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How to find affordable homeowners insurance in Colorado Springs

Among the most important aspects of owning a home is homeowners insurance. Along with personal property, homeowners insurance covers your dwelling against many different perils, including fire, wind damage, vandalism, and theft. Incidents like this occur frequently. When paired with the high cost of repairing or rebuilding a home, investing in homeowners coverage can seem like a great move. The average homeowners policy costs $229 per month in Colorado Springs, Colorado. This is higher than the average American's monthly home insurance payment

The price of a home insurance policy depends on myriad factors, including the value of the dwelling, the value of your personal items, and the materials used to construct the home. The location of your home also contributes to the price of your homeowners insurance policy. In areas prone to perils like hail, frozen pipes, volcanoes, or fire, home insurance rates may be higher to account for the extra risk. Learn more info about the specifics of home insurance coverage.

If you want to find cheaper home insurance coverage in Colorado Springs, start with shopping around and comparing policies. Take a look at the summary below showing average home insurance rates in Colorado Springs to begin your home insurance search with as much info as you can. One thing to note is that the yearly cost of homeowners coverage is determined based on your chosen coverage limits as well as a number of other rating factors.

 

Table of contents:
  1. Rates by insurer
  2. Rates by coverage amount
  3. Rates by ZIP code
  4. Rates by deductible amount
  5. Policy bundling savings

 

Colorado Springs home insurance by company

What you pay for homeowners insurance in Colorado Springs will depend on the insurance company you get your policy through. The most affordable home insurance in Colorado Springs is AAA offering average annual rates at just $1,138 per year. This is considerably cheaper than the city’s average homeowners premium of $2,745.

To get started with your homeowners insurance policy search, take a look at this list of the cheapest home insurers in Colorado Springs, Colorado. You can also check out our guide to the best homeowners insurance companies based on the results of The Zebra's Customer Satisfaction Survey.

 

AFFORDABLE HOME INSURERS IN COLORADO SPRINGS
Company Average Annual Rate
AAA $1,138
Nationwide $1,683
Liberty Mutual $1,973
State Farm $2,100
USAA $2,325

 

Aurora homeowners insurance prices by coverage level

The amount of homeowners coverage you select has an impact on your insurance rates. In Colorado Springs, carrying $200K dwelling coverage costs an average of $2,065, while carrying additional coverage up to $400K costs $3,669 per year.

 

POPULAR COVERAGE LIMITS IN AURORA
Coverage Level Average Annual Rate
$100K Dwelling $1,573
$200K Dwelling $2,065
$250K Dwelling $2,691
$400K Dwelling $3,669

 

Colorado Springs home insurance rates by ZIP code

Not every area of Colorado Springs has equal home insurance premiums. The amount of claims filed in your local area can be a factor in determining the price of your policy. Put simply, where you live could have a huge impact in what you pay for homeowners coverage.

To find the most affordable home insurance rates in Colorado Springs, look no further than 80019. In the 80019 area, homeowners coverage usually costs just $2,705 per year — a full $40 less than the Colorado Springs average. Find the best places to live in Colorado Springs for cheap home insurance by looking at the table below.

 

AFFORDABLE HOME INSURANCE AREAS IN COLORADO SPRINGS
ZIP Code Average Annual Home Insurance Rate
80019 $2,705
80012 $2,705
80013 $2,709

Other areas of Colorado Springs, it should be noted, face homeowners rates that are higher than the city average. These areas of the city could be more susceptible to perils such as theft, severe weather, or fires that present more risk for insurance companies. One of the costliest ZIP codes for homeowners coverage in Colorado Springs is 80018, with an annual average rate of $2,799.

 

EXPENSIVE HOME INSURANCE AREAS IN COLORADO SPRINGS
ZIP Code Average Annual Home Insurance Rate
80018 $2,799
80047 $2,781
80247 $2,776

 

Colorado Springs homeowners insurance deductibles

One of the multiple decisions to be made when looking at home insurance policies is where to set your deductible. A deductible is the total amount that the insured must contribute toward a covered loss. Where you choose to set your homeowners deductible is linked to how much you will pay for insurance.

When considering your homeowners deductible, a good rule of thumb is that the lower your deductible, the higher your premiums. Therefore, if you need your home insurance rates to be lower, you'll need to increase your deductible. Bear in mind that your homeowners deductible should not be so high that you would struggle to pay it in the event of a loss.

Below you'll find some standard deductibles offered on most home policies alongside with corresponding average insurance costs.

 

HOME INSURANCE PREMIUMS BY DEDUCTIBLE LEVEL IN COLORADO SPRINGS
Deductible Level Average Annual Homeowners Insurance Rate
$500 $2,931
$1,000 $2,691
$1,500 $2,495
$2,000 $2,397
$5,000 $1,897


Home and auto insurance bundling in Colorado Springs

If saving money is something you are worried about, it might be worth insuring your home and auto through the same insurance company. Bundling home and auto insurance is one way to save substantially on your monthly car insurance premiums. By bundling your policies, Colorado Springs homeowners could see annual savings of 13% on average.

 

CHEAPEST CAR INSURANCE RATES WITH HOME BUNDLE IN COLORADO SPRINGS
Company Avg. Annual Auto Insurance Rate (With Bundle)
USAA $1,107
GEICO $1,195
State Farm $1,371
American Family $1,404
Farmers $1,739

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Ross Martin photo
Ross MartinManager, Content Quality

Ross joined The Zebra as a writer and researcher in 2019. As a licensed insurance agent, he specializes in writing insurance content to help shoppers make informed decisions.

Ross holds a master's degree from Royal Holloway, University of London and has a background in copywriting and education. As a former teacher, he applies his educational skills to explain insurance concepts in ways that consumers can understand.

Ross's work has been cited by The New York Times, AxiosInvestopedia, The Simple DollarThe BalanceCar and Driver and Fox Business. He has been quoted by CNET, I Drive Safely and Kin Insurance

About The Zebra

The Zebra is not an insurance company. We publish data-backed, expert-reviewed resources to help consumers make more informed insurance decisions.