Flood damage can be irreparable

Vermont enjoys a climate that attracts tourists to its ski slopes in the winter and resort towns in the summer. The state is also known for its heavy rains, which can cause problems for a Vermont homeowner, especially if he or she doesn’t have a home insurance policy.

How Much Does Vermont Home Insurance Cost?

According to the Insurance Information Institute, in 2010, the average annual premium for homeowners insurance in Utah was a relatively low amount of $730. The cost of a policy is determined by several factors.

The age and condition of your home will affect how much an insurance company will charge you. Insurance companies will charge less to insure a new home that is in good condition because there is less of a chance of something going wrong with it. If a home is older, there’s a greater chance that it will have problems with the pipes or electrical wiring. A home’s location can factor into the determination of cost as well. If a home is located in a high-risk area for crime or flooding, it may cost more to insure.

Insurance companies may also consider a homeowner’s credit score and claims history, as well as other factors, when determining a premium. Fortunately, there are ways to save. Some insurance companies offer discounts if the home has fire and smoke alarms, fire extinguishers, sprinklers, security alarms, and deadbolt locks installed. Each insurance provider will have a different policy on discounts, so make sure to ask about this when you’re comparing companies.

What Does It Cover?

Home insurance in Vermont typically covers the structure of your home, the possessions inside it, and even certain other structures standing on your property. The coverage protects you from damage caused by fires, lightning, smoke, vandalism, theft, falling objects, weight of ice and snow, and more. Most home insurance policies also include liability protection in case someone gets injured on your property. However, insurance does not include coverage of damage due to flooding, one of the most significant environmental hazards in the region, and earthquakes.

Do I Have to Get Home Insurance in Vermont?

Home insurance is not required by law in Vermont. However, buying insurance can help protect your house and property against damage from unforeseen circumstances, and liability for accidents that injure other people or damage their property. The Vermont Department of Financial Regulation has more information for consumers about homeowner’s insurance.

Optional Coverage to Consider

  • Flood. Vermont receives an average of 40 inches of rain and 81 inches of snowfall a year, which is enough to create the right conditions for flooding. Unfortunately for homeowners, flood insurance isn’t typically covered by most policies. Because of the amount of rain and snow Vermont receives annually, consider purchasing flood insurance, which you can get through your insurance provider or the National Flood Insurance Program (NFIP).
  • Earthquake. Although they’re not common, earthquakes can happen in Vermont. Because of Vermont’s location between a seismically hazardous region in northern New York and New Hampshire, it may still feel the effects of an earthquake elsewhere. For example, a magnitude 5.2 earthquake that hit western Maine in 1973 damaged plaster, chimneys, and roads in Vermont. Earthquake insurance is typically not covered by most policies. Because of the state’s history with the occasional earthquake, you may want to consider purchasing earthquake insurance as a separate endorsement to your home insurance policy.

Mobile Home Insurance in Vermont

Mobile home insurance, sometimes called manufactured home insurance, similar to standard home insurance. The coverage includes damage to your home and the contents inside from fire, smoke, lightning, weight of snow and ice, windstorms, hail, vandalism, and theft. Floods and earthquakes are usually not covered. Most policies include liability coverage and reimbursement for living expenses if you have to temporarily move out of your home because it is too damaged to live in.


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