Average car insurance cost in Waterbury, CT

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According to data from Insure.com, the average annual cost of car insurance in Waterbury, Connecticut is $2,147. The auto insurance rates in Waterbury is $422 more than the state average and $252 more than the national average.

Car insurance premiums vary significantly based on where they are filed. Factors such as city demographics, population density and average resident age, accident rates, theft, and vandalism rates will influence the amount of premiums you pay.

This article talks in detail about the most affordable car insurance companies in Waterbury, the average car insurance rates by age and gender, and how much car insurance cost in Waterbury depending on coverage limits. Whether you’re a new driver or an experienced one, this article will help you to find the most affordable car insurance in Waterbury. Keep reading to learn more.

Cheap car insurance companies in Waterbury

Geico provides the best value for car insurance in Waterbury with coverage limits of 100/300/100, costing $1,763 annually.

A close second is Kemper, which offers car insurance at $1,849 per year.

Read about the best car insurance companies.

Average car insurance cost in Waterbury by coverage limits

The average car insurance rates in Waterbury based on coverage types are as follows:

• State minimum coverage: $895 per year (limits are 25/50/25)
• Liability only coverage: $1,015 per year (limits are 50/100/50)
• Full coverage: $2,147 per year (limits are 100/300/100)
• Non-owners coverage: $485 per year

In many states, it’s a legal requirement for drivers to maintain the state minimum coverage, although these requirements vary by state. The state minimum coverage does not cover vehicles listed on your policy in an at-fault accident.

To avoid the risk of insufficient coverage and out-of-pocket expenses, it’s advisable to opt for full coverage or non-owner coverage, especially if you frequently borrow or rent vehicles and don’t own one yourself.

Average car insurance rates by gender in Waterbury

Based on an analysis by Insure.com, female drivers in Waterbury, Connecticut pay an average annual car insurance premium of $2,136. In comparison, male drivers pay $2,158 annually, which is $22 more than what female drivers pay.

According to the Insurance Information Institute, statistics indicate that women are generally considered safer drivers than men. Also, women pay less for car insurance due to the lower rate of severe accidents.

Read more on how gender affects car insurance rates.

Average car insurance rates by age in Waterbury

In Waterbury, teenagers have the highest car insurance rates, at $8,426 per year or $702 per month. This higher rate is attributed to the increased risk of road accidents among teenagers (aged 16 to 19) due to their limited experience on the road, according to the Insurance Information Institute.

However, there are driving laws for teens to improve their driving habits. Additionally, the cost of teen insurance can be reduced by adding them to a parent’s auto insurance policy. As teens mature and establish a positive driving history, their car insurance rates are likely to decrease.

Young adults, pay an average of $3,806 annually for car insurance, which is $4,620 less than what the teens pay for their insurance policy.

Meanwhile, adult, and senior drivers in Waterbury have car insurance rates of $2,155 and $2,250 per year, respectively. The car insurance rates for adults and seniors are lower than those for teens and young adults. “This is because they are more likely to obey the speed limits and follow the rules of the road,” says the Insurance Information Institute.

Read more on auto insurance for seniors.

The table below shows the average annual rates for drivers of different age groups:

Car insurance rate trends in Waterbury

Examining the trends in car insurance rates in Waterbury, Connecticut it was on an downward swing from 2022 to 2023. From 2022 to 2023 rates decrease overall by 2%, or $50.

The table below shows the trend for last four years:

Conclusion

In conclusion, Waterbury’s car insurance rates are higher than the average insurance rates in Connecticut. Drivers in Waterbury can find affordable car insurance options by shopping around and taking advantage of available discounts. Moreover, many car insurance companies offer discounts for customers who purchase multiple policies through the same company.

Sources

• Insurance Information Institute. “What determines the price of my auto insurance policy,” Accessed September 2024.
• Insurance Information Institute. “Auto insurance for teen drivers,” Accessed September 2024.
• Insurance Information Institute. “Senior driving safety and tips,” Accessed September 2024.

Methodology

Insure.com team worked with Quadrant Information Service to get car insurance data. To determine the average premiums, our team of data analysts and expert editors have analyzed 53,409,632 insurance quotes from 170 insurance companies across 34,588 ZIP codes.

The insurance rates are based on a sample profile of a 40-year-old male and female driver with a clean driving record and a good insurance score. Quotes premiums are for a full coverage policy with limits:

• $100,000 bodily injury per person
• $300,000 bodily injury per accident
• $100,000 property damage per accident
• $500 comprehensive and collision deductible

The quoted insurance rates are for comparison purposes, and your individual rates may vary.

Prachi Singh

Contributing Researcher

 

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Prachi is an insurance writer with a master’s degree in business administration. Through her writing, she hopes to help readers make smart and informed decisions about their finances. She loves to travel and write poetry.