besthome insuranceLovelandThe Best Cheap Homeowners Insurance in Loveland, Colorado for 2023: Quotes and Reviews
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besthome insuranceLovelandThe Cheapest and Best Homeowners Insurance in Loveland
Cheapest homeowners insurance in Loveland - Auto-Owners Insurance
Best homeowners insurance in Loveland - Auto-Owners Insurance
The Cheapest Home Insurance Companies in Loveland
When shopping for home insurance in Loveland, take into account that many companies offer the same basic coverages. MoneyGeek discovered the cheapest homeowners insurance in Loveland for @250,000 in dwelling coverage to be:
- Auto-Owners Insurance Co: $769 year
- Chubb: $1,190 per year
Conversely, the cheapest providers in Loveland for expensive homes, with $2 million in dwelling coverage are:
- Chubb: $6,386 per year
- Auto-Owners Insurance Co: $6,596 per year
To see how premiums vary, change the dwelling coverage limits in the table below. Dwelling coverage is a component of your comprehensive home insurance policy and only covers the structure of your home, not the contents or the land.
The Cheapest Home Insurance in Loveland, Ranked
Dwelling Coverage:
$250,000
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All plans with initial baseline dwelling coverage include personal property coverage limits of $100,000, whereas policies with dwelling coverage of $2 million include personal property limits of $800,000. Additionally, the minimum liability coverage on any insurance policy is $100,000.
You can explore alternative Colorado home insurance options if you live in a different city.
The Average Cost of Homeowners Insurance in Loveland for 2022
Loveland$2,042
Colorado$3,156
U.S.$2,103
The average cost of homeowners insurance in Loveland is highly variable, depending on the home’s location, how old your property is and the sort of structure you have. Loveland homeowners insurance costs an average of $2,042 annually, which is less than the $3,156 state average, but more than the national average of $2,103.
Calculate the Cost of Home Insurance in Loveland
In Loveland, the cost of homeowners insurance is directly linked to where you live, your credit score, the amount of dwelling coverage you choose and the amount of personal property coverage you buy.
You may compare homeowners insurance quotes in Lakewood with MoneyGeek's home insurance calculator.
Home Insurance Calculator
State
Colorado
Dwelling Coverage
$250,000
Deductible
$500
Liability
$300,000
Personal Property
$50,000
Credit Score
Excellent
low end
on average
high end
These are annual estimates. Get a personalized quote to determine your costs.
The Best Home Insurance Companies in Loveland
If you want to ensure that any claims you file with your homeowners insurance in Loveland are processed quickly and fairly, examine the company’s financial stability and customer service ratings. MoneyGeek used a number of factors to rank home insurance companies, including price, customer reviews and financial stability to assist you.
MoneyGeek’s research shows the best home insurance companies in Loveland are:
- Best Overall: Auto-Owners Insurance Co
- Runner-up: Chubb
1
Auto-Owners Insurance
Score:97
In MoneyGeek's analysis, Auto-Owners Insurance Co came out on top. With an annual premium of $769, the company allows homeowners to choose from a variety of optional coverage options which are rarely provided by other insurers.
More About Auto-Owners Insurance
Specialty vehicle, service line, off-premises personal property, and equipment failure are among the distinctive coverages offered by Auto-Owners Insurance Co. Its service line package covers damage to underground piping or wiring that connects your property to a public utility or a private system.
Read MoneyGeek's Auto-Owners Insurance home Insurance Review2
Chubb
Score:90
Chubb emerged as a runner-up In MoneyGeek's analysis of satisfaction, cost and financial stability. The average annual cost of a Chubb homeowners insurance is $1,190, and the company provides additional optional coverages as well.
More About Chubb
Chubb provides two occasional coverages: risk consulting and cash settlement. If you decide not to rebuild or rebuild at a different location after a total loss in Loveland, Chubb will pay you a cash settlement.
