Connecticut Insurance

Connecticut is situated in the Southernmost part of the United States . Having an area of 14,357 Km2 it is 48th State in terms of area and 29th most populous state in USA. Insurance is one of the major financial industry in the Connecticut where you can find all kinds of insurance from various insurance companies who offer all kinds of policies and services to its residents.

Home is the most prized personal possession of one and insuring home is a priority for all, particularly in the US where natural disasters often spoil human shelters. The Connecticut home insurance policy protects one from financial loss by paying for any bodily injury or property damage situation in which one is held liable. The home insurance company will pay on his/her behalf in such situations and will defend one in court or paying judgments against him/her.
In case of home insurance, one’s lender will require him/her to insure it for at least the amount of the home loan. One should remember that most insurance policies require insurance coverage of at least 80 percent of the home’s replacement value.
In Connecticut, home insurance rates have steadily risen nationwide year after year, due to increasing claims numbers. The average consumer home insurance expenditure rose to over 7 percent in 2003 and almost 4 percent in 2004.

Connecticut Home Insurance Coverage:
There are various home insurance policies available in Connecticut. Each type of insurance could be purchased in a package which includes coverage for:
Property damage (covers the cost to repair or replace one’s home and personal possessions in the event of a loss)
Additional living expenses (are provided when one’s home is damaged and uninhabitable and he/she must live elsewhere)
Personal liability (protects one against claims or lawsuits resulting from bodily injury or property damage for which he/she is responsible)
Medical payments (reimburses for medical expenses incurred by persons injured on the insured’s property)

Connecticut Home Insurance Policies:
The home insurance policies in Connecticut include:
Broad Form (HO-2): Covers specific perils.
Special Form (HO-3): This popular policy offers property and liability coverage for home and other structures on the insured’s property.
Tenants Form (HO-4): Provides coverage for personal property and any parts of the apartment which is owned in a rental situation.
Condominium Form (HO-6): Covers a condominium owner’s personal property, as well as any portion of the building owned by him/her.
Market Value Form (HO-8): This insures the structure based on market value and not on the actual cash value.
Advice When to Buy Connecticut Home Insurance:
While opting for Connecticut home insurance, one should:
1. gather maximum information before purchasing
2. maintain a routine insurance “checkup” once a year
3. ask about discounts
4. read and understand the policy properly

Auto insurance is a growing insurance industry in the US owing to the increasing instances of accidents and theft of automobiles. Connecticut auto insurance offers some of the best life insurance coverage. Auto insurance is all the more vital since in case of involvement in an accident, one can find his home, savings, future wages and other assets at risk so to cover the cost of related medical bills, car repairs and lawsuits.
The Connecticut Insurance Department recommends one to increase his/her Connecticut auto insurance coverage above the required minimum amounts as that would ensure adequate protection for others with whom he/she might be involved in an accident, and that would also provide a legal protection to him/her.

Legal Requirements for Life Insurance Coverage in Connecticut:
Under the laws of Connecticut, drivers must maintain at least these coverages:
1. Bodily Injury Liability (which covers injury to others due to one’s negligence)
2. Property Damage Liability (which covers damage to others’ property when one is negligent)
3. Uninsured/Underinsured Motorist (which covers bodily injury to one or others riding in his/her car when the former is involved in an accident with a motorist who is either uninsured or has underinsured.
Handy Advice to Keep Connecticut auto insurance premium low:
One can keep his/her auto insurance premium in Connecticut low by:
maintaining a good driving record
setting the deductibles as high as possible
buying many policies with the same insurance company
inquiring about discounts
maintaining good credit history
Alternative Insurance Sources in Connecticut:
In recent years, non-standard auto insurance has emerged to help Connecticut drivers who are difficult to be insured under traditional policies.
This plan is preferable to the Connecticut Automobile Insurance Assigned Risk Plan, which offers auto insurance to almost any licensed driver who can not be insured owing to high claims risk or violations.
Car insurance has been a significant insurance type in the US since automobiles are ever increasing and are also subject to accidents and thefts.
Connecticut State Requirements for Car Insurance:
The law in Connecticut requires all drivers to maintain car insurance types, such as:
Bodily Injury Liability: Covers injury to others due to the insured person’s negligence.
Property Damage Liability: Covers damage to others’ property when the insured person is negligent.
Uninsured/Underinsured Motorist: Covers bodily injury to one or others riding in his/her car when he/she is involved in an accident caused by a motorist who is either uninsured or under-insured.
Other Coverage under Connecticut Car Insurance:
Collision coverage covers the car when the owner is involved in an accident with another vehicle or object, or when his/her car rolls over.
Comprehensive coverage insures against damage to your car other than collision, including theft, explosion, vandalism, flood, falling objects, windstorm, glass breakage and impact with animals. A deductible is usually necessary.
Full glass coverage covers breaking of one’s car’s glass with no deductible.
Determining Premiums in Connecticut Auto Insurance:
Premiums in Connecticut auto insurance are determined by certain factors, such as:
Age, gender and marital status
Auto type
Place and mode of driving and the mode of usage of vehicle
Driving record
Household driving information
Financial credibility

Connecticut Insurance Companies are
GEICO Insurance
Allstate Insurance Company
Aetna
American Home Shield
Answer Financial
Farmers Insurance

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Last Updated on : 27th August 2013