Best Homeowners Insurance Agencies in New Britain

Frequently Asked Questions

• Introduction

  Homeowners' insurance is a type of property insurance used by private property owners to protect their home and property from a range of risks and liabilities. It is also called home insurance.
  

  
  

  All homeowners' insurance policies cover the primary home on a property, meaning that most damage from weather, accidents, vandalism, and other events will be at least partially paid for by the insurance company. Many policies also include coverage for other structures, personal property, and some premises liability.

  
  

  It is not required by law that a homeowner purchases insurance for their property. However, if you have a mortgage, the lender will usually make purchasing a homeowners' policy a mandatory part of the loan process. Since the mortgage lender is essentially selling you the home, they require you to protect the investment.
  

• How much does New Britain homeowners’ insurance cost?

  Homeowners’ insurance policies in New Britain with a dwelling coverage level of $250,000 cost an average of $1,104 per year. This is lower than both the national average annual premium of $1,428 and Idaho’s average of $1,244. In contrast, cities in the state with the most expensive homeowners’ insurance include Ledyard, North Branford, Orange, Centerbrook, and Killingworth.

• Have New Britain homeowners’ insurance rates increased?

  The Connecticut Insurance Department’s Property & Casualty Division has allowed homeowners’ insurance rates in New Britain to increase by an average of 5.1% in 2022. Because the average increase requested was 6.1%, the division successfully saved homeowners $13,783,731. In contrast, the average requested increase in 2021 was 4.20% and the allowed increase was 3.40%.

• Does New Britain homeowners’ insurance cover faulty construction?

  Most homeowners’ insurance policies in New Britain do not cover structural collapse due to faulty construction, as was the case with hundreds of eastern Connecticut homeowners whose foundations crumbled because an unstable mineral was mixed in with the concrete. However, the state created the Connecticut Foundation Solutions Indemnity Company, Inc., to address such concerns.

• What are hurricane deductibles in New Britain homeowners’ insurance policies?

  In New Britain, homeowners’ insurance policies might enforce a separate deductible for damages caused by hurricanes. Depending on the insurer, hurricane deductibles might amount to 2% to 5% of the property value, much higher than the standard deductible. Hurricane deductibles apply when the National Weather Service issues an official hurricane warning anywhere in Connecticut and ends 24 hours after the storm is downgraded or the warning is terminated.

• Can New Britain residents report their homeowners’ insurance provider?

  Residents of New Britain who wish to report their homeowners’ insurance provider may file a complaint through the official website of the Connecticut Insurance Department. Policyholders may also relay their concerns to the department’s consumer hotline at 800-203-3447. Common reasons for complaints include cancellations, non-renewals, claim delays or denials, and misrepresentation.

• What determines the price of homeowners insurance premium?

  The premium, or monthly cost, of your homeowners' insurance policy depends on several factors, including the value of your home and amount of coverage you choose. Your credit history and whether the property is in a higher risk area also play a role.