Homeowners Insurance in Vermont
What comes to mind when you think of Vermont? For many, it may be the amazing outdoor activities and scenery. For others, it might be Ben & Jerry’s ice cream and the best maple syrup in the nation (sorry, New Hampshire). Even though Vermont has the second smallest population in the country, it still has a lot of interesting facts and fun things to offer its residents. And the latest addition to this list is modern homeowners insurance in Vermont, as Hippo has officially set up shop in The Green Mountain State.
How much is homeowners insurance in Vermont?
Homeowners insurance in Vermont costs an average of $1,032 a year. That's about the same cost as 206 pints of Vermont’s famous Ben & Jerry’s ice cream. Salivating yet? If you lived in another state, you’d be paying around $200 more (or have 40 more pints of ice cream) for your home’s protection as the U.S. home insurance premium average is about $1,200.
What factors influence my home insurance rate?
When you buy a home in Vermont, you should know that your actual home insurance premium may vary depending on your home’s location, age and current condition. Your claim history will affect this too, so if you have a long history of claims on your last home, your policy may cost more as insurance providers will view it as a bigger risk.
Vermont Home Insurance Premiums
What does Vermont home insurance cover?
A home insurance policy in Vermont will cover your home’s structure, contents, additional structures on your property and personal liability. So if you come home from vacation to find that someone broke into your garage and took your bike, your insurance will help cover the cost to replace it and fix any damage the thieves made to your home. But insurance does more than just have your back after a theft.
As a Vermont homeowner, you should know that the Green Mountain State is prone to severe weather. While your insurance policy will protect you from a lot, if you want coverage from specific disasters, you’ll need to add on an insurance rider. Insurance riders come in many forms, offering protection from new events or expanding sections of your current coverage. However, Vermonters should look into riders like flood insurance, fire insurance and extended replacement cost to be sufficiently covered.
Vermont Insurance Coverage Options
Traditional coverage
Physical Structure
Living Expenses
Liability Protection
Additional Structures
Personal Possessions
Supplemental coverage
Fire
Earthquake
Flood
How to lower your home insurance premium
Did you know that the word Vermont is French for “green mountain?” And no, it doesn’t refer to mountains of money. Vermont was named for its famous Green Mountain range that runs along its northern border.
Though if you’re interested in creating your own green mountain, there are things you can do to save on your home insurance premiums. Build that mountain by updating your roof, installing smart home devices, lowering your deductible and changing providers every few years.
Vermont home insurance resources
It's no surprise that a state ranking fourth for Pre-K through 12th-grade education has plenty of educational resources for its residents. Whether you want to learn more about protecting your home adequately or just need some confusing home insurance terms defined, the Vermont Department of Financial Regulation, the National Flood Insurance Program (NFIP) and Hippo are standing by to help.
National Flood Insurance Program
The NFIP is a program created by FEMA to help homeowners out with the high cost of damage from floodwaters. NFIP provides nationally regulated flood insurance, and homeowners can get this protection through their traditional provider. So what does flood insurance cover? It’ll protect your home’s structure, your belongings and additional living expenses while repairs are being made to your home (also known as loss of use coverage).
Though Vermont may not be home to any professional sports teams, its residents still have a lot of pride in their home state (and given John Deere and Ben & Jerry’s call VT home, it's not hard to see why). So next time you’re in the market for home insurance, give us a call and see what it's like to work with a company that gets it.
