To find the best homeowners insurance provider in Colorado, we collected over a thousand quotes from across the state. Along with price, we also compared companies' reputations for customer service and policy features.
Compare Home Insurance Quotes from Providers in Colorado
The best price for homeowners insurance we found in Colorado is $1,681. But besides price, homeowners should also consider service and coverage options before choosing which company to buy a policy from. Read on for our best pick, along with recommendations for other providers.
Best for most people: Travelers Insurance
Travelers is our home insurance recommendation for most Coloradans. We were impressed by its lower-than-average rates, well-rated customer service and coverage options beyond the basics.
Travelers' average rate for home insurance in Colorado is $1,681 — that's $132 less than the average we found statewide, and the cheapest option accessible to most homeowners. And the company has a positive complaint index from the National Association of Insurance Commissioners (NAIC), with a score of 0.30. That means Travelers customers filed only 30% as many complaints as expected for a company of that size.
Travelers offers some extra coverage options that may appeal to homeowners. This includes replacement cost coverages on your dwelling and personal property, coverage for equipment breakdown and a "roof and siding matching package" to ensure any repairs match your existing materials.
Best customer service: State Farm
Homeowners who place a priority on top-tier customer service should look at State Farm. It has very highlyranked customer service, alongside below-average prices and powerful online tools.
State Farm has an NAIC complaint index of 0.20, meaning that it receives about one-fifth as many complaints as could be expected given its size. It also received a 4/5 on the J.D. Power homeowners insurance survey, indicating that customers were generally happy with their service.
State Farm has an A++ rating from AM Best — the highest score. This means that State Farm has excellent financial practices, and a "superior" ability to pay out insurance claims, regardless of economic climate or high claim demand.
Finally, we're fans of State Farm's online tools. It's easy to get a quote, manage your policy and get a claim online.
The biggest downside to State Farm is that it isn't the cheapest option. While its prices were slightly below the state average, we still found that there were other insurers that offered more affordable rates.
Best for high-value homes: Chubb
We recommend Chubb insurance for owners of high-value homes, as Chubb offers premium service and coverage options that appeal to affluent customers. Chubb also offered very competitive rates, albeit with a caveat.
Chubb is famous for its extremely high level of customer service. Customers report hassle-free claims and generous limits as key benefits of the company's insurance policy. And it offers plush benefits that other insurers generally don't offer. For example, Chubb provides a "cash-out" option if your home is totally destroyed: instead of using the money to rebuild your home, you can simply take a check for the same amount.
Chubb's rates for our sample property were very affordable: just $1,184 for $348,900 of coverage. However, it may be difficult for homeowners to secure these same prices. Chubb typically imposes coverage minimums, meaning that you'll only be eligible if you buy at least a certain dollar amount of insurance. Chubb doesn't publish what that amount is, so we can't be certain that a home with this level of coverage would be eligible for a policy from Chubb.
Best for military families: USAA
Members of the military and their families should take a look at USAA. Its highlyregarded customer service and military specific coverages make it worth considering, though its rates are not as competitive in Colorado as they are in other states.
USAA is well-known for having a great customer experience: It has a perfect 5/5 rating from J.D. Power, and a very low 0.15 NAIC complaint index. This means USAA customers filed only 15% as many complaints as a typical insurance customer and suggests that they tended to be happy with their experience.
Soldiers can benefit from USAA's extra benefits tailored to their needs. For example, USAA's personal property coverage applies in war zones. Plus, your deductible is waived on your uniform and military equipment, so long as you're on active duty.
USAA's rates were slightly higher than average in Colorado. The typical price we found of $1,851 was 2% more expensive than the average across all companies we looked at. However, we still think it's a great choice for any homeowner who qualifies.
The best-reviewed homeowners insurance companies in Colorado
When choosing a home insurance company, customer service and stability are just as important as price. With that in mind, we've gathered customer service rankings for the top home insurance companies in Colorado.
