Best and Cheapest Renters Insurance in Bridgeport, CT (2024)

The best renters insurance company in Bridgeport, Connecticut is State Farm with a MoneyGeek score of 95 and an annual premium of $79. The cheapest renters insurance provider in Bridgeport, Connecticut is Allstate with a MoneyGeek score of 94 and an annual premium of $73.

The best homeowners insurance provider should offer a balance of customer service with affordability. For service quality, Travelers is the top choice with an annual premium of $344.
MoneyGeek also looked into the best and cheapest renters insurance in Connecticut for those who live elsewhere in the state.

The best renters insurance in Bridgeport, Connecticut, is State Farm with a MoneyGeek score of 95 out of 100 and an annual premium of $79. The following providers are the top two best renters insurance providers in Bridgeport for a policy with $20,000 in personal property coverage, $100,000 in personal liability, and a $1,000 deductible.

• State Farm: MoneyGeek score of 95 out of 100 ($79 per year)
• Chubb: MoneyGeek score of 94 out of 100 ($99 per year)

The best provider in the state balances both cost and affordability. State Farm has perfectly balanced customer satisfaction and affordability, with an affordability score of 54 out of 55.

In Bridgeport, Connecticut, Allstate offers the cheapest renters insurance with an annual premium of $73 for $20,000 in personal property coverage. Personal property coverage helps protect your belongings in case of damage or theft. The following providers are the top two cheapest providers in Bridgeport for $20,000 in personal property coverage and a $1,000 deductible:

• Allstate: $73 per year
• Farmers: $75 per year

Cheap renters insurance policies often have low personal property coverage limits. While higher coverage limits can increase monthly costs, they offer better protection for those with many personal belongings. MoneyGeek rated the cheapest renters insurance in Bridgeport with minimal consideration for customer service.

In Bridgeport, Connecticut, Farmers offers the cheapest renters insurance for a policy with $20,000 in personal property coverage and a $2,000 deductible, with an annual premium of $67. A deductible can affect your rates. The following providers are the top two cheapest providers in Bridgeport for $20,000 in personal property coverage and a $2,000 deductible:

• Farmers: $67 per year
• State Farm: $67 per year

A higher deductible often leads to cheaper premiums, while a lower deductible means higher premiums. It’s important to balance both to ensure you can afford the deductible if you need to file a claim. Renters should consider their financial situation and risk tolerance when choosing a deductible.

In Bridgeport, Connecticut, Travelers is the best renters insurance company for service quality, with an annual premium of $344. The following providers are the top two best providers in Bridgeport, Connecticut, for a policy with $20,000 in personal property coverage:

• Travelers: MoneyGeek score of 96 out of 100 ($344 per year)
• Chubb: MoneyGeek score of 93 out of 100 ($99 per year)

Great customer service is important for renters looking for insurance because it ensures a smooth and hassle-free experience, especially when filing a claim. When you make a claim, great customer service means you get timely assistance and clear communication, making the process less stressful. MoneyGeek scores renters insurance providers based on customer satisfaction surveys conducted by J.D. Power, which evaluate customer experiences and satisfaction levels.

State Farm offers the best renters insurance for high personal property coverage in Bridgeport, Connecticut, with an annual premium of $184. High personal property coverage typically refers to policies that include $100,000 in personal property protection. For $100K in personal property coverage, the following providers are the top two best providers in Bridgeport:

• State Farm: MoneyGeek score of 95 out of 100 ($184 per year)
• Chubb: MoneyGeek score of 87 out of 100 ($416 per year)

This coverage safeguards your possessions against potential losses due to events like theft or fire. As coverage limits increase, so does the premium, making it vital to find a provider that offers a good balance of cost and service. High-value items such as jewelry or art may exceed standard policy limits and necessitate additional coverage.

