The best Connecticut home insurance companies of 2021

Whether you’re a first-time homeowner, or have owned a property for many years, it’s undeniable that owning your home has its perks. Being a homeowner comes with a number of benefits you don’t have as a renter, such as greater flexibility, higher cost savings and more privacy. But owning a home comes with added responsibilities, like purchasing homeowners insurance to protect your property from damage and theft.

a boat is docked next to a body of water: Connecticut-Homeowners-Insurance-cropped © Stephen Saks / Getty Images Connecticut-Homeowners-Insurance-cropped

In Connecticut, the rate of homeownership is about 65.8 percent, which is slightly higher than the United States average of 63.9 percent. However, the median property value for a home in the state is about $277,400, a significant jump from the national average of $266,104. To protect their investment, residents should purchase the best homeowners insurance in CT. to cover their property and personal belongings in the event of damage or destruction.

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When shopping for CT homeowners insurance, it’s important to consider the value of your home, the value of your personal belongings, any additional coverages you need, your coverage limits and your deductible. These factors will determine how much you’ll pay in annual premiums.

Best home insurance in companies in Connecticut

There are a number of home insurance Connecticut companies. To help you find the best one for your needs, we reviewed the top-rated Connecticut homeowners insurance providers from J.D. Power 2020 U.S. Home Insurance Study and focused on price, coverage offerings, discounts and customer service.

Home insurance company Average annual premium for $250K dwelling J.D. Power & Associates customer satisfaction score
American Family $2,023 821/1000
Amica $1,023 853/1000
Farmers $1,102 814/1000
State Farm $819 829/1000
USAA $1,080 889/1000

American Family

American Family is a reliable homeowners insurance provider that is ideal for homeowners who want to bundle their policies to save money. It has optional coverages including equipment breakdown, sump pump and credit theft protection that allow you to customize your policy for your own needs. This company also has other coverage options including life, auto, farm, travel, business and flood insurance.

Amica

Amica consistently places at the top of listings for customer satisfaction, and is in second place in J.D. Power’s 2020 Home Insurance Study with 853 points for overall satisfaction, price and customer service. As a mutual company, Amica is able to offer dividend policies, where you can choose to receive a check each year for up to 20% of your premium payment. Amica also offers other insurance types such as auto, life, renters, small business and special event coverage.

Farmers

Of the providers on our list, Farmers offers the best discounts to help you save money on your annual homeowners insurance premium. We like Farmers’ flexibility, which includes three tiers of coverage options: standard, enhanced and premier – the latter of which offers guaranteed replacement cost coverage and more. Farmers has a variety of other insurance types such as auto, life, recreational, pet, renters, business and landlord.

State Farm

The largest insurance company in the U.S., State Farm is well-known for offering a wide variety of coverage options at an affordable price. Discounts are available for bundling policies, installing home alert protection devices and using impact-resistant roofing products. This company offers insurance policies for businesses and cars and other vehicles like boats and motorcycles.

USAA

Like Amica, USAA is always at the top of consumer watchdog agency listings, and its reputation for great customer service is unmatched. The catch is that the company only sells policies to members of the military, veterans and their families. If you fit this demographic, USAA should be your first stop for their comprehensive coverage options and affordable rates. The company’s online community is also a great asset and source of information focused on military matters.

Average homeowners insurance cost in Connecticut

In Connecticut, the average cost of homeowners insurance is $1,076 per year, which is $401 less than the national average of $1,477.

Buying homeowners insurance in Connecticut can be expensive because the state is located on the coast. Homes near the coast tend to be more susceptible to damage from wind, rain and hurricanes, which could cause flooding. Additionally, Connecticut’s snowy winter climate can also increase the risk of cold-weather home damage, such as burst pipes or roof damage from heavy snow.

Home insurance coverage options in Connecticut

If you’re buying home insurance CT, there are a few types of coverage you should know about:

  • Dwelling coverage: Dwelling coverage pays to repair your home and certain detached structures in the event of covered damage.
  • Personal property coverage: Personal property coverage protects the valuables inside your home from damage or theft.
  • Liability protection: Liability protection offers coverage in the event that someone on your property gets injured, or if you cause damage to another person’s property.
  • Guest medical protection: Guest medical protection specifically covers medical costs if someone on your property gets hurt.

In addition to these basic coverages, Connecticut homeowners should also consider getting flood insurance, especially for homes on the immediate coastline. Floods are not considered to be a covered peril under most insurance policies, so you’ll have to purchase a separate policy. You can use FEMA’s flood map to determine if your home is located in a high-risk flood zone.

Common causes of home insurance losses in Connecticut

Although unlikely, it’s possible that your home could be damaged by weather, fire, theft or other situations, so having homeowners insurance ensures that you don’t have to pay fully out-of-pocket to repair damages or replace lost items. Specifically, Connecticut homeowners are at an increased risk of:

  • Snow and ice, which can cause roof damage
  • Property damage from downed trees that can fall on your home or other structures
  • Wind damage, from hurricanes and thunderstorms
  • Flood damage, from rising sea levels and coastal rain

When shopping for homeowners insurance, make sure that your provider offers coverage for the most likely scenarios that could damage your home. It’s also important that you have enough coverage to pay for the damages without having to dip into out-of-pocket costs.

Frequently asked questions

What is the cheapest homeowners insurance in Connecticut?

The cheapest homeowners insurance CT is different for every person. Your annual premium is based on a number of factors, including the age of your home, the size of the home, where it’s located, the building materials used and more.

How do I get homeowners insurance in Connecticut?

Before purchasing homeowners insurance, it’s a good idea to get your home appraised. That will give you an idea of what your home is worth and what it would cost to replace the home. To get an insurance quote, apply online with any of the providers we included on our list, or find a company that can best suit your needs and budget.

Is homeowners insurance required in Connecticut?

No, homeowners insurance isn’t legally required in any state. However, if you have a mortgage on your home, the lender may require that you have a minimum amount of insurance coverage.

What is covered under my homeowners insurance policy?

Most homeowners insurance policies cover damage to your home, structures on your property, the personal belongings in your home and liability for anyone injured on your property. Keep in mind that some damages are not covered under basic policies, like earthquake and flood damage, and you will need additional policies to cover those perils.

Methodology

Bankrate utilizes Quadrant Information Services to analyze rates for all ZIP codes and carriers in all 50 states and Washington, D.C. Quoted rates are based on 40-year-old male and female homeowners with a clean claim history, good credit and the following coverage limits:

  • Coverage A, Dwelling: $250,000
  • Coverage B, Other Structures: $25,000
  • Coverage C, Personal Property: $125,000
  • Coverage D, Loss of Use: $50,000
  • Coverage E, Liability: $300,000
  • Coverage F, Medical Payments: $1,000

The homeowners also have a $1,000 deductible and a separate wind and hail deductible (if required).

These are sample rates and should be used for comparative purposes only. Your quotes may be different.



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