Renters Insurance Connecticut

Making it easy to find the best renters insurance in Connecticut

Finding the Best Renters Insurance in Connecticut

Millions of people across the United States live in rented homes, and Connecticut is no exception. If you’re a renter in Connecticut, you might be wondering whether renters insurance is right for you — whether you need it and whether it’s worth it. The first thing you should consider is what do you stand to gain from rental insurance. While many landlords insure their properties, the policies they take out are likely to focus solely on protecting their investment, i.e. the building’s structure, interior, and common areas, fixtures, and fittings. This kind of insurance won’t protect you or your personal belongings, so you should be considering the financial consequences of replacing your most valuable possessions, finding alternate housing, or paying for damages if found liable for something that happens in or to the building. Can you afford all this? If you answered no, then you should seriously consider renters insurance. Renters insurance in Connecticut covers all the above and more and ensures you come out unscathed should the worst happen. To most insured renters, it’s this simple peace of mind that makes their policy worth its weight in gold. If you’re worried about the cost of renters insurance in Connecticut or that you won’t be able to find a plan that meets both your budget and your needs, we’re here to help.

A Quick Glance at Renters Insurance in Connecticut

Coming in as the 15th most expensive state in America for renters insurance, renters in Connecticut are paying slightly more than the national average for their insurance. On top of that, a significant number of Connecticuters are spending well above the recommended 30% of their income on rent, which may be the reason why many choose to forgo this wise investment. The average price of renters insurance in Connecticut works out to around $196 for annual premiums and $16 for monthly premiums. While renters insurance prices for many cities in the Constitution State are fairly consistent, some renters wind up paying more or less than the state average. For example, renters in West Haven pay roughly 35% more compared to residents in other cities, making it the most expensive city for renters insurance in Connecticut, while residents in Torrington pay just shy of 4% less than the state average, making it the cheapest city. However, it’s worth pointing out that even though renters insurance prices may vary by city, insurance providers take into account plenty of other things when pricing quotes. So, to ensure you get the best and most affordable deal on your insurance while still meeting your coverage requirements, it’s essential that you look at the bigger picture and shop around.

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Is Renters Insurance Required in Connecticut

The short answer is no; renters in Connecticut aren’t required by law to take out a renters insurance policy and are free to do so at their discretion. However, many landlords nowadays require their tenants to carry valid renters insurance, and a clause on renters insurance has even become somewhat of a standard on modern lease agreements. Even though it’s not a legal requirement and your landlord might not require you to purchase it, carrying renters insurance is still a good idea. Renters in Connecticut are entitled to withhold rent and have the right to “repair and deduct” if a landlord refuses to make any necessary repairs; however, this doesn’t cover damage to your possessions. For example, if a pipe bursts in your living room and ruins your TV, your landlord will only be responsible for fixing the pipe, and you’ll be left shouldering the costs for a replacement TV — which can be significantly higher than a month’s, or even a year’s worth of renters insurance. Renters insurance protects your personal belongings, liability, and any additional living costs in cases like this, so unless you’re happy to take your chances with damages, it’s definitely worth it in the long run.

How Much is Renters Insurance in Connecticut

As shown in the below table, the price for renters insurance in Connecticut tends to vary from city to city. However, that’s not to say that your location is the main factor insurance companies consider when pricing your insurance plan. No matter which side of the Connecticut river you live on, renters insurance providers price their insurance plans and issue quotes based on more than just location, and factors like your credit history are more likely to affect the final price you’ll be paying than the city you live in. In any case, the information we’ve gathered below should help give you at least a rough idea of what renters can expect to pay in different cities throughout Connecticut, but it’s important to give more weight to other factors within your control, such as the value of your personal possessions and the amount of coverage you want when looking for the best deals on renters insurance in Connecticut.

What Does Renters Insurance Cover in Connecticut

Renters insurance in Connecticut essentially covers three things: your personal belongings, loss of use of the property, and personal liability. Coverage for your personal belongings can be further broken down into two types, actual value and replacement cost. While both actual value and replacement cost offer coverage up to a specified limit, actual cost coverage takes the current market value of any belongings listed in the claim into consideration, while replacement cost doesn’t. For instance, say you purchased a laptop that set you back $1,000 four years ago and lost it in a fire last week. Having actual value coverage would mean that your insurance company will only cover what it deems to be the laptop’s current market value after factoring in depreciation, while replacement cost coverage will compensate you for its full cost. Loss of use coverage protects you against any additional living expenses if your home is rendered uninhabitable after a covered event and includes coverage for things like hotel or motel bills until you can move back into your home. Last but not least, renters insurance companies in Connecticut will cover at least $100,000 in personal liability damages should you be found liable for building damage or if someone is injured while inside your home. All of this is included as standard coverage provided by practically all renters insurance companies, though if you live in an area prone to severe weather, like flooding or tornadoes, then you might want to consider purchasing additional coverage.
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Best Renters Insurance Companies in Connecticut Based on Consumer Ratings

Renters looking for the best renters insurance in Connecticut have a range of resources available at their disposal. Some of the best ones include JD Power Renters surveys and the NAIC Complaint Index. The Connecticut JD Power Renter Survey condenses information received from other renters about insurance companies, coverage and pricing options, and customer support into an easily digestible overall customer satisfaction rating. On the other hand, the NAIC Complaint Index takes a more analytical approach and compares how many complaints a company should receive relative to its size, represented by the number 1.00, to how many it actually receives. We’d recommend reviewing both these ratings before delving deeper into what a company has to offer. In terms of the insurance companies themselves, State Farm has been one of America’s top-rated insurance providers for over 50 years, and this is reflected in both its JD Power rating, scoring a XX {JD Power Rating State Farm Connecticut} out of 5, and it’s low NAIC complaint index of just 0.38. In terms of highs and lows, XXX scored the highest JD Power Rating in the state with a XX out of 5, while XXX came in last with a XX out of 5. State Farm had the lowest NAIC complaint index at 0.38, while Allstate had the highest at 0.76. To help you better decide on the best renters insurance company for your needs, we’ve laid out important ratings for some of the leading renter's insurance companies in Colorado in the table below.

Compare Renters Insurance in Connecticut for the Best Rates

With all of the above in mind, you should, by now, have a clearer picture of what you're looking for. The next step would be to set out and begin comparing quotes and prices on renters insurance in your area. Grab as many quotes as you can from different insurance providers and compare what they offer and their prices for renters insurance in Connecticut. To ensure you're benefiting from the best rates possible, don't forget to look into any discounts you may be eligible for. For example, many insurance companies offer bundle deals for clients who take out multiple insurance policies, like car and renters insurance, with them, so approaching any insurance companies you're already insured with is a great start. Additionally, most insurers offer no-claims discounts to people who haven't made an at-fault claim for a certain amount of time, and some will even offer discounts for clients who pay their premiums in advance each year or referral discounts for clients referred by friends or family. There are loads of different ways to save on your renter's insurance in Connecticut, too many to list here, so don't be shy about talking to an insurance agent to find out more about whether you or a family member is eligible for a discount.