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Homeowners in Denver need the right kind of home insurance coverage to protect their assets. Colorado is prone to events like wildfires that can damage your property.[1] And while median home prices in Denver are higher than overall U.S. home prices, it’s possible to find affordable Denver homeowners insurance coverage.[2]
On average, Denver residents pay $3,803 per year for homeowners insurance with a $1,000 deductible and $300,000 in dwelling coverage. Here’s a closer look at what you need to know about comparing rates and finding cheap home insurance in Denver.
Quick Facts
Denver’s average annual home insurance rate of $3,803 is significantly higher than the national average of $1,770 for the same coverage level.
Auto-Owners, Armed Forces Insurance Exchange, and Allstate are some of the cheapest home insurance companies in Denver.
Homeowners should carefully review their policies to make sure they have coverage against common events, like wildfires.
Best home insurance companies in Denver
Denver homeowners have plenty of insurance companies to choose from. But the right home insurance company for you will depend on your specific needs and unique situation. And what’s cheapest for your neighbor may not be the cheapest for you. Here are some of the cheapest and best home insurance companies in Denver for you to start your search.
Insurance Company
▲▼
IQ Score
The Insurify Quality (IQ) Score uses more than 15 criteria to objectively rate insurance companies on a one-to-ten scale. The Insurify editorial team researches insurer data to determine the final scores.
The Insurify Quality (IQ) Score uses more than 15 criteria to objectively rate insurance companies on a one-to-ten scale. The Insurify editorial team researches insurer data to determine the final scores.
8.5/10
JD Power
J.D. Power data measures overall customer satisfaction and claims satisfaction based on a 1,000-point scale.
837
$300,000 Dwelling
A standard HO-3 home insurance policy typically includes dwelling, personal property, and liability coverage. The average rate displayed here reflects a policy with the following coverage limits: $300,000 dwelling; $25,000 personal property; $300,000 personal liability; $30,000 loss of use; and a $1,000 deductible for medical payments to others.
$138/mo
$500,000 Dwelling
A standard HO-3 home insurance policy typically includes dwelling, personal property, and liability coverage. The average rate displayed here reflects a policy with the following coverage limits: $500,000 dwelling; $25,000 personal property; $300,000 personal liability; $30,000 loss of use; and a $1,000 deductible for medical payments to others.
$189/mo
If you’re in search of the cheapest home insurance coverage in Denver, Auto-Owners can be a good option. Its average annual rates are lower than other top home insurance companies. In addition to cheap premiums, it offers a unique Homeowners Plus plan, which bundles multiple policies for extra protection.
The Insurify Quality (IQ) Score uses more than 15 criteria to objectively rate insurance companies on a one-to-ten scale. The Insurify editorial team researches insurer data to determine the final scores.
9.1/10
JD Power
J.D. Power data measures overall customer satisfaction and claims satisfaction based on a 1,000-point scale.
840
$300,000 Dwelling
A standard HO-3 home insurance policy typically includes dwelling, personal property, and liability coverage. The average rate displayed here reflects a policy with the following coverage limits: $300,000 dwelling; $25,000 personal property; $300,000 personal liability; $30,000 loss of use; and a $1,000 deductible for medical payments to others.
$240/mo
$500,000 Dwelling
A standard HO-3 home insurance policy typically includes dwelling, personal property, and liability coverage. The average rate displayed here reflects a policy with the following coverage limits: $500,000 dwelling; $25,000 personal property; $300,000 personal liability; $30,000 loss of use; and a $1,000 deductible for medical payments to others.
$301/mo
American Family has plenty of home insurance discounts that Denver homeowners can take advantage of. And Denver’s relatively high property crime rates compared to other Colorado cities means installing smart home devices and security systems could be a good idea. American Family has a discount for safe, smart, and secure homes.
Pros
Fewer complaints than average on the NAIC National Complaint Index
Wide variety of coverage options
Generational discounts if parents have American Family coverage
Cons
Only available in 19 states
Android users experience app glitches
Restrictions on liability coverage for owners of certain dog breeds, like pit bulls, Dobermans, or Rottweilers
Best insurer for military families: Armed Forces Insurance
Denver has more than 28,000 veterans, according to 2023 U.S. Census Bureau estimates. If you’re a veteran or military member in the area, you may find cheap home insurance coverage with Armed Forces Insurance. AFI provides a variety of standard home insurance products and add-ons, like valuable items coverage and flood insurance.
Pros
Offers many discounts
Multiple add-on coverages available
Cons
Only military members and families are eligible for coverage
B+ (Good) AM Best rating is lower than other insurers’ ratings
The Insurify Quality (IQ) Score uses more than 15 criteria to objectively rate insurance companies on a one-to-ten scale. The Insurify editorial team researches insurer data to determine the final scores.
8.9/10
JD Power
J.D. Power data measures overall customer satisfaction and claims satisfaction based on a 1,000-point scale.
833
$300,000 Dwelling
A standard HO-3 home insurance policy typically includes dwelling, personal property, and liability coverage. The average rate displayed here reflects a policy with the following coverage limits: $300,000 dwelling; $25,000 personal property; $300,000 personal liability; $30,000 loss of use; and a $1,000 deductible for medical payments to others.
$198/mo
$500,000 Dwelling
A standard HO-3 home insurance policy typically includes dwelling, personal property, and liability coverage. The average rate displayed here reflects a policy with the following coverage limits: $500,000 dwelling; $25,000 personal property; $300,000 personal liability; $30,000 loss of use; and a $1,000 deductible for medical payments to others.
