Best and Cheapest Home Insurance Quotes in Colorado (2021)

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Colorado Average Cost of Homeowners Insurance Rates (2021)

According to 2021 rates, the average cost of homeowners insurance in Colorado is $2263 per year and $189 per month. Colorado homeowners insurance rates are $865 per year more then the national average and about 62% moreannually. When compared to the other US states that makes the cost of homeowners insurance in Colorado the 4th most expensive in the country, based on 2021 data.

For shoppers, the best way to find a homeowners insurance policy in Colorado is to evaluate all of the quotes from individual insurance providers and then decide on the policy that fits your requirements and budget level. Fortunately finding the right homeowners insurance coverage is easy with a tool like Insurify.

Insurify provides easy and fast home insurance quote comparisons for all kinds of homeowners nationwide. Insurify has helped thousands of customers receive accurate homeowners quotes for your property in Colorado in minutes.

Average Cost Per Month$189
Average Annual Premium$2263
State Rank (Most Expensive)4th

Cheapest Insurance Companies for Homeowners in Colorado (2021)

For homeowners in Colorado, it's important that you evaluate all of your potential insurance options to ensure you are finding the best rate. Comparing the right insurance companies will allow you to get the best possible insurance rate for your home.

To simplify comparing companies, Insurify has analyzed rates from top insurance providers in Colorado. The following are the best insurance rates from carriers that offer homeowners insurance in Colorado.

Cheapest Companies
allstate

Allstate

$2,299/yr
liberty-mutual

Liberty Mutual

$2,084/yr
travelers

Travelers

$1,718/yr
usaa

USAA

$1,808/yr
farmers

Farmers

$2,003/yr

How to Get Affordable Home Insurance in Colorado

Your home is one of the largest financial investments you’ll make during your lifetime. With investment, inevitably, comes risk. However, there are steps homeowners can take e to minimize risk and protect their investment. 

Homeowners insurance is the first and most important step to protect your property. Though not required by law, home insurance provides financial liability for your property and belongings from natural disasters or theft. For the best protection, look at different coverage options to find the best policy based on your property type, location, and other factors. 

Keep reading for a full guide on Colorado home insurance.

Homeowners Insurance Quotes in Colorado by Company

Homeowners insurance rates aren’t always designed with savings in mind. That’s where Insurify comes in.

As of 2021, the average home insurance premium in Colorado costs $2,809 annually, and the median home value is $348,900. 

That’s a pretty penny. How can you be expected to pay these costs (vital as they are) and still provide for you and your family? 

Before you decide on a higher deductible or settle for less insurance than you need to lower your insurance premium, take a few minutes to shop around for the best rates with Insurify.

Average Annual Homeowners Insurance Premium in Colorado by Company

Average prices for standard homeowners insurance for a 7-15 year old home, $200,000 in coverage

  • Average Annual Cost

Home Insurance Rates in Colorado by City

The location of your home is a significant factor in how much you’ll pay for home insurance. Like property costs, home insurance varies in price from city to city. Pricing is determined by ZIP code–specific variables such as the volume of claims filed nearby, crime rates, property costs, and risk variables, such as natural disaster frequency. Even your specific neighborhood within a city like Denver or Colorado Springs may determine if you pay more or less on your annual premiums. 

Rates in Colorado can be relatively high or low compared to the national average; it all depends on which town you live in. Here are the most and least expensive Colorado ZIP codes in which to insure a home.

City
Alamaso$1,732
Arvada$2,625
Aurora$2,806
Boulder$2,369
Colorado Springs$2,846
Denver$2,775
Fort Collins$2,179
Grand Junction$1,363
Steamboat Springs$1,506

What Does Home Insurance Cover in Colorado?

There are several types of home insurance. Specific terms of insurance policies may vary by state, but in general, the standard policy types are as follows:

HO-1: Basic
HO-2: Broad Form
HO-3: Special Form
HO-4: Tenant’s Form
HO-5: Comprehensive
HO-6: Condo Form
HO-7: Mobile Home Form
HO-8: Older Home

For more detailed Colorado city level guides, check out these below.

