Best Home Insurance in Colorado (2023)

Home Insurance in Colorado

Finding homeowners insurance in Colorado can seem like a hard process with too many options and a lot of decisions to make. It doesn’t have to be frustrating, and it can be affordable when you find cheap homeowners insurance that fits your home’s needs. Colorado homeowners requirements are essential to know, but you’ll learn everything you need to here.

Home Insurance Companies in Colorado

The goal for buying coverage is to find the best home insurance companies in Colorado that offers reliable protection at competitive prices. Top rated homeowners insurance companies in Colorado will work with you to find the proper coverage limits, features, deductibles, and endorsements. Then, you can find homeowners insurance agencies in Colorado with great discounts available. Independent home insurance agents in Colorado may be the best option since they can provide quotes from multiple companies.

How to Get the Best Rates for Home Insurance in Colorado

To get the best rates on insurance, you need to know what your options are. To get started, enter your zip code here. You’ll then have access to the companies available in Colorado.

<zipcode>Find The Cheapest Home Insurance In Your Area:</zipcode>

How Much Does Homeowners Insurance Cost in Colorado?

Most people want the cheapest home insurance in Colorado for their home. The good news is costs tend to be competitive here. The average annual premium in Colorado is $1,388. That’s above the national average of $1,173. Get homeowners insurance quotes in Colorado for your home to get amore accurate figure.

<twitter>The average annual premium in Colorado is $1,388. That’s above the national average of $1,173. </twitter>

List of Homeowners Insurance Companies in Colorado

You can obtain a full list of available insurers in the state by entering your zip code above. It takes just a moment. You’ll then be able to choose who to request a quote from for your home.

How Homeowners Insurance Is Calculated in Colorado

Insurance companies gather data on the risk of each property. Some things, such as the home’s value, size, and features, are very specific to the property. Other things are based on community factors. Here’s a look at some key factors impacting homeowners insurance rates in Colorado.

<qa>1;Crime;Crime is always a factor. The violent crime rate in the state is 3.68 out of 1,000 residents. That’s below the average for the U.S. of 4. The property rate, which relates more to your home’s insurance costs, is 27.02 in Colorado per 1,000 residents. That’s above 24, which is the national average.</qa>

<qa>2;Weather/Climate;How likely is it for your home to suffer damage from a weather-related event? In Colorado, the most common climate risks are extreme heat, drought conditions, and wildlife. It’s possible to deal with storm damage, too. This low risk area helps keep prices more moderate.</qa>

<qa>3;Home Values;Home values in Colorado play a big role in the cost insurance. The median home value here is $376,800 as of March of 2019. That’s significantly about the national average, which is under $150,000. What’s more, home values here are rising. They’ve risen 5.4 percent in the last year.</qa>

Home Insurance Requirements in Colorado

There’s also the importance of the state’s insurance laws and rules. Here are some common questions homeowners have about property insurance here.

Is Homeowners Insurance Required in Colorado?

The state’s laws do not require homeowners insurance if you own real estate. However, if you have a mortgage on your home, your lender does. Your mortgage contract will include these requirements, which makes it illegal to go without it.

What Does Home Insurance Cover?

In Colorado, you get to customize your coverage to fit your needs. The average HO-3 policy includes two components - property protection and liability protection. Property protection covers the structure of your home along with your personal property within it. It covers it from perils such as storm damage and vandalism. The liability component helps protect you if someone files a claim of negligence against you.

Homeowners Insurance for New Properties in Colorado

Home construction in Colorado continues to grow. That’s helped push home values up, causing insurance prices to rise, too. Owners are only required to maintain coverage, though, if they have a loan.

Homeowners Insurance for Old Properties in Colorado

Older homes may not require home insurance if they are paid off. However, the risks are still present. Maintaining coverage is still important here.

Renters Insurance in Colorado

Nearly all renters in Colorado will need to purchase renter’s insurance. It’s not a state law, but nearly all property owners require it to minimize their risks.

Renter’s insurance is very affordable - generally under $50 a month. It protects your personal possessions and liability risks from incidents like fire and theft.

<zipcode>Compare Renters Insurance in Colorado</zipcode>

Compare Home Insurance in Colorado by City

To get the right policy, you need to compare home insurance quotes for your property specifically. However, you can get some idea of what to expect by considering the factors that play a role in costs in the state’s largest cities. The cheapest home insurance in Colorado isn’t always easy to pinpoint.

<qa>1;Home Insurance Quotes in Denver, Colorado;A modern, upscale community, there are 704,621 people living in Denver. Home values here are high with a median home value of $427,300.</qa>

<qa>1;Home Insurance Quotes in Colorado Springs, Colorado;Known for its quality of life and beautiful natural scenery, Colorado Springs is a large city with 464,474 residents. The median home value here is about $292,000, but keep in mind home values have risen 9 percent in the last year alone.</qa>

<qa>1;Home Insurance Quotes in Aurora, Colorado;An up-and-coming community with a rich history, Aurora has 366,623 residents. Home values here are higher at $325,300.</qa>

<qa>1;Home Insurance Quotes in Fort Collins, Colorado;This area is seeing significant development and growth. Right now, it’s home to 165,080 people. The median home value here is $389,600.</qa>

<qa>1;Home Insurance Quotes in Lakewood, Colorado;This beautiful city is home to 154,958 people and is also a fast-growing area. Home values here are growing due to new development. The median is $409,900.</qa>

Bonus: Most Expensive Homes in Colorado

You may not want to pay for home insurance on the most expensive homes in Colorado. Here’s the top 5:

• 1690 Derby Mesa Loop in Burns is valued at $100 million with incredible scenery.
• The home at 1220 Watson Divide Road in Snowmass is valued at $50 million and has seven bedrooms.
• Choose the home at 22110 County Road 8 in Meeker, with over 19,000 square feet with a value of $46 million.

<resources>https://www.reviews.com/homeowners-insurance/%20colorado/;https://www.neighborhoodscout.com/co/crime;http://statesatrisk.org/colorado;https://www.zillow.com/co/home-values/;http://www.citypopulation.de/USA-Colorado.html</resources>