How to find affordable homeowners insurance in Denver
Homeowners insurance is a critical element of homeownership. Fire, vandalism, theft, and wind damage are only a few of the perils from which homeowners insurance can protect your dwelling and other personal belongings. Events like this occur regularly. When paired with the high cost of repairing or rebuilding a home, investing in homeowners coverage can seem like a smart move. The average homeowners policy costs $300 per month in Denver, Colorado. This is more than twice the average American's monthly home insurance payment.
The cost of home insurance 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 information about what a home insurance policy covers.
If you want to find cheap home insurance in Denver, start with looking around and comparing policies. Take a look at the summary below showing average homeowners insurance premiums in Denver to begin your home insurance search with as much information as possible. It's important to remember that the cost of your homeowners insurance is often based on the coverage limits you choose as well as a variety of other factors.
Table of contents:
- Rates by insurer
- Rates by coverage amount
- Rates by ZIP code
- Rates by deductible amount
- Policy bundling savings
Denver home insurance by company
Homeowners insurance rates in Denver vary from one insurance company to another. AAA offers the most affordable home insurance in Denver, at just $1,233 per year. This compares favorably to the city’s average homeowners premium of $2,719.
Below you'll find a list of the cheapest homeowners insurance companies in Denver, Colorado to help you start your search. Then, see our guide discussing the best home insurers ranked by customer satisfaction, third-party ratings, and other factors.
AFFORDABLE HOME INSURERS IN DENVER
| Company | Average Annual Rate |
| AAA | $1,233 |
| Nationwide | $1,520 |
| Liberty Mutual | $1,938 |
| State Farm | $1,959 |
| USAA | $2,163 |
Denver homeowners insurance prices by coverage level
The level of home coverage you select has an impact on your insurance premiums. In Denver, carrying $200K dwelling coverage costs an average of $2,058, while carrying additional coverage up to $400K costs $3,603/year.
POPULAR COVERAGE LIMITS IN DENVER
| Coverage Level | Average Annual Rate |
| $100,000 Dwelling | $1,556 |
| $200,000 Dwelling | $2,058 |
| $250,000 Dwelling | $2,644 |
| $400,000 Dwelling | $3,603 |
Denver home insurance rates by ZIP code
Depending on the part of Denver you live in, you might see vastly different home insurance costs. The number of claims filed in your local area can be a factor in determining the price of your policy. Put simply, your home's location could have a huge impact on what you pay for homeowners coverage.
If you're looking for the cheapest homeowners insurance premiums in Denver, take a look at the 80946 ZIP code. In the 80946 area, homeowners policies typically cost just $2,604 a year, which is a full $115 less than the overall average for Denver. If you’re looking for the areas with the least expensive homeowners insurance in Denver, have a look at the table below.
AFFORDABLE HOME INSURANCE AREAS IN DENVER
| ZIP Code | Average Annual Home Insurance Rate |
| 80946 | $2,604 |
| 80912 | $2,628 |
| 80921 | $2,643 |
On the other hand, some areas of Denver face higher homeowners insurance costs, on average. Such areas might face a higher danger of perils such as severe weather and fires. Similarly, they may also have a higher amount of crimes such as burglary or vandalism. An average annual rate of $2,856 makes 80919 the most expensive ZIP code in Denver for homeowners coverage.
EXPENSIVE HOME INSURANCE AREAS IN DENVER
| ZIP Code | Average Annual Home Insurance Rate |
| 80919 | $2,856 |
| 80922 | $2,837 |
| 80929 | $2,789 |
Denver homeowners insurance deductibles
One of the many choices that you will make when looking at homeowners insurance policies is how high or low to set your deductible. A deductible is an amount for which a homeowner is responsible before an insurance company steps in to cover costs. Where you set your deductible can be a large factor in how much you pay for insurance.
Put simply, having a higher deductible means lower insurance premiums. Therefore, you may want to think about setting a higher deductible if you aim to lock in lower rates. It's worth remembering that your deductible should only be as high as you can reasonably pay in the event of a loss.
Take a look at some of the normal deductibles offered by home insurance companies and an approximation of average homeowners insurance rates.
HOME INSURANCE PREMIUMS BY DEDUCTIBLE LEVEL IN DENVER
| Deductible Level | Average Annual Homeowners Insurance Rate |
| $500 | $2,883 |
| $1,000 | $2,644 |
| $1,500 | $2,455 |
| $2,000 | $2,355 |
| $5,000 | $1,888 |
Home and auto insurance bundling in Denver
If you’re looking for ways to save on your overall insurance costs, consider purchasing your home and auto policies from the same insurance company. Bundling homeowners and auto insurance can save you a substantial sum each month on your auto insurance bill. By bundling your policies, Denver homeowners could see annual savings of 12% on average.
CHEAPEST AUTO INSURANCE RATES WITH A POLICY BUNDLE IN DENVER
| Company | Avg. Annual Auto Insurance Rate (With Bundle) |
| USAA | $1,128 |
| American Family | $1,189 |
| GEICO | $1,217 |
| State Farm | $1,315 |
| Farmers | $1,765 |
