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Denver, CO Homeowners Insurance Quotes (2023)
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Written by
Jackie Cohen
Editorial Manager
Jackie Cohen is an editorial manager at Insurify specializing in property & casualty insurance educational content. She has years of experience analyzing insurance trends and helping consumers better understand their insurance coverage to make informed decisions about their finances.Jackie's work has been cited in USA Today, The Balance, and The Washington Times.
Edited by
John Leach
Insurance Content Editor at Insurify
John Leach is an insurance content editor who has worked in print and online. He has years of experience in car and home insurance and strives to make these topics easy to understand for everyone. He has a linguistics degree from UC Santa Barbara.
Updated February 28, 2022
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Denver, CO Homeowners Insurance
Denver ’s natural beauty and bustling city atmosphere make the Mile-High City one of the best places to call home. In fact, Colorado ’s capital is rated as the second-best place to live in the U.S., ranking only behind its northern neighbor of Boulder. Whether you were drawn to Colorado by the extraordinary amount of sunshine or the natural beauty of the Rockies, your life in Denver will be nothing short of exceptional.
As great as Denver can be, though, the city still has its fair share of perils, like property crimes and natural disasters. Colorado ’s fire season has destroyed hundreds of homes already this year. Not to mention, Denver is one of the places in the country most prone to hail, with one 2017 hailstorm causing over $2 billion of hail damage in the city.
Denver ’s propensity for storms makes insuring your home that much more important. Insurify makes finding the best homeowners insurance for your Denver home easier than ever. Use Insurify’s home insurance quotes comparison tools to see home insurance companies, coverage options, and insurance quotes side by side and find the perfect home insurance policy for you in just minutes.
Cheapest Home Insurance Companies in Denver
For homeowners in Denver, it's important that you evaluate all of your potential insurance options to ensure you are finding the best rate. Comparing the right insurance companies will allow you to get the best possible insurance rate for your home.
To simplify comparing companies, Insurify has analyzed rates from top insurance providers in Denver. The following are the best insurance rates from carriers that offer homeowners insurance in Denver.
| Cheapest Companies | Quotes The car insurance quotes, statistics, and data visualizations on this page are derived from Insurify’s proprietary database of over 4 million car insurance applications from ZIP codes across the United States. Insurify’s data science team performs a comprehensive analysis of the various factors car insurance providers take into account while setting rates to provide readers insight into how car insurance quotes are priced. |
|---|---|
| AIG | $1,182 |
| Encompass | $1,921 |
| State Auto | $2,131 |
| Travelers | $2,166 |
| Esurance | $2,199 |
How to Find Cheap Home Insurance in Denver
Denver homes can cost upwards of $500,000, which is nearly double the national average home cost. So buying a home in the Mile-High City may be one of the largest financial investments of your lifetime. With investment, inevitably, comes risk. However, there are steps homeowners can take to minimize risk and protect their investments.
The first step to protecting your property is homeowners insurance. Though not required by law, home insurance provides financial liability for your property and belongings from natural disasters or theft and can help cover medical expenses if someone is hurt on your property.
Just because Denver sees nearly 300 days of sunshine per year doesn’t mean Denverites are immune to devastating disasters. You’ll want to make sure your Denver home insurance policy offers all the coverage options you need to protect your home from perils like tornadoes, wildfires, and hailstorms. Different coverage levels are available for different property types, locations, and other factors.
Keep reading for a full guide on Denver home insurance.
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Cheapest Home Insurance in Denver by Company
Homeowners insurance rates aren’t always designed with savings in mind. That’s where Insurify comes in. Our free home insurance comparison tool allows you to find the best policy for the best rate fast. And your information stays private and protected.
As of 2021, the average homeowners insurance premium in Denver costs $2,775 annually, and the median home value is $466,601.
