Colorado Springs, CO Homeowners Insurance

How to Find the Best Homeowners Insurance in Colorado Springs, CO

Experts break down home insurance costs, coverages, companies, and more.

Mountain living in Colorado. Find Colorado Springs homeowners insurance.

Colorado Springs is the second most populated city in Colorado. It has a population of nearly half a million people. With its 20 distinct neighborhoods, there is something for everyone here. If you own a house in this vibrant city, you can protect your investment with a good homeowners insurance policy.

When you are shopping for coverage for your home, a local independent agent can help. These agents can work with some of the best insurance companies in Colorado to find you the best and most affordable policy. Contact an insurance agent near you to start comparing customized home insurance quotes.

How Much Does Homeowners Insurance Cost in Colorado Springs, CO?

Home insurance rates in the state of Colorado are higher than the national average. Comparison shopping lets you be certain that you are getting your coverage at a reasonable price.

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

Your actual home insurance costs are likely to differ from the average rate listed above because they are based on several factors such as the following.

  • The type of home you are insuring (e.g., single-family detached, mobile/manufactured home, condo, vacation home, rental property, etc.)
  • The size of your home, the year it was built, and the materials used in its construction
  • The crime rate and weather risks where your house is located
  • Your claims history and credit score
  • Whether you are bundling your homeowners coverage with another policy like car insurance or RV insurance

Every insurance company has its own method for calculating rates. Reviewing a variety of customized quotes lets you choose the homeowners insurance policy that offers the coverage you want at the most affordable price. 

What Kinds of Property Damage Does Colorado Springs Homeowners Insurance Cover?

Your home insurance policy is designed to cover against most of the damaging risks you are likely to face as a homeowner in Colorado Springs. This includes coverage against the following hazards.

  • Property crimes: This includes burglary, vandalism, and arson
  • Fires: This includes accidental fires, wildfires, and explosions
  • Severe weather: This includes thunderstorms, windstorms, tornadoes, hail, heavy snows, and ice accumulation

You will want to make sure that you have sufficient coverage to enable you to repair or rebuild your house (dwelling insurance) and to repair or replace all of your personal property (contents insurance) in the event that your home is destroyed in a catastrophic event like a fire.

What about Coverage against Flood Damage in Colorado Springs?

Although insurance coverage is pretty comprehensive, it does not include coverage against floods. This can be problematic if you live in flood-prone area of this city since, according to FEMA, just one inch of water in your home can cause as much as $25,000 in damage.

Fortunately, very few homes in Colorado Springs are at risk for flood damage. If yours happens to be one of them, you can supplement your homeowners insurance with a flood insurance policy.

An affordable policy through the National Flood Insurance Program (NFIP) can provide you with up to $250,000 in structural coverage and $100,000 in contents coverage for your home.


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What Is Loss of Use Insurance?

Colorado Springs has a high risk of tornado activity. The area experiences an average of one twister a year. While most of these tornadoes are rated F0, they can still cause a significant amount of damage. Your roof could be torn off or an uprooted tree can strike your house, destabilizing the foundation.

A disaster like a tornado or a fire can render your house inhabitable until repairs are made. If this happens, loss of use insurance, which is included in every homeowners insurance policy, can help.

If you need to seek alternate accommodations due to damage caused by a covered event, loss of use insurance can cover the following miscellaneous expenses.

  • Hotel or temporary rental costs
  • Meals, if your accommodations do not include a kitchen
  • Moving costs and temporary storage fees
  • Pet boarding, if needed

This coverage can continue until your house has been brought back to code and it is safe to move back in, or until you have purchased a new home.

How Can Liability Insurance Protect Colorado Springs Homeowners?

Anyone can have an accident or make and error in judgement that ends up hurting someone else. Fortunately, in addition to covering your house and property, homeowners insurance provides you with personal liability protection.

Homeowners liability insurance can cover expenses like court costs, legal fees, settlements, judgements, and other related expenses if you or someone in your household unintentionally cause someone else to experience an injury, property damage, financial loss, or other harm.

Examples of times you may need to rely on this coverage include:

  • A guest is severely injured in an accident on your property
  • Your dog gets loose and bites somebody
  • Your child accidentally destroys your neighbor’s picture window while playing baseball in the yard
  • You are accused of libel or slander

Most home insurance policies offer between $250,000 and $500,000 worth of liability protection. If you want more coverage than your home insurance can provide, you can also purchase an umbrella insurance policy. This is an affordable way to significantly boost all of your personal liability coverage.

Does Colorado Springs Homeowners Insurance Cover against Burglaries?

The burglary rate in Colorado is similar to the national rate; however, in Colorado Springs, the rate is higher. Residents of city report around 2,500 burglaries a 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 Colorado Springs: 5.00

If you are the victim of a burglary, the first thing you should do is ensure that you and your family are safe, and then call the authorities. It may give you peace of mind to know that your homeowners insurance can reimburse you for your lost property as well as for any associated damage to your home.

You will need a copy of the police report when you file your claim.

How Can an Independent Insurance Agent in Colorado Springs Help?

Independent insurance agents make it easy to find the best homeowners policy to cover your Colorado Springs home. These agents can save you time and money by doing the comparison shopping for you. That way, you can be certain that you are getting the coverage you want at a competitive price.

Arrange an obligation-free consultation with an insurance agent near you to learn more and to start comparing customized quotes from some of the best homeowners insurance companies in Colorado.

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