Average renters insurance cost in New Haven, CT

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In New Haven, the average cost of renters insurance is $288 annually for $40,000 in personal property, $300,000 in liability and a $1,000 deductible. It is $23 more than the state average of $265 per year.

Renters insurance costs can vary based on the coverage you choose and the amount of liability protection included in your policy. If you’re living in a rental, it’s a smart way to protect your personal belongings from things like fire, smoke, theft, vandalism, and other covered incidents.

Let’s take a look at the cheapest renters insurance options in New Haven.

Key Takeaways

Renters insurance in New Haven costs an average of $288 per year or $24 monthly.
Allstate offers the cheapest renters in New Haven, with a monthly premium of $14.
Renters can save more on insurance by taking advantage of discounts, including those for having a security system or bundling policies.

What is the average cost of renters insurance per month in New Haven?

The average monthly cost of renters insurance in New Haven is $24, which is $2 more than the state average of $22. This rate is for a coverage limit of $40,000 in personal property, $300,000 in liability protection and a $1,000 deductible.

Renters insurance rates vary by city depending on the coverage and the insurance company you choose. For example, renters in New Haven pay $17 monthly for $20,000 in personal property coverage with a $1,000 deductible. If you increase your personal property coverage to $40,000, the cost will rise by $7.

Higher coverage limits are recommended if you own valuable items like jewelry, furniture, and electronics.

How much is renters insurance in New Haven by deductible?

Renters insurance in New Haven costs $219 per year for a $500 deductible and $20,000 in personal property coverage.

Your deductible is the amount you agree to pay before your insurance coverage kicks in. If you increase your deductible limit, your insurance cost will go down. For instance, if the personal property coverage is the same (e.g., $20,000) but you increase your deductible limit from $500 to $1,000, you will pay $18 less every year for insurance.

Below are the renters insurance rates for different personal property coverage and deductible amounts.

Deductible	$20,000 personal property	$40,000 personal property	$60,000 personal property
$500	$219	$315	$408
$1,000	$201	$288	$374

Note: The liability protection coverage is $100,000.

Who offers cheap renters insurance in New Haven?

Your search for the cheapest renters insurance company ends here.

Allstate offers the cheapest renters insurance in New Haven at $166 a year or $14 per month. According to our data, Chubb ranks second on our list followed by Amica.

Below are the average annual and monthly rates of the cheap renters insurance companies in New Haven.

Renter insurance provider	Average annual rate	Average per month rate
Allstate	$166	$14
Chubb	$178	$15
Amica	$196	$16
State Farm	$222	$19
American Family	$369	$31
Farmers	$369	$31
National General	$442	$37
Travelers	$624	$52
USAA	$220	$18

How to lower the cost of renters insurance

Follow these tips to reduce the cost of your renters insurance in New Haven:

Bundle policies. If you have other insurance policies, such as car insurance, consider bundling them with the same company. Many insurers in New Haven provide discounts for bundled policies.

Increase your deductible. A higher deductible can lower your premium in New Haven, but make sure you’re comfortable with the potential out-of-pocket costs if you file a claim.

Choose the right coverage amount. Review your renters insurance policy regularly to ensure you aren’t paying for unnecessary coverage, such as excess personal property coverage if you don’t own many valuables.

Avoid filing too many claims. Filing frequent small claims can increase your rates. It might be worth paying for minor damages out-of-pocket instead of using your insurance.
Compare quotes. Don’t accept the first quote you get. Shop around and compare renters insurance rates from different insurers in New Haven to find the best deal.

Renters in New Haven should purchase renters insurance to protect their belongings and financial health. The cost of coverage varies based on your location, coverage limits and individual circumstances. To find the best deal, evaluate your coverage needs, compare quotes from different providers and take advantage of any available discounts.

Methodology

Insure.com, with the help of Quadrant Information Services, gathered data for renters insurance rates in New Haven in 2023 for $40,000 personal property coverage, $300,000 liability coverage, and a $1,000 deductible. The data presented are those with a good credit tier alignment.

How much is renters insurance in other cities?

Shivani Gite

Contributing Writer

Shivani Gite is a personal finance and insurance writer with a degree in journalism and mass communication. She is passionate about making insurance topics easy to understand for people and helping them make better financial decisions.