UPDATED: Mar 13, 2020
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Cheap Car Insurance in Stamford, CT
In the market for auto insurance in Stamford, CT? At AutoInsuranceEZ.com, you will find the very best insurance rates near you. To get free car insurance quotes from the very best providers today, type your zip code into the quote box on this page.
Stamford might just possess everything you could want in a city. There are miles of beaches and parks in which to enjoy your spare time, in addition to the thriving business community. In fact, Stamford is #3 on the list of top 10 cities for doing business within the United States.
- Fun Fact: Did you know that Stamford is #1 on the list of “Top 101 cities with largest percentage of males in occupations: Farmers and farm managers (population 50,000+)”? Learn more about Stamford.
Auto Insurance Coverage Requirements in Connecticut
To drive legally in the state of Connecticut, you will need:
|Bodily Injury Liability||20,000/40,000||100,000/300,000|
|Property Damage Liability||10,000||50,000|
|Uninsured Motorist Bodily Injury||Not required||20,000/40,000|
|Medical Payments||Not required||5,000|
|Collision||Not required||500 deductible|
|Comprehensive||Not required||0 deductible|
Are you still making payments on a new car? Well, it’s important to let your insurance company know up front. Many lenders won’t let you purchase any kind of insurance which doesn’t contain Comprehensive and Collision coverage. Otherwise, you’ll probably be free to buy a liability only policy.
Did you know that the average monthly payment for motorists in Connecticut can be as high as $137 per month? However, in Stamford, you can get insured for as low as $59/mo* of you know how to play your cards right.
As you can see, the most competitive rates being offered in Stamford right now are from Liberty Mutual, Amica, and Allstate. However, there are other factors at play, such as customer service and ease of claim filing. Depending on what company attributes are more important to you, a slightly higher premium might be worth the money in the long run.
Auto insurance providers consider various factors when figuring out insurance quotes, including driving violations, accident claims, Type of vehicle owned, years of driving experience, and business use of the vehicle. In addition, premiums differ from carrier to carrier. To find out whether you’re still being charged the cheapest rate, learn more about Connecticut auto insurance here.
Major Car Insurance Factors in Stamford
There are many ways your car insurance rate may be calculated. But not all of it is out of your control; there are things you can do so that you can impact which discounts you are entitled to receive. Listed here are some of these components in greater detail:
Your Zip Code
The cheapest car insurance is usually found in cities with a lower population density. Because there are fewer automobiles on the road, there are fewer opportunities for you to get into a major car accident with another driver. The population of Stamford is 126,456 and the median household income is $72,706.
If motor vehicle accidents are common on the roads where you drive most frequently, then your insurance provider will offset that risk by charging you higher rates. Unfortunately, fatal accidents were in the rise in 2013, with 6 crashes resulting in an equal number of fatalities.
Auto Thefts in Stamford
Living in a large city (Especially one with a high crime rate) will increase your risk of being a victim of auto theft. If your general location has high rates of theft and claims, you can expect to pay more for auto insurance to offset these costs. The total number of stolen vehicles in Stamford was 149 back in 2013, which is quite low. However, some motorists still choose to add Comprehensive coverage to their policy for peace of mind.
Your Credit Score
You may not think about your credit score that often, but your auto insurance company sure does. By examining the chart below, you can see what a significant difference your credit score can make. For some companies, your monthly premium could skyrocket by 75% or more if you are currently suffering from a poor credit score.
As you can see from the chart below, young teenage drivers get charged significantly higher rates. Their youth, as well as their lack of driving experience, make them much more risky to insure. However, teenage drivers can try to alleviate some of this financial burden by looking into a Good Student discount, or taking additional driver education courses.
Your Driving Record
The cleaner your driving record, the better. The more tickets and citations you have, the more expensive your monthly insurance rates will be. And if you have something serious on your record, such as a DUI, some providers may refuse to give you auto insurance (or drop you as a customer).
Thinking about purchasing insurance for a luxury vehicle? If you can afford it, go right ahead – but keep in mind that you will need an equally luxurious insurance policy to keep yourself protected from accident- and theft-related expenses. Economical cars, on the other hand, don’t require as much coverage, and therefore have lower monthly rates.
Minor Car Insurance Factors in Stamford
You can also count on the factors below to influence your rate in surprising ways:
Your Marital Status
For many years, drivers have been under the impression that your marital status can play a major factor in your monthly car insurance premiums. In truth, it depends more on your insurance company than anything. Certain providers charge married couples more, while others might charge less. Most providers don’t charge any difference at all – and even if they do, it might not amount to more than a few dollars per month. However, married couples can save a great deal of money by bundling their insurance policies together.
The younger you are, and the less experience you have behind the wheel, the more likely you are to get into an accident. However, teenage drivers can reduce some of their insurance costs by looking into good student discounts, as well as taking Drivers Ed and defensive driving courses.
Your Driving Distance to Work
The average work commute can last anywhere from 25-28 minutes for workers in Stamford. This can probably be explained by the fewer than 4% of workers who carpool, which means that there is more congestion in the roads.
Do you think you’ll pay higher insurance rates for driving more miles each year? Or for driving for pleasure instead of commuting to work/school? Well, the truth is that only business vehicles see a significant rate hike (about 10-12%/month). All other variables will only change your monthly premium by a few dollars.
Your Coverage and Deductibles
Trying to save money every month on your insurance? Many drivers achieve this goal by purchasing less coverage. But you can also purchase a few extra coverage benefits and offset the monthly cost for yourself by raising your deductible. Just make sure you put a little money away, should you need to shell out the cash in the event that you need to file a claim.
Education in Stamford, CT
The number of motorists in Stamford who have bachelor’s degrees is only slightly surpassed by the total number of drivers with their high school diploma. But did you know that pursuing a higher education can save you lots of money on your auto insurance? More often than not, insurance providers will give preferred rates to those who have a higher education, regardless of salary or job title.
There are many great universities to choose from in Stamford. If you’re looking for an MBA, you can look into either the University of Bridgeport (Stamford Campus) or the University of Connecticut. They also have the Neag School of Education for aspiring teachers, and over 25 different possible degrees offered by the J.M. Wright Vocational Technical School.
Finding affordable auto insurance can be a hassle. There’s a lot of information you need to consider and, figuring out how insurance companies evaluate your potential risk can be complicated. But don’t let the wrong insurance company talk you into purchasing the wrong policy.
How We Conducted Our Car Insurance Analysis
*We calculated our average rate based on the following metrics: a married, 34 year old male with good credit, a 12-month history of maintaining auto insurance, a clean driving record, who owns his own home. Miles driven annually were based on the national average. The average rate was also calculated based on a financed 2015 Honda Accord with a pre-installed anti-theft device.
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