Home insurance costs in Connecticut 2021

Home insurance costs in Connecticut

 

One of the most fascinating States of America, with century-old houses that speak of history, located into cities with modern lifestyle and all its buzz, lots of green everywhere, watercourses and waterfalls, the seaside, much countryside not far from the urban centers; on top of that you can quite a strong education here, thanks to important colleges and schools, which lead to brilliant careers. In fact, Connecticut is also a wealthy State. You can also easily commute to other near stunning places of the U.S. You call home this State, and for good reasons. And if you want to enjoy at best your life, a crucial thing is keeping your house the safest as possible.

Weather in Connecticut is quite variable. Compared to the East Coast neighbors, it doesn’t face particularly extreme phenomenons, but there are some issues you may want to consider as a homeowner: hurricanes and floods in the coastal areas and snow are the most important hazards. All of them have seasonal cadence.

Your home insurance policy is affected by the relative frequency of these events: we have found the average cost in Connecticut to be $1,196*. Your premium can be near, noticeably higher, or lower, depending on the coverage needed. For instance, you can check rates for ten among the most populous cities, that we got from averaging quotes of major insurance companies: Allstate, Amica, Chubb, Farmers, LibertyMutual, Nationwide, Progressive, StateFarm, Travelers, and USAA.

City Home median value Square ft Premium
Bridgeport
$160,000
1420
$1,325
New Haven
$185,000
1770
$1,295
Stamford
$465,000
1800
$1,610
Hartford
$155,000
1750
$1,070
Waterbury
$245,000
1975
$1,085
Norwalk
$390,000
1600
$1,830
Danbury
$260,000
1350
$1,195
New Britain
$250,000
1985
$1,235
West Hartford
$300,000
1770
$1,185
Bristol
$220,000
1800
$1,045

For every city, we have considered a sample house with the median value for that city; dwelling coverage selected is different for each house, based on (but not the same as) the market value, and is the most adequate for homes replacement cost, which serves to sustain the costs of repairing or rebuilding should damage or loss occur. All houses are equipped with at least 3 beds and 2 bathrooms, regardless of their age, anyway their premiums are for a standard H0-3 policy. As you can see, there is a remarkable difference in premiums between cities, which depends both on the different coverages of samples and the risk factors faced by their location.

Connecticut’s position on the Atlantic Coast exposes it to Nor’easters, cyclones that are especially active from fall to high spring carrying hurricanes, along with heavy rains, floodings, and snow in the cold season. As for homeowners, apart from suffering for possible real damages, there is no big concern because wind is a named peril in a standard policy, so you are covered against it. Any indirect damage, which is definitely likely, like the falling of a tree on the roof, will be under the wing of insurance, as related to ‘wind damage’.

However, some category of winds, that is to say, hurricanes blowing at 74 mph or greater, if detected by the National Weather Service provoking damage to houses, will require a second deductible from your side, typically calculated in percentage of the property covered value, but with a dollar amount specification in the paperwork, not exceeding a 5% within 2,600 feet from the coast; over that distance, a maximum of 2% can be applied. That means if you aren’t a coastal inhabitant, the risk is also present. The deductible (and the insurance settlement) starts kicking in 24 hours after the end of the hurricane, or at its downgrading. This info can be found in details at iii.org, and on the Connecticut Department of Insurance.

You may decide to take some mitigation or preparedness measures: reinforced windows and exterior doors or shutters with hardware (that activate automatically), upgrading roof, and others. This will be good not only for your safety but will do the trick to get cheaper premiums. If you couldn’t get insurance, you may also resort to the Connecticut Fair Plan or the Coastal Market Assistance Program.

Flooding is also an issue as a consequence of heavy rains brought by hurricanes and anyway because of exposure to Atlantic streams. If you reside in proximity to the coast, this is especially true: flood insurance is required since it is almost never a peril covered by a standard homeowners policy. As in the other States, two options are available: a private flood insurance company, who provides flexible coverage limits and rates (on top of your standard policy). But there can be conditions, although it is uncommon, for which you can be denied, then you can rely on the National Flood Insurance Program, which has the benefit to provide assistance independently on your specific situation, coming with more strict coverages and higher than usual rates.

Snowstorms and snow accumulation can be an issue for homeowners in the winter season: your house can be seriously damaged from broken windows, but above all, there is the danger of a roof giving up the weight of ice. So, it must be stressed that a modernized and quality roof is a great investment for your head security and the integrity of your property. A metal roof would be ideal, since it doesn’t absorb snow, but will more easily shrug it, in comparison to other materials; besides, it will resist well against strong winds. To the eyes of insurers, such a roof will mean a less likely to hear a claim, and in turn, you will get a more affordable premium.

 

How can you save on home insurance in Connecticut?

 

The preparedness toward natural phenomenons plays a big role in determining a cheaper premium: if your insurance company comes to know (through the quoting process) that your house is equipped to face the above-mentioned perils, you will get discounts.

Other factors to consider are:

  • Age of the house. In Connecticut, over 50% of the houses are more than forty-years-old, for historic reasons. An older house asks higher insurance costs, basically since repairing or rebuilding it would be more expensive: obsolete materials are hard to replace, plus you mind the architectural value. If you bought such a home because certainly, you liked it, you may find it difficult to obtain a common H0-3, which require some parameters to be satisfied: for instance, doors and windows made of materials prone to catch fire, the presence of an old chimney, the brick type of construction, old plumbing that can burst, a worn-out electrical system are issues met by old houses. You may consider some refurbishment and upgrading over time, in order to be pursuant to the standard policy at renewal.
  • Credit score: your wealth is evaluated by insurers as a good reliance on your own resources so that it’s less likely that you will file a claim in the future. The average score in Connecticut is 717, which is considered as ‘good’; if you have 669 or less expect your premium rates to be higher than average. You can always find ways to improve your credit history.
  • Previous claims: if you are renewing your policy, mind that there haven’t been claims in the last three-five years. Filing request for settlements should be kept to the minimum necessary, since every claim impact more than anything other the amount of a premium.

Protection from property crime is also important: from different official sources we found that this isn’t a special issue for Connecticut, at least compared to other States: burglaries, thefts, and riots can happen anyway, and you can make your house safer by installing devices like cameras, alarms, deadlocks, having a vault, and perhaps others. This is awarded by insurers who may apply discounts to your home policy.

Still, you can do the following the get the best possible rates for your insurance: getting multiple quotes from different companies, bundling home insurance with car insurance, choosing a high deductible, and staying with the same insurer over time (admitted that you were fine with).

Get a thirty seconds estimate of your annual premium with the right coverages for your house, based on the parameters of our calculator. Then, you will be ready to obtain real quotes from the most trustworthy and established insurance companies on the market.

* Methodology: we aggregated and averaged multiple quotes for every city of the State, assuming a 35 years old individual, married, with a good credit score. Our effort is to keep data always updated and the most accurate possible, so as to satisfy at best the consumer’s expectations.