These expenses, paired with Denver ’s living expenses that are nearly 12 percent higher than the national average, add up quickly. But the best home insurance policy doesn’t have to be the most expensive one. Check out the average Colorado home insurance costs with homeowners insurance companies like Allstate, State Farm, and American Home Insurance.
| Average Home Cost in Denver The car insurance quotes, statistics, and data visualizations on this page are derived from Insurify’s proprietary database of over 4 million car insurance applications from ZIP codes across the United States. Insurify’s data science team performs a comprehensive analysis of the various factors car insurance providers take into account while setting rates to provide readers insight into how car insurance quotes are priced. | Average Annual Insurance Premium in Denver The car insurance quotes, statistics, and data visualizations on this page are derived from Insurify’s proprietary database of over 4 million car insurance applications from ZIP codes across the United States. Insurify’s data science team performs a comprehensive analysis of the various factors car insurance providers take into account while setting rates to provide readers insight into how car insurance quotes are priced. |
|---|---|
| $466,601 | $2,775 |
Average Annual Home Insurance Premium in Denver by Company
Average prices for standard homeowners insurance for a 7-15 year old home, $200,000 in coverage
AIG$1,182
Encompass$1,921
State Auto$2,131
Travelers$2,166
Esurance$2,199
USAA$2,242
American Family$2,360
Liberty Mutual$2,530
CSAA$3,409
Farmers$4,831
Cheapest ZIP Codes in Denver for Home Insurance
Home insurance rates in Denver are higher than the average cost of Colorado homeowners insurance. But these costs fluctuate, which is why homeowners in Stapleton often pay more to insure their homes than West Colfax homeowners.
Like property costs, home insurance varies in price from neighborhood to neighborhood. Pricing is determined by ZIP code–specific variables, such as the volume of claims filed nearby, crime rates, and property costs, and risk variables, such as natural disaster frequency.
Rates in Denver are still relatively high compared to the national average, but you may spend more or less on your annual premium, depending on which area you live in.
Home Insurance Coverage Types in Denver
There are several types of home insurance. Specific terms of insurance policies may vary by city, but in general, the standard policy types are as follows:
The simplest and least comprehensive type of homeowners insurance
Provides coverage for a handful of potential problems, including
- Dwelling coverage for damages from some natural disasters (storms, fires, wind, lightning, volcanic eruption),
- explosions,
- theft,
- damage from vehicles,
- or civil commotion.
Broad form homeowners insurance policies include all basic form coverage, plus protection from:
- falling objects,
- damage from the weight of ice, snow, or sleet,
- freezing of household systems including HVAC and pipes,
- sudden and accidental damage to pipes and other household systems from artificially generated electrical current,
- accidental discharge or overflow of water or steam,
- sudden and accidental damage.
HO-2 policies typically cover both dwelling protection and personal property.
In some cases, broad form coverage may also include liability coverage. However, it still only covers the specific damages listed in the policy.
The most common form of homeowners insurance is known as a “special form” policy.
While HO-1 and HO-2 policies are “named peril” policies (meaning they only cover dangers that are specifically listed in the policy), HO-3 policies are “open peril” policies meaning they’ll cover all dangers except those specifically excluded in the policy documents.
HO-4 policies, also known as renters insurance, are for people who lease rather than own their homes.
Tenant’s form policies typically cover all the same dangers as HO-2 policies.
These policies include personal property coverage and liability coverage but don’t cover the physical structure of the house.
Some HO-4 policies may also include loss of use coverage for the tenants.
Comprehensive form policies are usually the broadest and provide the highest level of coverage; not surprisingly, they also tend to be the most expensive type of homeowners insurance policy.
The biggest difference between HO-3 and HO-5 policies is that most HO-3 policies are “actual cash value” policies, whereas typically HO-5 policies are “ replacement cost value” policies.
An actual cash value policy will only reimburse you for the actual value of a damaged or destroyed item, while a replacement cost value policy will reimburse you for however much it would cost to completely replace or repair the damaged or destroyed item (up to the coverage limits on the policy).
HO-5 policies also provide personal property coverage against a wider range of dangers than the typical HO-3 policy. Many HO-5 policies also have extra coverage for high-value personal property, such as jewelry and artwork.
