How Much is Car Insurance for College Graduates in Vermont?

It’s hard to miss the commercials from companies like State Farm and GEICO that promise the cheapest price, so you should just pick the company with the cutest commercial, right?

It’s not that simple, unfortunately, as there are a lot of unknown factors like the number of years of driving experience you have, if you have a lapse in coverage, and what your desired deductibles are. We are going to cover the best ways to find cheap auto insurance and will give you a solid foundation to find cheaper car insurance in Vermont.

The cost and performance of the vehicle to be insured is one of the largest considerations when looking for economical coverage for college graduates. Vehicles with high performance features, a lack of modern safety features, or high incidents of liability claims will cost more to insure than safer models. The lists below illustrates auto insurance rates for a selection of the most economical vehicles to insure.

Prices based on single female driver age 40, no speeding tickets, no at-fault accidents, $1000 deductibles, and Vermont minimum liability limits. Discounts applied include multi-policy, safe-driver, multi-vehicle, claim-free, and homeowner. Rates do not factor in zip code location which can increase or decrease coverage prices considerably.

Above prices assume single female driver age 40, no speeding tickets, no at-fault accidents, $1000 deductibles, and Vermont minimum liability limits. Discounts applied include multi-vehicle, safe-driver, claim-free, multi-policy, and homeowner. Price information does not factor in the specific area where the vehicle is garaged which can modify prices substantially.

Price data assumes single female driver age 40, no speeding tickets, no at-fault accidents, $1000 deductibles, and Vermont minimum liability limits. Discounts applied include claim-free, multi-policy, safe-driver, homeowner, and multi-vehicle. Rate information does not factor in specific garaging location which can modify coverage rates considerably.

When buying auto insurance for college grads, one of the key components that is used by auto insurance companies to determine the price of your policy is where you keep your vehicle. Cities with larger populations or higher claims like West Brattleboro, Springfield, and Northfield tend to pay more, whereas areas that are not as densely populated profit from lower rates.

The illustration below illustrates the highest-priced areas in Vermont for college graduates to buy auto insurance in.

Premium amounts are approximated as specific location information can decrease or increase rates substantially.

Bad driving habits will cost you more

The easiest way to find the cheapest car insurance premiums in Vermont for college grads is to be an attentive driver and avoid getting tickets or having accidents. The diagram below illustrates how traffic citations and fender-benders raise annual premium costs for each age group. The premiums are based on a single male driver, comprehensive and collision coverage, $100 deductibles, and no discounts are applied to the premium.

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In the prior example, the average cost of car insurance in Vermont per year with no accidents and a clean driving record is $1,833. Receive two speeding tickets and the average cost increases to $2,431, an increase of $598 each year. Now throw in one accident along with the two speeding tickets and the yearly cost of car insurance for college graduates increases to an average of $3,045. That’s an increase of $1,212, or $101 per month, just for being a careless driver!

Who has the cheapest insurance quotes for college grads?

Thanks to technology, there are a lot of ways to find lower-cost car insurance in Vermont, but the most common ways are through an independent or non-exclusive agent, an exclusive insurance agency such as Allstate or Auto-Owners, or from a direct company like Geico or Progressive. Each way has the same basic steps, but it’s important to point out the distinctions in how they price policies.

Independent agents are appointed by several companies and can get rate quotes from each one. They are not employed by one specific company and can compare multiple rates, which can give you a better chance of finding cheaper coverage. If prices rise, you can get a different policy which prevents you from having to find a new agency.

A captive or exclusive agent is only able to give rates for a single company such as State Farm and Allstate agents. This type of agents cannot provide prices from multiple companies, so you will not be able to compare multiple prices.

Consumers who buy car insurance direct forego local agents and buy from a direct company like Geico or Progressive. This car insurance option can be a good choice for consumers who do not need advice for risk management and have a good understanding of what coverages, limits, and deductibles they need.

Which way works best to find cheap car insurance for college graduates in Vermont? We would first guess that shopping direct results in the cheapest price because you bypass the agent, but that generally is not the case. It could also be said buying car insurance from an independent agent results in the cheapest rates due to having more companies to select from, but again, it’s not necessarily true. And sometimes, the exclusive agents have coverage prices that are the cheapest in Vermont.

Due to the fact that car insurance rates vary so much, the only true way to ensure you are not overpaying is to obtain price quotes and compare them. It’s recommended that drivers get rate quotes from independent agents, exclusive agents, and direct companies to have the best rate selection. For a list of companies with some of the cheapest Vermont car insurance rates, click here to view.

Ideas to find budget-friendly auto insurance for college graduates

The list below details many penny-pinching solutions that can help you quote cheaper car insurance.

• Clean up your credit rating
• Safe vehicles generally have lower rates
• Avoid filing small claims
• Increase your physical damage deductibles
• Do not pay for comprehensive and collision coverage on older vehicles
• Save money by insuring your home and auto with the same company
• Compare price quotes at least once a year

That last piece of advice is notably critical, as we pointed out in this piece. Car insurance prices can change considerably in a year, so don’t be afraid to switch to a new company if you can find a cheaper rate.

Brand loyalty is great, but it’s not recommended if that loyalty ends up costing hundreds every year. In just a couple of minutes you could compare rates and find cheaper insurance for college graduates.