Given the frequent occurrence of hurricanes and severe winter weather in Connecticut, it is crucial for residents of the state to prioritize the protection of their homes by securing a high-quality homeowners insurance policy. Read on to learn about the best and cheapest home insurance in Connecticut, along with its cost.
Best Home Insurance in Connecticut
The best home insurance in Connecticut includes the following:
#1. Amica
Amica gives you a choice of different types of coverage and possible discounts that can help you make your insurance fit your needs. But what makes this company stand out is its return on investment option, which can give you back up to 20% of your yearly premium. When you compare Amica’s rates to the Connecticut average, they are usually lower as well.
#2. State Farm
The insurance company has standard plans that cover all the basics, but they also offer a lot of extra protections that you can choose from. These include protections for business property, childcare duty, home structures, identity reconstruction, and service systems. State Farm gives discounts for combining car and home insurance, adding a built-in sprinkler system, not making any claims for a year, and putting on a new roof.
#3. Liberty Mutual
Liberty Mutual has a wide range of insurance products, such as car, home, pet, umbrella, and life insurance. It’s our top pick for homeowners who want to get deals and save money. Liberty Mutual will lower your rates if you insure at least the full value of your home or if you buy new insurance before the old one ends.
The Liberty Mutual website is easy to use and helpful, but our secret shopping showed that getting a price can be hard. Luckily, the company offers live online help if you’re having trouble getting your price.
#4. Farmers
Farmers home insurance plans may include two useful types of insurance: coverage for extended dwellings and coverage for replacement costs. When you buy extended dwelling coverage, you get extra protection for the building of your home. When you buy replacement cost coverage, you get more money back for things that are stolen or damaged.
There are also extras that can save you money that come with some Farmers plans. For instance, if you haven’t made a claim in the last five years, Farmers won’t raise your rate for claim forgiveness.
#5. ASI
It’s not possible to add much coverage to your ASI insurance; the only thing that can be added is a sewer or drain backup. Home insurance coverage from ASI in Connecticut costs about $1,032 a year on average.
ASI is rated as one of the best home insurance companies in Connecticut, even though it doesn’t offer many extra coverages. This was due to the fact that it scored high on cost. It does offer discounts, though, that can help you lower your rate even more. You can get these if you pay your yearly fee in full or pay it online.
#6. Travelers
Travelers offer extra coverage on top of the normal ones you’d expect from a home insurance company. These include coverage for the cost of replacing your belongings, coverage for water damage, coverage for identity theft, coverage for green homes, and special coverage for your personal property. Travelers also offer a number of discounts for people who apply, such as discounts for having more than one policy, buying a home, not making any claims, using safety devices, and building a green home.
#7. Vermont Mutual
This insurance company was established in 1828, and it offers homeowners insurance through a network of local independent agents. According to the National Association of Insurance Commissioners, the company is notable for its exceptional service, as it receives significantly fewer complaints than is typically expected for an insurer of its size.
It is possible to include insurance for major appliances such as hot water heaters, laundry machines, or solar energy systems. There are additional endorsements that you can consider to provide coverage for fraud in your identity, damage to under-the-ground service lines, backup drains, and burglary of expensive jewelry.
You may want to see: BEST CHEAP CAR INSURANCE IN CONNECTICUT FOR 2023
Is Homeowners Insurance Required by Law in Connecticut?
No, homeowners insurance is not legally required in Connecticut, but it is highly likely that your home insurance company will require it as a condition for obtaining a loan.
Cheapest Home Insurance Connecticut
The cheapest home insurance in Connecticut includes the following:
#1. USAA
Among the insurance companies we studied, USAA provides Connecticut homeowners with the cheapest rates on average. However, it is important to note that USAA is exclusively available to active military personnel, veterans, and qualifying household members. USAA offers a range of basic home insurance coverage options for eligible individuals. Additionally, they provide the flexibility to add additional coverage for specific needs, such as home sharing or protection against unpredictable occurrences like earthquakes. Active-duty military personnel have the option to obtain coverage for their uniforms and equipment.
Furthermore, policyholders may be eligible for replacement cost coverage for their contents in various situations. While USAA has a limited number of potential discounts available, its affordable average rates and strong reputation for customer service may compensate for this limitation.
#2. State Farm
This company has one of the cheapest rates on home insurance in Connecticut. The average cost is $1,109 a year, which is 34% less than the state average. The rate at State Farm is already very low, and it doesn’t offer many deals. It includes all of the fundamentals of home insurance, like liability and personal property.
State Farm also has some of the best customer service scores in the state. Customers don’t complain about the company as often as they do about other companies. State Farm offers good customer service and low-cost insurance, which makes it a great choice for most homes.
#3. Allstate
This is also one of the cheapest home insurance options in Connecticut. On average, it costs $1,103 a year, or $92 a month. Allstate has a big discount compared to its competitors if you bundle your home and car insurance. This could lower your total cost even more.
