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Edited by John Leach
Last Updated February 28, 2022
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Burlington, VT Homeowners Insurance
Burlington is Vermont ‘s largest city and the birthplace of Ben & Jerry’s ice cream. Drive just 40 miles southeast, and you’ll find the state capital of Montpelier. Drive 95 miles north, and you’ll find yourself in Montreal in Canada’s Quebec province. But it’s not just the delicious ice cream and its location that make Burlington, Vermont, a nice place to live. Residents of the city have the pleasure of a lively arts culture and beautiful scenery. There are the Vermont Symphony Orchestra and the Vermont Metro Gallery. And there are attractions like the historic Lake Champlain Lighthouse and covered bridges.
Residents love Burlington so much because of how majestic the seasons are from spring to fall. The warmer months get residents outdoors. And the fall foliage is nothing short of idyllic. But residents also know how severe winters can be, especially with their homes taking a beating in the cold months. On top of harsh winters, Burlington residents pay a high cost of living compared to the rest of the United States. How can a Burlington, Vermont, resident take care of their home and expenses while still enjoying life in the Queen City? The answer is finding the cheapest and best homeowners insurance.
Insurify has the tools available to find the best home insurance to cover all your insurance needs. Find out how easy it is, and get a quote now!
Cheapest Home Insurance Companies in Burlington
For homeowners in Burlington, it's important that you evaluate all of your potential insurance options to ensure you are finding the best rate. Comparing the right insurance companies will allow you to get the best possible insurance rate for your home.
To simplify comparing companies, Insurify has analyzed rates from top insurance providers in Burlington. The following are the best insurance rates from carriers that offer homeowners insurance in Burlington.
How to Find Cheap Home Insurance in Burlington
Demand is high for homebuyers in Burlington, Vermont. All the while, home sellers are reluctant to have people see their homes during the COVID-19 pandemic. If you’ve recently bought a house in Burlington, you know that real estate is a hot commodity. Consider yourself lucky.
But buying a home is a significant financial investment of your lifetime. And like any investment, there are risks. How do you minimize risks while protecting your investment? The answer is homeowners insurance in Burlington, Vermont.
Purchasing a home insurance policy means you get protection on your home and personal belongings. This protection is for covered losses like fire, theft, and natural disasters. You also get personal liability protection if someone becomes injured on your property and sues you. There are coverage options for every homeowner at different price levels. What’s even better? There are unique ways to save money at the same time.
From Essex Junction to Colchester, keep reading for a full guide on Burlington home insurance.
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Cheapest Home Insurance in Burlington by Company
Homeowners insurance rates aren’t always designed with savings in mind. That’s where Insurify comes in. Our free home insurance comparison tool allows you to find the best policy for the best rate fast. And your information stays private and protected.
As of 2021, the average home insurance premium in the Burlington area costs $956 annually, and the median home value is $347,731.
The median home price is slightly higher than the national average. But home insurance premiums in Burlington, Vermont, are lower than the national average. That’s great news! Especially since the average cost of living in Burlington is 21 percent higher than the national average. You need to save where you can, and if home insurance can be even more affordable, that’s a win-win.
Keep in mind that multiple factors influence how much you’ll pay on home insurance in Burlington. From your home’s property type to the amount you paid for your home, coverage will vary from person to person. Much like these unique elements, finding the best homeowners insurance will be dependent on your needs. Pricing will differ from one insurance carrier to another, too. That means State Farm, Allstate, and Liberty Mutual insurance will all have different pricing. Below you’ll find the cheapest home insurance in Burlington by company.
|Average Home Cost in Burlington||Average Annual Insurance Premium in Burlington|
Average Annual Home Insurance Premium in Burlington by Company
Average prices for standard homeowners insurance for a 7-15 year old home, $200,000 in coverage
Cheapest ZIP Codes in Burlington for Home Insurance
Finding home insurance rates in Burlington, Vermont, is similar to property costs. Rates are dependent on ZIP codes. Do you know someone living in the rural area of South Burlington? If you live in Burlington proper, you will be paying different prices on home insurance. That’s because crime rates, property costs, and natural disaster frequency in one area are never the same as in another. And the volume of claims filed nearby are different, too. That also means that your specific neighborhood may determine how much you pay on annual premiums.
Rates in Burlington can be relatively low compared to the national average; it all depends on which town you live in.
Home Insurance Coverage Types in Burlington
There are several types of home insurance. Specific terms of insurance policies may vary by city, but in general, the standard policy types are as follows:
The simplest and least comprehensive type of homeowners insurance
Provides coverage for a handful of potential problems, including
- Dwelling coverage for damages from some natural disasters (storms, fires, wind, lightning, volcanic eruption),
- damage from vehicles,
- or civil commotion.
Broad form homeowners insurance policies include all basic form coverage, plus protection from:
- falling objects,
- damage from the weight of ice, snow, or sleet,
- freezing of household systems including HVAC and pipes,
- sudden and accidental damage to pipes and other household systems from artificially generated electrical current,
- accidental discharge or overflow of water or steam,
- sudden and accidental damage.
