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Best homeowners insurance companies in Colorado for 2024

Mary Van Keuren has written for insurance domains such as Bankrate, Coverage.com, and The Simple Dollar for the past five years, specializing in home and auto insurance. She has also written extensively for consumer websites including Reviews.com and Slumber Yard. Prior to that, she worked as a writer in academia for several decades.

Jessa Claeys is an insurance editor for Bankrate with over a decade of experience writing, editing and leading teams of content creators. She currently covers auto, home and life insurance with the goal of helping others secure a healthy financial future. Her work has been published by several insurance, personal finance and investment-focused publications, including Jerry, BiggerPockets, 401(k) Specialist, BP Wealth and more.

Jessa Claeys is an insurance editor for Bankrate with over a decade of experience writing, editing and leading teams of content creators. She currently covers auto, home and life insurance with the goal of helping others secure a healthy financial future. Her work has been published by several insurance, personal finance and investment-focused publications, including Jerry, BiggerPockets, 401(k) Specialist, BP Wealth and more.

Powered by Coverage.com (NPN: 19966249)

Coverage.com, LLC is a licensed insurance producer (NPN: 19966249). Coverage.com services are only available in states where it is licensed. Coverage.com may not offer insurance coverage in all states or scenarios. All insurance products are governed by the terms in the applicable insurance policy, and all related decisions (such as approval for coverage, premiums, commissions and fees) and policy obligations are the sole responsibility of the underwriting insurer. The information on this site does not modify any insurance policy terms in any way.

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At Bankrate, we strive to help you make smarter financial decisions. To help readers understand how insurance affects their finances, we have licensed insurance professionals on staff who have spent a combined 47 years in the auto, home and life insurance industries. While we adhere to strict  editorial integrity, this post may contain references to products from our partners. Here’s an explanation of  how we make money. Our content is backed by Coverage.com  LLC, a licensed entity (NPN: 19966249). For more information, please see our  Insurance Disclosure.

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Homeowners in Colorado pay an average of $2,988 per year for a home insurance policy with $300,000 in dwelling coverage. This is 39 percent more than the national average of $2,153 per year, but Bankrate's insurance editorial team identified some top carriers in the state with average rates below the state average.

Bankrate’s team of insurance experts used a series of key metrics to assess home insurance companies writing policies in the Centennial State. We analyzed average premium data from Quadrant Information Services, along with policy options, discount opportunities and third-party financial strength and customer satisfaction ratings. When looking for home insurance in Colorado, here are a few things to know:

Coverage.com, LLC is a licensed insurance producer (NPN: 19966249). Coverage.com services are only available in states where it is licensed. Coverage.com may not offer insurance coverage in all states or scenarios. All insurance products are governed by the terms in the applicable insurance policy, and all related decisions (such as approval for coverage, premiums, commissions and fees) and policy obligations are the sole responsibility of the underwriting insurer. The information on this site does not modify any insurance policy terms in any way.

This content is powered by HomeInsurance.com, a licensed insurance producer (NPN: 8781838) and a corporate affiliate of Bankrate.com. HomeInsurance.com LLC services are only available in states where it is licensed and insurance coverage through HomeInsurance.com may not be available in all states. All insurance products are governed by the terms in the applicable insurance policy, and all related decisions (such as approval for coverage, premiums, commissions and fees) and policy obligations are the sole responsibility of the underwriting insurer. The information on this site does not modify any insurance policy terms in any way.

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Bankrate follows a strict editorial policy, so you can trust that we’re putting your interests first. Our award-winning editors and reporters create honest and accurate content to help you make the right financial decisions.

We value your trust. Our mission is to provide readers with accurate and unbiased information, and we have editorial standards in place to ensure that happens. Our editors and reporters thoroughly fact-check editorial content to ensure the information you’re reading is accurate. We maintain a firewall between our advertisers and our editorial team. Our editorial team does not receive direct compensation from our advertisers.

Bankrate’s editorial team writes on behalf of YOU — the reader. Our goal is to give you the best advice to help you make smart personal finance decisions. We follow strict guidelines to ensure that our editorial content is not influenced by advertisers. Our editorial team receives no direct compensation from advertisers, and our content is thoroughly fact-checked to ensure accuracy. So, whether you’re reading an article or a review, you can trust that you’re getting credible and dependable information.

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Bankrate.com is an independent, advertising-supported publisher and comparison service. We are compensated in exchange for placement of sponsored products and services, or by you clicking on certain links posted on our site. Therefore, this compensation may impact how, where and in what order products appear within listing categories, except where prohibited by law for our mortgage, home equity and other home lending products. Other factors, such as our own proprietary website rules and whether a product is offered in your area or at your self-selected credit score range, can also impact how and where products appear on this site. While we strive to provide a wide range of offers, Bankrate does not include information about every financial or credit product or service.

