Insurance
Connecticut Homeowners Insurance Calculator: Free Cost Estimator (2024)
Updated: May 22, 2024
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Rates updated:
Jul 26, 2024
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MoneyGeek determined the most affordable homeowners insurance providers in Connecticut to help you find cheap coverage in the state. Based on the findings, ASI is the cheapest in the state for a homeowners insurance policy with a $250,000 baseline dwelling coverage.
Additionally, MoneyGeek compared and found the best homeowners insurance companies in Connecticut for balancing affordability and customer satisfaction to help you get the best service and price available for your needs.
How to Estimate the Cost of Your Homeowners Insurance Policy in Connecticut
When purchasing home insurance, it is vital to note that rates vary significantly for each person because of several factors. These include location, credit score, home value and deductible.
You may determine your cost estimate by providing specific information related to these factors in the following Connecticut home insurance calculator.
Connecticut
The cost of homeowners insurance in Connecticut varies based on where you live. If you are in a location that features numerous fires, thefts and natural disasters, you will most likely pay more for home insurance than those who live in locations with a lower risk of such incidents.
Dwelling Coverage
The dwelling coverage of your policy refers to the amount required to repair or rebuild your home after damage. Your homeowners insurance premium will consider the dwelling coverage you choose for your policy. Typically, the higher the dwelling coverage amount, the higher the policy cost.
The average dwelling coverage amount for Connecticut homeowners insurance policies is $250K.
Deductible
Your home insurance policy’s deductible is the amount you pay out of pocket after filing a claim.
For example, if your policy has $2,000 as the deductible and your claim is worth $15,000, the insurer will only pay $13,000 since you pay $2,000.
Policies with a higher deductible tend to cost less than with a lower deductible.
Liability
The liability part of home insurance covers costs associated with third-party injuries in your home and damage to their property because of your negligence.
Liability coverage pays for legal, medical, property replacement, pain, suffering and death costs.
When purchasing home insurance, ensure you have sufficient liability insurance. A higher liability limit will cost more, but only a few dollars monthly.
Personal Property
Personal property coverage or contents coverage covers the costs associated with loss or damage to your belongings.
MoneyGeek’s calculator below can help you determine how much personal property coverage you require for your belongings.
Credit Score
Insurers consider your credit score when determining your home insurance premium.
They may believe that homeowners with poor credit scores are likelier to file a claim, making them riskier to insure and, therefore, charge a higher rate.
Personal Property Coverage Calculator
When figuring out how much renters insurance you need, experts recommend the standard $100,000 in liability insurance and enough personal property protection to cover your possessions. Use MoneyGeek's calculator to estimate the value of your possessions so you know how much personal property coverage to buy.
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Average Cost of Home Insurance in Connecticut
Connecticut is a lower-priced state for homeowners insurance. The average cost of a policy for a dwelling coverage amount of $250K is $1,918, lower than the national average by almost 21%.
Homeowners interested in a policy with a lower or higher dwelling coverage amount may use the following table to compare average rates in Connecticut for different coverage levels.
Average Annual Premium in Connecticut for Homeowners Insurance
| $100,000 | Average Annual Premium$1,219 |
| $250,000 | Average Annual Premium$1,918 |
| $500,000 | Average Annual Premium$4,507 |
| $750,000 | Average Annual Premium$6,609 |
| $1,000,000 | Average Annual Premium$8,657 |
| $2,000,000 | Average Annual Premium$17,643 |
| $3,000,000 | Average Annual Premium$28,133 |
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Before purchasing homeowners insurance, you need to determine the right dwelling coverage amount for your home. A policy with sufficient dwelling coverage ensures that the cost of rebuilding the home is covered by the insurer after damage.
Home insurance does not cover the land your property is on, meaning you should concentrate on the cost of reconstructing your home after a total loss when choosing dwelling coverage in a homeowners policy.
Insurance companies determine your dwelling coverage based on factors like the square footage and height of your property and the materials used to build it. An appraiser can also review your home to determine the proper replacement cost.
Average Cost of Home Insurance in Connecticut Cities
Connecticut insurance companies charge different rates for home insurance, depending on the city. In the following table, MoneyGeek lists the cities reviewed in Connecticut and their average homeowners insurance costs. You can use the table to compare rates for various locations.
Average Annual Premium in Connecticut Cities for Homeowners Insurance
| Bridgeport | Average Annual Premium ($100K Dwelling Coverage)$1,138 | Average Annual Premium ($250K Dwelling Coverage)$1,814 |
| New Haven | Average Annual Premium ($100K Dwelling Coverage)$1,299 | Average Annual Premium ($250K Dwelling Coverage)$2,583 |
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Nationwide, MoneyGeek found that Allstate is the best homeowners insurance company. It may cost more than others in certain states, but it is worth it for the service given.
To select the best home insurance company in Connecticut for your needs, MoneyGeek has a detailed analysis of the best homeowners insurance providers for common buyer profiles, such as those with expensive homes, those who serve in the military or who want online policy management tools.
Frequently Asked Questions About Home Insurance in Connecticut
How much is homeowners insurance in Connecticut? Rates depend on your unique needs and home. MoneyGeek responded to the common questions about homeowners insurance in Connecticut to help you.
How much does homeowners insurance cost in Connecticut?
Connecticut has an average cost of $1,918 per year for homeowners insurance with $250K dwelling coverage, which is nearly 21% lower than the national average.
How do I know how much dwelling coverage to get?
The baseline dwelling coverage for homeowners insurance in Connecticut is $250,000. You can, however, estimate the right dwelling coverage for your home by establishing the amount of money required to rebuild your home. You can do this through the help of an appraiser, who will calculate the current cost of building materials and labor.
Insurance
Methodology
To determine the average cost of homeowners insurance in Connecticut, MoneyGeek sourced pricing data from Quadrant Information Services.
MoneyGeek chose a standard home profile to provide the most reliable and relevant data for developing a thorough analysis of homeowners insurance.
This standard home profile consists of the following attributes:
- Construction year: 2000
- Construction type: Frame
- Composition roof
- Three-mile radius of a fire department
- Assumed value of other structures on the property: 10% of the dwelling coverage
- Personal property coverage: 40% of the dwelling coverage
- Liability limit: $100,000
- Deductible: $1,000
About Mark Fitzpatrick
Mark Fitzpatrick has analyzed the property and casualty insurance market for over five years, conducting original research and creating personalized content for every kind of buyer. Currently, he leads P&C insurance content production at MoneyGeek. Fitzpatrick has been quoted in several insurance-related publications, including CNBC, NBC News and Mashable.
Fitzpatrick earned a master’s degree in economics and international relations from Johns Hopkins University and a bachelor’s degree from Boston College. He is passionate about using his knowledge of economics and insurance to bring transparency around financial topics and help others feel confident in their money moves.