Is Vermont Mutual Auto Insurance Good?
Last Updated on February 25, 2021
Vermont Mutual Insurance Group is a Montpelier-based insurance company serving drivers across Massachusetts, Maine, New Hampshire, and Vermont.
The company provides home and auto insurance, emphasizing good-value insurance policies and local agents.
Is Vermont Mutual a good car insurance company? Should you buy auto insurance with Vermont Mutual? Find out everything you need to know about the car insurance company today in our review.
Table of Contents:
- About Vermont Mutual
- Vermont Mutual Insurance Products
- How Vermont Mutual Auto Insurance Works
- What Makes Vermont Mutual Unique?
- Vermont Mutual Auto Insurance Discounts
- Vermont Mutual Reviews & Ratings: What Do Customers Have to Say?
About Vermont Mutual
Vermont Mutual offers affordable car and home insurance in the states of Massachusetts, Maine, New Hampshire, and Vermont.
The company sells insurance through a network of independent agents across its target states. These independent agents sell Vermont Mutual auto insurance and other insurance products.
To differentiate itself from competitors, Vermont Mutual emphasizes affordable prices on home and auto insurance. The company writes policies at “a substantial discount,” according to the official website, while also offering a range of discounts.
Vermont Mutual Insurance Group is a collection of three companies, including:
- Vermont Mutual Insurance Company
- Northern Security Insurance Company, Inc.
- Granite Mutual Insurance Company
Vermont Mutual is based in Montpelier. Although the company sells car insurance in four states, it sells other insurance products in a total of seven states. You can find Vermont Mutual agents in Connecticut, Maine, Massachusetts, New Hampshire, New York, Rhode Island, and Vermont.
Founded in 1828, Vermont Mutual is one of the ten oldest mutual property and casualty insurance companies in the United States.
Vermont Mutual was once affectionately known as The Old Vermont. In its early days, Vermont Mutual provided fire insurance, and the company was known as the Vermont Mutual Fire Insurance Company. The company has operated continuously since 1828.
Like other mutual insurance companies, Vermont Mutual is owned by policyholders. Some insurance companies are public, which means they answer to stockholders. Vermont Mutual answers to policyholders.
Today, Vermont Mutual has 800 independent agency office locations in seven states. The company also has one of the strongest financial ratings in the industry, and it’s frequently ranked among the best insurers in New England and the Northeast.
|Vermont Mutual Contact Information|
|Address||89 State St
Montpelier, VT 05601
|Phone Number||(802) 223-2341|
Vermont Mutual Insurance Products
Vermont Mutual sells home insurance, auto insurance, and other insurance products. Some of the products available through Vermont Mutual include:
Personal Auto: Vermont Mutual sells personal auto insurance products in Massachusetts, Maine, New Hampshire, and Vermont. The company emphasizes affordable car insurance for families, young drivers, old drivers, and anyone else in their targeted area. You can buy full coverage car insurance, minimum liability insurance, added coverage, and other options.
Homeowners: Vermont Mutual sells homeowners insurance in seven states. The company sells a range of homeowners insurance products to cover homeowners, tenants, condos, mobile homes, and more. You can customize policies with enhancements, endorsements, and additional coverage options.
Dwelling Fire: Vermont Mutual began life as a fire insurance company nearly 200 years ago. Today, Vermont Mutual continues to offer dwelling fire coverage. This coverage is designed primarily for tenant-occupied properties or other properties you own or rent. These properties may not qualify for homeowners coverage, but you can protect them with dwelling fire coverage.
Inland Marine: Personal inland marine coverage is for policyholders who need special coverage for items unique to them, including jewelry, silverware, fine arts, and many other unique items. Vermont Mutual makes it easy to protect high-value items with its inland marine coverage – something that not all insurance companies offer.
Commercial: Vermont Mutual sells commercial insurance for business owners, including business insurance, inland marine commercial insurance, and umbrella commercial insurance.
Umbrella: Vermont Mutual sells umbrella coverage for added protection. Umbrella coverage protects you against liability, preventing your assets from being seized. You get higher liability limits above and beyond your Vermont Mutual home or auto insurance policy.
How Vermont Mutual Auto Insurance Works
Vermont Mutual auto insurance is popular with drivers throughout the Northeast and New England. Vermont Mutual sells car insurance to drivers in four states, including Massachusetts, Maine, New Hampshire, and Vermont.
Car insurance options available with Vermont Mutual include:
Liability Coverage: Most states require drivers to have bodily injury liability coverage and property damage liability coverage. These coverages protect other drivers from your actions. Vermont Mutual provides liability coverage that meets or exceeds minimum requirements in all covered states.
Collision Coverage: Optional in all states, collision coverage compensates you for damage to your own vehicle after an accident. Vermont Mutual offers collision coverage in all covered states.
