Cheapest Homeowners Insurance in Colorado (2024 Rates)


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Updated: May 22, 2024

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In Colorado, providers offer varied rates tailored to specific needs. For example, while Auto-Owners provides the most affordable rates for $100K in coverage, Nationwide is the top choice for new homeowners. Additionally, Chubb offers the best rates for homeowners with poor credit. MoneyGeek analyzed thousands of Colorado quotes to identify the most cost-effective option for your residence.

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2024

Why Trust MoneyGeek? MoneyGeek used information from the Colorado Division of Insurance and Quadrant Information Services to obtain data on insurance rates, discounts and more.

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These rates reflect the cheapest home insurance quotes in Colorado as of 2024.

Overall Cheapest Homeowners Insurance in Colorado

In Colorado, Auto-Owners is the cheapest home insurance provider for a policy with $100K in dwelling coverage, costing an average of $872 annually. However, increasing or decreasing your dwelling coverage limits can lead to changes in your rate. Here are the most affordable providers in the state for varying coverage levels:

  • Cheapest for $100,000: Auto-Owners at $872 per year
  • Cheapest for $250,000: Auto-Owners at $1,587 per year
  • Cheapest for $500,000: Auto-Owners at $2,466 per year

Compare costs and delve deeper into cheap home insurance using the table below to see how prices shift by dwelling coverage.

Data filtered by:Results filtered by:
Coverages:
Coverages:$100K Dwelling / $50K Personal Property / $100K Liability
Construction Year:
Construction Year:2000
Auto-Owners InsuranceAnnual Premium$872
ChubbAnnual Premium$1,095
State FarmAnnual Premium$1,495
AllstateAnnual Premium$1,948
American FamilyAnnual Premium$2,286
NationwideAnnual Premium$2,614
FarmersAnnual Premium$3,611

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Rates updated:

Jul 13, 2024

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Cheapest Home Insurance in Colorado for High-Value Homes

Auto-Owners offers the lowest home insurance rates for high-value homes in Colorado, averaging $3,007 per year for $750K in dwelling coverage. Generally, homes that are more expensive to replace need higher dwelling coverage limits, which can increase premiums. Below are the most cost-effective options in the state:

  • Cheapest for $750,000: Auto-Owners at $3,007 per year
  • Cheapest for $1,000,000: Auto-Owners at $5,098 per year

When looking at dwelling coverage, opt for limits that cover your home's replacement cost rather than your property value. Discover home insurance costs by dwelling coverage for higher limits in the table below.

Data filtered by:Results filtered by:
Coverages:
Coverages:$750K Dwelling / $375K Personal Property / $500K Liability
Construction Year:
Construction Year:2000
Auto-Owners InsuranceAnnual Premium$3,007
American FamilyAnnual Premium$5,770
AllstateAnnual Premium$6,125
State FarmAnnual Premium$6,509
ChubbAnnual Premium$8,006
FarmersAnnual Premium$11,168
NationwideAnnual Premium$12,750

Cheapest Home Insurance in Colorado for New Homes

New homeowners will find the cheapest policies for $100K in dwelling coverage from Nationwide, with rates averaging $533 per year. Since new homes in Colorado are built to modern construction standards and have a low risk of structural issues, insurance premiums are generally lower.

The cheapest insurance companies for various coverage limits in Colorado are:

  • Cheapest for $100,000: Nationwide at $533 per year
  • Cheapest for $250,000: Auto-Owners Insurance at $886 per year
  • Cheapest for $500,000: Auto-Owners Insurance at $1,322 per year

Use the table below to see how premiums can vary based on different levels of dwelling coverage for new homes.

