
5/5
Affordability
4.2/5
User Satisfaction
4.5/5
Financial Stability
We recommend renters insurance in Colorado as it helps you protect your belongings from unexpected disasters. And our data shows there is a $47 difference in the average annual rates of the cheapest and costliest carriers in Colorado, meaning you can save about $4 per month by opting for the most affordable provider, so it’s essential to shop around for quotes.
And quality is important too. To make it easier to find a plan that best fits your needs, MoneyGeek ranked the leading renters insurance firms across Colorado. MoneyGeek considered the main factors of customer service quality, affordability and financial strength of carriers across the state to make these rankings and help you make an informed decision.
Ensure you're getting the best rate for your renters insurance. Compare quotes from the top insurance companies.
Quality Verified
Cost is a deciding factor for most people in picking their renters insurance policy. Colorado’s two most affordable providers are Allstate and State Farm. Allstate’s renters insurance policy is priced at $9 per month, or $103 a year on average. State Farm’s average rates are only slightly more expensive at $10 per month or $125 per year.
The average premiums of all renters insurance providers are based on rates across multiple ZIP codes in Colorado. The costs listed above are for a plan with personal property coverage of $20,000, liability coverage of $100,000 and a deductible of $500.
Personal Property Coverage:
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City | Cheapest Company | Average Annual Premium |
---|---|---|
Aurora, CO | Allstate | $100 |
Aurora, CO | USAA | $122 |
Aurora, CO | Travelers | $125 |
Aurora, CO | State Farm | $125 |
Aurora, CO | American Family | $131 |
Aurora, CO | MetLife | $139 |
Aurora, CO | Farmers | $150 |
Colorado Springs, CO | Allstate | $101 |
Colorado Springs, CO | American Family | $122 |
Colorado Springs, CO | Travelers | $125 |
Colorado Springs, CO | State Farm | $125 |
Colorado Springs, CO | MetLife | $132 |
Colorado Springs, CO | USAA | $145 |
Colorado Springs, CO | Farmers | $150 |
Denver, CO | Allstate | $107 |
Denver, CO | Travelers | $125 |
Denver, CO | State Farm | $125 |
Denver, CO | American Family | $127 |
Denver, CO | USAA | $127 |
Denver, CO | Farmers | $150 |
Denver, CO | MetLife | $152 |
Ensure you're getting the best rate for your renters insurance. Compare quotes from the top insurance companies.
Saving on renters insurance is great, but you should also consider the quality of your provider.
MoneyGeek tracked the best renters insurance providers in Colorado by comparing leading providers on three criteria: AM Best’s financial stability ratings, J.D. Power’s customer service scores and overall affordability. Based on MoneyGeek’s calculations, the best renters insurance firm in Colorado is Allstate, with a score of 95 out of 100. The next best is USAA, but its services are offered only to people with a military background. State Farm ranks third with a score of 84.
Allstate provides great service and your rates can be even cheaper if you take advantage of discounts for multiple policies, safe homes, claims-free customers, auto-pay and retirees.
USAA stands out because its standard coverage includes payouts for damages caused by floods and earthquakes. Its policy promises to repair or replace damaged or stolen items with new ones. Belongings covered include valuables like jewelry, furs, china, crystal and silverware. You can also save money with USAA by obtaining claims-free and multiproduct discounts. A special rebate is also offered for renters with a monitored security alarm.
State Farm offers a strong balance of affordability and customer service. Its online quote tool makes it easy to add coverage for particularly valuable items, like jewelry or electronics.
Travelers offers some unique add-ons such as equipment breakdown coverage, which covers damages to expensive in-home equipment like air conditioners, kitchen appliances, computers and more. The company has also been around for more than 160 years, so you can be assured of its financial stability.
If you're looking to get a cheaper quote from American Family renters insurance, it offers a variety of ways to save including multiproduct, smart home, claims-free, billing, loyalty and generational discounts.
In Colorado, the insurance companies with the largest market share are State Farm (20%), USAA (12%), Liberty Mutual (11%), Allstate (10%) and American Family (10%). A large carrier is more likely to be financially stable, which means you’ll be more likely to receive a proper and timely payout for any claim you file.
renters insurance is equal to the average.
In Colorado, the average cost of renters insurance is $128 per year, which is $31 less than the national average of $159. A renter in the state pays about $11 per month, or $3 less than the monthly U.S. average. These prices are for a policy that includes personal property coverage of $20,000, liability coverage of $100,000 and a deductible of $500.
To find the cheapest rate and save money, compare renters insurance quotes from multiple providers. Doing so can save renters a considerable amount of money. For example, a renter who purchased the most affordable policy in Colorado, Allstate, could save $47 per year as compared to the most expensive policy, Farmers.
Several factors can influence your renters insurance premium. Keep the following points in mind while buying renters insurance in Colorado:
Ensure you're getting the best rate for your renters insurance. Compare quotes from the top insurance companies.
While renters insurance isn’t required in Colorado, it offers security at an affordable rate. In cases of unexpected damage caused by natural disasters or burglary, renters insurance helps ensure that your belongings are protected.
In Colorado, the average monthly rent price is $1,369, and renters make up about 31% of the population. The average monthly renters insurance premium is $11, or 0.78% of the average monthly rental rate. This cost is for a standard plan with $20,000 in personal property coverage, $100,000 in liability coverage and a $500 deductible.
You should be aware of the range of coverage offered by your policy before you buy renters insurance in Colorado.
Standard coverage typically includes personal property, medical payments, additional living expenses and liability insurance. Some plans also include features like identity theft insurance.
Personal property insurance In Colorado covers the cost of damages due to extreme weather events like wildfires and tornadoes.
Keep in mind that renters insurance policies may not cover common issues faced by people, such as the ones given below:
Read all policy details carefully to learn more about what is covered and excluded in your renters insurance plan. This can help improve the chances that your claim is accepted and reimbursed.
Ensure you're getting the best rate for your renters insurance. Compare quotes from the top insurance companies.
MoneyGeek analyzed renters insurance premiums from seven of 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 for policies with personal property coverage of $20,000, $50,000 and $100,000, liability coverage of $100,000 and a deductible of $500.
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