Comprehensive Coverage: Also optional in all states, comprehensive coverage compensates you for damage to your vehicle that occurs outside of accidents.
Uninsured and Underinsured Motorist Coverage: Approximately 1 in 7 drivers in America have no car insurance. Many Vermont Mutual auto insurance policyholders buy uninsured or underinsured motorist coverage for added protection.
Umbrella Coverage: Some car owners buy umbrella coverage for added protection. You can raise your liability protection from $1 million to $10 million for added peace of mind.
Gap Insurance: Vermont Mutual offers gap insurance, which compensates you for the value of your loan or lease if your car is involved in a total loss incident. Without gap coverage, you might owe more than your car is worth after a total loss claim.
Roadside Assistance: Vermont Mutual offers roadside assistance for a few extra dollars per month. It covers battery replacement, locksmith services, towing, fuel delivery, and other basic roadside repairs.
Other Coverage Options: Homeowners can add personal injury protection, medical payments coverage, and other optional auto insurance coverages based on their requirements.
What Makes Vermont Mutual Unique?
Drivers in Vermont and surrounding states have many options for car insurance. Why pick Vermont Mutual? Here are some of the advantages touted by the company:
200 Years of Experience: Vermont Mutual has been continuously operating since 1828. The company has nearly 200 years of experience providing car insurance throughout Vermont and surrounding states. It’s one of the ten oldest insurance companies in the country.
Mutual Insurance: Some insurers are publicly-traded. Their goal is to deliver profits to shareholders. Others, like Vermont Mutual, are mutually owned by policyholders. Vermont Mutual is a mutual insurance company owned by policyholders since 1828.
Locally Based: Vermont Mutual is based in Montpelier, Vermont. Drivers in Vermont and surrounding states may like working with a local company instead of a faceless nationwide firm.
Affordable: Vermont Mutual emphasizes affordable insurance premiums. The company’s rates tend to be very competitive with other providers in the region.
Strong Financial Position: For a smaller insurance company, Vermont Mutual has a surprisingly strong financial strength rating. The company has an A+ (Superior) rating from A.M. Best. Some regional companies are over-exposed to liability from local disasters. Vermont Mutual has mitigated this liability with a strong portfolio of assets. That means the company should cover future claims without worry.
Vermont Mutual Auto Insurance Discounts
Vermont Mutual is known for its affordable rates, but the company also offers further auto insurance discounts to drivers.
Some of the discounts available through Vermont Mutual include:
Multiple Vehicle Discounts: If you insure multiple vehicles with Vermont Mutual, then you receive a discount across all vehicles.
Multiple Policy Discount: Vermont Mutual offers more than just car insurance. If you bundle homeowners insurance, auto insurance, and other insurance products together, then Vermont Mutual gives you a discount across all policies.
Safe Driving Discounts: Drivers with 3 to 7 years of safe driving experience will pay lower rates with Vermont Mutual. If you have no speeding tickets or at-fault accidents in the last three years, then you should save at least 20% on car insurance.
Vermont Mutual Reviews & Ratings: What Do Customers Have to Say?
Vermont Mutual has good ratings with drivers in Vermont and other surrounding states. The company is popular throughout New England and the Northeast. Although it’s not as large as many of its competitors, Vermont Mutual continues to be one of the top-rated insurers in the region.
Vermont Mutual has an unusually low rating on its Better Business Bureau page, with 11 customers giving the company a rating of 1.18 stars out of 5. Typically, people don’t review their insurer unless they have an issue with a claim, so low ratings are expected even with stronger insurance companies. Vermont Mutual has an overall rating of A+ from the BBB.
Third-party review aggregator websites like Clearsurance have given Vermont Mutual a rating of 3.88 stars out of 5.
Vermont Mutual has a surprisingly strong financial strength rating compared to other companies of its size. The company has received a financial strength rating of A+ (Superior) from A.M. Best, a global rating agency for the insurance industry. The company upgraded Vermont Mutual’s rating in 2014 from A+ (Excellent) to A+ (Superior).
Vermont Mutual has also long been recognized as a Top 50 performing insurance company by Ward Group. Each year, Ward Group analyzes 3,000 insurance companies across America for profitability, efficiency, and financial strength. Vermont Mutual has been part of Ward’s 50 group for 12 consecutive years (since 2009).
Vermont Mutual is not large enough to appear on J.D. Power’s rankings. J.D. Power ranks the top 20 insurance companies nationwide and regionally.
Final Word – Vermont Mutual Review
Vermont Mutual is a popular and well-rated auto insurance company serving drivers in Massachusetts, Maine, New Hampshire, and Vermont.
Based in Montpelier, Vermont Mutual has sold insurance for nearly 200 years. Today, the company continues to be one of the strongest and most efficient insurance companies in the country.
To learn more or request a quote today, visit VermontMutual.com.