Salem, CT Home Insurance Quotes!

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Within the New London County region, Salem, CT has a total population size of 8,364. Homeowners looking for home insurance quotes in this area have found very affordable rates with saving some in upwards of 55% with rates as low as $982 per year. There are over 3,076 homes in Salem that are currently owned and occupied. Our services allow us to shop and compare up to 12 rates and coverage options. Our online home insurance quoting system allows us to easily do the shopping for you at no cost, that's right, it's free. You can easily get multiple quotes today by entering your zip code and compare the most competitive Connecticut rates available or give us a call now at 1-855-976-2656.

Salem, CT Housing & City Data

Location:Salem, CT (NEW LONDON County)
Occupied Residents:3,076
Average Real Estate Value Per Zip Code:$287,400

Average Salem Home Insurance Rate Quotes

A common question that many Salem homeowners are asking, is "What's the average annual rate for homeowners in Salem, CT?" In other words, what is my neighbor paying for insurance and how can I save more money on my home insurance cost every month. The answer is easy, for homeowners living in Salem, we see an overall average of $1,232 per year. Now based on this "average", your rates could be 40% lower if we compare with multiple carriers and apply all the discounts and package options available to you. We have seen rates as low as $982 per year. At, we save you time and money by shopping all these rates for you. When comparing rates, it's also important to know that the average premium paid by homeowners within the United States is $1,311 paid annually.

In order to gain an understanding of how your rate will be compiled, we have listed a few helpful resources to help you understand replacement cost value, home insurance credits and home features that help discount your premium.

Top 5 Helpful Saving Resources

  1. This home insurance calculator will calculate your dwelling coverage for your home in Salem, CT so you know what type of home insurance coverage you need to cover your replacement cost.
  2. Here are the top five homeowners insurance discounts that you may not be aware of in Connecticut
  3. Installing smoke detectors, a security system and getting the same home and auto policy with the same carrier is a good start but to really kick-start your home insurance savings you have to dig a bit deeper. Here are the top 3 home insurance credits available to homeowners.
  4. FAQ: What is a Salem, CT Homeowners Insurance Policy?
  5. FAQ: What does a replacement cost coverage and actual cash value mean for my home in Salem, CT?

Compare Homeowners Insurance Rates in Salem, CT!

Enter your Zip Code:    

Get up to 12 competitive Salem, CT homeowners insurance rates all in one place!

Enter your Zip Code:    
Easily compare up to 12 competitive Salem, CT rates all in one place!

Average Rates Nearby Salem

Are you looking for homeowners insurance in a city near Salem? Review coverage options and average rates in your area by clicking your city below. We can help you shop home insurance rates!

Home Insurance Rates by Zipcode in Salem, CT

Easily review average rates and get multiple homeowners insurance quotes by clicking your zip code below located in Salem.


Salem, CT Home Insurance Average Premiums

Local Salem, CT home insurance quotes comparison

$982 /yr.

Shows Salem's lowest average rates with discounts applied.

For the city of Salem, homeowners insurance rates may vary on deductible, coverage amount and property details. Below is a list of the averages based on the cost of an annual home insurance premium.

Coverage Amount:Annual Premium
1800 sq. ft. or below
(discounts applied)
$982 /yr.
Average Coverage:$1232 /yr.
2600 sq. ft. or higher
(all discounts applied)
$1532 /yr.

What is the average home insurance cost for a home in Salem, CT?

  • • The average homeowners insurance premium paid annually for a home in Salem is around $1232 per year.

What does it cost on average per month for home insurance in Salem, CT?

  • • Homeowners in Salem pay an average cost per month around $103.00 for insurance coverage.

Salem, CT Coastal Wind, Hail & Flood Information

Salem is located in a coastal county which greatly increases the risk of hurricanes and windstorms. Our quoting process will include wind and hail coverage options to give you the best protection you need against high winds and storm damage.

