A new study of automotive insurance in the state finds the best rates are going to be along the shore by the Connecticut River. Residents in the biggest cities are paying much more to comply with the state’s no-fault insurance laws.
Hartford, Bridgeport, and New Haven rank as the most expensive locations. The best rates are found in Lyme, Mystic and Old Saybrook, according to figures compiled by ValuePenguin.com, a consumer research and financial products website.
It surveyed 69 Connecticut towns and cities, and established a benchmark average of $2,047 based on two male drivers’ profiles. Depending on where they lived, the annual cost could range from being 15 percent lower in Lyme at $1,737 up to 42 percent higher over the benchmark in Hartford at $2,897.
Here are the 5 most expensive locations with annual cost and percent above the Connecticut average:
- Hartford / $2,897 / 41.5 percent
- Bridgeport / $2,807 / 37.2 percent
- New Haven / $2,774 / 35.5 percent
- Hamden / $2,674 / 30.7 percent
- Stratford / $2,670 / 30.4 percent
Here are the 5 least expensive locations with annual cost and percent below the Connecticut average:
- Lyme / $1,737 / -15.2 percent
- Mystic / $1,738 / -15.1 percent
- Old Saybrook / $1,743 / -14.8 percent
- Essex / $1,744 / -14.8 percent
- Groton / $1,762 / -13.9 percent
