Cheapest Homeowners Insurance in Connecticut (2024 Rates)

In Connecticut, insurance rates can vary based on specific needs. For instance, while Farmers offers the best rates for $100K coverage, those seeking $1MM in coverage will find State Farm more affordable. On the other hand, ASI stands out for those with poor credit across different dwelling coverage limits. After analyzing thousands of quotes, MoneyGeek pinpointed the most economical option for Connecticut homes.

Farmers is Connecticut's most affordable home insurance provider, offering a rate of $566 annually for $100K of dwelling coverage. The level of dwelling coverage impacts the cost of home insurance significantly, as higher limits lead to higher premiums.

Here's a concise overview of the most economical options in Connecticut:

• Cheapest for $100,000: Farmers at $566 per year
• Cheapest for $250,000: Farmers at $1,259 per year
• Cheapest for $500,000: State Farm at $2,316 per year

Dive into MoneyGeek's table below to explore the cheapest home insurance providers for different dwelling coverage amounts.

Looking for inexpensive home insurance in Connecticut typically involves gathering quotes from multiple insurers, a task often demanding personal information. Opt for a smoother route with MoneyGeek’s user-friendly home insurance calculator, offering Connecticut quotes without immediate personal data requirements.

For high-value homes in Connecticut, State Farm stands as the most affordable choice, offering a rate of $3,204 annually for $750K in dwelling coverage. Generally, higher-value homes have higher insurance premiums because it requires higher dwelling coverage limits. Here's a brief rundown of the most cost-effective options:

• Cheapest for $750,000: State Farm at $3,204 per year
• Cheapest for $1MM: State Farm at $4,078 per year

It's prudent for homeowners to choose dwelling coverage that mirrors their home's replacement cost rather than the home's value. Explore how home insurance costs vary by dwelling coverage using MoneyGeek's cheap home insurance table.

In Connecticut, Farmers is the cheapest home insurance provider for newly-built homes, offering an average rate of $364 annually for dwelling coverage of $100K. Typically, newer homes in Connecticut are less expensive to insure due to their adherence to modern building regulations, enhanced safety features and lower likelihood of issues associated with aging materials and infrastructure.

Here's a glance at the most economical insurance providers for varying dwelling coverage in Connecticut:

• Cheapest for $100,000: Farmers at $364 per year
• Cheapest for $250,000: Allstate at $560 per year
• Cheapest for $500,000: ASI at $945 per year

Various factors, including the amount of dwelling coverage, can impact the insurance costs for your new home in Connecticut. Explore MoneyGeek's table for a comprehensive understanding of how these costs may fluctuate.

For Connecticut homeowners with poor credit, ASI offers the best rates, with coverage for $100K averaging $1,457 a year. Credit scores play a pivotal role in determining insurance premiums, as they reflect a homeowner's financial reliability. The following are the most cost-effective insurance providers for different levels of dwelling coverage:

• Cheapest for $100,000: ASI at $1,457 per year
• Cheapest for $250,000: ASI at $2,467 per year
• Cheapest for $500,000: ASI at $4,220 per year

For the same dwelling coverage, those with poor credit pay an average of $2,180 more per year for insurance than those with good credit. Look at MoneyGeek's table to understand these variations.

In Connecticut, homeowners with a single claim in the last 5 years can find the cheapest home insurance rates with State Farm, offering a premium of $857 annually for $100K in dwelling coverage. A history of insurance claims can raise insurance premiums because insurers perceive that your risk of making another claim is higher.

Here's a snapshot of the most economical rates for different dwelling coverages:

• Cheapest for $100,000: State Farm at $857 per year
• Cheapest for $250,000: State Farm at $1,622 per year
• Cheapest for $500,000: State Farm at $2,631 per year

A comparison of premiums reveals the financial impact of past claims. For instance, those who purchase $100K in dwelling coverage without any claims pay, on average, less than $293 per year compared to those who buy it with two claims. This underscores the potential savings for Connecticut homeowners by maintaining a pristine claims record.

Your home insurance premiums are greatly affected by the type of construction and roof material of your home. For Connecticut homes with frame construction and shake-treated roofs, Farmers offers the most affordable insurance rate at $706 per year. Here's a rundown of the cheapest options for various coverage values in Colorado:

• Cheapest for $100,000: Farmers at $706 per year
• Cheapest for $250,000: State Farm at $1,428 per year
• Cheapest for $500,000: State Farm at $2,316 per year

Having a home built with higher quality materials can lead to more savings. For instance, a tile roof with superior construction can save you an average of $429 per year compared to a home with frame construction and shake-treated roofs.

In Connecticut, selecting a higher deductible can lead to significant annual savings on home insurance. For a policy with a $2,000 deductible, Farmers offers the most competitive rate at $478 annually. In contrast, the premium for a $500 deductible with Farmers stands at $696.

Here are the most affordable rates for each deductible level:

• $2,000 deductible: Farmers at $478 per year
• $1,500 deductible: Farmers at $566 per year
• $1,000 deductible: Farmers at $566 per year
• $500 deductible: Farmers at $696 per year

It's important to note that the deductible is the amount paid out of pocket before insurance coverage begins. On average, choosing a $2,000 deductible over a $500 deductible results in an annual savings of $304.

In Connecticut, State Farm stands out as the most economical choice for those seeking to bundle home and auto insurance, with premiums averaging $2,163 per year. Generally, combining mulitple policies with the same provider can lead to substantial savings.

• State Farm at $2,163 per year
• Progressive at $3,398 per year

By consolidating your insurance with one provider, you not only save money but also enjoy the ease of managing both policies together. Learn more about the best Connecticut insurance bundle in the table below.

In most Connecticut cities, Farmers emerges as the leading affordable home insurance provider, with premiums as low as $436 annually. Rates can fluctuate based on local factors like crime rates, building regulations and potential weather threats. To illustrate:

• Farmers offers the lowest annual premium in the state, particularly in Stamford city, at $436.
• On the higher end, State Farm provides the most economical rate in New Haven, priced at $820 annually.

Since insurers weigh rates differently across cities, even within the same state, it's essential to compare options for potential savings.