Colorado Springs, CO Homeowners Insurance

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Find affordable home insurance in Colorado Springs

 

Home insurance is an important investment for any homeowner. Home insurance policies provide coverage against fire, wind damage, and theft for your home and the contents inside it. With the relative frequency of such incidents -- along with the high cost of rebuilding or repairing a home -- obtaining homeowners insurance is a smart investment.

The cost of homeowners insurance coverage depends on myriad factors, including the value of the dwelling, the value of your personal items, and the materials used to construct the home. Your home's location can also impact how much you pay, as some locations are more prone to destructive hazards. If your area is at risk of being affected by hail, strong winds, fire, frozen pipes, or volcanic activity, then your premiums could be substantially higher than average. Discover more info about what is covered by a homeowners insurance policy.

If you want to find cheap home insurance in Colorado Springs, start with shopping around and comparing different policies. Have a look at the summary below comparing average homeowners insurance rates in Colorado Springs to help you get as much information as possible when you start your search for homeowners insurance. Remember: your homeowners insurance rates may vary based on your coverage limits and other factors.

 
Colorado Springs, Colorado, homeowners insurance — contents:
  1. Rates by insurance company
  2. Rates by coverage amount
  3. Rates by ZIP code
  4. Rates by deductible amount
  5. Policy bundling discounts
 

 

Homeowners insurance in Colorado Springs by company

Colorado Springs homeowners insurance rates will vary depending on which insurance company you choose. The most inexpensive home insurance in Colorado Springs comes from AAA, which offers average annual rates of just $1,233 per year. This is more favorable than the city’s average home insurance premium of $2,719.

Take a look at the cheapest insurance companies in Colorado Springs, Colorado to find the best homeowners policy for you.

 
AFFORDABLE HOMEOWNERS INSURANCE COMPANIES IN COLORADO SPRINGS
CompanyAverage Annual Rate
AAA$1,233
Nationwide$1,520
Liberty$1,938
State Farm$1,959
USAA$2,163
 

 

Average home insurance costs in Colorado Springs by coverage levels

Your chosen amount of homeowners coverage has an impact on the insurance premiums you pay. In Colorado Springs, carrying $200K dwelling coverage costs an average of $2,058, while carrying additional coverage up to $400K costs $3,603/year.

 
HOMEOWNERS INSURANCE RATES IN COLORADO SPRINGS — POPULAR COVERAGE LIMITS
Coverage LevelAverage Annual Rate
$100K Dwelling$1,556
$200K Dwelling$2,058
$250K Dwelling$2,644
$400K Dwelling$3,603
 

 

Colorado Springs homeowners insurance rates by ZIP code

Not every area of Colorado Springs has equal home insurance costs. One of the factors that insurers use when pricing your policy is the number of claims filed in your surrounding area. As such, the neighborhood you live in can dramatically influence your home insurance premium.

If you're looking for the cheapest homeowners insurance premiums in Colorado Springs, take a look at the 80946 ZIP code. In the 80946 area, homeowners policies typically cost just $2,604 per year, which is a full $115 less than the overall average for Colorado Springs. The below table shows the best places to live in Colorado Springs if you’re looking for affordable homeowners insurance.

 
AFFORDABLE AREAS FOR HOMEOWNERS INSURANCE IN COLORADO SPRINGS
ZIP CodeAverage Annual Home Insurance Rate
80946$2,604
80912$2,628
80921$2,643

Some parts of Colorado Springs, however, are prone to homeowners insurance premiums that are higher on 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 80919, with an annual average rate of $2,856.

 
EXPENSIVE AREAS FOR HOMEOWNERS INSURANCE IN COLORADO SPRINGS
ZIP CodeAverage Annual Home Insurance Rate
80919$2,856
80922$2,837
80929$2,789
 

 

Homeowners insurance deductibles in Colorado Springs

One of the decisions to be made when shopping for homeowners policies is how high or low to set your deductible. A deductible is the amount for which a homeowner is responsible before the insurer will cover a claim. Choosing where to set your deductible plays a significant role in how much you pay for your coverage.

On the whole, having a lower deductible means that your insurance premiums will be higher. Therefore, you may want to think about setting a higher deductible if you are hoping to pay lower home insurance premiums. 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 popular deductible options offered on most home policies alongside corresponding average insurance premiums.

 
HOME INSURANCE COSTS BY DEDUCTIBLE TIER IN COLORADO SPRINGS
Deductible LevelAverage Annual Home Insurance Rate
$500$2,883
$1,000$2,644
$1,500$2,455
$2,000$2,355
$5,000$1,888
 

 

Money-saving tip: bundle home and auto insurance in Colorado Springs

If you’re seeking ways to save on your overall insurance costs, consider purchasing your home and auto policies from the same insurance company. Bundling your homeowners and auto insurance can save you a substantial sum each month on your auto insurance bill. By bundling your policies, Colorado Springs homeowners could see annual savings of 12% on average.

 
CHEAPEST AUTO INSURANCE RATES WITH A POLICY BUNDLE IN COLORADO SPRINGS
CompanyAvg. Annual Auto Insurance Rate (With Bundle)
USAA$1,128
American Family$1,189
GEICO$1,217
State Farm$1,315
Farmers$1,765
 

Bundling your homeowners and auto policies can be a great way to save some money on insurance.

 

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Ross Martin LinkedIn

As a licensed insurance agent, Ross is responsible for researching and writing about all matters related to auto and home insurance. He has a background in writing and education, as well as a masters degree from Royal Holloway, University of London. He has been quoted by Kin Insurance, Safety.com, and autoinsuranceEZ.com.