The best and cheapest renters insurance company in Denver, Colorado is Auto-Owners, with a MoneyGeek score of 92 and an annual premium of $60. Depending on your needs, other providers may be best. For example, Chubb excels in service quality with a MoneyGeek score of 93 and an annual premium of $127. MoneyGeek also looked into the best and cheapest renters insurance in Colorado for those who live elsewhere in the state.
Best and Cheapest Renters Insurance in Denver, CO (2024)
Auto-Owners is both the best and cheapest renters insurance in Denver, Colorado, with a MoneyGeek score of 92 and an annual premium of $60. It excels in affordability and customer satisfaction.
Updated: December 4, 2024
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Key Takeaways
In Denver, Colorado, the top choice for renters insurance is Auto-Owners Insurance, which combines affordability with quality, boasting a MoneyGeek score of 92 out of 100 and an impressively low annual premium of $60. This makes it a great option for renters seeking comprehensive coverage without breaking the bank. However, if exceptional service quality is your priority, Chubb excels with a slightly higher MoneyGeek score of 93, albeit with a more expensive annual cost of $127. Selecting the best provider will depend on balancing budget-friendly options with service excellence, tailored to your personal coverage needs.
In Denver, Colorado, Auto-Owners stands out as the most cost-effective option for renters insurance, with an annual premium of just $60, ensuring a comprehensive balance between affordability and coverage. For those prioritizing service quality, Chubb offers superior service at a higher annual premium of $127. Additionally, State Farm offers competitive pricing with an annual cost of $67, making it another affordable choice. Renters looking for the best deal on insurance should consider these options based on their specific needs, such as service quality or premium affordability.
For those prioritizing excellent customer service in renters insurance, the best options in Denver, Colorado, are Chubb and American Family. Chubb tops the list with a MoneyGeek score of 93 out of 100, providing superior service despite an annual premium of $127. Meanwhile, American Family ranks with a MoneyGeek score of 87 out of 100, with a yearly cost of $169. Both companies prioritize customer satisfaction, ensuring a smooth claims process and a hassle-free experience, which can be invaluable for renters when unexpected events occur.
Why Trust MoneyGeek? We've partnered with the Colorado Department of Insurance and Quadrant Information Services to bring you reliable renters insurance options in Denver.
Renters insurance premiums in Denver represent the most competitive estimates as of September 2024.
Overall Best Renters Insurance in Denver, CO
The best renters insurance in Denver, Colorado is Auto-Owners Insurance with a MoneyGeek score of 92 out of 100 and an annual premium of $60. The following providers are the top two best renters insurance providers in Denver for a policy with $20,000 in personal property coverage, $100,000 in personal liability, and a $1,000 deductible.
- Auto-Owners: MoneyGeek score of 92 out of 100 ($60 per year)
- State Farm: MoneyGeek score of 91 out of 100 ($67 per year)
The best provider in the state is one that can balance both cost and affordability.
Auto-Owners Insurance ranks first in affordability and coverage in Denver, Colorado, with an annual premium of $60. Auto-Owners offers valuable coverages like contents replacement cost and back-up of sewer or drain. Contents replacement cost helps because it covers the repair or replacement of personal property without depreciation, ensuring renters get full value for their items. Back-up of sewer or drain covers damage caused by water back-up.
- Ranks first in Denver for affordability
- Offers contents replacement cost and back-up of sewer or drain coverage
- Ranks first in the city for coverage options
- Ranks fifth in the city for customer satisfaction
To find the best overall renters insurance in the city, MoneyGeek's scoring system prioritizes customer satisfaction and affordability. Secondary factors include coverages and financial stability.
- $100K Personal Property
- $20K Personal Property
- $50K Personal Property
Auto-Owners Insurance | 92 | $ 60 |
State Farm | 91 | $ 67 |
Chubb | 74 | $ 127 |
Allstate | 69 | $ 113 |
American Family | 57 | $ 169 |
Farmers | 56 | $ 152 |
COUNTRY Financial | 51 | $ 159 |
Cheapest Renters Insurance in Denver, CO
In Denver, Colorado, Auto-Owners offers the cheapest renters insurance with an annual premium of $60 for $20,000 in personal property coverage. Personal property coverage helps protect your belongings in case of theft, fire, or other covered events. The following providers are the top two cheapest providers in Denver for $20,000 in personal property coverage and a $1,000 deductible, and MoneyGeek rated the cheapest renters insurance in Denver with minimal consideration for customer service.
