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Colorado Homeowners Insurance Quotes (2023)
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Written by
Tanveen Vohra
Editorial Manager
Tanveen Vohra is an editorial manager at Insurify specializing in writing about property and casualty insurance. Through her work, Tanveen helps consumers better understand the components of their insurance policies so they can make smarter purchase decisions.Tanveen's work has been cited by CNBC , Fox Business, Business Insider, Fortune, and Market Watch, among others.
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 25, 2022
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Average Cost of Home Insurance in Colorado
According to 2021 rates, the average cost of homeowners insurance in Colorado is $2263 per year and $189 per month. Colorado homeowners insurance rates are $865 per year more then the national average and about 62% moreannually. When compared to the other US states that makes the cost of homeowners insurance in Colorado the 4th most expensive in the country, based on 2021 data.
For shoppers, the best way to find a homeowners insurance policy in Colorado is to evaluate all of the quotes from individual insurance providers and then decide on the policy that fits your requirements and budget level. Fortunately finding the right homeowners insurance coverage is easy with a tool like Insurify.
Insurify provides easy and fast home insurance quote comparisons for all kinds of homeowners nationwide. Insurify has helped thousands of customers receive accurate homeowners quotes for your property in Colorado in minutes.
| Colorado Average Homeowners Insurance Rates 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 Cost Per Month | $189 |
| Average Annual Premium | $2263 |
| State Rank (Most Expensive) | 4th |
Cheapest Home Insurance Companies in Colorado
For homeowners in Colorado, 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 Colorado. The following are the best insurance rates from carriers that offer homeowners insurance in Colorado.
| 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. |
|---|---|
| Allstate | $2,299 |
| Liberty Mutual | $2,084 |
| Travelers | $1,718 |
| USAA | $1,808 |
| Farmers | $2,003 |
How to Get Affordable Home Insurance in Colorado
Your home is one of the largest financial investments you’ll make during your lifetime. With investment, inevitably, comes risk. However, there are steps homeowners can take e to minimize risk and protect their investment.
Homeowners insurance is the first and most important step to protect your property. Though not required by law, home insurance provides financial liability for your property and belongings from natural disasters or theft. For the best protection, look at different coverage options to find the best policy based on your property type, location, and other factors.
Keep reading for a full guide on Colorado home insurance.
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Colorado Homeowners Insurance Rates by Company
Homeowners insurance rates aren’t always designed with savings in mind. That’s where Insurify comes in.
As of 2021, the average home insurance premium in Colorado costs $2,809 annually, and the median home value is $348,900.
That’s a pretty penny. How can you be expected to pay these costs (vital as they are) and still provide for you and your family?
Before you decide on a higher deductible or settle for less insurance than you need to lower your insurance premium, take a few minutes to shop around for the best rates with Insurify.
Average Annual Home Insurance Premium in Colorado by Company
Average prices for standard homeowners insurance for a 7-15 year old home, $200,000 in coverage
Nationwide$1,703
Travelers$1,718
USAA$1,808
Farmers$2,003
Liberty Mutual$2,084
Allstate$2,299
Home Insurance Rates in Colorado Cities
The location of your home is a significant factor in how much you’ll pay for home insurance. Like property costs, home insurance varies in price from city to city. Pricing is determined by ZIP code–specific variables such as the volume of claims filed nearby, crime rates, property costs, and risk variables, such as natural disaster frequency. Even your specific neighborhood within a city like Denver or Colorado Springs may determine if you pay more or less on your annual premiums.
Rates in Colorado can be relatively high or low compared to the national average; it all depends on which town you live in. Here are the most and least expensive Colorado ZIP codes in which to insure a home.
| City | Average Annual Cost 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. |
|---|---|
| Alamaso | $1,732 |
| Arvada | $2,625 |
| Aurora | $2,806 |
| Boulder | $2,369 |
| Colorado Springs | $2,846 |
| Denver | $2,775 |
| Fort Collins | $2,179 |
| Grand Junction | $1,363 |
| Steamboat Springs | $1,506 |
What does home insurance cover in Colorado?
