Insurance carriers calculate the cost of a home insurance policy by asking, "How likely is it that something bad will happen?" The more likely it is that something bad will happen, the more expensive the home insurance policy will be, and vice versa. We call these potential disasters "risk."
Here are two examples of risks facing homeowners in Colorado.
Colorado sees an average amount of criminal activity as compared with other states. While the risk varies depending on where you are — metropolitan Denver vs. serene Idaho Springs — you should always be properly protected just in case.
- National average number of burglaries: 37,814
- Colorado average number of burglaries: 25,081
Winter weather in Colorado can be disastrous for homeowners — especially those in the mountains. Think extreme cold, frozen pipes, melting snow that floods, hail and more. But bad weather can strike year-round. Just take a look at the damage it's done in The Centennial State:
- Number of tornadoes: 52
- Number of catastrophes: 343
- Property damage from weather in Colorado: $215,290,000