- Auto-Owners: $60 per year
- State Farm: $67 per year
Cheap renters insurance policies often have low personal property coverage limits. Higher personal property coverage limits can lead to higher monthly costs but provide better protection if you have many personal belongings.
- $100K Personal Property
- $20K Personal Property
- $50K Personal Property
Auto-Owners Insurance | 96 | $ 60 |
State Farm | 93 | $ 67 |
Allstate | 68 | $ 113 |
Chubb | 68 | $ 127 |
Farmers | 49 | $ 152 |
COUNTRY Financial | 46 | $ 159 |
American Family | 45 | $ 169 |
Cheapest Renters Insurance With a High Deductible Denver, CO
In Denver, Colorado, Auto-Owners offers the cheapest renters insurance for a policy with $20,000 in personal property coverage and a $2,000 deductible, with an annual premium of $58. A deductible is the amount you pay out of pocket before your insurance kicks in and can affect your rates. The following providers are the top two cheapest providers in Denver for $20,000 in personal property coverage and a $2,000 deductible:
- Auto-Owners: $58 per year
- State Farm: $66 per year
A higher deductible often leads to cheaper premiums, while a lower deductible means higher premiums. It's important to balance both to ensure you can afford your deductible if you need to file a claim.
- $100K Personal Property
- $20K Personal Property
- $50K Personal Property
- $ 500
- $ 1,000
- $ 1,500
- $ 2,000
Auto-Owners Insurance | 92 | $ 58 |
State Farm | 90 | $ 66 |
Allstate | 66 | $ 113 |
Chubb | 73 | $ 120 |
COUNTRY Financial | 53 | $ 143 |
Farmers | 51 | $ 152 |
American Family | 57 | $ 154 |
When selecting a deductible for your insurance policy, ensure it's an amount you can pay out of pocket if you need to file a claim. If you can afford it, opting for a higher deductible could decrease your annual premiums, leading to savings over time while still providing the financial protection you need.
Best Renters Insurance for Customer Service in Denver, CO
In Denver, Colorado, the best renters insurance company for service quality is Chubb with an annual premium of $127. The following providers are the top two best in Denver for a policy with $20,000 in personal property coverage for those who value great customer service without considering affordability.
- Chubb: MoneyGeek score of 93 out of 100 ($127 per year)
- American Family: MoneyGeek score of 87 out of 100 ($169 per year)
Great customer service is important for renters looking for insurance because it ensures a smooth and stress-free experience. For example, when you make a claim, excellent customer service can help you get your reimbursement quickly and without hassle.
Chubb ranks first in customer satisfaction and coverage in Denver, Colorado, offering the cheapest annual premium at $127. It offers contents replacement cost coverage, which covers the full cost to replace your belongings in case of a fire, water leak, or another unexpected event. Additionally, its rental car coverage provides primary car rental coverage worldwide when your liability limit is $1 million or more.
- Offers contents replacement cost and rental car coverage
- Provides protective device and bundle discounts
- Ranks first in the city for coverage
To find the best renters insurance for service quality in the city, MoneyGeek's scoring system focuses on customer service. Secondary factors include coverages and financial stability.
- $100K Personal Property
- $20K Personal Property
- $50K Personal Property
Chubb | 93 | $ 127 |
American Family | 87 | $ 169 |
Auto-Owners Insurance | 83 | $ 60 |
State Farm | 82 | $ 67 |
Allstate | 71 | $ 113 |
Farmers | 70 | $ 152 |
COUNTRY Financial | 66 | $ 159 |
Best Renters Insurance for High Personal Property Limits in Denver, CO
In Denver, Colorado, Auto-Owners stands out as the best renters insurance company for those needing high personal property coverage, with an annual premium of $130 for $100,000 in coverage. High personal property coverage is designed to protect a large amount of personal belongings, which is crucial for renters with numerous possessions. For $100K in personal property coverage, the following providers are the top two best providers in Denver:
- Auto-Owners: MoneyGeek score of 92 out of 100 ($130 per year)
- State Farm: MoneyGeek score of 90 out of 100 ($157 per year)
Renters with a substantial amount of belongings often require higher personal property coverage. This coverage safeguards items like furniture, electronics, and clothing against potential losses. While higher coverage can lead to increased premiums, it's important to find a provider that offers a balance of affordability and exceptional service.
Auto-Owners Insurance ranks first in affordability and customer satisfaction for expensive homes in Denver. With an annual premium of $130, it offers great value for renters. Auto-Owners offers contents replacement cost and back-up of sewer or drain coverages.
