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Bridgeport, CT Homeowners Insurance
Bridgeport is the largest city in Connecticut, and residents and tourists alike know the city as the birthplace of iconic circus showman P. T. Barnum. Also known as Park City, Bridgeport has over 1,300 acres of public park space, giving residents ample opportunities to enjoy the peaceful escape of nature all across the city. Bridgeport lies along the Long Island Sound and hosts the University of Bridgeport, historic sites like the Warner Brothers Corset Company, and the Beardsley Zoo, the only zoo in Connecticut. But if you ever get tired of touring the Barnum Museum, Bridgeport is only a short drive from Hartford, New Haven, Stamford, and even New York City.
Bridgeport residents experience the beauty of all four seasons each year, but new risks come with this changing weather. Floods, blizzards, and strong winds regularly impact the city, leaving homeowners vulnerable to serious home damage.
But protecting your Bridgeport home has never been easier. Insurify’s comparison tools allow you to see Bridgeport home insurance companies, coverage options, and home insurance quotes in one place. That way, you can find the best Connecticut homeowners insurance for you in just a few minutes.
Cheapest Home Insurance Companies in Bridgeport
For homeowners in Bridgeport, it's important that you evaluate all of your potential insurance options to ensure you are finding the best rate. Comparing the right insurance companies will allow you to get the best possible insurance rate for your home.
To simplify comparing companies, Insurify has analyzed rates from top insurance providers in Bridgeport. The following are the best insurance rates from carriers that offer homeowners insurance in Bridgeport.
|Cheapest Companies||Quotes The car insurance quotes, statistics, and data visualizations on this page are derived from Insurify’s proprietary database of over 4 million car insurance applications from ZIP codes across the United States. Insurify’s data science team performs a comprehensive analysis of the various factors car insurance providers take into account while setting rates to provide readers insight into how car insurance quotes are priced.|
How to Find Cheap Home Insurance in Bridgeport
The average home in Bridgeport costs roughly $230,000, and with everyday risks like heavy rain, strong winds, and snowstorms, you’ll want to make sure your home is protected from any natural disaster that might come your way.
Home insurance is your one-stop-shop for keeping your Bridgeport home safe from all of the perils each season brings. While you aren’t legally required to insure your home, most mortgage lenders will require that you purchase a policy. Whether you’re required to have home insurance or not, the benefits of homeowners policies far outweigh the costs.
A home insurance policy will help pay for expensive damages to your home, property, and even your personal belongings after a natural disaster or home burglary. Homeowners coverage even provides liability coverage in case someone is hurt on your property and offers additional living expenses (ALE) coverage to pay for your family’s expenses if you need to stay in a hotel while your home is repaired.
Your insurance products should be specific to your needs, and every policy has exclusions, so keep reading for your full guide on Bridgeport home insurance.
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Cheapest Home Insurance in Bridgeport by Company
Homeowners insurance rates aren’t always designed with savings in mind. That’s where Insurify comes in. Our free home insurance comparison tool allows you to find the best policy for the best rate fast. And your information stays private and protected.
As of 2020, the average home insurance premium in Bridgeport costs $1,158 annually, and the median home value is $231,297.
Bridgeport home insurance rates are typically higher than rates in other Connecticut cities because of the risks associated with insuring homes on the coast. But shopping around for insurance quotes can help you make sure you get the most bang for your buck. Check out the average cost of homeowners insurance with companies like Nationwide, State Farm, Liberty Mutual, and Allstate below.