Flood Zone Notice: The beautiful coastal city of Salem is know for it's beautiful beaches and waterways. Because New London County (FIPS: 9011) has a shoreline and is in a coastal area it is important to purchase flood insurance. The risk is very high in this area and we will work with you to provide the best flood insurance coverage you need for your home in Salem, CT.

Salem, CT - 2023 Housing Information

Month Current Home Value (2023) Last Year Home Value (2022)
January $367,827 $339,098
February $367,766 $343,763
March $369,107 $349,793
April $370,666 $356,059

Homeowners insurance will help cover the cost to repair or replace your Salem home if it is damaged or destroyed by a covered peril, up to your coverage limits. A homeowners policy is made up of a few different coverages. Here are the most common coverages:

  • Dwelling: This coverage will pay to repair or replace the structure of your home if it is damaged or destroyed. Review and Calculate Replacement Cost Coverage in Salem
  • Liability: This coverage will help cover medical and legal bills if someone is injured in your home, slipping on an icy sidewalk for example. It also offers protection if you damage another person’s property, your child hitting a baseball through a neighbor’s window for example.
  • Contents: This covers the cost to replace your personal possessions that are destroyed by a covered peril. Furniture, electronics, clothing and household goods are excellent examples. Contents coverage is often capped at 50% to 70% of your dwelling coverage.
  • Other Structures: This coverage protects other structures on your property such as detached garages, outbuildings, barns, and sheds.
  • Loss of use: This covers everyday costs that you incur if you cannot live in your home while it is being repaired due to a claim. It will pay hotel and restaurant bills and even the cost of dry cleaning.
Enter your Zip Code:    

Get up to 12 competitive Salem, CT homeowners insurance rates all in one place!

Enter your Zip Code:    
Easily compare up to 12 competitive Salem, CT rates all in one place!

Saving Money Tips on Salem Home Insurance

A great way to save money on Salem homeowners insurance is to make sure you are getting all the discounts you are qualified to receive. Here are just a few of the most common discount’s insurers offer:

  • Bundling: If you purchase your home and auto (or any other insurance coverage) from the same insurer, you should get a bundling discount. Expect to save 20%-25%.
  • Secure your home: Adding a monitored security system, water leak sensors, deadbolts, and smoke detectors should result in a discount.
  • Impact resistant roof: If you are replacing your roof, consider impact resistant roofing materials which help prevent hail and impact damage as well as resulting in a significant discount.
  • Stay claim free: If you have been claim free for a number of years (five is a common requirement) your insurer should offer a claim free discount.

Are you shopping for the best rate near or wihin the Salem area? Check out what homeowners are paying on average for Connecticut homeowners insurance.

Elevation Review for Coastal Wind or Flooding Risk

Elevation Details Homeowners Tips
301 ft. This is the average home elevation in Salem, CT

» Elevation is crucial to a homeowners insurance policy because it determines the risk of your home being in a flood zone which is particularly important in a coastal state such as Salem, Connecticut.

A standard homeowners policy does not cover flood damage. If you live in a flood prone area, you will need to purchase a separate flood to fully protect your home.

Call Now for Flood Insurance Quotes: 888-620-1954!

Flood insurance can be purchased via the National Flood Insurance Program (NFIP) or in the private market. NFIP policies come with coverage caps and other restrictions so you may need to supplement your flood insurance coverage with a private market policy.

It's important to remember that flooding occurs in low and moderate risk areas as well. According to FEMA data, almost 25% of all flood claims come from low to moderate-risk areas.

To get online quotes on your home and compare rates on home insurance premiums in Salem, enter your zip code above and easily complete our online quoting application. Remember, it's important to speak with us about additional home insurance discounts so you can get the best rate for your home in New London County.

