Besthome insuranceColoradoThe Best Homeowners Insurance Companies in Colorado (2024)
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Overall, Auto-Owners insurance Co is the best home insurance company in Colorado, but Chubb ranked first for homeowners looking to save money, Country Financial for service quality, and State Farm is the best for people with expensive homes or if you want to bundle homeowners insurance with other policies like auto.
MoneyGeek determined the best home insurance companies in Colorado for different homeowner profiles. We looked into various coverages and available discounts to help you find the company that fits you best.
If you’re more concerned with savings than service quality, MoneyGeek also analyzed the cheapest home insurance companies in Colorado.
Besthome insuranceColoradoThe Best Homeowners Insurance in Colorado
Best overall - Auto-Owners
Best for service quality - Country Financial
Best on a budget - Chubb
Best for expensive homes - State Farm
Best for veterans - USAA
Best for bundling - State Farm
The Best Overall Homeowners Insurance Companies in Colorado
When searching for the best homeowners insurance companies in Colorado, MoneyGeek considered customer satisfaction and claims experience alongside affordability and financial stability.
The best-rated home insurance companies in Colorado are:
- Auto-Owners Insurance Co: MoneyGeek score of 88 out of 100
- Country Financial: MoneyGeek score of 86 out of 100
USAA was not included in the rankings because it is only available to active military and veterans, but it earned a MoneyGeek score of 95 out of 100, making it an excellent option for them.
MoneyGeek explored why Auto-Owners Insurance Co and Country Financial scored highest and the unique coverages and discounts they offer.
The Top Home Insurance Companies in Colorado
1
Auto-Owners
Score:88
Auto-Owners Insurance Co received a perfect score for stability and ranked above-average for customer satisfaction and affordability. It offers an off-premises add-on coverage for personal property, which is unique. A policy costs around $2,902 per year in Colorado.
More About Auto-Owners
Not all insurers offer coverage for your personal property while you’re away from home. For example, if you damage your laptop on vacation, your policy pays for repairs. You can also add the rare equipment breakdown coverage to your policy, which helps with repair costs for various electrical and mechanical items, such as computers, air conditioners and heating units.
2
Country Financial
Score:86
You can purchase a homeowners insurance policy in Colorado from Country Financial for roughly $4,428 per year. Country Financial ranks above-average for customer satisfaction and financial strength and has an average affordability score. You can purchase add-on coverages like scheduled personal property, but unfortunately, no unique coverages are available.
More About Country Financial
You can add several common coverages to your Country Financial policy. Scheduled personal property provides additional protection for high-value items like jewelry or electronics. Country Financial also offers discounts that aren’t common among other insurers, such as responsible payment for paying on time for at least three years.
HOW WE DETERMINED THE BEST COLORADO HOME INSURANCE
MoneyGeek identified the best home insurance nationally and in Colorado using quotes from multiple providers and balancing them against property claims ratings and customer satisfaction scores from J.D. Power.
You may have a different premium and experience due to your unique situation. You can find more information by reading MoneyGeek’s methodology.
The Best Homeowners Companies in Colorado for Service Quality
Cost is a consideration, but it may not be your priority. MoneyGeek identified the top home insurers in Colorado for people who mostly value customer service and claims experience.
In Colorado, the best-rated homeowners insurance companies for service quality are:
- Country Financial: MoneyGeek score of 90 out of 100
- Auto-Owners Insurance Co: MoneyGeek score of 89 out of 100
USAA is a solid option if you have a military background. It was the top company in MoneyGeek’s analysis with a score of 100 but was excluded in this ranking since its policies aren’t widely available.
To provide you with more information about Country Financial and Auto-Owners Insurance Co, MoneyGeek analyzed why they are the best options for homeowners who prioritize service over rates.
The Top Home Insurance Companies in Colorado for Quality Service
1
Country Financial
Score:90
Country Financial scored equally high for claims and customer service at 4.5 out of 5. That means policyholders generally have a good experience when filing claims, and its policy offerings and processes are high-quality.
More About Country Financial
You have the option to choose between several add-on coverages from Country Financial, but none are unique. One example is protection against identity theft. If someone hacks your checking account or your identity is compromised, your policy covers up to $25,000 of expenses. You can also get extended reimbursement coverage, covering home damage replacement costs up to 120% for labor and materials.
2
Auto-Owners
Score:89
Auto-Owners Insurance Co received a high score of 4.8 out of 5 for claims, indicating customers receive great service when they must file a claim. Its score for customer satisfaction is lower at 4 out of 5 but still above-average.
