Lakewood Homeowners Insurance

Your Complete Guide to Lakewood, CO Homeowners Insurance

Find the right homeowners insurance policy for you.

Lakewood is a suburb of Denver with a population of about 143,000 residents. It is directly west of Denver and 63 miles north-northwest of Colorado Springs. Located just east of the Front Range of the Southern Rocky Mountains, Lakewood has a semi-arid climate with mild and snowy winters and warm or even hot summers. It is an attractive place to live for all kinds of residents. 

If you own a home in Lakewood, you are not immune to thefts, break-ins, fires, and severe weather that can cause property damage. That’s why Lakewood homeowners need affordable home insurance that covers their risks. Having reliable, responsive homeowners insurance means having peace of mind in the face of unpleasant events. Local independent insurance agents can help you find the best and most affordable insurance coverage for your home. Find an agent in or near Lakewood to learn more, and start comparing quotes today. 

Cost of Homeowners Insurance in Lakewood, CO 

Colorado is the 9th most expensive state for home insurance in the US, and the average cost of homeowners coverage in Lakewood is lower than the national average. With the help of an independent agent, you can shop around for the best rates in town.

  • National average yearly premium: $1,173
  • Colorado average yearly premium: $1,383
  • Lakewood average yearly premium: $1,100

Your Lakewood home insurance rates may be higher or lower than average, depending on your home’s unique characteristics (size, location, age, value, etc.) and other risk factors (crime rate, severe weather risk) in your neighborhood. If your property’s location comes with more hazards than most, expect to pay more. You will also pay more if your home will cost more to repair or rebuild than others. 

Comparing quotes from multiple insurance companies and making sure you are maximizing your discounts is the best way to make sure you’re getting the best rate on your Lakewood home insurance. A local independent agent can help you do just that and can guide you through the process to ensure you are getting the coverage you need. 

Burglary Rate in Lakewood, Colorado

Lakewood’s home burglary rate is higher than the national average, and also quite a bit higher than the state average.

  • Number of burglaries per 1,000 homes in the US: 4.69
  • Number of burglaries per 1,000 homes in Colorado: 4.31
  • Number of burglaries per 1,000 homes in Lakewood: 6.56

No matter where you live, you can be the victim of a home burglary, break-in, or vandalism. Your home insurance is designed to reimburse you for loss or damage following a break-in, theft, and even vandalism. But remember, you have to pay your deductible first, and your insurance company will handle the rest. Don’t wait until it’s too late. Take precautions to protect your home from burglary, and remember that having a home security system is one of the best ways to keep burglars out. What’s more, homes with burglar alarms often qualify for extra discounts on home insurance.  

Catastrophic Events in Colorado

Colorado has a relatively moderate climate, but the area does experience cold temperatures, heavy snow, and occasional severe storms. Colorado has also experienced wildfires and flooding—both capable of causing massive destruction to residential property. 

  • Number of declared disasters in Colorado: 83
  • Most common reasons for disasters in the state: Fires and Floods
  • Average number of tornadoes per year in Colorado: 49.5
  • Average amount of property damage per year in Colorado: $1,745,328,000
  • 1 in 15 insured homes has a claim each year

Homeowners insurance is designed to cover you against a variety of hazards you face as a homeowner. Fires, severe weather, floods, and heavy snow can cause significant damage to your home, and without home insurance, you’d have to pay for repairs on your own. There is a real threat of fires, flooding, and other severe weather events in Lakewood. An insurance agent can help you review your structure and contents coverage limits so you can be sure that they are high enough to enable you to rebuild, repair, or replace if necessary.

Liability Insurance for Lakewood, CO Homeowners

Your home insurance policy covers your home’s structure and your belongings. It also includes liability coverage, which is designed to help you pay for a variety of expenses if you are sued for negligence. If someone is injured on your property, your liability coverage will pay for medical expenses related to the accident. If that person sues you for additional damages, your liability coverage pays for attorney fees, court costs, and any settlements or judgments that you are required to pay to the injured party. 

Consider these examples of when your homeowners liability coverage is invaluable:

  • A guest in your home trips on loose carpeting and breaks her ankle.
  • Your child hits a baseball through a neighbor’s window.
  • Your dog bites a passerby.
  • You are accused of libel or slander because of something you posted on social media. 

Learn more about liability insurance from your independent agent. You might find that you need more coverage than your home insurance policy allows. In this case, you can purchase a personal umbrella policy, which offers liability coverage beyond what is provided in your home or auto insurance policy. 

Second Home and Vacation Home Insurance

Colorado offers a wide variety of recreational opportunities across the entire state. Perhaps you are lucky enough to own a ski chalet, lake home, or vacation rental. If so, you need to ensure you have appropriate coverage for how each property is used. 

  • Ski cabins or lake homes may only be occupied seasonally or on weekends. These properties are often targets for thieves, and property damage that occurs while you are gone can go unnoticed for long periods and get worse. Vacant home insurance may be needed in these situations.
  • If you own a rental property or a vacation home that you rent out to tourists, landlord insurance can help you cover the specific risks you face as a landlord. 

A local independent agent can help you review the unique coverage needs of any additional properties that you own, and can obtain competitive quotes to make sure you’re getting the best price. 

Why Work with an Independent Insurance Agent?

Independent insurance agents in your city can help you find a reliable, affordable home insurance policy. Independent agents aren’t tied to one company, so you can be sure you are getting honest, unbiased advice. 

Contact an agent in or near Lakewood to start comparing customized home insurance quotes.

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http://www.naic.org/prod_serv/AUT-PB-14.pdf
https://www.census.gov
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