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Colchester is one of the top five most populous cities within the state of Vermont and is located in the northwestern region of the state. Tourism is important to the local economy, and tends to be seasonal (especially during the summer months). Retail is also an important industry for Colchester, raking in around $250 million annually for the city.
Driving legally in Colchester requires:
| Coverage | Requirements | Most Common |
| Liability Bodily Injury | 30,000/55,000 | 100,000/300,000 |
| Liability Property Damage | 10,000 | 50,000 |
| Bodily Injury - Motorist Uninsured | 50,000/100,000 | 100,000/300,000 |
| Medical Payments | Not required | 5,000 |
| Collision | Not required | 500 deductible |
| Comprehensive | Not required | 50 deductible |
However, keep in mind that the state minimums listed above are extremely limited in what claims it will pay out. For theft, vandalism, or an accident that is the other driver’s fault, your insurance will not cover you.
Depending on many different elements, some Vermont motorists can expect to pay as high as $96/month for their Automobile insurance premiums. However, the average driver in Colchester with a good credit history and a clean record can get insured for around $27/month from* some of the top Vermont car insurance companies.
As you can see, Allstate has some of the lowest rates around. But insurance isn’t all about premiums. Customer service is important, as well as the claims filing process. Make sure you do your research and find the company that’s right for you.
Those who supply auto insurance plans consider various bits of data while calculating insurance rates, like gender, where you live, type of vehicle owned, education, whether or not you have installed a theft protection device on your vehicle. Also bear in mind that your premiums may differ from carrier to carrier. To figure out if you are still forking out the lowest-cost rate available, review cheap Colchester auto insurance price quotes over the internet.
Any time your auto insurance provider gets ready to build your insurance policy, they take a lot of aspects into mind. Some of these, for instance your car’s make/model or maybe your specific region, tend to be very unlikely to vary. Some other components are:
Auto insurance companies need to know where you live (or where you will be driving most often) in order to calculate the likelihood of an accident. It all boils down to a very simple concept: the more cars on the road, the more possibilities you have to hit or be hit by another vehicle. The population of Colchester is 17,067 and the typical household earnings are $70,076.
Thankfully, Deadly accidents in Colchester are relatively low. There were only 2 Deadlyities in 2012, which was a drop from the previous year. Since Colchester doesn’t seem to be an area where significant accidents happen too frequently, you shouldn’t have to worry about such elements raising your premiums.
Anti-theft devices are a great way to protect yourself from auto theft. They are relatively affordable, easy to have installed, and once equipped, require little effort on your part. And best of all, most insurance companies will give you a discount on your auto insurance just for having one! In Colchester, they had a grand total of zero Car Thieving in the calendar year of 2013. And when your risk of theft is so low, you might be able to save money by prioritizing Comprehensive coverage less.
The secret is out: your credit score can have a significant influence on how expensive (or inexpensive) your monthly premiums will be. As demonstrated in the chart below, having poor credit can increase your rate between 100-200% or more, depending on your insurance company (As well as other elements).
As you can see from the chart below, young teenage drivers get charged immensely higher rates. Their youth, as well as their lack of driving experience, make them much more risky to insure. However, teenage drivers can try to alleviate some of this financial stress by looking into a Good Student discount, or taking additional driver education courses.
After your credit score, your driving record is the next biggest factor which can alter your monthly premiums. Those with a clean driving record will pay substantially lower rates than motorists who have speeding tickets, other moving violations, or significant accidents in their recent past. If you have significant violations, such as a DUI, certain companies may refuse to insure you at all.
As you can see from the chart above, it costs substantially more to insure a luxury vehicle than a typical fuel-efficient sedan. In addition to the higher price of the luxury vehicle (and therefore higher replacement costs if it gets damaged or stolen), most drivers tend to purchase more insurance coverage. And the more coverage your purchase, the higher your monthly rate will be.
You might be able to tweak your monthly rate somewhat by forking out attention to these elements, too:
Whether you are single or married, as an individual, your marital status will not influence your monthly rate by more than a few percentage points, if at all. However, married couples can get access to lower rates by bundling their policies together with the same company. You can get further discounts by bundling homeowner’s insurance, or renter’s insurance to your auto policies.
Whatever preconceived notion you may have about which gender is better behind the wheel, the data doesn’t confirm any biases one way or another. Depending on your insurer, you may be charged 1-2% more or less based on your gender alone, or you may be charged the same rate regardless.
Driving times aren’t too bad for Colchester, averaging between 17 and 20 minutes each trip. A little over 76% of the population will likely be using their own truck or car in order to achieve their daily commute, which could cause a little traffic congestion during the morning and evening rush hour traffic. Around 9.4% carpool.
If you have your vehicle listed on your insurance policy as a business vehicle, you can expect to pay around 10% more, regardless of how often you drive each year. Total miles driven, as well as your purpose on the road (work/school/pleasure) won’t alter your monthly premiums by more than 1-2%.
Obviously, someone who only buys the state minimum mandatory coverage will pay less per month than a driver with additional coverage on their policy. If you feel you need more than the mandatory minimum coverage, but don’t want to pay expensive premiums each month, try raising your deductible. This is especially economical for safe drivers who don’t anticipate a need to file multiple claims.
29% of residents in Colchester have successfully obtained their high school diploma or another equivalent, while an impressive 21% of locals have also earned a bachelor’s degree. For this highly-educated group, they have more to look forward to than improved employment possibilities; they will also save lots of money on their auto insurance.
Within the city limits of Colchester, there are a few possibilities for a higher education for those potential students who do not wish to commute to larger cities nearby. The Albany College of Pharmacy and Health Sciences is located in the southern part of Colchester right off of I-89, as well as Southern New Hampshire University. Additionally, the University of Vermont operates a satellite campus in Colchester (often referred to as the Extension of the University of Vermont).
Auto insurance is without doubt one of the most significant investment decisions you will make as an individual. You’ll want to ensure you obtain a sincere, accountable agency which will follow through on their offers. A couple of car insurance agencies will be greater at this than others, and performing a diligent web based hunt can assist you differentiate the favorable from the unfavorable.
Sources:
Vermont Department of Financial Regulation – Insurance Division
Vermont Department of Financial Regulation
Department of Highway Safety and Motor Vehicles