More About Auto-Owners
If you own an off-road vehicle, ATV or a boat, you may consider adding specialty vehicle coverage to your policy to protect against damages. Service line coverage is also available to include repairs of underground wiring or piping to your home from a public utility company. Both these add-on coverages are rare but available with Auto-Owners Insurance Co.
The Best Homeowners Companies in Colorado on a Budget
Your needs and preferences determine the best home insurance company. MoneyGeek found which companies provide quality service while letting you manage costs.
The best home insurance companies in Colorado for people on a budget are:
- Chubb: MoneyGeek score of 93 out of 100
- Auto-Owners Insurance Co: MoneyGeek score of 89 out of 100
USAA came in second in MoneyGeek’s analysis at 91 out of 100, but we excluded it from the rankings because it is only available to military members.
A homeowners insurance policy from Chubb costs roughly $1,598 per year. Insurance from Auto-Owners Insurance Co has an annual average cost of $2,902.
MoneyGeek determined why Chubb is ideal for homeowners who want to save and the unique coverages and discounts it offers.
The Top Home Insurance Companies in Colorado on a Budget
pros
A homeowners insurance policy costs around $1,598 per year
Offers discounts for gated community, bundling and protective device
cons
Has a customer satisfaction score of 3.8 out of 5
COMPANY HIGHLIGHTS
Chubb received a perfect score of 5 out of 5 for home insurance affordability in Colorado. It offers several common discounts, including bundling with auto, newly constructed home, and renovated home.
There is also a rare coverage with Chubb: a discount for living in a gated community.
The Best Homeowners Companies in Colorado for Expensive Homes
Having an expensive home may mean higher insurance costs because it costs more to rebuild. MoneyGeek evaluated homeowners insurance costs in Colorado for a home that costs $2 million to rebuild against customer satisfaction ratings.
If you have an expensive home, the best home insurance companies in Colorado are:
- State Farm: MoneyGeek score of 84 out of 100
- American Family: MoneyGeek score of 82 out of 100
If you have a military background, USAA is a solid choice, ranking first in MoneyGeek’s analysis with a perfect score of 100, but we excluded it from this ranking because of its restrictions.
MoneyGeek found the reasons why State Farm is your best option if you have an expensive home and detailed the unique coverages it offers that homeowners with increased insurance needs may find beneficial.
The Top Home Insurance Companies in Colorado for High-Value Homes
pros
Above-average customer satisfaction rating of 4.1 out of 5
Offers all common discounts, like protective device and bundling
cons
A policy costs around $16,876 per year
COMPANY HIGHLIGHTS
Although you pay a higher premium than with others, State Farm has above-average customer satisfaction, which is important should you have to file a claim or address other needs.
You can choose to add several common coverages that high-value homeowners often find necessary, such as scheduled personal property and cyber event/ID theft. Scheduled personal property adds additional coverage for things like jewelry, firearms and business property. Cyber event or ID theft covers expenses for identity restoration and fraud losses.
The Best Homeowners Companies in Colorado for Veterans
MoneyGeek scored the best insurance companies for homeowners insurance in Colorado for those with a military background. USAA is the best homeowners insurance company for veterans in Colorado, with a MoneyGeek score of 95 out of 100.
If you qualify, you can purchase a homeowners insurance policy for an annual average cost of $3,436 from USAA. It is an excellent choice for active military and veterans because it offers coverage tailored to them.
The Top Home Insurance Companies in Colorado for Veterans
pros
Tailors coverages and services to the military
Perfect score for customer satisfaction (5/5)
Above-average score of 4.3 out of 5 for affordability
cons
Policies are not available to non-military members
COMPANY HIGHLIGHTS
With USAA’s high score for customer satisfaction and above-average affordability score, you can expect quality service at an affordable premium.
All USAA policies include contents replacement cost, which allows you to replace your belongings at the current replacement cost without depreciation. You also have your pick of add-on coverages for a homeowners insurance policy, like home-sharing coverage, which is rare. It’s good if you rent out a room or your entire house. There are also discounts available for bundling, protective device and being claims free for five or more years.
The Best Homeowners Companies in Colorado for Bundling
If you also need auto insurance, MoneyGeek evaluated several insurance companies to identify the best auto and home insurance bundles in Colorado for people who want to balance the best homeowners insurance with the best car insurance in Colorado.
The insurance companies in Colorado offering the best bundles are:
- State Farm: MoneyGeek score of 88 out of 100
- Allstate: MoneyGeek score of 80 out of 100
Bundling your insurance policies comes with benefits, such as extra discounts, which can help you save money. Having your homeowners and auto insurance with a single insurer also means you only deal with one company’s process, making things simpler.
