Waterbury’s population has been pretty stagnant over the past 60 years. This is partly due to the decline in industry (especially the brass industry which made the city famous). This also means that populations changes haven’t made insurance prices sky-rocket. They may have increased for other reasons, including crime and general cost of living, but the population density of the city hasn’t changed much. Government and health care play the largest roles in the local economy but the unemployment rate hovers around 9%. Some studies attribute the increase in property crime to the lack of job options in the city. If the economic crisis is posing some problems for your wallet, it pays to explore the choices for cheap insurance Waterbury has to offer. Connecticut’s average insurance premiums are much higher than the rest of the nation, but that doesn’t necessarily mean you can’t save money. Especially if you shop around!
Waterbury facts and figures:
- There are many different neighborhoods in Waterbury and insurance rates can vary a lot between them. If you live in South End or Downtown you may be paying more for insurance than residents of Fair Lawn or Hillside. This all has to do with your neighborhoods traffic and accident statistics, crime rates, and population density.
- The city is a popular place for historical tourism because of the city’s age and the number of preserved buildings and museums. This can increase the traffic rates in the city a bit throughout the year.
- Property crime rates are high and there were over 500 cars stolen in 2012. This also raises insurance rates, especially because the last few years have seen a significant spike.