As a state that experiences all four seasons, Connecticut sees a range of weather occurrences that can mean harsh winter storms and tropical storms and hurricanes in the summer. The State of Connecticut does not require you to have home insurance coverage. However, if you have a mortgage, your lender will almost certainly require insurance to cover the amount of your loan. Not having homeowners insurance puts you at risk of potential financial ruin in the event of a disaster.
Comparing Connecticut Home Insurance Rates
Your home insurance rates in Connecticut vary from home to home. When an insurance company considers your insurance application, it also performs a risk assessment. Your risk assessment includes the following:
- Replacement cost of your home
- Age of your home
- Type of construction (wood, brick, etc.)
- Your credit rating
In addition to basic home insurance, you can buy other coverage to protect your property. This includes:
- Flood insurance
- Policies that cover jewelry
- Umbrella policies (insurance that protects your future income and assets)
- Animal liability
When you are shopping for a policy, make sure to get more than one quote. The same is true for renewals. Although you can keep your current insurance company if you choose, getting an additional quote to compare can help you make sure you're paying a fair premium.
Weather-related Issues in Connecticut
Winter weather is one concern many homeowners have in Connecticut. Freezing pipes, falling trees, and heavy snow piles can damage your roof. It's a good idea to winterize your property by clearing any loose limbs in trees and insulating your pipes. When experiencing heavy snow, try to clear your roof safely to avoid damage.
A hurricane can also threaten to damage your property in Connecticut. Hurricane season is from June to November. Flooding is a common result of hurricanes or tropical storms hitting certain areas in Connecticut. Flood insurance is recommended if you live in a low-lying coastal area. Wind related damage might also occur as a result of a hurricane hitting your area.
Many insurance agents will also recommend that you create a home inventory. This inventory lists the most valuable and important items in your home that might need to be replaced if your home is damaged. Most people list their televisions, electronics, jewelry, and computers on an inventory. It helps to take photos of each item and write down serial numbers. You can take a copy of this home inventory with you if you have to evacuate your home due to a storm.
If you are concerned about storms taking out your electricity, you can add a generator to your home. Home generators require gas to run and can power many home appliances like your refrigerator or heater if you need them.
Frequently Asked Questions About Connecticut Home Insurance
Many homeowners don't understand the details of their home insurance policy. Some of the frequently asked questions on insurance include:
1. How much of a deductible should a homeowner have?
Deductibles vary depending on the policy you choose. Pick a deductible that you are comfortable with as an out of pocket expense. If you live further inland, a higher deductible is normally fine, as your risk is minimal.
2. How does home insurance cover a fire related loss?
You'll need to make a claim if you have damage or loss due to fire. Your insurance should cover for property loss, both for the dwelling and interior contents.
3. How can valuable items like jewelry or antiques be covered more?
You can have a separate policy that covers jewelry and antiques for their full value.
How to Get Great Rates on Connecticut Home Insurance
Has it been a while since you shopped for homeowner’s insurance? Is so, loyalty doesn’t always pay because prices vary from insurer to insurer. Another company may offer you a much better deal. Looking for home or renter’s insurance quotes? insuranceQuotes.com can help you find the best homeowner’s or renter’s insurance policy at the best price. Every year, we match 15 million consumers to the nation’s biggest home insurance companies, including Allstate, State Farm and Farmers.
Connecticut Home Insurance Resources
CT Insurance Department
A portal for information on the laws and regulations governing insurance in Connecticut