Vermont Auto Insurance Laws
Vermont Auto Insurance
All drivers in Vermont are required to show financial responsibility by having auto insurance, either buying an auto insurance policy with a company, or by self-insuring for $115 ,000, through the commissioner of motor vehicles.
Minimum Vermont auto insurance
Having an auto insurance policy can help protect you and your assets in case of an accident. If you're buying auto insurance, you'll need to meet the following minimum liability amounts:
- Bodily Injury and Death: $25,000 to cover one person in any one accident, and $50,000 to cover all injuries
- Property Damages: $10,000
Luckily in Vermont, auto insurance rates tend to be lower than the national average. It's important to have as much coverage as you can afford, because in case of an accident you may be strapped with high medical and repair bills.
The state of Vermont follows a tort system, meaning that in case of an accident, one of the drivers will be found at fault for causing the accident. That driver will need to work with his insurance company to pay for all of the damages from the collision, including medical bills, vehicle repair, and all other costs . It's important to make sure that you can cover all of these costs, if you're in this unfortunate situation.
Penalties without Vermont auto insurance
If you're caught driving without insurance, or if you're in an accident or driving recklessly, your license can be revoked. There will also be a fine up to $100. Even if you're not caught by police while driving, you can be found to be breaking the law if you let your insurance lapse, because your insurance company can notify the Vermont Department of Motor Vehicles.