Contents replacement cost covers the repair or replacement of personal property without depreciation, ensuring renters get full value for their items. Back-up of sewer or drain covers damage caused by water back-up, protecting renters from costly repairs.
- Offers contents replacement cost and back-up of sewer or drain coverage
- Provides responsible payment and pay-in-full discounts
- Ranks first in the city for coverage options
- Ranks fifth in the city for customer satisfaction
To find the best renters insurance for those needing higher personal property limits, MoneyGeek's scoring system focuses on customer satisfaction and affordability. Secondary factors include coverages and financial stability.
Auto-Owners Insurance | 92 | $ 130 |
State Farm | 90 | $ 157 |
COUNTRY Financial | 81 | $ 174 |
American Family | 76 | $ 315 |
Allstate | 72 | $ 284 |
Farmers | 71 | $ 294 |
Chubb | 60 | $ 514 |
If you own valuables such as fine jewelry or art, you would need additional coverage as these items are not usually covered by standard policies. Opt for a provider that offers scheduled personal property coverage, which extends coverage to such valuables.
Best Renters Insurance for Military Families in Denver, CO
USAA is the top-ranked renters insurance company in Denver, with an annual premium of $100. USAA is exclusively for those with military backgrounds in Denver. The following providers are the top two best providers in Denver for veterans for a policy with $20,000 in personal property coverage.
- USAA: MoneyGeek score of 100 out of 100 ($100 per year)
- Auto-Owners Insurance: MoneyGeek score of 92 out of 100 ($60 per year)
USAA offers a range of products tailored for those with a military background, providing discounts and coverages that suit the military lifestyle. It is the cheapest option in Denver for military members.
USAA stands out as the premier renters insurance provider for those with a military background in Denver, leading in customer satisfaction and coverage. With an annual premium of $100, USAA demonstrates its commitment to affordability and excellence.
It offers contents replacement cost, which covers the cost of replacing belongings with brand-new ones in the event of theft or damage. It also has worldwide personal property coverage, providing peace of mind for military members at home or abroad.
- Offers contents replacement cost and worldwide personal property coverages
- Provides claims-free and military base or academy residence discounts
- Ranks No. 1 for customer satisfaction and coverage
- Does not offer the bundle discount
MoneyGeek's scoring for veterans' renters insurance prioritizes customer service and affordability. Secondary considerations include coverages and financial stability.
- $100K Personal Property
- $20K Personal Property
- $50K Personal Property
USAA | 100 | $ 100 |
Auto-Owners Insurance | 92 | $ 60 |
State Farm | 91 | $ 67 |
Chubb | 74 | $ 127 |
Allstate | 69 | $ 113 |
American Family | 57 | $ 169 |
Farmers | 56 | $ 152 |
COUNTRY Financial | 51 | $ 159 |
Best Renters Insurance for Low Credit Scores in Denver, CO
The top renters insurance provider for Denver residents with poor credit is Chubb, with an annual premium of $217 for a policy covering $20,000 in personal property. The following are the top two best providers in Denver for those with poor credit for the same type of policy:
- Chubb: MoneyGeek score of 95 out of 100 ($217 per year)
- State Farm: MoneyGeek score of 93 out of 100 ($135 per year)
In Denver, rates for renters with poor credit are typically higher since they are considered higher-risk by providers. This is because poor credit can indicate a higher likelihood of filing claims. However, there are steps you can take to improve your credit and reduce your insurance costs.
Chubb ranks first in affordability for renters insurance in Denver, with an annual premium of $217. It also leads in coverage options, making it a top choice for those with poor credit. Chubb offers discounts for buildings with protective devices, such as central station burglar alarms and fire-resistive construction.
This can help renters save on their premiums. Additionally, bundling your homeowners and auto policies with Chubb can provide further savings, making it an economical option for renters looking to cut costs.
- Chubb offers contents replacement cost and rental car coverage discounts
- Chubb ranks first in the city for coverage
- Ranks third in the city for customer satisfaction
To find the best renters insurance for those with poor credit, MoneyGeek's scoring system emphasizes customer satisfaction and affordability. Secondary factors include coverages and financial stability.
- Below Fair
- Excellent
- Fair
- Good
- Poor
- $100K Personal Property
- $20K Personal Property
- $50K Personal Property
Chubb | 95 | $ 217 |
State Farm | 93 | $ 135 |
American Family | 90 | $ 289 |
Allstate | 86 | $ 203 |
Farmers | 85 | $ 215 |
COUNTRY Financial | 83 | $ 238 |
Auto-Owners Insurance | 56 | $ 2,032 |
Average Cost of Renters Insurance in Denver, CO
The average cost of renters insurance in Denver, Colorado, is $121 annually, or $10 monthly. This is slightly higher than the state average of $114 but lower than the national average of $145. These rates are based on a renters insurance policy with $20,000 personal property limits, $100,000 liability limits, and a $1,000 deductible.