For each insurer, we gathered the following information:
- NAIC complaint index: The amount of complaints the company has received relative to its size. Lower is better, and the national average is 1.00.
- J.D. Power homeowners survey: A national survey ranking overall consumer satisfaction of insurance companies. Higher is better.
- AM Best financial strength rating: A grade of the company's financial ability to meet claim demand, regardless of high claims (such as from a natural disaster) or negative economic climate.
|Insurer||NAIC complaint index||J.D. Power homeowners survey score||AM Best financial strength rating|
|National General Holdings Corp||0.4||--||A-|
The cheapest options for homeowners insurance in Colorado
The cheapest home insurance rate we found for most people in Colorado was $1,681 from Travelers insurance. However, we found a fairly limited price difference among major insurers in the state: Travelers was only $132 less expensive per year than the average rate statewide.
While Chubb insurance gave us the lowest overall price for home insurance in Colorado, the rate we found of just $1,184 annually may not be representative of what you are likely to pay. To establish a fair price comparison across every insurer, we used the same coverage amount across all of them — $348,900. However, Chubb specializes in high-end home insurance and may only provide policies with much higher limits.
Common homeowners insurance perils in Colorado
Due to its high elevation in the Rocky Mountains, Colorado doesn't have as much seasonal flooding as is common in Atlantic states, nor earthquakes like along the West Coast. But there are some regional dangers Colorado homeowners need to keep an eye out for.
Are wildfires covered by home insurance?
Wildfires are increasingly common in Colorado, especially in the drier and more mountainous parts of the state. And these massive fires can cause hundreds of millions of dollars of damage — for example, the 2013 Black Forest fire resulted in over $420 million of damage in the Colorado Springs area.
For the most part, damage to your home due to fires, whether they're due to a wildfire or another cause, are covered by home insurance. Fire is one of the named perils covered by most home insurance policies.
However, if your home is located in an area at a very high risk of fire, some insurers may decline to sell you a policy. If that's the case, you may need to buy home insurance from a high-risk insurance provider, which is generally more expensive than a policy from a typical company.
If your home is in a wildfire-prone area, it's essential to minimize the risk of your home being damaged by fire. Steps to take include:
- Use fire-resistant materials in the structure of your home, especially your roof
- Clear brush away from your home, particularly of dead or dry material
- Change batteries in smoke detectors twice yearly
- Keep propane and gas storage tanks far away from other structures
Is flooding covered by home insurance?
Flooding isn't as common in Colorado as it is in other states, but it does occur, especially in areas located near major rivers like the Big Thompson River or the Arkansas River.
Unfortunately, home damage due to flooding is almost never covered by homeowners insurance. If your home is at risk of flood damage, you'll need to buy a separate flood insurance policy to protect it.
Flood insurance policies are available in two forms: federally backed policies sold through the National Flood Insurance Program (NFIP) and totally private policies backed by insurance companies. NFIP policies are available to all homeowners in the U.S., regardless of flood risk. However, NFIP policies have a long mandatory waiting period and strict coverage limits.
Private flood insurance policies have shorter waiting periods and more flexibility when it comes to coverage limits, but homes at a very high risk of flooding (who need coverage the most) may not be able to get an NFIP policy.
Colorado insurance rates: City-by-city breakdown
In addition to an overall statewide price comparison, we also did a city-by-city analysis of the prices of home insurance in Colorado.
|City||Average rate||% difference from state average|
To see how home insurance rates in your city compare with those around the country, take a look at our national survey of home insurance costs in the United States.
We collected over 6,000 homeowners insurance quotes from every ZIP code in the state of Colorado. Our sample property was a 2,100-square-foot home built in 1984 carrying $348,900 of property coverage — the state's median home value.
Home insurance companies surveyed:
- American Family
- State Farm
ValuePenguin's analysis used insurance rate data from Quadrant Information Services. These rates were publicly sourced from insurer filings and should be used for comparative purposes only — your own quotes may be different.