Renters insurance costs just a few dollars per month, but it can save you thousands if your home is affected by a peril. We evaluated the top renters insurance companies in Vermont to find the best choice for renters.
Compare Renters Insurance Quotes from Providers in Vermont
The average cost of renters insurance in Vermont is $14 per month, or $168 per year.
The lowest price for coverage in Vermont is $10 per month. Read on for all our picks.
Affordability: Finding cheap renters insurance in Vermont
The average price of renters insurance in Vermont is $14 per month, but some companies are cheaper than others. State Farm had the lowest price we found, at just $10 per month. That's 29% cheaper than the average rate overall, and less than half the price of the most expensive option, Nationwide.
Compare Renters Insurance Quotes from Providers in Vermont
% difference from average
Our selected levels of coverage were:
- Personal property coverage: $30,000
- Liability coverage: $100,000
- Medical payments coverage: $1,000
- Deductible: $500
- Loss of use: $0
Best renters insurance for most people: State Farm
- Lowest prices statewide
- Great customer service
- Mediocre coverage options
State Farm is the best insurance company for most people in Vermont because it has the best overall combination of affordability, customer service and coverage options.
State Farm has the lowest price for renters insurance we found statewide, at just $10 per month. That's $2 less than the next-cheapest option, and less than half the most expensive choice we found.
Customer service at State Farm is strong, too. It has a positive 0.38 complaint index from the National Association of Insurance Commissioners (NAIC). This means it's received only 38% as many complaints as a typical insurer nationwide. The company also has a positive renters insurance rating from J.D. Power, having received a 5/5 score in its national renters insurance survey.
The biggest drawback to renters insurance with State Farm is its relative lack of coverage options. While it offers the basics, and a few extras like valuable items coverage, it doesn't match the selection of some of its competitors. If you need a very particular set of coverages from your renters insurance company, consider Travelers.
Best coverage options: Travelers
- Wide variety of coverage options
- Affordable rates
- Poorly rated customer service
For people who want to customize their renters insurance policy with optional coverages, we recommend Travelers. It has the best selection of any insurer we looked at in Vermont.
The typical price for renters insurance from Travelers is just $12 per month. While that's more than our top pick, it's still $2 less than the average across all the companies we considered.
Travelers has more optional coverages than any other company we looked at. You can choose from replacement cost coverage, enhanced liability and mechanical breakdown, among others.
Unfortunately, Travelers' customer service leaves something to be desired. It has a negative NAIC complaint index of 1.04. That means it received slightly more complaints than a typical insurer. While not hugely significant at the national level, Travelers' complaint index is the highest of any insurer we considered in Vermont.
Best for basic coverage: Liberty Mutual
- Low available coverage limits
- Mediocre rates and customer service
For students or people who want a bare-bones policy for the lowest possible cost, we recommend Liberty Mutual. It offers the lowest available coverage limits of any company we found.
Liberty Mutual customers can buy renters insurance policies with coverage limits as low as $5,000. Your coverage limit — the maximum amount your insurer will reimburse you for — is one of the main factors that determine how much a policy costs. If you don't have much property, you can buy a policy with a lower limit and save money.
However, for our base quote of $30,000 of coverage, Liberty's rates were about average at $14 per month. That's 40% more expensive than our favorite choice, State Farm.
Additionally, Liberty's customer service appears to be mediocre. It has a 0.57 complaint index from the NAIC, meaning it's received 57% as many complaints as a typical company nationwide. That's less than the national average but more than our top pick.
How we chose the best renters insurance companies in Vermont
To evaluate the best renters insurance companies in Vermont, we considered three key factors: affordability, coverage options and customer service.
- Affordability: Does the company offer affordable rates compared to other insurers for the same level of coverage?
- Coverage options: Does the insurer offer a useful selection of optional coverages?
- Customer service: Are customers generally happy with the service they receive?
Vermont renters insurance: Costs by city
One factor that can impact your renters insurance rate is where you live. A renter in an area with low crime rates might pay less for insurance as a result; on the other hand, someone who lives in an area susceptible to natural disasters like dangerously heavy snowfall might pay more.
Here's our full breakdown of renters insurance costs by city in Vermont.
% difference from state average
Renters insurance costs also change by state. See our nationwide analysis of renters insurance costs.
Coverage options: Comparing renters insurance policies and benefits
Every renter has different insurance needs, so we value insurers that offer a wide range of useful coverage options. Here are some key optional coverages you might consider:
- Replacement cost coverage: Pays for the full cost to replace stolen or destroyed property, without factoring in depreciation.
- Valuable items coverage: Covers damage and theft of valuable property like jewelry or musical instruments, which often have limited or no coverage on a typical insurance policy.
- Water backup coverage: Covers damage to your property as a result of a water backup.
- Equipment breakdown coverage: Pays for damage to appliances as a result of mechanical wear, which is not covered under typical policies.
In addition, all the companies we looked at offer the following basic coverage options. If a company lacks these, it's likely not worth considering.
- Personal property coverage: Pays to repair or replace your personal property if it's stolen, damaged or destroyed due to a covered peril.
- Additional living expenses: Pays for temporary living expenses like a hotel if your home is uninhabitable due to a covered peril (like a fire).
- Liability coverage: Covers expenses you're responsible for covering for someone else, like if your dog injures someone.
- Medical payments coverage: Pays for medical expenses others incur at your home, regardless of who is responsible. Pays out before liability coverage.
Customer service: Evaluating insurer quality in service and claims
High-quality customer service is essential when choosing a renters insurance company. Good customer service will help you get your questions answered when you're buying a policy, and get paid promptly after you file a claim.
To evaluate customer service for renters insurance companies, we considered three key metrics: the NAIC complaint index, J.D. Power's customer satisfaction rating and AM Best's financial strength rating (FSR).
NAIC complaint index
J.D. Power rating
AM Best FSR
- NAIC complaint index: This number compares the number of complaints an insurer has received with its size. A lower score indicates fewer complaints and suggests that customers are happier with their service. The national average score is 1.00.
- J.D. Power ratings: This rating out of five is based on a national survey of renters asking how satisfied they are with their renters insurance policy. The typical score nationwide is 3/5.
- AM Best FSR: This letter grade describes the overall financial health of an insurer. Grades go from A++ to D, and a better grade suggests that the company will have a better ability to pay out claims, even in a negative economic climate or during a time of high claim demand.
To determine the most affordable options for renters insurance in Vermont, we collected quotes from five top insurers in 25 of the largest cities in the state. For all quotes, we used a 30-year-old sample renter who lives alone and has not made any recent renters insurance claims.
He's protected himself with $30,000 of personal property coverage with a $500 deductible, plus $100,000 of liability protection.