What's Up With Insurance in Connecticut

[Matt Johnson]

I've had multiple insurance companies discontinue landlord coverage recently in Connecticut--one last year, for a multifamily, and one this year for a single-family. The first was with Amguard, who said they were simply pulling out of the market, and then the more recent one with Progressive, who said they are no longer offering coverage in the area. This seems very strange to me. From speaking to some others in the market, it coincides with skyrocketing premiums. (My multifamily insurance is now 4x what it was two years ago, and I was just lucky to find any coverage at all.) I've been doing this for a long time and have never seen such a huge change of market so it has me wondering what is going on dynamically. New legislation or regulations I don't know about? Clue me in guys...

[Samuel Eddinger]

@Matt Johnson - you are not alone.  I've been dropped by Progressive as well.  Some insurance companies like progressive also insure auto and other coverages so maybe with the increasing cost of RCV policies, they do not want to be so exposed?  I'd love to hear more from the community about why this is happening to places that historically do not have crazy weather events like the Northeast.