Electric vs. Vermont Mutual: Which Company is the Best Fit for You?

Quick Facts

• In general, Vermont Mutual offers significantly cheaper premiums than Electric
• Electric offers more discounts than Vermont Mutual
• Vermont Mutual offers less expensive average prices for policyholders who may not have much of a commute

Electric vs. Vermont Mutual: Which Company has the Cheapest Car Insurance?

So, you're considering switching your auto insurance. With so many ads from all sorts of companies offering large discounts, you're probably wondering exactly how much you might be able to save.

You've maybe even narrowed your search down to Electric or Vermont Mutual, but which company will offer you more affordable rates?

Looking at nationwide averages, Electric is quite a bit more expensive than Vermont Mutual, with premiums averaging $266 per month compared to just $173 with Vermont Mutual.

That being said, that doesn't mean Vermont Mutual will necessarily be cheaper than Electric for every driver. Auto insurance companies vary their prices depending on things like how clean your driving record is, where you live, how old you are, how good your credit score is, and tons of other factors, so premiums will vary quite a bit from person to person.

Luckily, we've broken down average rates from both Electric and Vermont Mutual by several different rate factors, so read on to find out which carrier is the best for you.

Electric or Vermont Mutual: Average Car Insurance Rates by State

Electric and Vermont Mutual only compete against each other in one states, with Vermont Mutual offering less expensive prices to the average driver in all of them. Maine has the most noticable difference, where Vermont Mutual premiums are over 30% cheaper than car insurance rates at Electric.

There are plenty of other factors that go into your insurance payment than just your home state. Continue reading to see how other factors will affect your rates.

Which is the Best Company For Young Drivers?

You might already know that teen drivers usually pay a lot more for car insurance than any group out there on the road. The reason is that young, inexperienced drivers are statistically much more likely to get into accidents since they have less experience on the roads.

But still, even with seemingly sky-high prices, teen drivers can still find ways to save money. As you can see above, teens who use Vermont Mutual save nearly $250 a month compared to those who use Electric.

Even so, both carriers will offer you dramatically lower rates once you turn 25. For example, average premiums for Electric policyholders reduce more than $300 and Vermont Mutual's prices drop almost $200 over that time.

Which is the Best Company for Retired Drivers?

Drivers around retirement age generally enjoy some of the lowest auto insurance rates you'll ever find. After all, they've likely been driving for quite some time, which typically lowers their chances of accidents and other infractions that can increase prices.

When looking at Electric and Vermont Mutual specifically, which company is best for retired drivers? Vermont Mutual gets the edge here, with average premiums coming in at about $131 per month compared to Electric's $178.

Which is the Best Company for Married Drivers?

You may not be aware, but car insurance prices tend to be more affordable for married drivers than they are for single drivers. This usually boils down to married couples having multiple cars on their policy -- something quite a few auto insurance companies will reward with discounts.

When it comes to relationship status, Vermont Mutual is the clear winner for those who are single, with premiums around $115 per month less expensive than Electric, on average. The advantage for married policyholders with Vermont Mutual is also obvious, where drivers save about $65 a month.

Electric vs. Vermont Mutual: Average Rates by Gender

Men are statistically more likely than women to get into collisions and file an insurance claim, which means they'll normally end up paying more for insurance than women.

With Electric, women usually pay around 7% per month less than men, and about 8% less with Vermont Mutual.

Looking at overall affordability, Vermont Mutual offers the cheapest average rates for both men and women. On average, women save about $91 a month and men save around $96 with Vermont Mutual compared to the average Electric policyholder.

Electric or Vermont Mutual: Compare State Minimum vs. Full Coverage Rates

*State minimum value indicates liability-only policies at each state's minimum bodily injury and property damage (BI/PD) limits

**Full coverage indicates state minimum BI/PD limits with collision and comprehensive coverages added to policy.

It's no secret that auto insurance can be pretty complicated. There are many different coverages that account for a variety of different things. Some protect you and your vehicle, while others only provide coverage for other people's property and health if you cause an accident.

