Centennial Homeowners Insurance

Complete Guide to Centennial, CO Homeowners Insurance

Homeowners insurance near you

Centennial, Colorado is a suburb of Denver. This city is relatively new since it was formed as recently as 2001. If you are among the more than 100,000 people who call Centennial home and you own your house, you can benefit from the protections that a solid homeowners insurance policy can offer.

Local independent insurance agents can help you find the best and most affordable coverage for your Centennial home. Contact an insurance agent near you to start comparing customized homeowners insurance quotes.

How Much Does Homeowners Insurance Cost in Centennial, CO?

The average cost of home insurance in this state is higher than the national average. But in Centennial, the average rate is lower. This is good news for Centennial residents who are looking for homeowners insurance at a great price.

  • National average yearly premium: $1,211
  • Colorado average yearly premium: $1,495
  • Centennial average yearly premium: $945

Of course, your actual homeowners insurance quotes are likely to be different from these average rates. This is because costs are calculated individually according to several different factors. These can include:

  • The age, size and value of your home
  • The number of stories in your house and whether it has a basement
  • The materials used in the construction of your house
  • Your claims history and credit score
  • The crime rate and weather risks in your ZIP code
  • Whether you are bundling your coverage with other policies like car insurance or life insurance

Every insurance company has its own way of assessing risk and computing rates, so comparing a variety of quotes lets you to choose the homeowners insurance policy that offers the coverage you need at the best price. Independent insurance agents in Centennial make comparison shopping easy.

What Kinds of Damage Are Covered by Centennial Home Insurance?

Home insurance policies are designed to cover your property against damage caused by most of the hazards you are likely to face as a property owner in Centennial. This includes risks ranging from accidental fires to severe weather events. Dwelling insurance covers the structure of your house, while contents insurance covers the personal property you keep inside it.

Catastrophic Events in Colorado

  • Number of federally declared disasters in Colorado: 95
  • Most common reasons for disasters in the state:  Fires 
  • Average number of tornadoes per year in Colorado:  53
  • Average amount of property damage per year in CO:  $1.75 billion
  • 1 in 15 insured homes has a claim each year.

Centennial residents are most at risk for damage caused by severe storms, hail, strong winds and tornadoes. Additionally, heavy snowfalls and freezing temperatures in the winter have the potential to damage your house due to frozen water pipes, or your roof and gutters due to ice dams and buildup. Fortunately these hazards are covered by most home insurance policies.

What Kinds of Damage Are NOT Covered by Centennial Home Insurance?

Homeowners insurance, however, does not cover everything. Many residents of Centennial are at risk for damage caused by floods, landslides, and mudslides. Unfortunately, homeowners insurance does not cover these hazards. Additionally, there is an increased risk of earthquake activity in this city, and earthquake damage is also excluded from coverage.

In order to be fully covered, you will need to supplement your homeowners insurance coverage with additional policies such as flood insurance and earthquake insurance. A local independent agent can help you find appropriate coverage at a reasonable rate.

Why Is Liability Insurance Important for Centennial Homeowners?

Liability lawsuits can happen to anyone, and when they do, they can be extremely expensive. Sometimes, they can cause so much financial harm that you could potentially lose your home. That is why homeowners insurance also provides personal liability insurance as a standard part of every policy.

Homeowners liability insurance is designed to cover court costs, legal fees, and financial damages if you are sued for a covered event. Some examples of times your homeowners liability coverage may prove invaluable include:

  • If a guest in your home is badly injured in an accident that can be attributed to the negligence of upkeep on your part.
  • If you accidentally cause injuries to someone while you are away from your home, such as while playing a friendly game of tennis in deKoevend Park.
  • If someone in your household, such as your children or your pets, does something that causes injuries or property damage to someone else.
  • If you are accused of libel due to something you posted on social media.

If you want to have more liability coverage than your home insurance will provide, you can also purchase umbrella insurance. This is an affordable way to significantly boost all of your liability coverage. A local independent insurance agent can help you acquire all the liability coverage you want at a competitive price.

Does Centennial Homeowners Insurance Cover against Burglaries?

The burglary rate in Colorado is lower than the national rate, and in Centennial, the rate is even lower.  This is not to say that the risk does not exist. Residents of this city report about 250 burglaries every year.

  • Number of burglaries per 1,000 homes in the US: 3.76
  • Number of burglaries per 1,000 homes in Colorado: 3.75
  • Number of burglaries per 1,000 homes in Centennial: 2.06

While the risk of a burglary is low, you may gain some peace of mind by knowing that if your house is broken into, your homeowners insurance can reimburse you for your losses as well as for any damage the burglar may have caused. If you own any particularly valuable possessions, you may need to add special endorsements or riders to your homeowners insurance policy in order for them to be fully covered. A local independent insurance agent can help you be sure that all of your most precious property is properly insured.

What about Centennial Residents with Second Homes and Vacation Homes?

Maybe you maintain a winter vacation home in Arizona. Or perhaps you have a second home that you rent out locally for additional income. Whatever your reasons, if you own more than one house, you will need to be sure that all of your properties are covered by appropriate homeowners insurance policies.

When you own a house that is not your primary residence, there are often additional risk factors that insurance companies will take into consideration. In some cases, you may be required to purchase specialized home insurance coverage. 

  • Vacation properties that are not used for several months out of the year typically have an increased risk of property damage. Your insurer may require you to have vacant home insurance during the times your vacation house is unoccupied.
  • Second homes that are occupied by tenants have higher liability risks and a greater chance of sustaining serious property damage. These homes typically need to be covered by landlord insurance.

A local independent insurance agent can help you be certain that all of your residential properties are properly covered.

Why Work with an Independent Insurance Agent in Centennial, CO?

The easiest way to obtain the best and most affordable insurance for your Centennial home is by working with a local independent agent. These agents work for you, not for a particular insurance company, so they are able to shop around in order to find you appropriate coverage at a competitive rate.

Find an independent insurance agent with an office in or near Centennial to schedule a one-on-one consultation. You will be able to start comparing customized homeowners insurance quotes in no time.

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