You’ve signed the papers and closed the deal on a new home. Congratulations! You’re an official homeowner — maybe nestled along the beautiful coastline in Westbrook or tucked in the tranquil Candlewood Lake area. Wherever you may find yourself in Connecticut, you’re going to need a robust homeowners insurance policy to protect your investment.

We cast our net wide to find the best homeowners insurance company in Connecticut — ones that were reliable, friendly, easy to work with, and financially sound. Our top picks nailed it across the board.

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The Best Homeowners Insurance in Connecticut

Freshome’s Recommendations: AmicaLiberty MutualState FarmAllstateChubbFarmersNationwide

After spending time and money finding your dream home, you’re probably determined to select the best homeowners insurance in Connecticut. With dozens of companies to choose from, how do you narrow it down? We’ve pulled sample quotes from three of our top-rated choices and provided financial strength ratings for various others to show you the range of options you have for protecting your home.

In order to obtain a quote, we needed a home and a homeowner. We said we’re a family of four looking for $200,000 worth of coverage on a new, two-story, 1500-square-foot framed townhouse in Glastonbury, with an HO3 policy.

HO3 policies have been the most popular policy for decades. This is a hybrid policy that allows for both open perils and named perils. A peril is a disaster or event that causes damage to your home and/or property, such as fire damage, burglary, and wind storm damage. Under an HO3 open perils policy, any kind of damage done to your home that is not specifically excluded in your policy will be covered.

With an HO3 policy, your personal belongings are covered under a named perils policy, which means they are not covered if they are damaged by anything outside of the list of named perils.

Financial strength ratings are just as important to consider as the price point when seeking a sample quote. J.D. Power, A.M. Best, Moody’s, and Standard & Poor’s are the top guns for providing you with legitimate financial strength information on the companies you are comparing. These companies analyze overall customer satisfaction, claims, pricing, billing and payment, and ease of contact. In order for us to recommend an insurance company, it had to have a rating of three stars or more from J.D. Power, an A.M. Best Financial Strength Rating of B+ or more, and a high financial strength rating from Moody’s and/or Standard & Poor’s.

Our Quotes
Amica$494 per year
State Farm$587 per year
Liberty Mutual$960 per year

Amica provided the most inexpensive pricing. J.D. Power awarded Amica the best homeowners insurance company in 2015. It received five stars in all categories and received top ratings from the other respective ratings services. This means that not only is the price budget-friendly, but also the company will be exceptional to work in the event you need to make a claim.

Keep in mind that these are sample quotes for one area in Connecticut and not the state as a whole. Quotes fluctuate due to different factors such as location, amount of coverage needed, and the age of the home.

What You Should Know Before Getting a Quote

We’ve touched on the basics of what a homeowners insurance policy consists of. But, there is much more to dive into before sitting down to get a quote. What information do you need to have on hand? Are there any special requirements Connecticut has in regards to coverage? Is there other coverage to consider? If I run a business out of my home, do I need additional coverage? We’ll tackle these questions below.

Types of Coverage to Consider

The house you want your children to call home is a lovely white cottage on the coast in New London. While securing an HO3 policy will assure your home is covered in many circumstances (including wind damage due to a tropical storm or extreme weather conditions that could arise from living near the ocean), it does not cover damages from flooding. To ensure your home is completely covered, you must purchase an additional flood insurance policy. Curious if your home is located in a floodplain? Check out this helpful map from FEMA.

There are additional add-ons you should discuss with your agent when diving into the nitty gritty aspects of insuring your home and belongings. Have you invested in a freezer full of meat? Do you own multiple generations of antique furniture and jewelry? It may be wise to ask your homeowners insurance company for additional coverage. If it’s your belongings that you’re worried about, it may be wise to look into a HO5 policy, which places your belongings on an open perils policy.

Lastly, the amount of liability coverage you have on your home should be considered. Liability can save you from lawsuits involving damages caused by you or your family members. If your dog wanders into your neighbor’s yard and destroys thousands of dollars of landscaping, you are covered. This part of your policy usually covers up to $100,000 worth of damage.

