Is gap insurance required in Vermont?

After living for a year in Vermont, I’m definitely in the market for a car with four-wheel or all-wheel drive. I need a loan to get the car, but I’m not sure if I need to purchase gap insurance. Does Vermont legally require gap insurance?

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Answer provided by
Eric Schad
Answered on Jun 15, 2022
The winters in Vermont are nothing short of harsh and make a run for the worst in all of New England. As a result, a four-wheel or all-wheel drive vehicle is definitely a good option. However, gap insurance is not required in Vermont—but it might be a good idea in certain situations.
You should consider gap insurance under these circumstances:
  • You have a car loan that’s 60 months or longer.
  • You made a down payment of less than 20%.
  • You don’t have more than 10% of the car’s value in savings.
  • You rolled over a previous car loan into the new one.
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