Find the Best Homeowners Insurance Rates & Companies in Colorado
If you are looking for a great homeowners insurance policy in Colorado, you will find you have a lot of providers from which to choose. Comparison shopping lets you find the policy that offers the coverage you want at the most competitive price.
Independent insurance agents make comparison shopping easy. These agents have established relationships with many top-rated insurance companies in Colorado, so they can provide you with a selection of customized Colorado home insurance policies and quotes that you can review and compare together.
Contact an independent insurance agent near you to arrange an obligation-free consultation.
The Best Homeowners Insurance Companies in Colorado
There is no particular insurance company that is the best choice for every homeowner in Colorado. Independent insurance agents understand this. That is why they work with a variety of the area’s top-rated insurance providers, including companies like:
- Progressive: The convenience of state-of-the-art online services and an award-winning mobile app make this insurance company a top choice for Colorado residents.
- Nationwide: Enjoy worry-free claims, customized coverage, and quality customer service when you purchase a home insurance policy through Nationwide.
- Travelers: Since 1963, Travelers has provided its customers with reliable coverage through its full line of insurance products.
- Safeco: Safeco has been providing personal insurance coverage since 1923. Talk to an independent agent to learn more about how this Liberty Mutual subsidiary can protect your home and property.
- Foremost: Foremost has coverage options many other insurance providers may not offer. Enjoy A Better Insurance Experience® when you work with Foremost.
- Central Insurance Companies: Central has been providing security, protection, and peace of mind to its policyholders since 1876.
- PURE: PURE is a member-owned insurer that provides home insurance policies exclusively for high-net-worth individuals who own homes valued at $1 million or more.
Begin your search for the best home insurance company in Colorado by talking to a local independent insurance agent. These agents can help you find the insurance provider that offers the best value for your money.
What Homeowners Insurance in Colorado Can Cover
If you own a house in the Centennial State, a good homeowners insurance policy can protect your finances and the investment you have made in your property. Colorado home insurance provides six types of coverage:
- Dwelling insurance (Coverage A): This covers damage to the structure of your home.
- Other structures insurance (Coverage B): This covers damage to structures on your property, like fences, sheds, and detached garages.
- Contents insurance (Coverage C): This covers loss or damage to your personal property.
- Loss of use insurance (Coverage D): This covers your extra living expenses if a covered event like a tornado or wildfire renders your home unsafe for habitation.
- Homeowners liability insurance (Coverage E): This covers expenses related to personal liability lawsuits against you or someone in your household.
- Medical payments insurance (Coverage F): This can cover third-party medical expenses if someone is injured on your property, regardless of legal liability.
Independent insurance agents in Colorado can explain each coverage type in great detail and help you determine how much coverage is sufficient in each category.
What Homeowners Insurance in Colorado Does Not Cover
Colorado homeowners insurance provides you with a wide range of coverage, but it doesn’t cover everything. For instance, you should not expect your policy to pay for things like:
- Damage to your vehicle
- Damage caused by insects or animals
- Remediation of mold, rot, or rust
- Loss or damage resulting from acts of terrorism
- Damage caused by floods
You should also be aware that although your policy may provide a bit of coverage for the following, it will generally be somewhat limited:
- Business property and equipment if you run a business out of your home
- Collectibles and valuables like fine art, heirlooms, and jewelry
- Recreational vehicles like snowmobiles, ATVs, boats, and personal watercraft
To ensure that all of your property is fully covered, you can purchase supplemental policies or special home insurance policy endorsements. A local independent insurance agent can help.
What Homeowners Should Know about Flood Damage in Colorado
As mentioned above, homeowners insurance policies in Colorado do not cover damage caused by floods. Unfortunately, more than 150,000 properties in this state have a significant risk of sustaining flood damage over the next thirty years. That is nearly 10% of all homes and businesses.
If your house is among those at risk, you can opt to supplement your home coverage with flood insurance. Affordable policies are available through the National Flood Insurance Program in NFIP-participating communities. Otherwise, you can purchase coverage through a commercial provider.
If your home is located in a flood zone and you still own on a mortgage or a home equity loan, your lender will require you to maintain flood insurance coverage. Otherwise, this coverage is optional. When deciding whether a policy is worth the cost to you, it is worth noting that the average compensation per flood claim in Colorado is $26,200.
Average Cost of Homeowners Insurance in Colorado
While homeowners in the US pay an average of $1,211 a year for home insurance, the average cost of homeowners insurance in Colorado is higher at $1,495 a year.
Of course, this is just an average rate. Your actual costs may be significantly higher or lower than this amount because insurance companies calculate their costs individually based on factors like your home’s rebuild value; the crime rate and weather risks in your neighborhood; your insurance claims history; and the amount of coverage you wish to purchase.
Consult a local independent insurance agent to find out how much a home insurance policy will cost you. Your agent can present you with a variety of customized quotes from some of the best homeowners insurance companies in Colorado.