In Bridgeport, USAA is the top-ranked renters insurance company for those with military backgrounds, boasting an annual premium of $159. The following providers are the top two best providers in Bridgeport for military members for a policy with $20,000 in personal property coverage:

• USAA: MoneyGeek score of 100 out of 100 ($159 per year)
• State Farm: MoneyGeek score of 95 out of 100 ($79 per year)

USAA offers a range of products tailored for those with a military background, including discounts and coverages that suit the military lifestyle. While USAA is not the cheapest in Bridgeport, it ranks first in affordability among military-focused providers. Despite there being cheaper options, USAA’s tailored offerings may be worth considering for military members.

Chubb is the leading renters insurance company for Bridgeport residents with poor credit, offering an annual premium of $152 for a policy with $20,000 in personal property coverage. The top two providers in Bridgeport for renters with poor credit for the same type of policy are:

• Chubb: MoneyGeek score of 95 out of 100 ($152 per year)
• State Farm: MoneyGeek score of 92 out of 100 ($159 per year)

In Bridgeport, renters with poor credit often face higher insurance rates as they are considered higher-risk to providers. This risk perception is due to a correlation between poor credit and a higher likelihood of filing claims. To potentially lower these rates, you can improve your credit score and look for discounts that may apply to your situation.

The average cost of renters insurance in Bridgeport, Connecticut, is $156 annually, which breaks down to $13 per month. This is $5 more than the Connecticut state average of $151 annually and $11 more than the national average of $145 annually. These rates are based on a renters insurance policy with $20,000 personal property limits, $100,000 liability limits, and a $1,000 deductible.

Renters should remember that the average cost of renters insurance in Bridgeport may vary greatly depending on the amount of personal property coverage you purchase. Personal property coverage protects your belongings in case of theft, fire, or other covered events. Use the calculator below to see how prices change based on the value of your personal property.

The cost of renters insurance in Bridgeport is influenced by multiple factors, including the location of the rental property and the amount of coverage desired. Understanding these variables is key to finding a policy that fits your budget and needs.

• Location: The area where you live can affect your premium due to crime rates and weather-related risks.
• Coverage Amount: Opting for higher coverage limits will increase your insurance costs.
• Deductible: Choosing a higher deductible can lower your monthly premium, but you'll pay more out of pocket in the event of a claim.
• Claims History: Renters with a history of claims may face higher premiums due to a higher perceived risk by insurance companies.
• Credit Score: Insurance companies may factor in your credit history when determining your premium, with better credit records often leading to lower costs.

Renters insurance primarily protects your personal belongings from damage, but it also covers other areas such as liability and loss of use. Here’s a breakdown of what renters insurance typically covers:

• Personal Property Coverage: This covers your personal belongings in case of damage or theft. For example, if a fire damages your apartment in Connecticut, your policy would pay to replace your damaged items.
• Personal Liability Coverage: This protects you if someone gets injured in your apartment and you are found legally responsible. For instance, if a guest slips and falls in your Connecticut rental, this coverage can help pay for their medical expenses and legal fees.
• Loss Of Use Coverage: Loss of use covers additional living expenses if your rental becomes uninhabitable due to a covered peril. If your Connecticut apartment is damaged by a storm and you need to stay in a hotel, loss of use coverage can help cover those costs.

Although renters insurance provides a financial safety net, it doesn't shield against every mishap. For instance, it typically excludes flood damage and your roommate's possessions.

• Natural Disasters: Standard renters insurance often does not cover damage from earthquakes or floods.
• Roommate's Belongings: Personal property coverage does not extend to items owned by a roommate unless they are listed on the policy.
• High-Value Items: Expensive jewelry or electronics may exceed the policy's limit and require additional coverage.
• Business Equipment: Property used for business purposes might not be covered under a standard renters insurance policy.
• Pest Damage: Infestations and damage from pests like bed bugs or rodents are usually not covered.
• Car Theft: While personal property stolen from your car may be covered, the theft of the car itself is not.

The best renters insurance provider for you in Bridgeport ultimately depends on your needs. Below are frequently asked questions to help you make an informed decision.