Learn more about renters insurance in Colorado.Get Renters Insurance
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.
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.
|Company||Average Annual Rate in Colorado|
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.
|City||Average Yearly Renters Insurance Rate|
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|
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 $99.
|Avg. Annual Rate (No Bundle)||Avg. Annual Rate (w/ Bundle)||Annual Savings ($)||Annual Savings (%)|
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.
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.