Best Renters Insurance in Connecticut (2024)
Get a quote from Lemonade, the best provider in Connecticut.
As a renter, you deal with the unexpected. A Connecticut renters insurance policy can protect your cherished belongings and give you peace of mind in the face of winter risks, storms, and flooding. Although not required by law in Connecticut, proof of renters insurance is often requested by landlords and property management companies during the process of signing a lease. Whatever your reason for getting renters insurance coverage, it will ensure that you don’ t break the bank in the event of damage to or loss of your covered personal belongings for as little as $5 a month. After assessing the best renters insurance companies available nationwide, the Quartz Reviews Team picked the our choices for Connecticut renters: Lemonade, State Farm, and Liberty Mutual.
5 Best Renters Insurance Companies in Connecticut
Here are the top Connecticut renters insurance providers:
- Lemonade: Best for Easy Coverage
- State Farm: Best for Valuables Coverage
- Liberty Mutual: Best Value
- Allstate: Best for Unique Coverage
- Farmers: Best for Loss of Use Coverage
For this article’s coverage information, our team pulled quotes for a 700-square-foot apartment in Hartford, Connecticut. Your pricing, deductible, and available coverage may vary depending on your home’s size, type, and location, applicable discounts, and your chosen plan and endorsements.
Lemonade
Best for Easy Coverage
State Farm
Best for Valuables Coverage
Liberty Mutual
Best Value
Allstate
Best for Unique Coverage
Farmers
Best for Loss of Use Coverage
What Is the Average Cost of Renters Insurance in Connecticut?
According to the III, Connecticut renters insurance rates are higher compared to other states; it ranks 13th for the most expensive premium. Expect to pay roughly $183 a year, or $15.25 per month, for a Connecticut policy. Here are a few factors that affect your renters insurance cost:
- Your belongings: Providers adjust your monthly or yearly premium based on how much personal property coverage you need. Carefully consider how much you need covered since personal belongings coverage can significantly increase your rate.
- Your deductible: Providers allow you to select your deductible. The deductible you choose can raise or lower your insurance rate.
- Your location: Providers typically charge more if you live in an area at high risk for covered perils, such as wildfires or vandalism. Additionally, the age of your home affects your policy’s cost since the likelihood you file a claim increases with an older home.
- Your pet: The type of pet you own may affect your renters insurance cost. Some pets, such as dogs, may exclude you from coverage if your provider deems your pet to be an aggressive breed. A few dog breeds that insurance companies consider aggressive are Doberman pinschers, German shepherds, pit bulls, and Rottweilers.
What Does Renters Insurance Cover?
Renters insurance provides four types of coverage: liability, loss of use, medical payments to others, and personal property. In addition, each provider may have unique coverage, such as natural disaster coverage. Here is an overview of the four types of renters insurance coverage:
- Liability: Liability coverage covers damage you or your pet cause to someone’s property. For example, legal fees count as a covered loss for liability coverage.
- Loss of use: Loss of use coverage covers living expenses if your home becomes unlivable. Common living expenses include meals and hotel and laundry expenses.
- Medical payments to others: Your renters insurance policy covers the medical bills of anyone who gets hurt inside your home up to your coverage limit.
- Personal property: Personal property coverage protects your belongings inside your home or car. However, most providers won’t cover valuables such as jewelry unless you purchase an endorsement.
What Risks Do Renters in Connecticut Face the Most?
Since Connecticut has a coastline of more than 300 miles and is further north compared to other states, there are several weather risks to consider when shopping for a renters insurance policy. The most common are the following:
- Cold weather: Connecticut experiences harsh winters with lots of snowfall. Heavy snow can lead to water damage to your belongings. Ensure your policy includes water damage.
- Flooding: According to ClimateCheck, Connecticut ranks number five in the nation for flood risk. Most providers offer flood coverage as an endorsement.
- High-speed winds and storms: Connecticut experiences strong winds due to hurricanes and other tropical storms. Some providers, such as Allstate, offer specific tropical cyclone coverage.
Our Conclusion
Whether you live in New Haven or Manchester, a Connecticut renters insurance policy gives you peace of mind that your most important possessions are covered. The Quartz Reviews Team recommends Lemonade for its ease of use. State Farm is a solid pick for those who want additional valuables coverage. Liberty Mutual is worth considering if you prefer affordable basic coverage. We recommend getting quotes from at least three providers before signing up for a policy.
Frequently Asked Questions
Does my renters insurance policy cover my roommate?
No, your renters insurance policy doesn’t cover your roommate or their personal belongings. Typically, your roommate needs their own renters insurance policy to cover their valuables, even if you have a policy and they live in the same home as you.
What is the best renters insurance company in Connecticut?
Our team considers Lemonade to be the best renters insurance company in Connecticut. Lemonade provides customizable coverage, an easy sign-up process, and an intuitive mobile app. Consider your individual needs before choosing an insurance provider.
Is renters insurance tax deductible?
Renters insurance is tax deductible if you use your home to run your business. However, you must establish an area in your home where you conduct business, such as an office or den, to receive tax advantages.
Can I cancel my renters insurance policy?
Yes, you can cancel your renters insurance policy at any time. Some providers charge a cancellation fee of up to 10% of your policy cost. To cancel your policy, contact your provider. It may require you to submit your cancellation in writing before granting your request.
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