- Colorado Homeowners Insurance
- Cheapest Colorado Homeowners Insurance (By company and City)
- Why Is Colorado homeowners insurance Getting So Expensive?
- Rating Factors For Colorado Homeowners Insurance
- Most Common Causes For Homeowners Loss And Claims (Nationwide)
- Best Colorado Homeowners Insurance by Company
- Discounts Available For Colorado Homeowners Insurance
- Average Cost For Homeowners Insurance In Colorado (By City)
- Which Companies Offer Homeowners Insurance In Colorado?
- Does Colorado Require Homeowners Insurance?
- Frequently Asked Questions about Colorado Homeowners Insurance
- What does Colorado homeowners insurance typically cover?
- How can I get homeowners insurance in Colorado?
- Why choose our brokerage for Colorado homeowners insurance?
- Colorado Homeowners Insurance: A Comprehensive Guide
- What We Do at A Plus Insurance
Cheapest Colorado Homeowners Insurance (By company and City)
An insurance company might seem cheap in Denver, but could possibly be much more expensive in Colorado Springs, and vice-versa.
This is because individual cities play a huge role in how much your homeowners insurance in Colorado will be. Weather conditions, climate, and even crime rates will factor into your Colorado homeowners insurance policy, as well as things like the cost of labor and building materials in that city.
Below, we listed some cities in Colorado and which insurance company is typically the most affordable. However, that does not mean it’s the cheapest for YOU. Homeowners insurance in Colorado Springs, for example, we often find clients very affordable rates with Progressive ASI, Travelers, and Foremost Star.
If you want to be sure you are not overpaying on your Colorado homeowners insurance, then the best thing to do is get on the phone with an agent and have them do some quotes for you. It might take about 20 minutes, but it could be worth it if they are able to save you a couple hundred dollars this year.
Even if your city is not listed here, we can still get you affordable rates.
| City | Home Insurance Company |
|---|---|
| Frederick | USAA |
| Arvada | Allstate |
| Redlands | Liberty Mutual |
| Denver | Progressive |
| Lafayette | Farmers |
| Cherry Creek | Farmers |
| Edwards | Travelers |
| Grand Junction | Liberty Mutual |
| Dakota Ridge | Allstate |
| Craig | Liberty Mutual |
| Greenwood Village | Progressive (ASI) |
| Boulder | Travelers |
| Cañon City | Progressive (ASI) |
| Wheat Ridge | Travelers |
| Stonegate | NationWide |
| Fountain | Farmers |
| Fruita | Allstate |
| Fort Morgan | Progressive |
| Centennial | Travelers |
| Longmont | Travelers |
| Wellington | Liberty Mutual |
| Thornton | USAA |
| Montrose | American Family |
| Ken Caryl | USAA |
| Golden | Progressive (ASI) |
| Cimarron Hills | Allstate |
| Steamboat Springs | State Farm |
| Rifle | Travelers |
| Columbine | Chub |
| Erie | Progressive (ASI) |
| Highlands Ranch | Farmers |
| Johnstown | Liberty Mutual |
| Northglenn | NationWide |
| Commerce City | Liberty Mutual |
| Pueblo | Allstate |
| Aurora | Travelers |
| Evans | State Farm |
| Glenwood Springs | Liberty Mutual |
| Colorado Springs | Liberty Mutual |
| Sterling | Liberty Mutual |
| The Pinery | Progressive |
| Evergreen | Amica |
| Delta | USAA |
| Loveland | Amica |
| Berkley | USAA |
| Security-Widefield | Travelers |
| Brighton | Farmers |
| Roxborough Park | Amica |
| Pueblo West | Progressive |
| Durango | Progressive (ASI) |
| Black Forest | Travelers |
| Parker | Progressive (ASI) |
| Littleton | Progressive |
| Lakewood | Allstate |
| Fort Carson | Progressive (ASI) |
| Alamosa | Progressive |
| Federal Heights | Liberty Mutual |
| Westminster | American Family |
| Englewood | Travelers |
| Firestone | Allstate |
| Fort Collins | Farmers |
| Superior | USAA |
| Woodmoor | State Farm |
Why Is Colorado homeowners insurance Getting So Expensive?
Homeowners insurance costs have been on the rise due to a combination of factors.
One significant driver is the increasing frequency and severity of natural disasters, including hurricanes, wildfires, and floods, which have led to higher claims payouts. Additionally, rising construction and labor costs contribute to higher replacement values for homes, which insurers must account for in their pricing.
Moreover, advancements in technology have enabled more accurate assessment of risk factors, resulting in higher premiums for properties located in high-risk areas.