Allstate quotes are less expensive than State Farm’s, but Allstate got much lower marks for customer happiness than State Farm. Also, Allstate has an online price tool, but we were told that we couldn’t use it to get quotes in Connecticut. Instead, we were told to call Allstate to get a quote. People in Connecticut who want to buy Allstate insurance might need to work with an agent.
#4. Travelers
If you want a strong policy, Travelers’ car insurance might be a good choice. If you think the best car insurance company is one that gives you a lot of savings and endorsement options, Travelers might be the right choice for you. There are basic types of coverage, such as liability, accident, personal harm protection, and hospitalization payments. You may also be able to add extra coverage, such as gap insurance, brand-new vehicle replacement, roadside help, and accident redemption. There is also a rideshare service from Travelers, but only in Colorado and Illinois.
#5. Amica
We found that Amica has the best customer service in the state of Connecticut. A home insurance business of its size gets about three times as many customer service complaints as this one does. It is also known for making it quick and easy to file claims.
Amica also gives cheap quotes; on average, their rates are about 20% less than the state average, and they offer a lot of regular discounts. There aren’t many add-ons that can be used to make Amica’s home insurance plans more unique, but the policies do have good general coverage that most homeowners would be happy with.
Home Insurance Connecticut Cost
The average cost of homeowners insurance in Connecticut is $1,244 per year for $250,000 in residing insurance, which is lower than the national average of $1,428 per year. Connecticut homeowners may enjoy lower insurance premiums compared to the national average. This is because many properties in the state have a reduced risk of being affected by major hurricanes, specifically those falling under Categories 3 to 5.
Nevertheless, due to its proximity to the coast, the average cost of home insurance in Connecticut can still be relatively high. Also, the severe winter climate in this state increases the risk of homes experiencing burst pipes due to freezing temperatures or roof damage caused by heavy snowfall.
Factors to Consider Before Buying Homeowners Insurance
The factors to consider before buying homeowners insurance generally include the following:
#1. Home Inventory
A home inventory is a list of the things you own and how much they are worth. Making a home inventory can help you figure out how much personal property insurance you need and make it easier to see what things were damaged after an insured event.
#2. Discounts
There are deals that can help lower your monthly home insurance costs in states like Connecticut, where rates are high. Some common discounts are for bundling your home and car insurance, not making any claims, and having security measures in your house.
#3. Natural Disasters
Storms and floods are the two most prevalent natural disasters in Connecticut. Most home insurance policies cover damage from snow but not damage from floods. If you live in an area that is likely to flood, you might want to get special flood insurance to protect yourself even more.
#4. Endorsements
If the various types of coverage that come with a basic policy aren’t enough to protect you, you can add more coverage through something called an endorsement. Identity theft, water backup, expensive personal property, and the cost of replacing lost or stolen personal property are all things that most companies cover.
Does Homeowners Insurance Cover Wind Damage in Connecticut?
Almost all homeowner’s insurance policies cover wind damage from hurricanes or other storms, regardless of whether the damage is direct or indirect. Storms can cause both direct and indirect damage to your home. Direct damage typically involves the tearing off of shingles or siding due to strong winds. On the other hand, indirect damage may occur when a tree falls and causes harm to your property.
Does Connecticut Require Any Special Homeowners Insurance Policies?
Even though Connecticut law doesn’t require you to have home insurance, you may need more safety than a standard policy gives you. For example, you might need to get personal umbrella insurance to protect your things. Your homeowner’s insurance will not cover this type of damage after the personal responsibility limit has been reached. There are many extras that can be added to home insurance plans from different companies. You can raise your security even more by adding things like identity theft protection, coverage for the cost of replacing your personal property, and coverage for water backup.
What Is the Most Common Home Insurance Coverage?
The HO-3 Special Form policy is the most commonly used type of homeowners insurance. It provides coverage for your home, personal property, liability, extra living expenses, and healthcare payments.
Is It Ok Not to Have Home Insurance?
You are not required by law to have homeowner’s insurance if you own a home. Most of the time, though, people who have a financial stake in your home, like people who hold a mortgage or home equity loan, will want it to be protected.
Does Geico Offer Home Insurance in Connecticut?
Since 1936, GEICO has been providing affordable rates and high-quality insurance protection for a wide range of vehicles and properties, including automobiles, yachts, houses, apartments, and more. Connecticut GEICO Insurance Agents are available to assist you in finding the appropriate coverage that suits your specific needs.
Is Homeowner’s Insurance Expensive in Connecticut?
On average, homeowners insurance in Connecticut costs $1,405 per year, which is less than the national average of $1,820 per year. However, it is wise to consider factors beyond price alone when selecting insurance for your home.
References
- policygenius.com
- bankrate.com
- forbes.com
- nerdwallet.com