HO-2 policies typically cover both dwelling protection and personal property.
In some cases, broad form coverage may also include liability coverage. However, it still only covers the specific damages listed in the policy.
The most common form of homeowners insurance is known as a “special form” policy.
While HO-1 and HO-2 policies are “named peril” policies (meaning they only cover dangers that are specifically listed in the policy), HO-3 policies are “open peril” policies meaning they’ll cover all dangers except those specifically excluded in the policy documents.
HO-4 policies, also known as renters insurance, are for people who lease rather than own their homes.
Tenant’s form policies typically cover all the same dangers as HO-2 policies.
These policies include personal property coverage and liability coverage but don’t cover the physical structure of the house.
Some HO-4 policies may also include loss of use coverage for the tenants.
Comprehensive form policies are usually the broadest and provide the highest level of coverage; not surprisingly, they also tend to be the most expensive type of homeowners insurance policy.
The biggest difference between HO-3 and HO-5 policies is that most HO-3 policies are “actual cash value” policies, whereas typically HO-5 policies are “replacement cost value” policies.
An actual cash value policy will only reimburse you for the actual value of a damaged or destroyed item, while a replacement cost value policy will reimburse you for however much it would cost to completely replace or repair the damaged or destroyed item (up to the coverage limits on the policy).
HO-5 policies also provide personal property coverage against a wider range of dangers than the typical HO-3 policy. Many HO-5 policies also have extra coverage for high-value personal property, such as jewelry and artwork.
Not surprisingly, condo form insurance is for condominium owners. HO-6 policies generally protect against the same types of dangers as HO-3 policies.
They provide dwelling protection coverage with a twist: HO-6 policies cover the walls, floors, and ceiling of the condo unit but not the rest of the building.
These policies also include personal property and liability coverage and may include loss of use coverage.
If you own a mobile home or manufactured home, you likely have an HO-7 policy.
Mobile home form policies are typically identical to HO-3 policies, except they’re designed specifically for mobile and manufactured homes.
Like HO-3 policies, they provide dwelling protection coverage, other structures coverage, personal property coverage , liability coverage, and possibly loss of use coverage as well.
HO-7 policies generally only protect the home when it’s stationary; if you plan to move your mobile or manufactured home, you’ll need to get a special policy to cover it while it’s in transit.
Older homes have generally been built to less stringent code standards than recently built homes, and so insurers have designed a specialized type of homeowners insurance policy for them.
HO-8 policies often only cover the basic perils listed in HO-1 policies and generally apply to homes that are registered landmarks or otherwise deemed historic homes.
Owners of registered landmarks are typically forbidden from making the updates to HVAC, electrical, and other parts of the home that would enable them to qualify for a standard HO-3 policy, so an HO-8 policy is often the only option for them.
For more detailed Vermont city level guides, check out these below.
Natural Disasters and Homeowners Insurance In Burlington, Vermont
Vermont faces droughts, heavy snow, strong winds, and severe winter storms. If you live in Burlington, you know that the winters are extremely tough. Snow and ice pile onto homes, causing damage. Thankfully, home insurance helps pay for the repair and replacement of items damaged by things like wind and heavy snow. But there are some exclusions to be aware of.
Because of the severe winter weather, there may be severe flooding in the spring. Most homeowners insurance policies do not include flood insurance, so you should buy separate flood insurance. Talk to your insurance provider about options on flood insurance.
Bundling to Get the Best Rates
Most insurance companies offer to bundle on home insurance. The practice of bundling is combining multiple insurance products like home and auto insurance. You can even bundle your home insurance and life insurance, too. Bundling is the best way to get the best rate, as it can lead to significant discounts and other benefits on insurance rates. Pretty much any insurance company that offers home insurance and auto insurance policies will give you a deal when you bundle.
The best way to compare home insurance quotes on bundling packages is by using our comparison tools. You’ll be able to see the best deals available for your coverage needs, all in one place. It only takes a couple of minutes, and then as soon as you know it, we’ll deliver insurance quotes to your email inbox. It’s that easy!
How to Find the Cheapest Home Insurance in Burlington
Burlington can be a magnificent place to live, rich with history and beautiful scenery. If you live in Burlington, Vermont, or plan to move there, you must know the best ways to save in such a high cost of living area. The best way to start? By saving on homeowners insurance.
Use Insurify to compare home insurance quotes for your property in Burlington .
Frequently Asked Questions
You can find business insurance through many small and large insurance agents in Burlington. Talk to your insurance agent to see if they also offer business insurance. You could potentially save by buying multiple policies under one company.
Bundling insurance products works by combining an auto policy and a home insurance policy under one. Insurers want to sell as many insurance products as possible. So they are happy to offer a discount on the purchase of multiple insurance products.
When you're looking at insurers, it's always wise to take a look at credible rating agencies like A.M. Best and Moody's. They work by providing evaluations of an insurance company's operating performance. The rating is important because a better rating means the insurer will be more likely to pay out claims sufficiently.
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