How Much Does Insurance Cost for Drivers with Good Credit in Connecticut?

Our editors have a joke that when writing about car insurance, the words cheap or affordable really shouldn’t be used anywhere to describe car insurance rates. Unfortunately, cheap auto insurance for drivers with good credit is just plain contradictory. Don’t get your dauber down, because we are going to show you how you can still get coverage that is easier on your budget.

For financially responsible drivers, one of the big considerations that is looked at to help calculate rate quotes is where you normally keep your vehicle. Larger areas like New Haven, Bridgeport, and East Haven tend to pay more, whereas cities that are not as densely populated get the luxury of paying less.

The information below rates the higher priced cities in Connecticut for drivers with good credit to purchase car insurance in.

Rate quotes are approximated as the specific Connecticut residence address can revise premium rates greatly.

Comparing rates for cheap auto insurance is not the easiest thing to do, and determining which company has the cheapest car insurance rates for drivers with good credit calls for even more perseverance. Coverage prices will be slightly lower-priced than the average price in Connecticut, with the decrease attributed to the potential for fewer claims that goes along with selling insurance for financially responsible drivers. Cheap insurance should be attainable without looking to hard.
Every car insurance company uses their own method to set policy rates, so let’s begin by examining the most budget-friendly car insurance companies in Connecticut.

Best Cheap Insurance Rates for High Credit

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Utica National normally has some of the lowest car insurance rates in Connecticut at around $1,005 a year. Travelers, Amica, USAA, and Nationwide are also some of the most economical Connecticut insurance companies.

As the rates illustrate above, if you buy coverage from Amica and switched to Utica National, you might see a yearly savings of upwards of $215. Drivers with USAA might save as much as $216 a year, and Nationwide insureds might realize rate reductions of up to $434 a year.

Remember that these policy prices are averaged across all ages of drivers and types of vehicles and and are not calculated with a price decrease for drivers with good credit. So the insurer that can offer you the lowest price may not even be in the list of companies shown earlier. That is why you need to get auto insurance quotes using your own personal information and vehicle type.

The vehicle that is being insured is probably the biggest factor when shopping around for cheap insurance for drivers with good credit in Connecticut. Vehicles with high performance features, a lack of advanced safety features, or a high likelihood of having liability claims will cost much more to insure than more economical and safe models.

The data below features insurance costs for a number of the most economical vehicles to buy insurance for.

Data based on married female driver age 30, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Connecticut minimum liability limits. Discounts applied include multi-vehicle, safe-driver, multi-policy, claim-free, and homeowner. Price information does not factor in your specific Connecticut location which can decrease or increase coverage rates significantly.

By looking at the data, cars like the Ford Escape, Hyundai Elantra, Honda Accord, Honda Odyssey, and Honda CR-V are most likely going to be the most economical vehicles to insure for financially responsible drivers.

Get discount Connecticut auto insurance

Auto insurance companies that sell cheap insurance for drivers with good credit in Connecticut may also give you special discounts that could reduce prices by as much as 35% if you are eligible for them. A list of companies and some of their more popular discounts can be read below.

• State Farm may have discounts that include multiple autos, multiple policy, passive restraint, driver’s education, Steer Clear safe driver discount, and accident-free.
• Farmers Insurance offers discounts including pay in full, teen driver, alternative fuel, youthful driver, good student, switch companies, and early shopping.
• GEICO policyholders can earn discounts including seat belt use, multi-vehicle, defensive driver, air bags, and daytime running lights.
• American Family has discounts for defensive driver, air bags, TimeAway discount, Steer into Savings, accident-free, and mySafetyValet.
• Nationwide offers discounts for easy pay, multi-policy, accident-free, anti-theft, and good student.
• Progressive includes discounts for online quote discount, online signing, homeowner, good student, continuous coverage, and multi-policy.

The diagram below illustrates the difference between car insurance costs with and without discounts. The information is based on a male driver, no claims or driving citations, Connecticut state minimum liability limits, comp and collision included, and $250 deductibles.

The first bar for each age group shows premium with no discounts. The lower bar shows the rates with passive restraint, accident-free, defensive driving course, safe-driver, vehicle safety, and homeowner discounts applied. When these discounts are applied, the average savings per year on car insurance for drivers with good credit is 28% or $551.

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Full coverage or liability only

Finding cheap insurance for drivers with good credit in Connecticut is probably important to the majority of drivers, and an easy way to buy cheap insurance is to not pay for full coverage. The diagram below illustrates the comparison of annual premium costs with full physical damage coverage compared to only buying liability only. The data assumes no violations or accidents, $500 deductibles, marital status is single, and no discounts are taken into consideration.

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As an average for all age groups, physical damage coverage costs $2,170 per year over and above liability coverage. At some point, about every driver wonders if buying full coverage is worth the money. There is no definitive guideline to stop buying physical damage coverage on your policy, but there is a general guideline you can use. If the annual cost of coverage is more than 10% of the replacement cost minus the deductible, then you might want to think about dropping full coverage.

There are some situations where only buying liability is not financially feasible. If you haven’t satisfied your loan, you have to carry full coverage as part of the loan conditions. Also, if your savings is not enough to buy a different vehicle in case of an accident, you should maintain full coverage.

Is the best company Progressive, State Farm, Geico, or Allstate?

When comparing car insurance for financially responsible drivers in Connecticut, four companies to take a look at are Progressive, State Farm, Geico, and Allstate. Combined they make up about half of all policies written in the United States. All four can cover your vehicle for liability and physical damage, but each one has a little bit different set of discounts and options that buyers can select from. The following table compares and contrasts some of the different options that are available.