The Top Home Insurance Companies in Colorado for Bundling
pros
MoneyGeek score for home insurance of 4.3 out of 5
MoneyGeek score for auto insurance of 4.2 out of 5
A 28% discount for bundling policies
COMPANY HIGHLIGHTS
State Farm scores above-average for both homeowners and auto insurance and provides a 28% discount when bundling policies, which is significant.
You can get rare coverages from State Farm for your homeowners or auto insurance policy. For homeowners, there is the energy efficiency upgrade where State Farm pays up to 150% of the loss to get more energy-efficient replacements if your air conditioning, heater or water heater requires replacing due to a covered loss. With State Farm auto insurance, you can get rideshare insurance that guarantees protection while you’re waiting to match with a rider and, except for liability, while driving.
How to Find the Best Home Insurance in Colorado
Looking for the best homeowners insurance company in Colorado requires you to consider multiple factors besides cost, such as customer satisfaction and financial stability. MoneyGeek collected the necessary information and analyzed it for you, but it is possible to do it independently.
1
Research Customer Service Reputations in Colorado
When MoneyGeek evaluated home insurance companies in Colorado, we considered customer satisfaction ratings. To gather the information, you can research J.D. Power satisfaction scores and NAIC complaint ratios in Colorado. You can find additional information from the Colorado Department of Insurance website.
2
Compare Quotes for Yourself
The rates included in MoneyGeek’s study reflect average rates for sample homeowners in certain areas of Colorado, but not all. Your insurance premiums will vary. It’s best to gather and compare home insurance quotes from at least three insurers to determine the average range of what homeowners insurance will cost you.
3
Make Sure the Company Has Coverages You Want in Colorado
Most insurance companies advertise discounts and coverages, but they are not always available in every state. Make sure you reach out to them to confirm that the home insurance coverages you need are available in Colorado.
4
Double-Check Financial Stability Ratings
You need to check financial stability ratings for Colorado home insurance companies. A better rating indicates that they can handle claims better. Remember that large insurers tend to be more financially stable, while regional companies may have less financial strength.
FAQs About the Best Home Insurance in Colorado
Determining the best homeowners insurance companies in Colorado depends on your needs and preferences. Below, MoneyGeek answers the most commonly asked questions about Colorado home insurance.
Overall, the best homeowners insurance company in Colorado is Auto-Owners Insurance Co. But, other companies came out on top for various categories. Country Financial was the top insurer for service quality, Chubb for homeowners on a budget, State Farm for expensive homes and USAA for veterans.
Chubb offers the best cheap homeowners insurance in Colorado. Remember, though, that there may be some trade-offs for a lower premium. In Chubb’s case, you pay around $1,598 per year, but you may have a less than satisfactory experience when dealing with the company because of its customer satisfaction score of 3.8 out of 5.
Expert Advice on Home Insurance in Colorado
- What advice would you give for first-time buyers looking for homeowners insurance in your state?
- How do regulations and laws in your state impact the amount or type of coverage a homeowner should buy?
- Are there any environmental factors homeowners should consider when selecting a home insurance plan in your state?
Mark Levine, Ph.D.
Professor, Daniels College of Business at The University of Denver
Jenny Usaj
Broker/Owner at Usaj Realty
Keith Fevurly
Esq., CFP (R), Senior Lecturer in Finance at Metropolitan State University of Denver
Dan Mahoney
Agent Broker at Insurance Group of Denver
Methodology
MoneyGeek’s scores for homeowners insurance in Colorado were calculated by using a scaled and weighted average of J.D. Power Property Claims and Customer Satisfaction Scores, real homeowners insurance quotes and financial stability ratings from A.M. Best. Our scoring system weighted J.D. Power scores 60%, affordability 30% and financial stability 10%, adjusting weightings in the sections focused on affordability and service experience specifically.
MoneyGeek analyzed homeowners insurance quotes from the top insurance companies in Colorado that were provided in partnership with Quadrant. Our analysis includes quotes from ZIP codes across Colorado. Quotes were gathered with an average home profile of 2,500 square feet, built in 2000, with an average dwelling coverage value of $250,000, liability coverage of $100,000 and personal property coverage of $100,000.
About Mark Fitzpatrick
sources
- J.D. Power. "Home Insurers Struggle with Customer Loyalty as Boomers Flock to Rental Market, J.D. Power Finds." Accessed January 8, 2022.