But most policies that many drivers look at fall into two categories -- liability only (which covers the other party's injuries and property damage if you cause a collision) and full coverage (which includes comprehensive and collision coverages that protect your own vehicle, alongside liability).

If you're looking for state minimum liability insurance, Vermont Mutual typically offers significantly cheaper prices of $85 compared to Electric's $150. When it comes to full coverage policies with similar limits, Vermont Mutual again has the edge, with policies about $100 per month less expensive than Electric, on average.

Is Electric or Vermont Mutual Better for Drivers with Spotty Records?

You've probably seen plenty of commercials from car insurance carriers offering great premiums for good drivers, but that doesn't mean people with less-than-perfect driving records can't save money, too.

You'll probably end up paying more with accidents and tickets on your record, but which of these two companies offers the most affordable rates to drivers with less-than-ideal driving records?

Which Company is Best for Drivers with Speeding Tickets?

Electric policyholders can expect their prices to go up an average of $29 a month if they get a ticket, while Vermont Mutual generally raises rates around $7 per month, on average.

However, Vermont Mutual tends to offer the best prices for both drivers who have a recent speeding ticket and those with clean records, offering premiums that are $91 and $113 more affordable, respectively, compared to Electric Insurance Company.

Which Company is Best for Drivers After an Accident?

After an accident, drivers who have their insurance through Electric can expect to see about an $28 -- or around 12% -- increase in their car insurance rates. Drivers who use Vermont Mutual for their insurance will see a monthly bill about $27 (or 19%) more expensive after reporting an accident to their auto insurance carrier.

Overall, Vermont Mutual offers the cheapest premiums for drivers with an at-fault accident on their records, with monthly prices averaging $144 compared to Electric Insurance Company's $236.

Which Company is Best for Drivers with a DUI?

On average, a DUI offense is going to cost you much more than a single collision or ticket when it comes to your car insurance bill. Vermont Mutual drivers usually see a 62% increase in their auto insurance premiums after a DUI charge, while Electric will normally climb rates by around 46%.

If you have a DUI on your record and are looking for more affordable prices, Vermont Mutual tends to be the much less expensive option with average rates of $307 monthly compared to $385 from Electric.

How does Credit Score Impact Electric and Vermont Mutual Rates?

You may not have known, but your credit score can come into play when carriers calculate your monthly bill. Certain states and companies do not allow for credit score to be used as a rating factor, but it might come into play for a lot of drivers.

Insurance carriers argue that someone with bad credit is less likely to pay their bills on time, which makes them riskier to insure. Because of that, policyholders with bad credit will often be forced to pay more.

So, which company offers the most affordable prices for drivers with good, average, or poor credit?

Which Company is Best for Drivers with Good Credit?

If you have solid credit, you'll usually find a better deal with Vermont Mutual. Policyholders with "excellent" credit can save just under 35% compared to Electric, and those with "good" scores can also expect to see savings -- about $92 or 43% more affordable each month.

Which Company is Best for Drivers with Bad Credit?

Vermont Mutual typically offers lower premiums than Electric when it comes to drivers with a below average credit score. Drivers with "fair" credit pay around $105 a month less with Vermont Mutual compared to Electric, and those with "poor" scores typically save an average of about $138 a month.

Is Electric or Vermont Mutual Better for Drivers who Work from Home or Have Short Commutes?

How much you drive can have a big impact on your monthly rates. Usually, the more miles you drive, the more you can expect to pay for car insurance.

As you can see in the table above, annual mileage doesn't have much of an impact on how much Vermont Mutual charges. However, there's a pretty significant difference in monthly premiums for Electric, with drivers who put 6,000 miles on their car annually paying around $33 less every month compared to those who drive 12,000 miles each year. Still, Vermont Mutual is the cheaper option for drivers in both categories.

Electric vs. Vermont Mutual: Compare Rates for Urban, Suburban, and Rural Drivers

Where your home is can play a substantial role in how much you pay for auto insurance. Generally, if you live in a rural area with fewer cars on the road, you'll pay a little less for insurance, while the opposite is true for people in urban areas.

When comparing these two companies side-by-side, Vermont Mutual normally comes out as the cheapest option for drivers in every type of area, no matter if it's urban, suburban, or rural.

