State Farm, Farmers and Chubb are Colorado's best cheap renters insurance companies. State Farm tops the list for affordable rates, while Farmers has the best customer reputation. Chubb offers the most comprehensive coverage options.
Cheap Renters Insurance in Colorado
Updated: April 22, 2025
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Key Takeaways
State Farm is Colorado's best overall renters insurance company, offering the cheapest policy at $161 annually.
Renters insurance in Colorado costs around $15 per month but ranges from $13 to $42.
To get the best and most affordable renters insurance, determine your coverage needs first, research costs and compare multiple quotes.
Colorado Renters Insurance Quote Estimates
MoneyGeek's renters insurance calculator will give you a customized estimate of your renters insurance costs.
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Rates updated:
Apr 24, 2025
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Best Cheap Renters Insurance Companies in Colorado
| State Farm | 93 | $13 | $161 |
| Farmers | 84 | $19 | $233 |
| Chubb | 81 | $42 | $501 |
| COUNTRY Financial | 81 | $21 | $249 |
| Allstate | 78 | $30 | $366 |
*This list shows rates for a renter with good credit, no claims history, $50K in property damage coverage, $100K in liability coverage, a $1,000 deductible and guaranteed replacement.
Compare Personalized Best Cheap Renters Insurance in Colorado
While the list above covers most renters, it may not reflect the best options for your needs. Below is a filterable table tailored to match your profile, helping you find the best choice in Colorado.
Data filtered by:Results filtered by:
Select
Coverage Level:$50K Personal Property / $100K Liability
Select
Deductible:1000
Select
Claims History:Claim free for 5+ years
Select
Contents Replacement:Yes
Select
Credit Tier:Good
| Auto-Owners | 92 | $8 | $98 |
| State Farm | 89 | $10 | $120 |
| Allstate | 72 | $15 | $175 |
| Farmers | 71 | $15 | $178 |
| COUNTRY Financial | 68 | $15 | $183 |
Best Colorado Renters Insurance Reviews
Below are more details about our top picks for affordability, customer service and coverage options for renters insurance in Colorado.
State Farm: Most Affordable Plans
pros
Most affordable rates
High financial stability ratings
Strong add-on coverage options
cons
Below-average customer satisfaction
COMPANY HIGHLIGHTS
State Farm offers Colorado's lowest renters insurance rates, starting at $13 monthly. It also ranks seventh in J.D. Power's customer satisfaction ratings.
Farmers: Best for Customer Service
pros
High customer satisfaction ratings
Strong bundle discounts
cons
Limited add-on availability
COMPANY HIGHLIGHTS
Farmers is Colorado's second-most affordable provider and excels in customer satisfaction. It offers unique options like the Declining Deductible program, which reduces your deductible by $50 each year you renew without filing a claim, benefiting loyal, claim-free customers.
Chubb: Best for Coverage Options
pros
Most extensive coverage options
Global coverage of personal belongings
cons
Highest rates in Colorado
Must go through agents for coverage and claims
COMPANY HIGHLIGHTS
Chubb, Colorado's most expensive provider, excels in coverage options, leading J.D. Power's customer and claims satisfaction ratings. Its standout offerings include valuable articles coverage and cyber coverage.
Average Cost of Renters Insurance in Colorado
Renters insurance costs about $15 monthly in Colorado, $5 lower than the national average of $20. These rates reflect a policy with $50K in personal property coverage, $100K in liability limits and a $1,000 deductible.
Your actual rate may vary based on your profile. Check our table below to see major factors affecting renters insurance premiums and find average costs for your profile.
Data filtered by:Results filtered by:
Select
Coverage Level:$50K Personal Property / $100K Liability
Select
Deductible:1000
Select
Claims History:Claim free for 5+ years
Select
Credit Tier:Good
Select
Contents Replacement:Covered
| $50K Personal Property / $100K Liability | $15 | $186 |
Average Colorado Renters Insurance Cost by City
Renters insurance costs vary widely by city. The average annual premium in Arvada is $166; in Denver, it's $181 for a policy with $50K in personal property coverage and $100K in liability coverage. Check the table below for the average cost in your city.
| Arvada | $166 |
| Aurora | $172 |
| Boulder | $167 |
| Centennial | $168 |
| Colorado Springs | $168 |
| Denver | $181 |
| Fort Collins | $160 |
| Greeley | $175 |
| Highlands Ranch | $164 |
| Lakewood | $168 |
| Pueblo | $179 |
| Thornton | $171 |
| Westminster | $168 |
*This table shows rates for a renter with good credit and no claims history. Policies include $50K property damage coverage, $100K liability coverage, a $1,000 deductible and guaranteed replacement.
Colorado Renters Insurance: Buyer's Guide
Finding the best renters insurance in Colorado can be tough with so many choices. Our comprehensive guide helps you find the right coverage for your needs.
How to Find the Best Cheap Renters Insurance in Colorado
Finding the best and cheapest policy for your needs can be challenging with so many options. Follow this step-by-step guide to choose the right coverage for your profile.
- 1
Determine the right coverage level
Understand how much coverage you need before comparing rates. Consider what you want insured, its value and risks like weather, crime or pets.
- 2
Research costs and discounts
Check average costs for your profile to ensure you get a good deal. Look into discounts you may qualify for to maximize savings.
- 3
Compare providers
Evaluate providers' reputations and costs to find suitable options before requesting quotes. This will help you narrow your search for the best deals.
- 4
Consider bundling
If you have auto insurance, see if your provider offers discounts for bundling renters insurance. Bundling can significantly reduce or even cover the cost of renters insurance.