Read MoneyGeek's Chubb home Insurance ReviewCheapest Home Insurance Companies in Loveland for Newly Constructed Homes
Because newer materials are easier to replace and newly built homes are more resistant to damage, homeowners are less likely to submit damage claims. Therefore, newly built homes in Loveland can be significantly less expensive to insure than older homes.
On average, a newly constructed home costs $1,317 a year to insure, much less than a home built in 2000 which costs $2,042 to insure. MoneyGeek uncovered the cheapest homeowners insurance in Loveland for new homes, with $250,000 in dwelling coverage:
- Auto-Owners Insurance Co: $496 per year
- Travelers: $867 per year
The Cheapest Home Insurance in Loveland for New Homes, Ranked
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Cheapest Home Insurance Companies in Loveland if You Have a Lot of Personal Property
Home insurance in Loveland also covers damage to personal objects stored in the home, but homeowners who want to protect more than the average amount of personal belongings will pay a higher rate. Loveland's typical home insurance policy costs $2,232 for $250,000 in personal property coverage limits, which is lower than the national average of $2,103 for the same coverage limits.
For a $250,000 personal property coverage limit, the cheapest home insurance companies in Loveland are:
- Auto-Owners Insurance Co: $840 per year
- Travelers: $1,411 per year
Cheap Companies in Loveland for Extra Personal Property Coverage
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Cheapest Home Insurance Companies in Loveland for High Deductibles
The amount of your deductible may have a significant impact on the cost of your Loveland homeowners insurance. When you choose a higher deductible, you will pay more out of pocket if you file a claim, but your annual premium will be lower.
The average cost of coverage with a $2,000 deductible is $1,850, compared to $2,042 with a $1,000 deductible. For clients with $2,000 deductibles, the cheapest homeowners insurance companies in Loveland are:
- Auto-Owners Insurance Co: $696 per year
- Chubb: $996 per year
The Cheapest Companies in Loveland for High Deductibles, Ranked
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Cheapest Home Insurance Companies in Loveland if You Have Poor Credit
Your credit score is used as a rating element for insurance pricing in Loveland, so homeowners with poor credit scores will pay more each year for home insurance. Home insurance will cost you an average of $3,162 if you have bad credit, compared to $2,042 if you have good credit.
MoneyGeek found that the cheapest homeowners insurance companies in Loveland for people with poor credit are:
- Auto-Owners Insurance Co: $769 per year
- Travelers: $2,004 per year
The Cheapest Companies in Loveland for Poor Credit, Ranked
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Getting Online Homeowners Insurance Quotes in Loveland
When exploring the options for homeowners insurance in Loveland, it's essential to obtain multiple quotes. Even for the same basic coverage, the cost of an insurance policy might differ dramatically from one provider to the next. MoneyGeek highlights some of the details you'll need to have on hand to get online homeowners insurance quotes:
- Home replacement cost: You'll need to consult with a contractor or a construction specialist to get an estimate of how much it will cost to rebuild your home. This amount is influenced by construction costs, square footage, material quality and home amenities.
- Personal property value: In addition to the value of your home, home insurance can cover the value of your personal property or belongings.
- House information: Among other things, the insurer will want to know when your house was built, how big it is, and what safety equipment it has.
- Personal information: You’ll need to provide information, such as your address, who lives in your home, insurance history and other details.
Homeowners Insurance in Loveland Analysis: Methodology
Using Quadrant data and quotes for a home with various coverage levels, MoneyGeek reviewed 11 home insurance companies in Loveland to determine affordability scores.
The base homeowner profile includes $250,000 in dwelling coverage, $100,000 in personal property coverage and $100,000 in liability coverage for a 2,500-square-foot home built in 2000. The policies had a $1,000 deductible.
For this comprehensive review, MoneyGeek also consulted J.D. Power's customer satisfaction ratings and obtained quotes for homeowners with newly built homes, higher deductibles, and additional dwelling and personal property coverage needs.
About Mark Fitzpatrick
sources
- HUB International Limited. "Home Insurance Loveland, CO." Accessed March 16, 2022.