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Most people know that if they own their own home, townhouse or loft, they are required to take out homeowners insurance. However, it's a common misconception that renters either don't really need to have coverage, or that it simply isn't worth their while to do so. Having your valuable personal belongings and home protected is just as important if you are renting and not buying. Connecticut renters insurance is an affordable and easy way to protect your family and belongings, whether you are a homemaker, a worker or a senior citizen.

Connecticut is one of the more expensive states in which to buy or rent your home, although the annual cost of Connecticut renters insurance is surprisingly affordable. According to statistics provided by the National Association of Insurance Commissioners (NAIC) the average yearly premium amount paid throughout Connecticut is around $197, which works out to be just over $16 every month - the price of a couple of movie tickets.[1] It's a small price to pay for the protection and security that renters insurance will provide for you.

Our site will allow you to get quotes for Connecticut renters insurance from several different companies and easily and quickly compare them. Of course, you are trying to find the lowest cost monthly premium; at the same time, it's also important to get the best coverage that you can for you and your family. One thing you can do when shopping around for insurance is to vary the amount of the deductible; this will give you a more accurate comparison of Connecticut renters insurance rates and can potentially save you up to 30% on your premium.

Why You Need Connecticut Renters Insurance

The main reason to take out Connecticut renters insurance is that it will help to protect your possessions from any theft or damage. However, a good policy also provides protection and peace of mind in several other ways. Even though routine repairs to rental properties are the responsibility of your landlord, the policy will cover you in the event of damage from unexpected events, such as an overflowing toilet, a break-in, or damage caused by severe weather. Your Connecticut renters insurance policy may also protect you from unauthorized credit card charges.

Whereas Connecticut renters insurance is reasonably comprehensive and protects you against financial loss caused by damage from such things as extreme weather, burglary and appliance leaks and explosions, there are some things not covered by your policy. Damage from earthquakes is not covered, although that is unlikely to be a problem in Connecticut. Flood damage is also not covered; nor is any damage caused by illegal, inadequate or shoddy repair work to your house, condo or apartment.

The Connecticut renters insurance policy you choose should cover any damage that you might accidentally cause to the house or condominium that you are renting, as well as any accidents that occur in your rented home. It's easy to see the advantage of this - if a visitor to your home falls and hurts themselves, the renters policy will protect you from any liability. This is known as liability insurance and you generally have the option of paying for different levels of coverage.

Even students in the state should have adequate Connecticut renters insurance. Most students actually own more than they think they do; one way to confirm this is to ask yourself how much it would cost you to replace everything you owned if it were damaged or stolen tomorrow. In addition to protecting your possessions, a good policy will also provide coverage for any temporary accommodation that you may have to live in while your Connecticut home is being repaired or renovated.

How Much Coverage Should You Have?

To determine how much coverage you need, you will have to add up the value of what you own, as best you can. The value should be the cost of the item when you purchased it; in addition, you should also record when you bought each item. Electronic equipment and clothes will have depreciated in value since you bought them; some things such as jewelry may have increased in value. Once your list is complete, it should be kept in a safe place outside your home, ideally in a safety deposit box. The average renters insurance policy in Connecticut is for about $25,000; yours may be more or less, depending on your situation.[2]

Connecticut renters insurance is comprehensive, although you may have some goods and items that are considered to have a limit to their value; this would include securities, firearms and money. And some items are considered to be unique and may be limited in coverage to market value, such as antiques or paintings - you should ask about taking out any special coverage if you own any such items. Watercraft (trailers, furnishings and other equipment.) is also not normally covered under a renters policy or may have a maximum value placed on it.

How To Lower Your Cost

Although the cost of your renters insurance policy is largely determined by the value of goods you are insuring, there are some ways to lower the overall cost. One of the most dramatic differences can be seen by simply changing the amount of the deductible, although the higher your deductible, the higher the amount you will have to pay out in the event of having to make a claim. The lower your deductible, the higher the amount of your annual premium.

You probably have at least one other policy as well - car, health or life. It will almost certainly lower the price of your annual premium if you bundle all of your insurance policies together and take them out with the same company. And if you have had your Connecticut renters insurance for a long time with the same company - several years or more - ask them whether they would consider giving a discount simply for being a good customer. As many fires in Connecticut homes are caused by people smoking, renters may also be able to get a discount for being a non-smoker.

A good credit score is a must when it comes to applying for a mortgage or car loan; it can also get you a discount on your Connecticut renters insurance, as companies routinely assess a customer's risk factor by their credit score. If your landlord hasn't already installed certain security and safety devices in your apartment, house or condominium, you should request him or her to do so; many companies will give a discount to renters who have these features installed. And even the Connecticut neighborhood that you live in and its crime statistics, as well as your distance from the nearest fire station, can affect the cost of your policy.

If you're renting in Connecticut, make sure that you have adequate renters insurance, whether you are in Hartford, New Haven or anywhere else. A good Connecticut renters insurance policy will probably cost you less than going to the movies a month, is easy to buy and will help to protect you and your family. It's something that every Connecticut renter needs to have.

So what are you waiting for? Compare cost and coverage details from the Connecticut cities of: Hartford, Bridgeport, Stamford, Norwalk, New Haven, Milford, Norwich, New London, Torrington, Waterbury, Willimantic and more...



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