Average Homeowners Insurance Costs In Colorado
The average cost for homeowners insurance across the state is $1,495 per year. This is several hundred dollars higher than the national average. Depending on your credit rating, the age of your home, and other factors, these costs will vary. Even the distance of your home from a fire hydrant makes a difference when it comes to what your homeowners insurance premiums cost!
Common Types of Home Insurance Coverage Options in Colorado
- Personal property coverage — This type of coverage protects only the things inside the structure of your house, such as furniture and carpet.
- Dwelling coverage — Dwelling coverage insures your roof and walls from damages.
- Liability protection — This type of coverage protects you in case someone gets injured in your property and sues you for damages.
- Guest medical protection — Expenses accrued by someone who was injured in your property can be covered if you have guest medical coverage.
Primary Causes of Homeowner Insurance Losses in Colorado
Weather damages consistently are the #1 cause of insurance losses in our state. Those include:
- Water damage — Flooding is particularly a major cause of property damage in Colorado. As the mountain snow melts and the rivers rise, many houses near bodies of water become damaged every year. Even if you don’t live near a major body of water, you may still live in a flood-prone area. Check FEMA’s flood map to see if your location is at risk of flooding. If it is, it’s a good idea to get flood insurance.
- Fire damage — Wildfires are famously prevalent in Colorado. Many homeowners are at risk of wildfire-caused property damage, especially people who live in rural or forested areas.
- Hail damage — Colorado ranks the second in the nation for hail damage claims. We also rank fifth for the number of “major hail events,” referring to storms where hail is larger than one inch in diameter. Roofs, gutters, windows, cars, and more are all threatened by hail storms. Make sure you have homeowners insurance covering hail damage!
Get a Fast Quote For Colorado Homeowners Insurance Today
insureU agents are not incentivized to “sell” you something you don’t need. They are local, real people, who aren’t beholden to any insurance companies. We are here to provide a service to our community, connecting you up with the best possible insurance plan for your specific situation and needs. Our agency was built to provide clients the convenience of technology, while still providing a personal relationship. Our mission is to provide our clients the best possible price without sacrificing coverage. Work with insureU Colorado for the best customer service and most reliable insurance quotes around.
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