The growing prevalence of litigation and larger settlements in liability claims also impacts insurers’ expenses.
Economic factors such as inflation and low interest rates can reduce insurers’ investment returns, prompting them to adjust premiums to maintain profitability.
Lastly, some regions might experience demographic shifts or regulatory changes that affect insurance costs. Overall, the confluence of these factors has led to the general trend of homeowners insurance becoming more expensive.
Rating Factors For Colorado Homeowners Insurance
There is a very long list of factors that home insurance companies will look at in order to set your specific premium.
Some of the most impactful rating factors for your homeowners insurance in Colorado are completely out of your control, such as the home’s location and how much it costs to rebuild your house.
A huge factor that is actually up to you as the homeowner to set, is the deductibles you set. The higher the deductibles, the lower your policy will cost you.
Here are some of the rating factors that are considered when applying for homeowners coverage. These factors will determine how your premium is curated for your Colorado homeowners insurance.
| Homeowners Insurance In Colorado: Rating Factors |
|---|
| Swimming pool or hot tub |
| Marital status |
| Home liability limits |
| Age of Home |
| Credit history |
| Insurance score |
| Location |
| Wood-burning stoves |
| Value of home Replacement cost |
| Roof condition |
| Protection Class Proximity to fire station |
| Claims |
| Home-based business |
What Are The Most Common Insurance Claims For Colorado Homeowners Insurance?
Colorado ranks quite high in the country when it comes to catastrophe related claims such as wildfires and blizzards. Did you know that in Colorado Springs and Denver, 9 months of the year have significant snowfall? That can definitely take a toll on one’s roof. Make sure you are covered, so that Colorado weather doesn’t wreak havoc on your wallet.
Most Common Causes For Homeowners Loss And Claims (Nationwide)
Here are the most common causes that will create loss and the need to file a claim on your homeowners insurance plan. You will be glad you had a Colorado homeowners insurance policy.
| Common Homeowners Insurance Claim Causes |
|---|
| Wind |
| Hail |
| Lightning |
| Theft |
| Fire |
| Power surge |
| Injuries |
| Vandalism |
| Loss of Use |
| Other Weather related |
| Water Damage |
Best Colorado Homeowners Insurance by Company
To be rated high by AM Best is very important and shows the financial stability of the company. If an homeowners insurance company receives a high rating by them, it shows that they are reliable and can actually pay out claims.
We all like to be covered by reputable and reliable companies. Especially when it comes to our homes, below you will find the top companies that can give you peace of mind.
| Homeowners Insurance Company | AM Best: Company Rating |
|---|---|
| Company | AM Best |
| Travelers | A++ |
| MetLife | A- |
| American International | A- |
| Nationwide | A |
| Auto-Owners Insurance | A |
| Allstate | A+ |
| Chubb | A |
| Farmers Insurance | A |
| Hartford Financial | A+ |
| Liberty Mutual | A |
| American Family | A |
| State Farm | A++ |
| USAA | A++ |
| Progressive | A+ |
Discounts Available For Colorado Homeowners Insurance
While some discounts are more difficult to qualify for, there are a shocking amount of discounts that are EASY and available to EVERYONE searching for cheap Colorado homeowners insurance.
Both EFT and paperless discounts can easily be applied to your policy and save you some serious money. Ask your agent to see what other discounts you could get for homeowners insurance in Colorado.
Here are some ways that you can receive discounts on your homeowners policy. These are great ways to save some money while still having great coverage.
| Discount Opportunities You Could Be Missing Out On |
|---|
| Claims Free |
| Non-smoking discount |
| Loyalty |
| Gated community |
| Married discount |
| Paid in full |
| EFT |
| Auto water shut off or leak detection |
| Upgraded plumbing |
| Home monitoring / Burglary |
| Upgraded roof |
Average Cost For Homeowners Insurance In Colorado (By City)
Want to know the average cost for Colorado homeowners insurance in the city your home is in?
