More on Home Insurance
More on Home Insurance
Everything you need to know about the cost of homeowners insurance by company and city, the state’s best insurance companies, and top-of-mind coverage considerations for Connecticut homeowners.
Homeowners in Connecticut will want to be extra diligent when setting up their homeowners insurance policies. The Constitution State experiences all four seasons, making homes susceptible to everything from snowstorms to strong coastal winds to frozen pipes and water damage. Connecticut homes are particularly exposed to catastrophic storms — it’s the third smallest state but ranks 14th in the number of homes at risk of damage from hurricane storm surges.
In the event your home suffers extensive damage or a total loss, you’ll want to be sure you have enough coverage to reimburse you for a complete rebuild of the home so that you’re not left paying for any gaps in coverage out of your own wallet.
You’ll also want to look into additional coverages, or endorsements that complement the six basic protections in every standard home insurance policy. If you live in an older East Coast colonial-style home and have older plumbing, you may want to consider a water backup coverage endorsement to cover your home and personal belongings from unexpected water backups and plumbing accidents.
For more information about how much homeowners insurance in Connecticut costs; reviews of the state’s top ten companies by market share; and a briefer on homeowners insurance considerations in Connecticut, check out our guide below.
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Connecticut is a coastal state that’s expensive to build in, so homeowners insurance is pricier than in most states around the country. With a $1,455 average annual premium, Connecticut is the 8th most expensive state to insure your home, according to the Insurance Information Institute.
When setting your rates, homeowners insurance companies will consider the following for Connecticut homeowners, among other factors:
Below is the average quoted premium with Policygenius for six insurance companies in Connecticut. Nationwide quoted the highest premiums, while Stillwater quoted the lowest premiums across the state.
|Insurance company||Average homeowners insurance rate|
Here’s a city-by-city breakdown of how much you can expect to pay for homeowners insurance in locales throughout Connecticut, according to home insurance quotes submitted with Policygenius. Keep in mind that the following is merely an average of properties that Policygenius has quoted and the sample size for certain cities is larger than others.
As you can see, homes on the coast — like East Lyme, Easton, and Branford — are among the most expensive areas to insure your home in Connecticut. Windsor, a northern suburb of Hartford (not on the coast) also registered high premiums according to our data. But it’s worth noting that the quote was only for a single property across multiple carriers.
|City||Average homeowners insurance rate||City||Average homeowners insurance rate|
|Beacon Falls||$2,370||New Haven||$2,275|
Connecticut's climate and geography creates prime conditions for both intense winter storms and coastal storms. The likelihood that you’ll be using your insurance and filing a claim is probably higher than inland states that are less prone to severe weather.
When selecting a homeowners insurance policy, you’ll want to look at far more than simply the cost of coverage. Consider the insurer’s financial standing with credit agencies like A.M. Best, customer service and claims ratings with J.D. Power, and the price for the level of coverage you’re getting, amongst other factors. Companies that offer additional home rebuild protection like extended replacement or guaranteed replacement cost (increases your dwelling coverage limit if your policy’s limit of liability isn’t high enough) will offer more peace of mind for homeowners on the coast than a company that only has standard replacement cost coverage provisions.
The table below looks at the 10 most popular insurers (companies with the highest market share) in the Constitution State, along with respective A.M. Best ratings, J.D. Power ratings, and Policygenius full-scale company ratings. Here’s more information about the Policygenius home insurance reviews methodology.
➞ And be sure to check out our guide on the best homeowners insurance companies in the country
As we mentioned earlier, Connecticut is 14th out of 50 states in the number of homes that are exposed to Category 1 through 5 hurricanes. The state is also 12th in the total reconstruction value of homes at risk of catastrophic coastal storm damage.
Like most states along the Atlantic coast, homeowners insurance companies require a separate hurricane deductible in the event that your home is damaged by hurricane winds. Unlike dollar amount deductibles that you pay in the event of a theft or fire claim, hurricane deductibles are typically listed as a percentage (typically 1–5%) of your homes insured value, or dwelling coverage amount. That means if your home is insured for $300,000 and your hurricane deductible is 2%, you’d pay $6,000 out of pocket before you’d be reimbursed for the remainder of the hurricane claim.
Similar to dollar amount deductibles, the higher deductible you choose, the lower your premiums will be. Companies may even give you the option to leave off the hurricane deductible entirely for a lower premium — we don’t suggest doing that but it’s up to your discretion.
Keep in mind that your homeowners insurance will reimburse you for wind damage and wind-driven rain that damages your home and personal belongings, but it won’t cover flood damage. There’s a misconception that having “hurricane coverage” — aka a hurricane deductible — will cover all aspects of a hurricane, including flooding during the storm surge. It won’t.
You’ll need separate flood insurance either in the form of an endorsement to your home insurance, a standalone private flood policy, or a government flood policy serviced by the National Flood Insurance Program. The company insuring your home will most likely offer at least one of those options or will be able to point you toward a carrier that offers sufficient flood protection.
If you’re having a hard time finding homeowners insurance coverage on the private market — either because your credit is bad, your home is in bad shape, or you have a frequent loss history — you can get covered through a Connecticut Fair Access to Insurance Requirements, or FAIR Plan. Connecticut FAIR Plans are typically more expensive than private insurance and only provide basic bare-bones coverage with “actual cash value” reimbursement terms, meaning you’ll only be reimbursed for the depreciated value of the damaged structure or property.
Not where you live? We've got you covered, check out our guide to homeowners insurance in your state
About the author
Pat Howard is an Insurance Editor at Policygenius in New York City, specializing in homeowners insurance. He has been featured on Property Casualty 360, MSN, and more. Pat has a B.A. in journalism from Michigan State University.
Policygenius’ editorial content is not written by an insurance agent. It’s intended for informational purposes and should not be considered legal or financial advice. Consult a professional to learn what financial products are right for you.
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