$251/mo
Older adults account for about 12% of the population in Denver, according to 2023 U.S. Census Bureau data. Seniors in the area can land cheap coverage with the 55+ discount from Allstate. They may also qualify for other discounts, like for setting up automatic payments or being a non-smoker.
Pros
Offers flood insurance through the National Flood Insurance Program (NFIP)
Many discounts advertised
Cons
No extended or guaranteed replacement cost coverage
Below-average J.D. Power property claims satisfaction rating
Cheapest home insurance in Denver
If you’re looking for the cheapest home insurance in Denver, Auto-Owners should be on your radar, as it offers the lowest average annual premiums, according to Insurify data.
The table below shows other affordable homeowners insurance companies in Denver.
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Cost of homeowners insurance in Denver
The average cost of a home insurance policy in Denver is $3,803. But the age and size of your home, your deductible, your home’s proximity to fire protection services, and the type of home insurance you choose affect your premiums. Home insurance companies also look at your previous home insurance claim history when determining your rates.
Cost of homeowners insurance by dwelling coverage amount
Dwelling coverage is the part of your Denver home insurance policy that pays for damage to your home’s structure. To follow the 80/20 rule in home insurance, you should have coverage of at least 80% of your home’s replacement or rebuilding cost.
A home insurance deductible is the amount you pay out of pocket before your homeowners insurance policy steps in and covers the rest. While higher deductibles come with cheaper rates, you’ll pay more for a covered loss when you file a claim.
On the other hand, a lower deductible will increase your premium but save you on out-of-pocket expenses for property damage.
The table below shows the cost of home insurance in Denver for $300,000 in coverage, by deductible.
Deductible Amount
▲▼
Average Annual Premium
▲▼
$500
$3,803
$1,000
$3,869
How to get cheap homeowners insurance in Denver
Average home insurance costs in Denver are more expensive than the nationwide average, which can make it hard to afford the coverage you need. These tips can help you lock in the best deal on home insurance in Denver:[3]
Shop around. While it may be tempting to go with the first home insurer you find, doing so can cost you. It’s a good idea to get quotes from at least three different insurance companies. A local agent or home insurance comparison tool can make the process easier.
Look for discounts. Home insurance companies typically offer discounts that may apply to you and save you money. A few examples of popular discounts include auto pay, loyalty, green home, and new home discounts.
Increase your deductible. If you can afford higher out-of-pocket costs in a covered claim, you might want to raise your deductible. A higher deductible leads to lower premiums.
Bundle policies. Most home insurance companies offer bundling discounts for consumers who purchase more than one policy through them. You can bundle your life insurance or auto insurance policy with your homeowners insurance, for example, and save.
Colorado homeowners insurance rates by city
Home insurance rates in Colorado vary by city and ZIP code because of differences in weather conditions, population, crime rates, and the distance of homes from first responders.
Here’s a look at average home insurance quotes for $300,000 in coverage and a $1,000 deductible in Colorado, by city.
How much homeowners insurance do you need in Denver?
If you purchase your Denver home with a mortgage, your mortgage lender will require a home insurance policy. Before you take one out, be sure you know exactly what it covers. Otherwise, you might not have the home insurance coverage you need.
Again, to meet the 80/20 rule, you need at least 80% of your home’s replacement or rebuilding cost in coverage. So if you have a $300,000 home, you need $240,000 in dwelling coverage.
Denver homeowners don’t have to worry about hurricanes or tropical storms, but flash flooding can occur in Colorado, so you may consider additional flood insurance.[4]
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What are some of the biggest risks of owning a home in Denver?
As a Denver homeowner, you should be mindful of these common risks:
Theft
Denver has a high theft rate compared to smaller cities in Colorado. Standard home insurance policies include personal property coverage, but you can usually increase the limit if you’re concerned about high-value items.[5]
Wildfires
Denver, just like other parts of Colorado, is prone to wildfires that can destroy communities. But a basic HO-3 homeowners insurance policy includes coverage for fires and smoke.
Floods
Flash floods can occur in Denver and the rest of the state. Standard policies don’t cover flooding, but flood insurance is available through the NFIP or some private insurers.[4]
Denver homeowners insurance FAQs
Check out our guide to renting out rooms in your home, and see the answers to common questions about Denver home insurance below.
How much is home insurance in Denver?
The average cost of home insurance in Denver is $3,803 per year, or $317 per month. Denver’s higher average home prices may contribute to its higher-than-average home insurance costs.
Who has the cheapest homeowners insurance in Denver?
Auto-Owners has the cheapest home insurance in Denver, at an average of $1,660 per year, according to Insurify data. While it has the cheapest rates, you should always shop around with at least three different companies to find the cheapest company for your coverage needs.
Does Denver require homeowners insurance?
No. Denver doesn’t require homeowners to have home insurance, but if you have a mortgage, your mortgage lender will likely require it.
Why is home insurance so expensive in Denver?
Denver’s higher average home insurance costs could be because of the city’s higher home prices and higher crime rates.[5]
Anna Baluch is a Cleveland-based personal finance and insurance expert. With an MBA from Roosevelt University, she enjoys writing educational content that helps people make smart financial decisions. Her work can be seen across the internet on many publications, including Freedom Debt Relief, Credit Karma, RateGenius, and the Balance. Connect with Anna on LinkedIn.
Anna has been a contributor at Insurify since December 2022.
Más de 3 años produciendo contenidos sobre seguros y finanzas personales
Principal artífice de la puntuación de calidad de Insurify
Los profundos conocimientos de Courtney sobre finanzas personales van más allá de los seguros y abarcan las tarjetas de crédito, los préstamos al consumidor y la banca. Le encanta crear contenidos prácticos.
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Auto-Owners
American Family
Allstate
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