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Compare the best homeowners insurance companies in Colorado

Using data sourced from Quadrant Information Services, our insurance editorial team compared average premiums from dozens of carriers writing home insurance policies in Colorado. We also looked at coverage options and discount opportunities, as well as the ease of use of each carrier's website and mobile app. Finally, we considered third-party financial strength ratings from AM Best and customer satisfaction scores from J.D. Power. As a point of reference, the average cost of a home insurance policy with $300,000 in dwelling coverage in Colorado is $2,988.

Powered by Coverage.com (NPN: 19966249)

Coverage.com, LLC is a licensed insurance producer (NPN: 19966249). Coverage.com services are only available in states where it is licensed. Coverage.com may not offer insurance coverage in all states or scenarios. All insurance products are governed by the terms in the applicable insurance policy, and all related decisions (such as approval for coverage, premiums, commissions and fees) and policy obligations are the sole responsibility of the underwriting insurer. The information on this site does not modify any insurance policy terms in any way.

Bankrate's trusted insurance industry expertise

The home insurance market can be complicated, but Bankrate's insurance editorial team used our unique perspective to bring readers information they need to make educated decisions when shopping for home insurance.

46

years of industry expertise

122

carriers reviewed

34.5K

ZIP codes examined

1.2M

quotes analyzed

The top 5 home insurance companies in Colorado

Best for military-focused coverage

4.7

4.7

Avg. premium for $300K dwelling

$163/mo

Avg. premium for $300K dwelling

$1,959/yr

Customer satisfaction

881/1,000

Why USAA made our list: USAA consistently earns high scores across J.D. Power customer satisfaction studies, as well as strong financial strength ratings from AM Best. For the third year in a row, USAA was named a 2024 Bankrate Awards winner (tie) for Best Home Insurance Company Overall. However, membership and coverage are only extended to active-duty or retired U.S. military service members and their eligible family members. Colorado residents who are either members of the military or qualifying relatives may be able to take advantage of USAA’s many coverage options, including those specific to military uniforms and home sharing, among other standard coverage types.

Who USAA may be good for: Military service personnel stationed at the Air Force Academy in Colorado Springs, Fort Carson Army Base or any of Colorado's other military installations may choose USAA as their carrier of choice.

CheckmarkPros

Close XCons

Although USAA offers excellent coverage for military members and their families, the company has a limited number of optional endorsements. Here are a few that you may add to your policy:

Best for numerous discount and reward opportunities

4.2

4.2

Avg. premium for $300K dwelling

$215/mo

Avg. premium for $300K dwelling

$2,575/yr

Customer satisfaction

809/1,000

Why Allstate made our list: Colorado homeowners looking for coverage that comes with additional rewards may find Allstate to be an excellent choice. For example, you may earn a 5 percent discount on your premium each year you go without filing a claim. Adding Allstate’s Rateguard option to your policy may protect you from rate increases with an allowance of one claim per five years. Allstate also offers a home-sharing endorsement, which may appeal to homeowners who occasionally rent out their property.

Who Allstate may be good for: Homeowners looking for a long list of potential endorsements and discounts may be satisfied with Allstate's policy options.

CheckmarkPros

Close XCons

Allstate has a generous handful of potential endorsements to allow policyholders to craft a policy that works for their situation. Here are some of the more common ones:

Best for local offices

4.2

4.2

Avg. premium for $300K dwelling

$212/mo

Avg. premium for $300K dwelling

$2,548/yr

Customer satisfaction

829/1,000

Why State Farm made our list: In addition to being the largest homeowners insurance company by market share in the nation, State Farm has a strong J.D. Power customer satisfaction rating and a highly rated mobile app. If you prefer to conduct business in person, you may be able to explore coverage through one of the carrier's agents located across nearly 100 cities in Colorado. However, State Farm’s average premiums tend to be higher than other companies, and it doesn’t advertise as many discount opportunities as some competitors.

Who State Farm may be good for: If personalized customer service is more important to you than saving money, you might consider asking State Farm for a quote.

CheckmarkPros

Close XCons

As the largest writer of personal policies in the U.S., State Farm offers a range of standard and optional policy types for homeowners. Here are a few of the additional coverages that are available:

Best for add-on coverage options

4.2

4.2

Avg. premium for $300K dwelling

$297/mo

Avg. premium for $300K dwelling

$3,569/yr

Customer satisfaction

813/1,000

Why American Family made our list: American Family, also known as AmFam, is a smaller carrier with a long list of potential endorsements. Policyholders may be able to choose from numerous coverage options like hidden water damage protection, equipment breakdown coverage and matching siding protection. Discounts may also be available for customer loyalty, renovated homes and having a parent who is also an AmFam policyholder. However, AmFam’s digital tools are not as robust as some larger carriers.

