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What type of insurance do you need?
On average, American homeowners pay about $1,211 a year for their home insurance coverage. However, in Connecticut, the average annual cost is significantly higher at $1,690 a year. This can be attributed in part to the relatively high property values in this state.
Homeowners insurance is vitally important because hazards like severe storms, fires, and property crimes can cause expensive losses to Connecticut homeowners who are not insured.
Your home insurance gives you peace of mind if disaster strikes your neighborhood. Whether it's a fire, hurricane, hailstorm, or a rash of burglaries, you can rest assured knowing that your homeowners insurance can be compensate you for your losses.
Here are some of the ways that your home insurance policy can safeguard your finances:
We can’t be 100% certain, but in 2016 alone, insurance companies paid out more than $536 million in home insurance claims just in the state of Connecticut. Those are a lot of unfortunate events happening to Connecticut homeowners.
Homeowners insurance companies calculate their costs based on the value of your property and the likelihood that something bad will happen to it. The more likely it is that a harmful event will occur, the more expensive your home insurance policy will be.
We call these potential disasters "risks” or “exposures.” Let’s take a look at how risky Connecticut is compared to the rest of the country.
The burglary rate in Connecticut is significantly lower than the national average.
Of course, there are still some high-crime areas in this state. If your home is located in one of them, you can take steps to protect your property with preventive measures like deadbolt locks and home security systems. Doing so can often result in reduced prices on your homeowners insurance.
Residents of Connecticut are susceptible to occasional severe weather events, particularly during hurricane season when damaging storms can strike along the Atlantic coast.
Be sure that your home insurance provides all the coverage you need to fully rebuild and replace your property in the event that a major disaster, like a fire, damages your house.
Keep in mind that while homeowners insurance covers against hurricanes and storms, it will not cover flood damage even if the flood is the direct result of these storms. Fortunately, a local independent agent can help you supplement your home insurance with an affordable flood insurance policy through the National Flood Insurance Program (NFIP) so that you are fully covered.
The size and value your home will play a large role in how much your home insurance costs. In Connecticut, the average home value is much higher than the national average.
You will want to be certain that your policy’s dwelling coverage is high enough to enable you to rebuild a house of comparable size in the even that your house is completely destroyed by a disaster like a hurricane or a fire.
When it comes to homeowners insurance, there is no single insurance company that is “best” for everyone.
The policy that provides the best value to you may not be the most ideal choice for your neighbor. That is why independent agents compare policies and rates from multiple companies to find you the coverage that is best able to meet your specific needs.
Yes! There are currently 278 independent insurance agencies in Connecticut who are ready to help.
Independent insurance agents work for you, not for a particular insurance company so they can work with several different providers to find you the coverage you need at the most competitive price. That way, you can be sure that you are not overpaying for your coverage.
Talk to an independent insurance agent near you to get started.
National average burglary rate 4.69 per 1,000 homes
National average home value $188,900
National average home insurance cost $1,173 year
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