Homeowners in Connecticut
In Connecticut, the median house value is more than what it is nationally, but so are household incomes. At $278,900, the average house in Connecticut costs 37% more than the typical U.S. home, and the state’s median household income of $67,098 is 23% more than what most households in the nation earn. Homeowners in the Constitution State spend 35.1% of their income on home ownership expenses, which is slightly more than the U.S. average of 31.6%. As a result, Connecticut is ranked 8th in the country for states whose residents spend the most on home ownership costs.
63.3% of homes are owner occupied, and the state ranks 33rd for the greatest percentage of owner occupied homes in the country. No one wants to pay more than they have to for home insurance. If you want to get the best policy for your money, contact an insurance professional and ask them to run a home insurance comparison.
Home Insurance in Connecticut
On average, Connecticut homeowners pay $1,1604 annually for home insurance. That’s $126 more than residents of most states pay, and means Connecticut has the 9th highest average insurance premiums in the country.
The Connecticut Insurance Department enforces state insurance laws that protect policyholders, and provides assistance and education to help Connecticut homeowner make sound policy choices. You can visit the agency at 153 Market Street, 7th Floor, Hartford, Connecticut 06103, reach a customer service representative at 1 (800) 203-3447, or contact the agency online.
The Connecticut Chapter of the Community Associations Institute focuses on providing education, research, and information to community association homeowners and board members to develop thriving neighborhoods throughout the state. It’s an excellent resource if you have questions about homeowners associations. The Institute is located at 1489 Main Street, Glastonbury, Connecticut 06033 and can be contacted at 1 (860) 633-5692.