Who American Family may be good for: American Family may be a good choice if your parents are already AmFam policyholders and you value in-person and over-the-phone service over digital tools.

CheckmarkPros

Close XCons

American Family has an extensive list of endorsements to provide additional coverage for your home, property and personal belongings. Here are some of them:

Best for public safety-focused coverage

Avg. premium for $300K dwelling

$202/mo

Avg. premium for $300K dwelling

$2,419/yr

Customer satisfaction

Not rated

Why California Casualty made our list: California Casualty caters to homeowners in fields of public safety and education, including firefighters, nurses and teachers. Despite its name, California Casualty writes home insurance policies in most states with coverage options and discounts tailored toward its specific customer base. Potential endorsements include off-duty weapons theft coverage, personal property used in teaching coverage and school violence death survivor benefits. However, California Casualty received the lowest financial strength rating of all companies on this list from AM Best — B (Fair) — and its customer satisfaction was not scored by J.D. Power.

Who California Casualty may be good for: This regional carrier may be worth looking at if you are in one of the professions that it services, such as teachers, public safety officers and health care providers.

CheckmarkPros

Close XCons

California Casualty offers endorsements that are geared toward its target demographic (those in public safety and education), as well as more standard add-ons like those offered by other companies. Here is a sampling of their options:

Additional Colorado home insurance companies to consider

State Auto

Who this may be best for

Homeowners who want predetermined coverage packages

If you opt to go with State Auto home insurance, you can choose from three package tiers: Standard, Protection Plus and Premier. The most basic tier is the Standard package, but homeowners can add coverage options based on needs. State Auto also has home-sharing coverage, which may appeal to homeowners who use their homes as short-term rentals, and home systems protection for AC units, computers and home security devices.

Encompass

Who this may be best for

Homeowners who want to customize their home insurance

Encompass offers a pre-packaged home, car and possessions policy called EncompassOne, as well as standalone home policies in three tiers: Elite, Deluxe or Special. Each tier has unique policy features, coverage limits and discount opportunities. Customizable options include water backup protection, mortgage rate protection (if your mortgage is affected due to a covered total loss) and computer and data recovery coverage. Encompass also allows you to customize your home policy with add-ons like enhanced replacement cost coverage, which will pay to rebuild your home after a covered loss.

How Bankrate chose the best home insurance companies in Colorado

To narrow down our list of top home carriers in Colorado, we assigned each company a Bankrate Score. This score takes into account average rates, coverage options, discount availability, customer service, financial strength and more to create a holistic comparison metric. The better a company performed in each of these categories, the higher its overall Bankrate Score for a maximum score of 5 out of 5. As you read through our picks for the best home insurance companies in Colorado, we hope these Bankrate Scores will allow you to easily compare companies based on the factors that matter most to you.

Compare home insurance rates

Answer a few questions to see personalized rates from top carriers.

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Coverage.com, LLC is a licensed insurance producer (NPN: 19966249). Coverage.com services are only available in states where it is licensed. Coverage.com may not offer insurance coverage in all states or scenarios. All insurance products are governed by the terms in the applicable insurance policy, and all related decisions (such as approval for coverage, premiums, commissions and fees) and policy obligations are the sole responsibility of the underwriting insurer. The information on this site does not modify any insurance policy terms in any way.

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Cheapest home insurance companies in Colorado

When looking for cheap home insurance companies in Colorado, it can pay off to start with insurers that have a reputation for writing affordable policies in general. Bankrate used data from Quadrant Information Services to determine average rates for the companies that serve the Centennial State. Our top choices may be able to give you the best possible rates here.

How Bankrate chose the cheapest home insurance companies in Colorado

Bankrate's 2024 data on rates comes from Quadrant Information Services, which provides pricing analytics for insurers. Our chosen companies had the lowest rates among all the major Colorado homeowners insurance companies by market share, so that you can make the best decisions for your own coverage.

How to get cheap Colorado home insurance

Although home insurance is not required by law in Colorado, most insurance experts recommend having a policy in place to protect you financially from covered perils. Fortunately, a few strategies may help you find the coverage you need at a price you can afford.

Best home insurance discounts in Colorado

Another way to potentially save money on your policy is to take advantage of any discounts you are eligible for. Most insurance carriers offer at least a few discounts. Here are a few that are commonly seen with many carriers:

How to save on home insurance policy renewals in Colorado

Finding the most affordable rates possible in Colorado is one thing, maintaining those low rates over the years is another thing entirely. Fortunately, there are strategies you can take to help you keep your rates low, and may even result in savings over your initial rate.

How much is home insurance in Colorado?

The average cost of Colorado homeowners insurance is $2,988 per year for a dwelling coverage limit of $300,000. That is significantly higher than the national average cost of home insurance, which is $2,153 per year. Colorado’s average cost of home insurance is higher than the neighboring states of Utah and Wyoming, where homeowners pay an average of $1,117 and $1,352 per year, respectively, for the same dwelling coverage. It’s likely that Colorado’s volatile weather conditions, including snow and hail storms, are partially responsible for the state’s higher premiums.