|Average Home Cost in Bridgeport The car insurance quotes, statistics, and data visualizations on this page are derived from Insurify’s proprietary database of over 4 million car insurance applications from ZIP codes across the United States. Insurify’s data science team performs a comprehensive analysis of the various factors car insurance providers take into account while setting rates to provide readers insight into how car insurance quotes are priced.||Average Annual Insurance Premium in Bridgeport The car insurance quotes, statistics, and data visualizations on this page are derived from Insurify’s proprietary database of over 4 million car insurance applications from ZIP codes across the United States. Insurify’s data science team performs a comprehensive analysis of the various factors car insurance providers take into account while setting rates to provide readers insight into how car insurance quotes are priced.|
Average Annual Home Insurance Premium in Bridgeport by Company
Average prices for standard homeowners insurance for a 7-15 year old home, $200,000 in coverage
Cheapest ZIP Codes in Bridgeport for Home Insurance
Every Bridgeport neighborhood is different, from the people who live there to the value of homes in the area and even crime rates and natural disaster risks. So it makes sense that home insurance rates will also be different depending on which area in Bridgeport you live in.
Home insurance pricing is determined on ZIP code–specific variables, like home values, crime, and even how many home insurance claims have been filed in the area. This explains why homeowners in downtown Bridgeport pay different premiums from those in Fairfield or Norwalk —each city simply has different insurance risks and needs. But even the specific block or street you live on may affect whether you pay more or less for your annual premiums.
Rates in Bridgeport can be relatively high compared to the Connecticut average, but your specific home insurance rate will depend on which neighborhood you live in.
Home Insurance Coverage Types in Bridgeport
There are several types of home insurance. Specific terms of insurance policies may vary by city, but in general, the standard policy types are as follows:
The simplest and least comprehensive type of homeowners insurance
Provides coverage for a handful of potential problems, including
- Dwelling coverage for damages from some natural disasters (storms, fires, wind, lightning, volcanic eruption),
- damage from vehicles,
- or civil commotion.
Broad form homeowners insurance policies include all basic form coverage, plus protection from:
- falling objects,
- damage from the weight of ice, snow, or sleet,
- freezing of household systems including HVAC and pipes,
- sudden and accidental damage to pipes and other household systems from artificially generated electrical current,
- accidental discharge or overflow of water or steam,
- sudden and accidental damage.
HO-2 policies typically cover both dwelling protection and personal property.
In some cases, broad form coverage may also include liability coverage. However, it still only covers the specific damages listed in the policy.
The most common form of homeowners insurance is known as a “special form” policy.
While HO-1 and HO-2 policies are “named peril” policies (meaning they only cover dangers that are specifically listed in the policy), HO-3 policies are “open peril” policies meaning they’ll cover all dangers except those specifically excluded in the policy documents.
HO-4 policies, also known as renters insurance, are for people who lease rather than own their homes.
Tenant’s form policies typically cover all the same dangers as HO-2 policies.
These policies include personal property coverage and liability coverage but don’t cover the physical structure of the house.
Some HO-4 policies may also include loss of use coverage for the tenants.
Comprehensive form policies are usually the broadest and provide the highest level of coverage; not surprisingly, they also tend to be the most expensive type of homeowners insurance policy.
The biggest difference between HO-3 and HO-5 policies is that most HO-3 policies are “actual cash value” policies, whereas typically HO-5 policies are “replacement cost value” policies.
An actual cash value policy will only reimburse you for the actual value of a damaged or destroyed item, while a replacement cost value policy will reimburse you for however much it would cost to completely replace or repair the damaged or destroyed item (up to the coverage limits on the policy).
HO-5 policies also provide personal property coverage against a wider range of dangers than the typical HO-3 policy. Many HO-5 policies also have extra coverage for high-value personal property, such as jewelry and artwork.
Not surprisingly, condo form insurance is for condominium owners. HO-6 policies generally protect against the same types of dangers as HO-3 policies.
They provide dwelling protection coverage with a twist: HO-6 policies cover the walls, floors, and ceiling of the condo unit but not the rest of the building.
These policies also include personal property and liability coverage and may include loss of use coverage.
If you own a mobile home or manufactured home, you likely have an HO-7 policy.
Mobile home form policies are typically identical to HO-3 policies, except they’re designed specifically for mobile and manufactured homes.