Mobile Home Coverage in Colorado

More than 100,000 people make their homes in the over 900 mobile home parks in Colorado. However, insurance coverage for mobile homes presents unique challenges for homeowners. They’re lighter than traditional homes, making them more susceptible to damage from high winds or other natural disasters. 

For mobile home owners, insurance is necessary to mitigate the risk of property damage, personal liability protection, and loss or theft of personal belongings. The best homeowners insurance for mobile home dwelling coverage is an HO-7 policy because it’s tailored for mobile and manufactured homes.

If the policy price is a concern, a few simple strategies can help lower the cost of mobile home insurance in Colorado. First, comparing policies from multiple companies with Insurify can help you get a lower rate. Strap the manufactured home to the ground or permanently affix it to a foundation to prevent high-wind damage. You may also want to install a security fence and use smoke detectors and burglar alarms, which can lead to home insurance policy discounts.

Natural Disasters and Home Insurance Coverage

Despite a pristine landscape and the gorgeous backdrop of the Rocky Mountains, Colorado homeowners can face many natural disasters depending on the location of their home. Because risk is a factor in how much you’ll pay for a homeowners policy, the higher chance of a natural disaster, the higher your premium can be.

In September and October, homes are especially prone to snowstorm damage. The weight of heavy, wet snow early in the season can cause trees to fall, damaging power lines, homes, fences, and vehicles. Your home could also suffer water damage from flooding, thunderstorms, hailstorms, tornadoes, and wildfires.

Still, home insurance is your best line of defense against the effects of damage from natural disasters.

Learn More

Special Home Insurance Situations in Colorado

Unique elements of your home may affect homeowners insurance prices. Check out these quotes for some special situations that may impact your home insurance in Colorado.

Cheapest Home Insurance for Houses Near Fire Department in Colorado

If your home is within a certain distance from a fire department or fire hydrant your rates may decrease. The same applies for the opposite. If your home is far from fire safety, you may pay more for homeowners insurance.

Insurance Company
Allied$3,925
American Family$1,493
Shelter$1,761
USAA$1,558

Cheapest Home Insurance for Houses Less Than 20 Years Old in Colorado

The age of your home and its major systems may affect the policy rate you're quoted by insurance companies

Insurance Company
Grange$1,271
Shelter$1,761
Unitrin$1,521
Travelers$1,561

Colorado homeowners can ski their way to savings.

How to Find the Cheapest Home Insurance in Colorado

Just like groceries or clothes, you can find a good bargain on home insurance. With a little research and the right tools, you’ll be on your way to big savings. 

Use Insurify to find the best home insurance providers for your property in Colorado.

Colorado Homeowners Insurance FAQ

Why is home insurance so expensive in Colorado?

No matter where you live, catastrophes play a role in the cost of homeowners insurance premiums. Colorado saw a 54 percent increase in catastrophe-related homeowners claim payments from 2009 to 2013. The high rate of claims and payouts related to natural disasters has a significant impact on Colorado’s average cost of insurance.

Does USAA insure homes in Colorado?

Yes, USAA insures homes in Colorado. However, premiums tend to be more expensive than other homeowners insurance companies and policyholders must be active military members, veterans, or the family members of those in the armed forces.

How long does a home insurance claim take in Colorado?

Short answer: it depends. Of course, in times of crisis, like hailstorms or flooding, many of your neighbors will also file claims with their insurance companies, crowding the systems, and slowing down the claims process. The time it takes to file a claim for a covered loss in Colorado will vary from case to case. To find the best home insurance companies in your area, use Insurify to compare reviews and quotes.

Insurify Rate Comparison Methodology

The car insurance quotes, statistics, and data visualizations on this page are derived from Insurify’s proprietary database of over 4 million car insurance applications from ZIP codes across the United States. Insurify’s data science team performs a comprehensive analysis of the various factors car insurance providers take into account while setting rates to provide readers insight into how car insurance quotes are priced.