Here’s a list of the average cost of homeowners insurance in your area.
| City In Colorado | Average Yearly Cost |
|---|---|
| City | Price |
| Firestone | $1,296.00 |
| Edwards | $1,321.00 |
| Centennial | $1,345.00 |
| Fountain | $1,365.00 |
| Craig | $1,290.00 |
| Johnstown | $1,246.00 |
| Cherry Creek | $1,107.00 |
| The Pinery | $1,202.00 |
| Roxborough Park | $1,120.00 |
| Clifton | $1,253.00 |
| Redlands | $1,101.00 |
| Gunbarrel | $1,178.00 |
| Lafayette | $1,268.00 |
| Brighton | $1,360.00 |
| Pueblo West | $1,267.00 |
| Lone Tree | $1,156.00 |
| Loveland | $1,309.00 |
| Columbine | $1,416.00 |
| Aurora | $1,353.00 |
| Alamosa | $1,359.00 |
| Durango | $1,106.00 |
| Denver | $1,363.00 |
| Cimarron Hills | $1,375.00 |
| Woodmoor | $1,139.00 |
| Wellington | $1,203.00 |
| Englewood | $1,389.00 |
| Windsor | $1,174.00 |
| Highlands Ranch | $1,325.00 |
| Commerce City | $1,260.00 |
| Stonegate | $1,409.00 |
| Fruita | $1,251.00 |
| Derby | $1,397.00 |
| Boulder | $1,176.00 |
| Frederick | $1,245.00 |
| Security-Widefield | $1,344.00 |
| Fort Collins | $1,215.00 |
| Cañon City | $1,420.00 |
| Ken Caryl | $1,183.00 |
| Westminster | $1,236.00 |
| Fort Morgan | $1,390.00 |
| Grand Junction | $1,302.00 |
| Steamboat Springs | $1,167.00 |
| Sterling | $1,349.00 |
| Longmont | $1,312.00 |
| Pueblo | $1,249.00 |
Which Companies Offer Homeowners Insurance In Colorado?
Now, where to look for home insurance in Colorado? It can be a huge hassle to call around from company to company if many of them don’t sell homeowners insurance.
So we did the work for you.
Having choices is always a great option to have. Below are the companies that offer homeowners insurance in Colorado.
| Insurance Company | Homeowners Offered? |
|---|---|
| USAA | yes |
| MetLife Inc. | yes |
| Chubb | yes |
| Hartford | yes |
| Auto-Owners | yes |
| Nationwide | yes |
| State Farm | yes |
| Liberty Mutual | yes |
| Travelers | yes |
| Farmers Insurance | yes |
| Allstate Corp. | yes |
| American Family | yes |
| Progressive | yes |
| American International | yes |
Does Colorado Require Homeowners Insurance?
Colorado does not legally require homeowners to purchase homeowners insurance. Unlike auto insurance, which is mandated by law for drivers, there is no state law that obligates a homeowner to have insurance on their property. However, while it’s not a legal requirement, having homeowners insurance is often practically mandatory under certain conditions.
Why Homeowners Insurance is Essential in Colorado:
- Lender Requirements: If you have a mortgage on your home, your lender will almost certainly require you to have homeowners insurance. This is to protect their investment (as well as yours) against loss or damage due to fires, storms, theft, and other risks. The lender’s requirement ensures that the property remains insured until the mortgage is fully paid off.
- Protection Against Natural Disasters: Colorado is prone to a variety of natural disasters, including wildfires, severe storms, and flooding. Homeowners insurance can provide crucial financial protection against these and other risks, covering the cost of repairing or rebuilding your home and replacing its contents.
- Liability Coverage: Beyond just covering the physical structure of your home and belongings, homeowners insurance policies typically include liability coverage. This can protect you in case someone is injured on your property, covering medical bills, legal fees, and other related costs.
- Peace of Mind: Having a comprehensive homeowners insurance policy provides peace of mind, knowing that you’re financially protected against unforeseen events that could otherwise be financially devastating.
Considerations for Colorado Homeowners:
- Policy Details: It’s important to understand what your policy covers and what it excludes. For example, standard homeowners policies do not cover flood damage, so you may need to purchase additional coverage if you’re in a flood-prone area.
- Cost Factors: The cost of homeowners insurance in Colorado can vary based on several factors, including the location of your home, its value, the materials it’s made of, and the coverage limits you choose. Shopping around and comparing quotes from different insurance companies can help you find the best rate.
- Discounts and Deductibles: Look into discounts you may be eligible for, such as those for installing security systems or fire-resistant materials. Also, consider your deductible amount; a higher deductible can lower your premium, but you’ll pay more out of pocket if you file a claim.
In summary, while Colorado does not legally mandate homeowners insurance, the protection it offers makes it an essential consideration for homeowners. Whether to safeguard against natural disasters, fulfill lender requirements, or provide liability coverage, homeowners insurance is a critical component of financial and property security in Colorado.
Frequently Asked Questions about Colorado Homeowners Insurance
What does Colorado homeowners insurance typically cover?
How can I get homeowners insurance in Colorado?
Why choose our brokerage for Colorado homeowners insurance?
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What We Do at A Plus Insurance
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Last Updated on by Amanda Moss