Like HO-3 policies, they provide dwelling protection coverage, other structures coverage, personal property coverage, liability coverage, and possibly loss of use coverage as well.
HO-7 policies generally only protect the home when it’s stationary; if you plan to move your mobile or manufactured home, you’ll need to get a special policy to cover it while it’s in transit.
Older homes have generally been built to less stringent code standards than recently built homes, and so insurers have designed a specialized type of homeowners insurance policy for them.
HO-8 policies often only cover the basic perils listed in HO-1 policies and generally apply to homes that are registered landmarks or otherwise deemed historic homes.
Owners of registered landmarks are typically forbidden from making the updates to HVAC, electrical, and other parts of the home that would enable them to qualify for a standard HO-3 policy, so an HO-8 policy is often the only option for them.
For more detailed Connecticut city level guides, check out these below.
Connecticut Wind and Hail Deductible
You may assume that your Bridgeport home insurance policy has you covered for all the natural disasters that could arise in your neighborhood. But Connecticut is one of 19 states that require home insurance policyholders to have separate wind and hail coverage. Every insurance group offers different policies, though, so it’s best to check what your coverage includes before paying for additional coverage.
If windstorms are excluded from your policy, adding a wind and hail deductible to your standard homeowners coverage will mitigate your expenses after serious storms. These deductibles are usually set as a percentage of your dwelling coverage (typically one to five percent), and you are responsible for paying that deductible before your coverage kicks in. While having a separate deductible for specific storms may seem like a pain, it’s better to have the coverage option rather than forgoing windstorm protection altogether.
Flood Insurance in Bridgeport
Bridgeport home insurance premiums are already a bit costly, so it makes sense to try to save on extra coverage. But flooding is the most common and expensive natural disaster in Connecticut, according to the Connecticut Insurance Department, and your home insurance policy alone won’t pay for any damages caused by flooding.
To make sure you aren’t left paying for expensive flood damage out of pocket, you’ll need to purchase a flood insurance policy. These policies cost roughly $800 to $1,200 annually, while water damage repairs cost homeowners over $2,500 on average. You can get flood coverage through your private insurance company or the National Flood Insurance Program (NFIP). But there is a 30-day waiting period on most flood insurance policies, so you’ll want to make sure your home is covered before the next storm.
How to Find the Cheapest Home Insurance in Bridgeport
Whether you prefer hiking the trails, exploring local history, or relaxing by the sea, Bridgeport is the perfect place to call home, and your home insurance policy should be just as great. Insurify’s comparison tools make your insurance search quick and easy so you can stop worrying about your home and get back to enjoying it.
If you want to save the most money with the least amount of effort, use Insurify to compare home insurance premiums for your property in Connecticut. You’ll be amazed at how easy it is.
Frequently Asked Questions
How much personal property coverage does my Bridgeport home insurance have?
Some areas of Bridgeport experience high property crime rates, so protecting your personal belongings is a must. Most home insurance policies set personal property limits as a percentage of your dwelling coverage (typically around 20 to 50 percent). Your limit should be high enough to repair or replace all of your belongings in case of a natural disaster or home burglary. Making an inventory of your most important and expensive belongings can help you make sure you have enough coverage without overpaying for protection you don’t need.
What’s the easiest way to save on Bridgeport home insurance?
Simple measures like installing a home security system or even adding deadbolt locks to your external doors can help reduce your home insurance rate. If you’re in the market for car insurance, bundling your home and auto insurance policies can also help you save. Every insurance company offers different discounts, so talk to your insurance agent to see what offers you qualify for.
Does my home insurance liability coverage apply to my home business?
It depends. Many people are working from home these days, but if you’re running an in-home business, you’re going to want more protection than what your homeowners coverage offers. Depending on the size of your business, you can either add a home business endorsement to your homeowners policy, purchase in-home business insurance, or go with a comprehensive business insurance policy. Check out Insurify’s home-based business insurance guide to see which option is best for you.
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