Data filtered by:Results filtered by:
Coverages:
Coverages:$100K Dwelling / $50K Personal Property / $100K Liability
NationwideAnnual Premium$533
Auto-Owners InsuranceAnnual Premium$546
ChubbAnnual Premium$798
State FarmAnnual Premium$893
AllstateAnnual Premium$1,090
American FamilyAnnual Premium$1,952
FarmersAnnual Premium$2,735

Cheapest Home Insurance in Colorado for Those With Poor Credit

With an annual premium of $2,781, Chubb is the most affordable option in Colorado for people with poor credit seeking $100K in dwelling coverage. Colorado insurance companies use your credit score to predict whether you are likely to default on your payments. The cheapest providers for Colorado homeowners with poor credit scores are:

  • Cheapest for $100,000: Chubb at $2,781 per year
  • Cheapest for $250,000: American Family at $5,371 per year
  • Cheapest for $500,000: American Family at $7,605 per year

Maintaining a good credit score generally translates to more favorable insurance rates. For instance, the difference in average home insurance costs between individuals with poor credit ($8,226 per year) and those with good credit ($1,989 per year) for $100K dwelling coverage is $6,237 annually.

Review MoneyGeek's table below to explore cost variations across credit scores and dwelling coverage levels.

Data filtered by:Results filtered by:
Credit Score:
Credit Score:Poor
Coverages:
Coverages:$100K Dwelling / $50K Personal Property / $100K Liability
Construction Year:
Construction Year:2000
ChubbAnnual Premium$2,781
AllstateAnnual Premium$3,161
State FarmAnnual Premium$3,375
NationwideAnnual Premium$3,541
American FamilyAnnual Premium$3,723
FarmersAnnual Premium$4,802
Auto-Owners InsuranceAnnual Premium$36,199

Cheapest Home Insurance in Colorado With a Claims History

In Colorado, Auto-Owners is the most budget-friendly home insurance provider for homeowners with a single claim in the past five years and a $100K dwelling coverage limit, costing an average of $872 per year. Insurers often charge more when policyholders have a prior claim since they perceive them as a higher risk.

If you have had at least one claim in the past five years, below are the cheapest providers for varying coverage levels:

  • Cheapest for $100,000: Auto-Owners at $872 per year
  • Cheapest for $250,000: Auto-Owners at $1,587 per year
  • Cheapest for $500,000: Auto-Owners at $2,466 per year

When you have a claim history in Colorado, insurance costs change. Homeowners without claims in the last five years pay $304 less than those with at least two claims.

Find out how rates change based on your claims history, desired dwelling coverage and your home's construction year in the table below.

Data filtered by:Results filtered by:
Claims History:
Claims History:1 claim in past 5 years
Construction Year:
Construction Year:2000
Coverages:
Coverages:$100K Dwelling / $50K Personal Property / $100K Liability
Auto-Owners InsuranceAnnual Premium$872
ChubbAnnual Premium$1,352
State FarmAnnual Premium$1,495
AllstateAnnual Premium$2,340
American FamilyAnnual Premium$2,777
FarmersAnnual Premium$3,024
NationwideAnnual Premium$3,213

Cheapest Home Insurance in Colorado by Home and Roof Materials

Your home's construction and roof material have a huge impact on your insurance. For a frame home with a shake-treated roof, the cheapest annual premium in Colorado is $1,164 from Chubb. Due to their lower quality and increased susceptibility to damage, these materials cost more when it comes to home insurance. These are the least expensive options for different coverage values in Colorado:

  • Cheapest for $100,000: Chubb at $1,164 per year
  • Cheapest for $250,000: Auto-Owners at $1,232 per year
  • Cheapest for $500,000: State Farm at $1,495 per year

Higher quality materials save you money on insurance — a house with a superior construction and tile roof costs $1,173 less per year to insure, on average, than a frame home with a shake-treated roof. Colorado homeowners dealing with occasional winds and flash floods can save a lot on their insurance by investing in quality construction and materials.

