Connecticut Car Insurance Rates
In the state of Connecticut, all drivers are required to carry their own personal auto insurance that covers vehicles registered in their name to satisfy mandatory insurance laws.
While auto insurance coverage is a state requirement that cannot be avoided, drivers do have the choice to purchase coverage from the insurer licensed in the state of Connecticut who offers the best rates.
In order to find the best rates, it is your job as a consumer to price shop the premiums that are charged by various providers. Simply entering your ZIP code into the FREE comparison tool above to start shopping!
By learning about the coverage requirements and how base rates are calculated, you can find the most competitively priced plans while you gain an understanding for what you are buying.
Read this guide to Connecticut car insurance rates, and become a knowledgeable consumer who can make informed purchasing decisions.
How much auto insurance is required in Connecticut?
Every state sets its own auto insurance laws and required limits. If you live in Connecticut permanently and you have a registered vehicle in the state, you must carry liability and uninsured motorist coverage to satisfy the law.
Liability insurance is designed to protect you when you are liable for injuries or property damage because you were deemed at-fault for an auto accident. Uninsured Motorist will pay you for injuries if someone with no coverage or minimal coverage hits you.
Based on the Connecticut law, you must carry at least $20,000 per person and $40,000 per accident in Bodily Injury, and an additional $10,000 per accident in Property Damage cover. The limits for Uninsured Motorist match the limits of Bodily Injury that are required.
All base rates that are determined by insurance actuaries will be based on the minimum coverage options. Any additional coverage options and higher limits, while they are recommended, will cost you additional premiums.
What are the penalties for driving without insurance?
If you do not carry these minimum coverage limits, you are not complying with mandatory Connecticut laws and may be assessed one or multiple penalties. While carrying insurance is the law, some people decide to take the risk and disobey the law.
These people are called uninsured drivers. Based on reports issued by the Legislative Attorney, about 12 % of drivers in the state are uninsured at any given time.
If any of these drivers are caught driving without active insurance, they may have to pay between $100 and $1,000 in fines. They could also face license suspension, registration suspension, vehicle impound, or even jail time for multiple convictions.
The cost of driving without insurance certainly adds up to cost more than the average Connecticut car insurance rates. By buying insurance, you are avoiding hefty penalties, hassle, a blemished criminal history and the burden of paying for losses out-of-pocket.
How are Connecticut car insurance rates determined?
The key to finding the most affordable auto insurance in Connecticut is to shop around. The main reason why shopping around is so important is because of the way that auto insurance rates in every state are calculated.
Auto insurance companies in the state will set their own rates, but only after these rates are filed with the Department of Insurance, reviewed and then approved.
The reason that rates must be filed is so that companies in the industry have the ability to compete without discriminating against consumers. If rates are determined to be discriminatory or predatory in nature, the company will need to make adjustments until this is fixed.
Some insurers will price themselves out of specific markets on purpose in an effort to target a specific rating group. The purpose of doing this is to be marketable to a target niche so that the company can focus their advertising and make special rating classes for other risk groups. No matter what group the company wants to target, they will use several different rating factors to set base rates.
What rating factors will affect base rates in Connecticut?
According to the National Association of Insurance Commissioners, the average expenditure for auto insurance in the state of Connecticut is $970.22 per year.
While this average takes the highest and the lowest rates into consideration, you cannot use averages to assess how much you will pay for insurance because your rates will be personalized by using a set of different rating factors.
By answering the questions that are found on an application, an insurance underwriter can find your base rate and then use this rate to give you an accurate quote. Here are the most common rating factors that are used to calculate base rates:
Credit History
The fact that a person's credit history can affect their rates has been a huge topic for debate in the past. Some individuals feel that credit history has nothing to do with whether or not a driver is a risk, but the statistics tell another story. In the state of Connecticut, credit history can affect your premiums.
Insurers will use your credit rating to assign you an insurance score. This score represents how financially responsible you are. The better your score, the lower your rates. The main reason why an insurance score can qualify you for lower rates is because a good credit score is a predictor that the applicant is a responsible driver and less likely to file a claim.
Driving Record and Claims History
Filing a claim or being convicted of a moving violation can affect your premiums for up to three years in the form of a surcharge. If you file a claim for an at-fault loss, it does not matter how much damage you cause, the surcharge you will pay for 3 years will be the same.
Having a moving violation, while it does not cost the insurer money, is a sign that you may be a higher risk than an individual who obeys traffic laws. While surcharges last 36 months, you could lose good driver discounts for longer depending on a combination of factors.
The best way to keep low rates is to drive safely, but knowing how these blemishes can affect you is extremely important.
Age, Gender, and Driving Experience
Believe it or not, your age and gender play an important role in your rates. While these are two factors that you cannot change, they are factors that put you in a specific classification group. Generally speaking, males pay higher rates than females because they statistically are the riskier gender group.
Younger males pay even higher rates. As you get older and gain more driving experience, your rates will drop. Typically rates drop around 25, or when you have 9 years of driving experience.
They will start to go up again when you turn 62 if you do not take a voluntary mature driving course. The myth that everyone's rates go up when they get older is not necessarily true.
Vehicle Classification
The type of vehicle that you purchase can cost more to insure.
Typically, SUV's, performance cars and convertibles are the riskiest types of cars. If you have a poor driving record and a risky vehicle, your rates can skyrocket. Classifications are generally based on the safety record of the car.
Safety records are not based on the cost of the vehicle but the amount of damage and injury sustained when the vehicle is involved in an accident. This is why some people are surprised to discover that insuring an inexpensive car can actually cost more than insurance a very safe luxury vehicle.
Vehicle Usage and Mileage
Do you drive your vehicle to work or just around town for errands? Your answer can affect your rates. It is much more risky for an individual to drive a commute than it is for them to drive for pleasure. This is why pleasure users pay less than both commuters and business users.
The more that you drive, the more likely you are to file a claim. If you drive under the average mileage, you will be placed in a low rating bracket. Those who drive high mileage may pay a high premium because there is more exposure to risk. Be sure to take advantage of a low mileage discount to save money if you qualify.
Garaging Territory
You may know that you are paying Connecticut rates, but the rates in the zip code where you park your vehicle regularly will also affect premiums. If you live in a zone where several claims are filed for theft and vandalism, your rates could go up.
If you live in an area where the claims to population ratio is low, you will enjoy paying low rates. Be sure to shop around using our FREE comparison tool below!
Insurance premiums are calculated using many different factors. If you want to save on your Connecticut car insurance rates, it is time to shop around. Use an intelligent and intuitive rate comparison tool online, and start shopping today so that you can be protected as soon as tomorrow.