A new study of renters insurance in Connecticut shows it’s not the state’s biggest cities that have the highest average renters insurance. Living along the shoreline promises the highest rates.
The study gathered quotes from five major carriers across 37 cities in Connecticut to determine a mean renters insurance rate of $283 for the sample property. The mean rate was then compared to the rates in the individual cities.
The study by Value Penguin, a consumer research firm, said these five Connecticut towns are the most expensive for renters insurance with average cost followed by percentage higher than state average:
- Branford: $335, +18.5 percent
- Milford: $335, +18.2 percent
- Fairfield: $323, +14.2 percent
- East Haven: $320, +13.2 percent
- Greenwich: $317, +11.9 percent
The Connecticut towns with the lowest renters insurance with average cost followed by percentage higher than state average are:
- Torrington: $204, -28.0 percent
- Vernon : $228, -19.4 percent
- Windham: $230, -18.9 percent
- West Hartford: $239, -15.6 percent
- Simsbury: $246, -13.2 percent
For Connecticut residents, the disparity is not as great as in other states. The study found the difference between the most expensive places for renters insurance and the state average are not nearly as extreme as the cheapest. The most expensive municipality in Connecticut was 64 percent higher than the cheapest.
In other states, the difference between the two is much greater. Premiums in the most expensive places of Texas are 74 percent higher than the cheapest and the most expensive in California are more than two times the cheapest.
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