Colorado homeowners insurance rates by city

Even within the same state, home insurance rates can vary depending on where you live. This is true for Colorado, since it is a large state that encompasses a range of weather patterns.

*Rates are for $300,000 in dwelling coverage.

What does home insurance cover in Colorado?

The most common type of Colorado homeowners insurance is called an HO-3 policy. This type of insurance protects your property and belongings, though it covers each in a slightly different manner. Your home and other structures are covered for "open perils," which means any disaster that is not excluded by your policy. Your belongings are covered on a "named peril" basis, meaning that they are covered from damage from a specific list of perils. Knowing what is and isn't covered is important so that you can add additional coverage options if needed. Here are some of the potential perils your policy protects you from:

Additional home insurance coverage types in Colorado

Home insurance policies typically include a long list of covered perils, but some causes of damage may not be covered. To better protect your financial investment in your Colorado home, it may be worth considering adding coverage that extends past your standard policy. Some of your options may include:

Related content:

Colorado housing market: everything you need to know Previously Read

Best places to live in Colorado Previously Read

Buying a house in Colorado Previously Read

Common Colorado home insurance problems

Although it's undoubtedly best when you have no problems with your home insurance, occasionally a policyholder may experience challenges, some of which can be widespread. Here are a few situations you may face, even if you have a policy from one of the best Colorado homeowners insurance companies.

New

Climate change is impacting Colorado weather patterns, as it is in many parts of the country. These changes can impact homeowners in the state and their home insurance rates. The Climate Center at Colorado State University, in cooperation with the Colorado Water Conservation Board and Denver Water, released a report titled 2023 Climate Change in Colorado. Here are some key takeaways:

Frequently asked questions

What is the cheapest homeowners insurance company in Colorado?

The cheapest homeowners insurance for you may depend on a number of factors, including the value of your home, the area in which you live, your claims history, your credit-based insurance score, the coverage types and deductibles you choose and what discounts you qualify for. The best way to find cheap coverage is likely to compare personalized quotes from various carriers.

The cheapest homeowners insurance for you may depend on a number of factors, including the value of your home, the area in which you live, your claims history, your credit-based insurance score, the coverage types and deductibles you choose and what discounts you qualify for. The best way to find cheap coverage is likely to compare personalized quotes from various carriers.

How do I get homeowners insurance in Colorado?

Most insurance companies allow you to begin the process of getting a quote online. If you have a unique property or special coverage needs, it may be a good idea to discuss your questions with a licensed insurance agent. Once you have found a carrier that provides the coverage options you need at a price you can afford, you can purchase a policy.

Most insurance companies allow you to begin the process of getting a quote online. If you have a unique property or special coverage needs, it may be a good idea to discuss your questions with a licensed insurance agent. Once you have found a carrier that provides the coverage options you need at a price you can afford, you can purchase a policy.

Does flood insurance come with my homeowners insurance policy?

Standard homeowners insurance policies typically do not cover floods. You will want to consider purchasing a separate flood insurance policy through the National Flood Insurance Program (NFIP) or through a private carrier. If you live in a designated flood zone, your lender may require flood insurance as a condition of borrowing a mortgage loan.

Standard homeowners insurance policies typically do not cover floods. You will want to consider purchasing a separate flood insurance policy through the National Flood Insurance Program (NFIP) or through a private carrier. If you live in a designated flood zone, your lender may require flood insurance as a condition of borrowing a mortgage loan.

Methodology

Bankrate utilizes Quadrant Information Services to analyze May 2024 rates for all ZIP codes and carriers in all 50 states and Washington, D.C. Quoted rates are based on married male and female homeowners with a clean claim history, good credit and the following coverage limits:

The homeowners also have a $1,000 deductible, a $500 hail deductible and a 2 percent hurricane deductible (or the next closest deductible amounts that are available) where separate deductibles apply. 

These are sample rates and should be used for comparative purposes only. Your quotes will differ.

Bankrate Scores

Compare rates and save on home insurance today!

Mary Van Keuren has written for insurance domains such as Bankrate, Coverage.com, and The Simple Dollar for the past five years, specializing in home and auto insurance. She has also written extensively for consumer websites including Reviews.com and Slumber Yard. Prior to that, she worked as a writer in academia for several decades.

Jessa Claeys is an insurance editor for Bankrate with over a decade of experience writing, editing and leading teams of content creators. She currently covers auto, home and life insurance with the goal of helping others secure a healthy financial future. Her work has been published by several insurance, personal finance and investment-focused publications, including Jerry, BiggerPockets, 401(k) Specialist, BP Wealth and more.

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