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What is the state requirement for auto insurance in Vermont?
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Here's what you need to know concerning the minimum car insurance requirements in Vermont.
Most people choose to meet Vermont's financial responsibility law by purchasing an auto insurance policy, but you don't have to go this route. Instead, you can satisfy the requirement by purchasing a surety bond or by using self-insuring. Contact the DMV for details at (802) 828-2050.
And, you will have done enough from a legal standpoint, but purchasing only that amount of minimal protection can leave vulnerable to a financial disaster if you're involved in a serious car accident. That's especially true if it's one involving bodily injuries.
Of course, buying additional coverage means higher premiums, which can be difficult to afford. But, you can limit this expense by comparing insurance quotes from several providers and locating the best possible rates for your situation.
And, you can further reduce your costs by agreeing to higher deductibles. While this may lead to more initial out-of-pocket expenses, having the more extensive liability coverage can save you a fortune later.
VT Auto Insurance Standards
- Bodily injury liability: $25,000 per person, up to $50,000 per accident.
- Property damage liability: $10,000.
- Uninsured motorist bodily injury: $50,000 per person, up to $100,000 per accident.
Important Note
Most people choose to meet Vermont's financial responsibility law by purchasing an auto insurance policy, but you don't have to go this route. Instead, you can satisfy the requirement by purchasing a surety bond or by using self-insuring. Contact the DMV for details at (802) 828-2050.
Why Buy More Than the Required Auto Insurance?
Since car insurance can be expensive, it may be tempting to simply meet the state's minimum liability insurance requirements and think you've done enough.And, you will have done enough from a legal standpoint, but purchasing only that amount of minimal protection can leave vulnerable to a financial disaster if you're involved in a serious car accident. That's especially true if it's one involving bodily injuries.
Of course, buying additional coverage means higher premiums, which can be difficult to afford. But, you can limit this expense by comparing insurance quotes from several providers and locating the best possible rates for your situation.
And, you can further reduce your costs by agreeing to higher deductibles. While this may lead to more initial out-of-pocket expenses, having the more extensive liability coverage can save you a fortune later.
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