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How to get affordable renters insurance in Colorado
Renters insurance is a critical — and affordable — form of insurance. It keeps your things safe in the event your rental property suffers damage from a common incident. A renters insurance policy protects items in the event of smoke or fire damage, a wind storm, vandalism, theft and a collection of other calamities.
Unlike auto insurance, renters insurance isn't governed by state legislation. Regardless, there are often differences in renters insurance prices from state to state. Renters insurance costs by state vary depending on the number and value of renters policy claims filed in that particular state, and also on the value of the belongings being insured.
Colorado renters insurance is less expensive than the US average. The typical annual renters insurance rate in Colorado is $175, $10 less expensive than the average across America.
The easiest way to get affordable renters insurance in Colorado is to view prices from multiple insurance companies. Get an idea of typical renters insurance rates in Colorado by referencing the below tables. Remember: your rates may differ, depending on your coverage limits and the valuation of your belongings.
- Rates by company
- Rates by city
- Rates by coverage level
- Bundling discounts
- Frequently asked questions
Renters insurance prices in Colorado by company
Renters insurance prices in Colorado can vary based on the insurance company you choose. State Farm offers the best deal on renters policies in Colorado — $127 per year. This is less than the state average cost of $175, providing a 27% price break on average policy costs statewide.
Start looking for a renters policy by reviewing the cheapest Colorado renters insurance carriers, listed below.
AFFORDABLE RENTERS INSURANCE COMPANIES IN COLORADO
|Company||Average Annual Rate in Colorado|
Colorado renters insurance costs by city
Renters insurance rates in Colorado vary depending on the city. Rates depend on city-specific variables, such as the number of local claims filed, meaning your specific ZIP code impact how much you pay.
The cheapest renters insurance rates in Colorado are available in Longmont. In Longmont, the typical renters insurance policy costs $164 annually — $11 less than the average policy in other Colorado cities. Reference the below table to see the cheapest cities in Colorado for renters insurance.
CHEAPEST CITIES FOR RENTERS INSURANCE IN COLORADO
|City||Average Yearly Renters Insurance Rate|
Looking for information about renters insurance for a specific city? Check out our listof the biggest cities in Colorado.
Renters insurance in CO by coverage tier
The cost of your renters insurance depends on the amount of coverage you carry. Common renters insurance tiers are $25,000 and $50,000 property coverage. In Colorado, the annual cost differential between these levels is approximately $43. If you can afford the up-front expense, it's worth considering.
|Coverage Level||Average Yearly Renters Insurance Rate in Colorado|
Tip: bundle auto and renters insurance in Colorado
If you want to save on insurance, consider purchasing your renters and auto policies from the same insurance company. Bundling renters and auto insurance in Colorado can save you a substantial sum each month on auto insurance. Bundling policies in Colorado results in yearly savings of $99.
CAR AND RENTERS BUNDLING DISCOUNTS IN COLORADO
|Avg. Annual Rate (No Bundle)||Avg. Annual Rate (w/ Bundle)||Annual Savings ($)||Annual Savings (%)|
Colorado renters insurance FAQs
Is renters insurance required in Colorado?
You're not required to carry renters coverage in Colorado unless the building you're renting does. Otherwise, it is an optional (but recommended) coverage.
What does Colorado renters insurance cover?
This can vary based on your individual needs and company coverage options. Usually, it includes coverage for your contents, liability, medical payments to others, and additional living expenses.
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.
- The Zebra’s insurance content is written and reviewed for accuracy by licensed insurance agents.
- The Zebra’s insurance content is not subject to review or alteration by insurance companies or partners.
- The Zebra’s editorial team operates independently of the company’s partnerships and commercialization interests, publishing unbiased information for consumer benefit.
- The auto insurance rates published on The Zebra’s pages are based on a comprehensive analysis of car insurance pricing data, evaluating more than 83 million insurance rates from across the United States.