WD||$1,560|
|Honda CR-V EX 2WD||$1,568|
|Volkswagen Jetta S 2.5 Station Wagon||$1,669|
|Chevrolet Traverse LTZ AWD||$1,693|
|Ford Explorer Eddie Bauer 2WD||$1,756|
|Toyota Highlander 2WD||$1,763|
|Dodge Grand Caravan SE||$1,756|
|Hyundai Tucson GLS 4WD||$1,761|
|Subaru Outback 2.5I||$1,770|
|Subaru Forester XT Limited Edition AWD||$1,792|
|Honda Odyssey EX||$1,837|
|Ford Fusion S 4-Dr Sedan||$1,851|
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Prices based on single female driver age 16, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Vermont minimum liability limits. Discounts applied include claim-free, and safe-driver. Rate quotes do not factor in the specific area where the vehicle is garaged which can decrease or increase coverage prices significantly.
Based upon the table data, we can conclude that cars like the Ford Escape, Honda CR-V, Volkswagen Jetta, Toyota Prius, and Chevrolet Traverse will definitely be the cheapest vehicles to insure for teen drivers. Prices will trend higher just due to the fact that there is more liability risk for teenagers, but generally speaking those particular vehicles will have the lowest prices compared to all other vehicles.
For Vermont drivers, one of the criteria that influence the amount you pay for auto insurance is where you keep your vehicle in Vermont. More populated areas like Northfield, West Brattleboro, and Springfield are more likely to pay higher prices, whereas areas that are not as densely populated have the luxury of lower rates.
The next table lists the highest-priced areas in Vermont for teenagers in which to buy car insurance.
|6||White River Junction||$1,006|
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Information shown are comparative as the specific zip code location can influence coverage rates noticeably.
Impact of speeding/accidents on car insurance rates
The best way to get cheap car insurance prices for teen drivers is to pay attention while driving and avoid accidents and traffic citations. The example below highlights how speeding tickets and at-fault collisions can drive up auto insurance costs for different age groups of insureds. The rate quotes are based on a single male driver, full physical damage coverage, $500 deductibles, and no discounts are factored in.
In the prior example, the average cost of car insurance in Vermont per year with no accidents and a clean driving record is $1,503. Receive two speeding tickets and the average cost hikes up to $1,983, an increase of $480 each year. Now include one accident along with the two speeding tickets and the 12-month cost of car insurance for teenagers increases to an average of $2,477. That’s an increase of $974, or $81 per month, just for a couple of infractions!
Does full coverage make sense?
Finding cheap auto insurance for teenagers in Vermont is the goal of the majority of people, and one of the easiest ways to buy cheap insurance is to only buy liability coverage. The example below shows the difference between insurance prices with full physical damage coverage compared to only buying the minimum liability limits required in Vermont. The data is based on no violations or accidents, $500 deductibles, drivers are not married, and no discounts are taken into consideration.
As an average for all age groups, physical damage insurance costs an extra $1,128 per year more than carrying just liability coverage. That amount may make you wonder if buying full coverage is a good investment. There is no exact formula for phasing out physical damage coverage on your policy, but there is a guideline you can consider. If the annual cost of comprehensive and collision coverage is about 10% or more of the settlement you would receive from your company, then you may want to consider only buying liability coverage.
For example, let’s say your vehicle’s replacement cost is $9,000 and you have $1,000 full coverage deductibles. If your vehicle is damaged in an accident, the most your company will settle for is $8,000 after paying your policy deductible. If you are paying in excess of $800 a year for full coverage, then you may want to consider only buying liability coverage.
State Farm, Allstate, Geico, or Progressive: Which is best?
When researching car insurance for teen drivers in Vermont, four of the best places to start are State Farm, Allstate, Geico, and Progressive. The table below compares some of the different features shoppers can find with each company.
|Handling of Claims||2nd||1st||3rd||4th|
|Percent of U.S. market||18.3%||10%||11.4%||8.8%|
|Percent of customers who recommend||88%||86%||87%||88%|
|Rating from A.M. Best||A++||A+||A++||A+|
|Uber and Lyft insurance||Yes||Yes||Yes||Yes|
|Accident forgiveness coverage||No||Yes||Yes||Yes|
|New car replacement coverage||No||Yes||No||No|
|Types of agents used||Only from State Farm agents||Can only buy from Allstate agents||Can buy online or use a Geico agent||Buy online or from an independent agent|
|Number of agents||18,000+||11,000+||150+||30,000+|
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Cheap insurance quotes for teen drivers
Thanks to the internet, there are a lot of ways to quote and buy car insurance in Vermont, but the most prevalent ways are from an exclusive insurance agency like Auto-Owners or State Farm, an independent or non-exclusive agent, or from a direct company like Geico or Progressive.
They all have the same end result, but they differ in how they function.
Independent agents have contracts with multiple insurance companies and can do rate comparisons with all of them. Independent agents can get prices from more than one company, which may give you the best chance of saving money. If your agent finds a cheaper company, the business is moved internally without you having to go to a different agency.
A captive or exclusive agent is only able to give prices for a single company, for example a Farmers or Allstate agent. Exclusive agencies are unable to give you multiple price quotes, so if rates are not competitive, they cannot shop around.
If you want to buy car insurance direct, you skip the middleman (the agent) and instead buy from a direct company like Esurance. Buying car insurance direct may be the best choice drivers who do not have a complex risk profile and know what coverages, limits, and deductibles they need.
Which way is best to find cheap auto insurance for teenagers in Vermont? Most people assume that buying from a direct company results in the cheapest price because there isn’t an agent involved, but in reality, that argument does not hold true. And we’d like to say buying car insurance from an independent agent is the best way to go due to increased selection, but again, that’s not a true statement. In some circumstances, exclusive agents have extremely competitive rates that are the lowest in Vermont.
Due to the large number of rating factors, the best method to ensure you are not overpaying is to get rate quotes and compare. If time allows, get rate quotes from independent agents, exclusive agents, and direct companies to have the best selection of rates to choose from. For a list of companies offering online discounts, click here to view.
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