Compare Homeowners Insurance Rates

To quickly find and compare rates in your area, enter your ZIP code below.

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What to Expect When Getting a Quote

In order to obtain a sample quote, you must have certain information on hand to assure you are given the correct estimate. We’ve put together a checklist that outlines most of the information you will be asked for when gathering a quote:

  • Square footage of house
  • Number of levels, bedrooms, and bathrooms
  • Construction details of base and structure
  • Fire and burglar alarm details
  • Age of home, and if home has been insured in the past if you are not the first-time owners
  • Distance to local fire station and fire hydrant from home
  • Detached or attached garage/structures
  • Amount of wood-burning stoves, if any
  • Home renovations that have been made on the home in past
  • Details on home insurance claims made within the last five years

You’ll also want an itemized list of your personal belongings handy when consulting with an agent. Appraisals are recommended on antique and high-end items, as they can help ensure you’re given a fair quote.

However, some of these items may be excluded. “Ask if you have enough coverage for your valuable items, like fine art, or an expensive piece of jewelry. These may not be covered under a typical homeowners policy; it would come in the form of additional coverage added on to a policy (an endorsement or a rider),” suggested Sperry Mylott, Director of Communications for Travelers Insurance.

Connecticut Laws and Regulations

As in most states, homeowners insurance is not required by law in Connecticut. However, lenders usually always require you to be insured for at least the amount you have taken out on loan. Check with your loan provider for more information.

Why Are Connecticut Rates So Average?

The national average for homeowners insurance is $952 per year. This average fluctuates yearly as insurance companies must charge more to accommodate for an unexpected amount of claims. In Connecticut, the average cost of homeowners insurance is $1,129 annually, which is 12 percent above the average. Natural disasters in the area can account for a slightly higher-than-average rate. Expect to do research on the ZIP code your home is in, as coastal homes and flood zones will cause your price to significantly increase.

“Across a state — especially a small one like Connecticut — there aren’t any specific factors that impact all or even a significant percentage of the rates in that state. The reason is that factors for one small area can be drastically different from another nearby area, but there are only so many differences between one side of a place like Connecticut and another,” said Michael Thrasher, a research analyst with Value Penguin.

FAQs

What are common coverage gaps?

As discussed above, flood insurance is not covered in a standard HO3 policy. Over 30 percent of claims related to flood damages are from low-risk flood areas. We suggest going over options for flood insurance with your agent, as you may qualify for a lower rate if you are in an area that has little-to-no risk of flooding. Other natural disasters, such as earthquakes and hurricanes, are not covered in your standard HO3 policy.

How will your credit score affect your premium?

Insurance companies use your credit score to assign you an insurance score, which helps agents predict the likelihood of a customer filing a claim. If you have a high credit score, your premium will be lower.

What other kind of things will cause my premium to go up?

There are various factors that would contribute to a rise in your premium. A few common ones are:

  • You run a business or child-care service in your home
  • Past homeowners insurance claims have been made within the last five years
  • Multiple pets or families living in the home
  • There was no prior insurance on the home
  • Your home is more than five miles from a fire department and more than 1,000 feet from a fire hydrant
  • Your insurance company ran at a loss the previous year due to an overestimated amount of claims made

Some of the companies you suggested have terrible reviews online. What should I believe?

“In our experience, insurance company reviews are a lot like restaurant reviews — many who take the time to do it have something negative to say,” Thrasher pointed out. And we agree. Financial ratings are your friend. Angry customers flooding the forums are not. Use the financial ratings companies we suggested to make a sound, informed decision. Thrasher also suggested researching local companies that aren’t directly on your radar as those who don’t have a big, national presence may offer better rates.

Take Action

We’ve gone into detail on various types of coverage, what to expect when gathering a quote, and what you should look for in an insurance company. Now, it’s up to you. We suggest seeking a quote from a variety of companies to find the best coverage for your home.

Freshome’s Recommendations: AmicaLiberty MutualState FarmAllstateChubbFarmersNationwide

Compare Homeowners Insurance Rates

To quickly find and compare rates in your area, enter your ZIP code below.

Enter Your ZIP Code:

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