Connecticut Homeowners Insurance News & Information

  • Largest Insurer in California – Travelers Announces Home Insurance Rates Going Up 15% Posted on Monday 20th May, 2024

    Travelers Insurance, which is one of the largest insurers in California, recently announced that they will be raising premiums by an average of 15% in the Golden State. This is just the latest rate increase or policy limitation by major insurance companies who blame the increases on spreading wildfire risks, inflation, and the cost of […]

  • Should I raise my deductible to $10,000 to help offset the cost of rising premiums? Posted on Wednesday 15th May, 2024

    According to industry reports, homeowners are raising their deductibles to $5,000 to $10,000 to help offset the cost of rising premiums.  While raising a deductible into the stratosphere will absolutely lower your homeowner insurance premium, it does mean that you will have to cover your deductible amount in the event you have to make a […]

  • Should I choose the minimum or maximum homeowners insurance coverage? Posted on Monday 13th May, 2024

    As homeowner insurance rates rise across the country, some homeowners are opting for policies that offer minimal coverage to keep their premiums affordable. Unfortunately, this choice will leave them at higher risk and in a position where they may have to pay more out of pocket if they have to make a claim on their […]

  • Texas is Seeing Major Increases in the Cost of Homeowners Insurance Posted on Tuesday 7th May, 2024

    Like much of the rest of the country, Texas is seeing major increases in the cost of homeowners insurance. According to an article in Austin American-Stateman, residents of Texas have seen their insurance rates go up 50.9% on average which is the largest increase in the country for that time period. Unfortunately, experts are predicting […]

  • Homeowners Below a 580 Credit Score Pay 35% More for Home Insurance Posted on Monday 15th April, 2024

    While the odds of a major disaster hitting a specific home is the same regardless of whether the owner has a great credit score or one that puts them in a subprime category, their credit score will impact their rate in many states.  In most states, insurers are allowed to consider credit scores when setting […]

Salem, CT Dwelling Coverage Estimate

It is important to calculate your dwelling coverage for your home in Salem so you know what type of homeowners insurance coverage you need to cover your replacement cost. It is recommended to have enough dwelling coverage to rebuild your home if it was destroyed by a covered peril.

Please remember that replacement cost coverage does not include the cost of the land, only the price to rebuild your home, which is why we like to help customers by answering a few questions that you may have.

What is the average replacement cost coverage in Salem, CT?

- The average square footage in Salem is around 1,642 Sq. Ft. which would cost you around $287,400 to replace the home if you base the home on the price to build per square foot of $175.

Minimum Replacement Cost Total: $287,400

Location: Salem, Connecticut (New London County)

Average Building Cost Per Square Foot in Salem: $175 (low end)

Average Square Footage in Salem: 1,642 Sq. Ft.

Home Improvement StatusPrice per Sq. Ft.Dwelling Coverage
None or Very Minor Improvements$175$287,400
Some Additional Upgrades$219$359,250
Major Home Updates or Advancements$263$431,100

The dwelling coverage is calculated by the average cost per square foot ($175) in Salem, Connecticut times your heated square footage. Which would equal the cost to rebuild your home minus the cost of the property or land. Some homes will have a higher replacement cost due to home improvements like updated kitchens and bathrooms. Other upgrades may include: granite countertops, hardwood floors and stainless steel appliances. The national square foot average to build a brand new home is around 2500 square feet. So if you are looking to build, and your square footage of your new home is 2500, you are looking at a dwelling coverage premium of around $546,875 (Media price to build of $219 x 2500 sq. ft.) to cover the cost to rebuild your new home.

What is the difference between actual cash value and replacement cost value?

Homeowners insurance is available in both actual cash value (ACV) and replacement cost value (RCV). Knowing the difference is important:

Actual cash value: When valuing your personal possessions, an actual cash value policy will take depreciation into account. This means that your 10-year-old TV will be basically worthless according to your insurance company. While an ACV policy tends to be cheaper, if you have to make a claim you may be disappointed in your claim payout.

Replacement cost value: A RCV policy will replace your possessions with brand new items of similar quality regardless of how old they were at the time they were destroyed. While RCV policies are slightly more expensive, they are well worth the cost if you have to make a claim.