Vermont Car Insurance: Quick Guidelines to Finding Car Insurance

Shopping for car insurance rates can be a challenging proposition. Every state has their own set of requirements for their residents when it comes to being able to travel down the road, and all consumers should take the time to find out their state’s car insurance minimums prior to shopping for insurance. Full disclosure regarding insurance policies in VT may be found on the website of the Vermont Department of Banking, Insurance, Securities and Health Care Administration (http://www.bishca.state.vt.us) or by contacting their Montpelier office at 802-828-3301.

Vermont requires its residents to carry liability insurance. Liability insurance will pay for any damages suffered by the party not responsible for the accident, freeing the insured from what could amount to thousands of dollars in bills. In Vermont the minimum levels required for coverage are twenty five thousand dollars for the medical expenses of a single occupant, fifty thousand dollars for the combined expenses of all of the occupants of a car and ten thousand dollars to cover any property damages resulting from the accidents, including those suffered by the victim’s vehicle.

It is recommended that all drivers carry a liability policy exceeding the minimum limits. It is also recommended for VT drivers to carry collision and comprehensive coverage on their vehicle. Liability will leave the driver responsible for the accident solely responsible for any necessary repairs to their vehicle. Comprehensive coverage will help pay for these repairs and return to the driver the full cash value of their car in the event that the vehicle must be declared totaled, and is often required for cars under lien.

Vermont is one of the few states to require its residents to purchase uninsured/underinsured motorist coverage on their policies. Because not all states require their drivers to carry a liability policy there is always the chance that a driver will be involved in an accident for which they are not responsible but whose responsible party either does not possess insurance or whose insurance is not sufficient to cover the damages resulting from the accident. In these events, and in the case of a hit and run, the non-responsible party is left holding the bag for their vehicle repairs unless they could press a lawsuit against the responsible party to recoup their losses.