Data filtered by:Results filtered by:
Home Construction Type:
Home Construction Type:Frame
Roof Material:
Roof Material:Shake-Treated
Coverages:
Coverages:$100K Dwelling / $50K Personal Property / $100K Liability
ChubbAnnual Premium$1,164
Auto-Owners InsuranceAnnual Premium$1,232
State FarmAnnual Premium$1,495
AllstateAnnual Premium$2,385
American FamilyAnnual Premium$2,996
NationwideAnnual Premium$3,700
FarmersAnnual Premium$3,937

Cheapest Home Insurance in Colorado by Deductible

You can save on your premiums by adjusting your deductible. In Colorado, for instance, the cheapest home insurance provider for a $2,000 deductible is Auto-Owners, with an annual premium of $860. Meanwhile, the $500 deductible option from Auto-Owners is priced at $889 annually.

For each deductible level, here are the cheapest companies:

  • $2,000: Auto-Owners at $860 per year
  • $1,500: Auto-Owners at $867 per year
  • $1,000: Auto-Owners at $872 per year
  • $5,00: Auto-Owners at $889 per year

The deductible on your home insurance policy is the amount you're responsible for before insurance coverage kicks in. On average, opting for a $500 deductible results in an additional expense of about $241 annually compared to choosing a $2,000 deductible in Colorado.

Data filtered by:Results filtered by:
Deductible:
Deductible:2000
Coverages:
Coverages:$100K Dwelling / $50K Personal Property / $100K Liability
Construction Year:
Construction Year:2000
Auto-Owners InsuranceAnnual Premium$860
ChubbAnnual Premium$987
State FarmAnnual Premium$1,377
AllstateAnnual Premium$1,710
NationwideAnnual Premium$2,218
American FamilyAnnual Premium$2,245
FarmersAnnual Premium$3,579

Cheapest Home and Auto Insurance Bundle in Colorado

With an annual premium of $2,803, Auto-Owners offers Colorado's most affordable home and auto bundle policy. Bundling offers significant savings and is available with most insurers.

  • Auto-Owners at $2,803 per year
  • State Farm at $2,994 per year

Bundling not only saves you money — it also makes managing both policies easier, helping buyers access and manage their coverage more efficiently. Find out more about the best Colorado insurance bundle to take advantage of these benefits.

Auto-Owners Insurance CoAnnual Premium$2,803
State FarmAnnual Premium$2,994
AllstateAnnual Premium$4,800
FarmersAnnual Premium$6,058
NationwideAnnual Premium$6,605

Cheapest Home Insurance in Colorado by City

Auto-Owners has the cheapest home insurance in most cities in Colorado, with rates starting at $719. Different costs vary from city to city because of local building regulations, crime levels, climate hazards and other factors. For instance:

  • The lowest annual premium in the state is offered in Loveland by Auto-Owners at $719.
  • Auto-Owners also has the most expensive premium in the state, in Pueblo, at $1,108.

Insurers calculate rates differently depending on where you live, so always shop around. This allows you to compare various offers, ensuring you secure the most favorable terms and coverage that align with your specific needs and the unique risk factors associated with your location.

ArvadaCheapest CompanyAuto-Owners InsuranceAnnual Premium$868
AuroraCheapest CompanyAuto-Owners InsuranceAnnual Premium$904
BoulderCheapest CompanyAuto-Owners InsuranceAnnual Premium$872
CentennialCheapest CompanyAuto-Owners InsuranceAnnual Premium$868
Colorado SpringsCheapest CompanyAuto-Owners InsuranceAnnual Premium$985
DenverCheapest CompanyAuto-Owners InsuranceAnnual Premium$889
Fort CollinsCheapest CompanyAuto-Owners InsuranceAnnual Premium$732
GreeleyCheapest CompanyAuto-Owners InsuranceAnnual Premium$858

About Mark Fitzpatrick


Mark Fitzpatrick headshot

Mark Fitzpatrick has analyzed the property and casualty insurance market for over five years, conducting original research and creating personalized content for every kind of buyer. Currently, he leads P&C insurance content production at MoneyGeek. Fitzpatrick has been quoted in several insurance-related publications, including CNBC, NBC News and Mashable.

Fitzpatrick earned a master’s degree in economics and international relations from Johns Hopkins University and a bachelor’s degree from Boston College. He is passionate about using his knowledge of economics and insurance to bring transparency around financial topics and help others feel confident in their money moves.