Renters should remember that the average cost of renters insurance in Denver may vary greatly depending on the amount of personal property coverage you purchase. Personal property coverage protects your belongings in case of damage or theft. Use the calculator below to see how prices change based on the value of your personal property.
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.
Based on your inputs, MoneyGeek recommends getting a policy with in personal property coverage to avoid paying out of pocket after a disaster or theft.
Factors That Impact Renters Insurance Costs in Denver
Several factors can influence the cost of renters insurance in Denver, Colorado. For example, the location of your rental property and the value of your personal belongings can significantly impact your premium. Understanding what affects the cost of renters insurance is essential when shopping for a policy, as it helps you make informed decisions and potentially save money. Below are some key factors that can impact your renters insurance costs:
- Location: Areas with higher crime rates or natural disaster risks may lead to higher premiums. Insurers consider these risks when calculating your policy cost.
- Personal Property Value: The more valuable your belongings, the higher your insurance cost. This is because the insurer will need to cover more expensive items.
- Deductible Amount: Choosing a higher deductible can lower your premium. However, you'll pay more out-of-pocket in the event of a claim.
- Credit Score: A better credit score can lead to lower insurance costs. Insurers use credit scores to assess risk.
- Coverage Limits: Higher coverage limits and additional endorsements can increase your premium. These provide extra protection but come at a higher cost.
What Renters Insurance Covers in Denver, CO
Renters insurance provides coverage for personal property, liability, and additional living expenses. It protects against theft, fire, and certain natural disasters. Purchasing renters insurance is important because it offers financial protection and peace of mind in case of unexpected events.
- Personal Property Coverage: This covers the cost to repair or replace your belongings if they're damaged or stolen. For instance, a renter may receive compensation for a stolen laptop.
- Personal Liability Coverage: This protects you financially if a guest is injured in your rental or you cause property damage. A renter could use this coverage if a guest slips and falls in their apartment.
- Loss of Use Coverage: Loss of use coverage helps with additional living expenses if your rental is unlivable due to a covered peril. A renter might rely on loss of use coverage to pay for a hotel stay after a fire.
Renters insurance typically covers losses from incidents like theft, fire and water damage. Understanding your policy's specific coverage is key to ensuring you're protected. Here are common situations renters insurance covers:
- Fire or lightning
- Windstorm or hail
- Explosions
- Riots
- Aircraft
- Vehicles
- Smoke damage
What Renters Insurance Does Not Cover in Denver
Although renters insurance provides a financial safety net, it doesn't shield against every mishap. For instance, it typically excludes flood damage and your roommate's possessions.
- Natural Disasters: Standard renters insurance often does not cover damage from earthquakes or floods.
- Roommate's Belongings: Personal property coverage does not extend to items owned by a roommate unless they are listed on the policy.
- High-Value Items: Expensive jewelry or electronics may exceed the policy's limit and require additional coverage.
- Business Equipment: Property used for business purposes might not be covered under a standard renters insurance policy.
- Pest Damage: Infestations and damage from pests like bed bugs or rodents are usually not covered.
- Car Theft: While personal property stolen from your car may be covered, the theft of the car itself is not.
FAQ: Renters Insurance in Denver, CO
The best renters insurance provider depends on your unique needs. We answered the frequently asked questions to help you make an informed decision.
How much is renters insurance in Denver, Colorado, on average?
The average cost of renters insurance in Denver, Colorado, is $121 annually.
What is the cheapest renters insurance company in Denver, Colorado?
The cheapest renters insurance company in Denver, Colorado, is Auto-Owners with an annual premium of $60.
What is the best renters insurance company in Denver, Colorado?
The best renters insurance company in Denver, Colorado, is Auto-Owners , scoring 92 on MoneyGeek's scale.
Do I need renters insurance in Denver, Colorado?
While renters insurance is not legally required in Denver, Colorado, it is recommended to protect your personal property.
About Mark Fitzpatrick
Mark Fitzpatrick is a Licensed Property and Casualty Insurance Producer and MoneyGeek's Head of Insurance. He has analyzed the insurance market for over five years, conducting original research and creating personalized content for every kind of buyer. He 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.