Those in rural areas can expect to pay about $152 per month with Vermont Mutual and $262 with Electric. People in suburban areas pay a monthly rate of around $169 with Vermont Mutual compared to $234 with Electric. For drivers in urban ZIP codes, Vermont Mutual's average rates are about $199 while Electric offers premiums around $304.

Electric vs. Vermont Mutual Discounts

You want to save as much money as possible, right? The best way to do that is by utilizing as many auto insurance discounts as you can.

But with what seems like a million different discounts out there, it can be hard to find all the ones you're eligible for or to nail down the company that has the most discounts for your unique driver profile.

In the table below, we've taken a look at all of the different discounts Electric and Vermont Mutual offer their customers so that you can see which one offers the most discounts and see which ones you might be able to take advantage of.

Looking at the total number of discounts, Electric has advantage when it comes to total number of discounts. Vermont Mutual offers a grand total of 14 discounts, while Electric has 17.

Both carriers offer quite a few of the same discounts -- like anti-theft discounts, discounts for getting driver training, and paid in full discounts -- but Electric also offers COVID-19 relief discount, defensive driver discounts, electric vehicle discounts, and more that Vermont Mutual does not.

On the flip side, Vermont Mutual has a couple unique discounts of its own -- annual mileage discounts, distant student discounts, experienced operator discounts, and more.

Final Thoughts: Is Electric or Vermont Mutual Best for You?

So, we've broken down the average prices for many of the variables car insurance companies look at, and we've shown you all the discounts each carrier offers. But, when it comes down to it, which company is the best company for you and your specific driver profile?

Vermont Mutual might be best for you if....

• You have a DUI charge on your record.
• You live in a rural neighborhood.

Electric might be best for you if...

• You want to save extra money with discounts.

We hope this guide has ben a valuable resource as you compare Electric and Vermont Mutual. We also hope we've given you the information you need to make the best decision about your insurance.

At the end of the day, the best way to make sure you're getting the best deal on your auto insurance policy is to compare quotes from several carriers, not just Electric and Vermont Mutual. Luckily, sites like Compare.com make it easy for you to do just that. Just enter your ZIP code below and get free quotes from dozens of the top car insurance companies in your area, all in just a few minutes.

Electric vs. Vermont Mutual FAQs

Is Electric or Vermont Mutual cheaper?

Looking just at the national average premiums, Vermont Mutual is the less expensive of the two carriers, offering average rates of $173 per month compared to $266 for Electric. Even so, Vermont Mutual won't necessarily be the lowest carrier for every policyholder, since there are lots of different factors (things like gender, age, driving record, etc.) that play a role in how much you pay.

Who is better, Electric or Vermont Mutual?

Unfortunately, the answer truly is "it depends.". One company is not necessarily "better" for each driver -- it all comes down to what your unique insurance profile looks like.

Why do Electric and Vermont Mutual offer me different rates?

Car insurance companies take a look at many different variables when calculating the rates they charge drivers. Factors such as gender, where you call home, your driving record, age, and sometimes even things like your credit score can all be used. Both Electric and Vermont Mutual calculate prices using different variables, so each one will most likely offer different premiums. The only real way to see which carrier is the most affordable for you is by comparing personalized quotes from a bunch of different carriers.

How do I know if Electric or Vermont Mutual is right for me?

The only way to find the auto insurance company that's right for you is by getting quotes from multiple companies and finding the one best suited for your individual budget. Luckily, Compare.com makes it easy for you to do just that. Just enter your ZIP code and you'll get free quotes from dozens of the best insurance carriers in your area. That way, you can guarantee you're getting the best premium. And who knows, the best carrier for you might not be Electric or Vermont Mutual at all!

Methodology

All of the data referenced in this article has been gathered in collaboration with Quadrant Information Services. We analyzed more than 2.5 million rows of carrier-reported data to calculate the average rates referenced above. All rates are based on an insurance profile of a single-vehicle policy for a driver that owns a 2016 Honda Accord. For more information on how we calculate rates, please reference our data methodology.