Colorado Homeowners Insurance

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How to find inexpensive homeowners insurance in Colorado


Home insurance is an optional — but important — product that works to keep your belongings safe in the event your home suffers damage from common incidents. Home insurance covers your house and property in the event of a variety of circumstances, including theft, fire, vandalism, or wind damage.

Unlike car insurance, homeowners insurance isn't priced based on state-level legislation. Even so, major gaps exist in home insurance costs from state to state. Policy rates in a given state vary depending on the number of — and value of — home insurance claims filed in that state, and depend on the value of the dwelling and belongings being insured.

The easiest way to get affordable homeowners insurance in Colorado is to view prices from multiple insurance companies. Find out typical homeowners insurance rates in Colorado by referencing the below tables. Remember: your rates may differ, depending on your coverage limits.


Colorado home insurance:
  1. By company
  2. By city
  3. Bundling home and auto insurance
  4. FAQs

Homeowners insurance rates in Colorado by insurer

Home insurance prices in Colorado vary depending on the insurer you use. Owners Insurance Company provides the most affordable home insurance in Colorado, at just $1,094 each year. This compares favorably to the state average rate of $2,412, providing a $1,318 price break on rates typical to the state.

Begin your search for affordable homeowners coverage by reviewing the cheapest Colorado insurance companies, listed below.


HOME INSURANCE RATES IN COLORADO: BY COMPANY
CompanyAverage Yearly Rate in Colorado
Owners Insurance Company$1,094.00
Safeco$1,178.66
Nationwide$1,289.95
Great Northern$1,451.99
Shelter$1,894.43

Colorado home insurance prices: by city

Homeowners insurance rates in Colorado differ by city. Rates depend on local variables such as the number of homeowners claims filed nearby, meaning your specific ZIP code impact how much you pay.

The most affordable home insurance rates in Colorado are in Grand Junction. The average home insurance policy in Grand Junction costs only $1,269 per year — $1,142 less than the statewide average. The below cities have the most affordable homeowners insurance in Colorado.


AFFORDABLE HOME INSURANCE BY CITY IN COLORADO
CityAverage Annual Home Insurance Rate
Grand Junction$1,269.49
Fort Collins$1,979.04
Loveland$1,996.39
Boulder$2,119.80
Longmont$2,144.92

Colorado insurance bundling discounts: home and auto

If you want to save on insurance, consider purchasing both your home and auto insurance policies from one company. Bundling auto and home insurance in Colorado can save you a substantial sum each month on your auto insurance bill. Bundling policies in Colorado leads to a yearly savings of $160.


HOME AND AUTO INSURANCE BUNDLING DISCOUNTS IN COLORADO
Avg. Yearly Auto Insurance Rate (No Bundle)Avg. Annual Auto Insurance Rate (Bundle)Annual Bundle SavingsBundle Savings %
$1,631.00$1,471.00$160.0011%

A great way to save is to bundle your auto and homeowners insurance policies. Compare rates today!


Seeking information on homeowners insurance in a specific city? Check out our breakdown of significant Colorado cities:

  1. Aurora
  2. Colorado Springs
  3. Denver

Colorado home insurance FAQs


Why is homeowners insurance so expensive in Colorado?

Insurance premiums are reflective of risk. In Colorado, the threat of wildfires, price of homes, population, etc., all make home insurance premiums more expensive than average.

Is homeowners insurance mandatory in Colorado?

Home insurance will be required by your mortgage in Colorado. If you don't have a mortgage, it's still encouraged to insure your home and your personal contents to protect your assets.

Does Liberty Mutual insure manufactured homes in Colorado?

Liberty Mutual provides mobile, not manufactored homes in Colorado through Assurant. Outside of this, they do not have a product.


Homeowners insurance and tornadoes in Colorado

A tornado can strike with precious little warning. There is little you can do to protect yourself and the outcomes can be catastrophic. As such, it's important to protect your home against tornado damage in Colorado, which suffers an average of 49 tornadoes each year.*

Tornado damage comes primarily in the form of wind, so verify your homeowners policy has windstorm coverage, a standard feature of any average homeowners policy.

The exterior and overall structure of the building are covered by wind protection. However, depending on the type of policy you have, damage to the building's interior may only be covered if it's caused by exterior damage, like a tree branch breaking a window. Detached structures are also covered, typically about 10% of the amount at which the home is insured. Keep in mind that other damages the storm causes may not be covered by insurance. For example, if your home is damaged from flooding that occurs from the same storm that produces the tornado, those damages won't be covered unless you've previously added flood insurance to your policy.

*Source: NOAA'S National Weather Service (https://www.spc.noaa.gov/gis/svrgis/)


Homeowners insurance and hail in Colorado

Depending on your location, hail could be a common side effect of stormy weather conditions and can lead to varying degrees of destruction to your property. In Colorado, homeowners policies typically come with hail coverage to insure the structure of your home if it suffers damages in a hail event.

If your home is in an area that’s very prone to hail — such as Colorado, which underwent 332 incidents of hail in 2018* — it's smart to confirm the details of your homeowners policy to see exactly what's covered and what's not — some insurers charge steeper deductibles in hail-prone regions and won't cover cosmetic damage, so if your home is battered but still functionally sound despite aesthetic flaws caused by a hailstorm, your insurance company will probably refuse to pay for its repair.

*Source: Insurance Information Institute (https://www.iii.org/fact-statistic/facts-statistics-hail)


Does home insurance cover damage from fires inColorado?

Homeowners insurance covers fire damage in Colorado.If yourhomeweredestroyed or damagedby a fire,your insurance company would cover the damage to your property up to your policy limits. The prevalence of wildfires inColorado underlines the importance of maintaining home insurance: 17% of houses in the state are in danger of sustaining wildfire damage, and475, 803of the state's acres fell victim to fires in the state in 2018.*

In addition to covering damages — up to your coverage limits — your homeowners insurance policy could pay for your additional living expenses if your home is uninhabitable. Fire-related damage that will not be covered by your home insurance provider is intentional damage (arson) or damage to a vacant home.

*Source: Insurance Information Institute (https://www.iii.org/fact-statistic/facts-statistics-wildfires)




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