- 5
Compare multiple quotes through different channels
Request quotes from at least five providers, ensuring coverage levels match for accurate comparisons. Use various methods, such as online tools, provider websites, brokers and phone calls, as quotes can differ.
- 6
Compare rates annually
Insurance rates change often, so your current provider may not remain the most affordable. Compare rates yearly to ensure you get the best price.
How Much Renters Insurance Do I Need in Colorado?
Renters insurance isn't required by law in Colorado, but most landlords require at least $100K in liability coverage. Requirements may vary based on your rental history, credit and pet ownership. Consider how much property you want covered, weather risks, crime in your area and if you own a pet.
Use our calculator below to determine your ideal personal property limits and how much renters insurance you need.
Personal Property Coverage Calculator
When figuring out how much renters insurance you need, experts recommend the standard $100,000 in liability insurance and enough personal property protection to cover your possessions. Use MoneyGeek's calculator to estimate the value of your possessions so you know how much personal property coverage to buy.
clothing & accessories
Clothes, shoes, bags, belts, hats, gloves, etc.
Colorado Renter Risk Considerations
Colorado renters face certain risks that may require additional insurance coverage:
- Weather risks: Flooding is Colorado's most common natural disaster. The state is also at high risk of tornadoes and wildfires. Standard coverage may not cover these threats, requiring a separate purchase.
- Crime risks: Colorado ranks second nationwide for property crime rate and 26th for identity theft and fraud. Consider add-ons or supplemental property damage coverage.
- Pet ownership: You might need pet liability coverage depending on your pet. Check how different providers handle pet coverage and whether it's included in standard policies.
- Property types: Standard policies may not fully cover special tools, valuables, electronics or structures like pools on rented property. Look for companies offering specific add-ons for these items.
How Does Renters Insurance Coverage Work?
Renters insurance typically covers damage to your property, liability for harm to others and loss of use related to your rental home. Additional coverage options can make your policy more comprehensive. Common types of renters insurance coverage include:
Coverage Type | Standard or Add-on | Coverage Details |
|---|---|---|
Standard | Reimburses you for personal property within your rental up to a specified limit. Without replacement cost coverage, reimbursement is based on the item's actual cash value, not the original purchase price. Replacement cost coverage ensures you receive a new item of a similar kind and quality. | |
Standard | Protects you if someone is injured on your property. It covers medical expenses and legal costs and is often required by landlords. | |
Additional living expenses | Standard | Helps with expenses like meals, lodging and transportation if you lose access to your rental home. Depending on the insurer, the limit is either a percentage of your personal property coverage or a flat amount. |
Natural disasters | Add-on | Covers personal property damage caused by earthquakes and floods. Separate policies for these disasters are available through select providers. |
Parts/Equipment | Add-on | Separate policies that cover tools, appliances and utilities in your rental home |
Scheduled property | Add-on | Allows you to insure certain valuable items up to a specified limit |
Identity theft | Add-on | Protects you financially from identity theft, covering stolen funds and legal costs. Some policies also offer monitoring services to help prevent identity theft. |
Pet liability | Add-on | Protects against injuries caused by your pet on your rental property, though a standard policy may cover this |
Modifications | Add-on | Covers parts of your rental property that aren't original, including custom additions and modifications |
Food loss | Add-on | Reimburses you for food lost due to covered incidents |
Best Renters Insurance in Colorado: Bottom Line
Colorado's best and cheapest overall renters insurance companies are State Farm, Farmers and Chubb. While we recommend these options, research and compare multiple companies and quotes to get the best deal.
Renters Insurance in Colorado: FAQ
Review our experts' answers to frequently asked questions below:
What is the cheapest renters insurance company in Colorado?
State Farm offers the cheapest renters insurance in Colorado, with an average annual premium of $161 or $13 per month.
What is the best renters insurance company in Colorado?
State Farm is the best renters insurance company in Colorado, with a MoneyGeek score of 93 out of 100 due to its excellent mix of cost effectiveness, customer satisfaction and comprehensive coverage options.
How much does renters insurance cost in Colorado?
The average cost of renters insurance in Colorado is $186 per year or $15 per month, 23% lower than the national average. Annual premiums range from $161 to $501.
Is renters insurance required in Colorado?
Renters insurance isn't legally mandated in Colorado, but your landlord may require it. Evaluating your needs and circumstances can help determine whether buying a policy is right for you. Some reasons to get renters insurance include financial protection against common perils and liability costs of third-party injuries.
How We Found the Best Cheap Renters Insurance Companies
We based our affordability score (60% of the total score) on quotes for a profile with:
- $50K personal property coverage
- $100K liability coverage
- $1,000 deductible
- Property replacement coverage
- Good credit score
Our complete scoring also considered:
- Customer satisfaction from industry research (25%)
- Add-on coverages (10%)
- Financial strength ratings (5%)
About Mark Fitzpatrick
Mark Fitzpatrick, a Licensed Property and Casualty Insurance Producer, is MoneyGeek's resident Personal Finance Expert. With over five years of experience analyzing the insurance market, he conducts original research and creates tailored content for all types of buyers. His insights have been featured in publications like CNBC, NBC News and Mashable.
Fitzpatrick holds a master’s degree in economics and international relations from Johns Hopkins University and a bachelor’s degree from Boston College. He's also a five-time Jeopardy champion!
Passionate about economics and insurance, he aims to promote transparency in financial topics and empower others to make confident money decisions.
sources
- Colorado Water Conservation Board. "Hazards." Accessed April 22, 2025.
- Insurance Information Institute. "Facts + Statistics: Identity Theft and Cybercrime." Accessed April 22, 2025.
- U.S. News. "Low Property Crime Rate." Accessed April 22, 2025.