Not surprisingly, condo form insurance is for condominium owners. HO-6 policies generally protect against the same types of dangers as HO-3 policies.
They provide dwelling protection coverage with a twist: HO-6 policies cover the walls, floors, and ceiling of the condo unit but not the rest of the building.
These policies also include personal property and liability coverage and may include loss of use coverage.
If you own a mobile home or manufactured home, you likely have an HO-7 policy.
Mobile home form policies are typically identical to HO-3 policies, except they’re designed specifically for mobile and manufactured homes.
Like HO-3 policies, they provide dwelling protection coverage, other structures coverage, personal property coverage , liability coverage, and possibly loss of use coverage as well.
HO-7 policies generally only protect the home when it’s stationary; if you plan to move your mobile or manufactured home, you’ll need to get a special policy to cover it while it’s in transit.
Older homes have generally been built to less stringent code standards than recently built homes, and so insurers have designed a specialized type of homeowners insurance policy for them.
HO-8 policies often only cover the basic perils listed in HO-1 policies and generally apply to homes that are registered landmarks or otherwise deemed historic homes.
Owners of registered landmarks are typically forbidden from making the updates to HVAC, electrical, and other parts of the home that would enable them to qualify for a standard HO-3 policy, so an HO-8 policy is often the only option for them.
For more detailed Colorado city level guides, check out these below.
Protecting Your Denver Home from Hail Damage
Denver ’s dry climate and proximity to the Rocky Mountains make the city a hotspot for hailstorms. Unfortunately for Denver homeowners, many insurance carriers will list wind and hail damage as exclusions on their insurance policies.
The best way to make sure your home is covered from hail damage is to add a wind and hail deductible to your policy. This means that if you file an insurance claim after a hailstorm, you will be responsible for paying your wind and hail deductible before your insurance provider steps in. While this may seem like an added cost, paying a small deductible could help you save on expensive repair costs in the long run.
You’ll also want to check if your home insurance includes coverage for water damage. Although flooding isn’t a huge concern for many Denverites, your insurance might not cover repair costs if hail causes water damage in your home. Most policies don’t include flood coverage, so the best way to protect your home from water damage is to ask your insurance agent about purchasing an additional flood insurance policy.
Wildfire Coverage for Colorado Residents
This year, Colorado ’s wildfire season has already burned over 650,000 acres of land, the highest number reported since fires scorched roughly 600,000 acres in 2002.
Home insurance policies normally include coverage for fire damage, but insurance agencies might restrict this coverage in areas that regularly experience wildfires.
Since Denver is prone to wildfires, and Colorado fires are more widespread now than ever, you should talk to an insurance agent about your wildfire coverage. If your insurer doesn’t include this coverage in your policy, you may be able to purchase additional fire insurance.
These policies will increase your homeowners insurance cost, but you’re sure to find that the protection and peace of mind are worth every penny.
How to Find the Cheapest Home Insurance in Denver
Life in Denver is mostly blue skies and sunshine, and your home insurance policy is there to protect you when it isn’t. Finding the best homeowners insurance in Denver is quick and easy with Insurify’s comparison tools, so you can get back to hiking the Rockies and enjoying your home stress-free in no time.
Use Insurify to find the best homeowners insurance for your property in Denver.
Frequently Asked Questions
If your home insurance policy includes windstorm coverage, then yes. For homeowners whose policies exclude wind damage, adding wind coverage to your policy will ensure that your home is protected from windstorms, including tornadoes.
The amount of coverage you need depends on factors like your home’s and perils in your area. Any coverage you purchase should fill the gaps in your current home insurance policy. In general, it doesn’t hurt to purchase flood insurance, windstorm coverage, and fire insurance for your Denver home. But the additional coverage you need is specific to your policy’s coverage and exclusions.
Most likely. Home insurance rates are based on specific factors like the age of your home and your credit score. If you’re looking for savings on your home insurance, car insurance, or life insurance policies, bundling your insurance products can help. Homeowners who bundle their policies save up to 20 percent on average.
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