There are several types of home insurance. Specific terms of insurance policies may vary by state, 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:
- Natural disasters (storms, fires, wind lightning, volcanic eruption)
- Explosions
- Theft
- Damage from vehicles
- 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
- 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.
- 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 policies.
- 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 to 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.
Mobile Home Coverage in Colorado
More than 100,000 people make their homes in the over 900 mobile home parks in Colorado. However, insurance coverage for mobile homes presents unique challenges for homeowners. They’re lighter than traditional homes, making them more susceptible to damage from high winds or other natural disasters.
For mobile home owners, insurance is necessary to mitigate the risk of property damage, personal liability protection, and loss or theft of personal belongings. The best homeowners insurance for mobile home dwelling coverage is an HO-7 policy because it’s tailored for mobile and manufactured homes.
If the policy price is a concern, a few simple strategies can help lower the cost of mobile home insurance in Colorado. First, comparing policies from multiple companies with Insurify can help you get a lower rate. Strap the manufactured home to the ground or permanently affix it to a foundation to prevent high-wind damage. You may also want to install a security fence and use smoke detectors and burglar alarms, which can lead to home insurance policy discounts.
Natural Disasters and Home Insurance Coverage
Despite a pristine landscape and the gorgeous backdrop of the Rocky Mountains, Colorado homeowners can face many natural disasters depending on the location of their home. Because risk is a factor in how much you’ll pay for a homeowners policy, the higher chance of a natural disaster, the higher your premium can be.
In September and October, homes are especially prone to snowstorm damage. The weight of heavy, wet snow early in the season can cause trees to fall, damaging power lines, homes, fences, and vehicles. Your home could also suffer water damage from flooding, thunderstorms, hailstorms, tornadoes, and wildfires.
Still, home insurance is your best line of defense against the effects of damage from natural disasters.
Special Home Insurance Situations in Colorado
Unique elements of your home may affect homeowners insurance prices. Check out these quotes for some special situations that may impact your home insurance in Colorado.
Cheapest Home Insurance for Houses Near Fire Department in Colorado
If your home is within a certain distance from a fire department or fire hydrant your rates may decrease. The same applies for the opposite. If your home is far from fire safety, you may pay more for homeowners insurance.
| Insurance Company | Average Annual Premium 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. |
|---|---|
| Allied | $3,925 |
| American Family | $1,493 |
| Shelter | $1,761 |
| USAA | $1,558 |
Cheapest Home Insurance for Houses Less Than 20 Years Old in Colorado
The age of your home and its major systems may affect the policy rate you're quoted by insurance companies
| Insurance Company | Average Annual Premium 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. |
|---|---|
| Grange | $1,271 |
| Shelter | $1,761 |
| Unitrin | $1,521 |
| Travelers | $1,561 |
Colorado homeowners can ski their way to savings.
How to Find the Cheapest Home Insurance in Colorado
Just like groceries or clothes, you can find a good bargain on home insurance. With a little research and the right tools, you’ll be on your way to big savings.
Use Insurify to find the best home insurance providers for your property in Colorado.
Frequently Asked Questions
No matter where you live, catastrophes play a role in the cost of homeowners insurance premiums. Colorado saw a 54 percent increase in catastrophe-related homeowners claim payments from 2009 to 2013. The high rate of claims and payouts related to natural disasters has a significant impact on Colorado’s average cost of insurance.
Yes, USAA insures homes in Colorado. However, premiums tend to be more expensive than other homeowners insurance companies and policyholders must be active military members, veterans, or the family members of those in the armed forces.
Short answer: it depends. Of course, in times of crisis, like hailstorms or flooding, many of your neighbors will also file claims with their insurance companies, crowding the systems, and slowing down the claims process. The time it takes to file a claim for a covered loss in Colorado will vary from case to case. To find the best home insurance companies in your area, use Insurify to compare reviews and quotes.
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