Reviews Report
- Auto-Owners is the best home insurance company in Colorado for military service members, earning a 4.8 out 5 Reviews.com score.
- Auto-Owners is also the cheapest Colorado home insurance company, with $1,110.28 average premiums per year.
- Colorado homeowners who are looking for the best discounts should consider Allstate home insurance.
If you are in the market for homeowners insurance in Colorado, it can be challenging to figure out which company is right for you. To simplify your shopping experience, we did some research to find the best homeowners insurance in Colorado.
We determined that the top providers in Colorado are Auto-Owners, USAA, Allstate, American Family, Travelers, and State Farm. We chose these providers based on their average rates, coverage options, discounts, financial strength scores, and third-party ratings.
Reviews.com used Quadrant data for average home insurance premiums in Colorado, and a unique in-house methodology to compare discounts, coverage, and third-party evaluations to rank and review the best home insurance in Colorado. Compare quotes from carriers that provide home insurance in Colorado to make sure you get the best homeowners insurance rates available.
The 6 Best Home Insurance Companies in Colorado
- Auto-Owners: Best Colorado Home Insurance for Affordable Coverage
- USAA: Best Colorado Home Insurance for Military Members and Families
- Allstate: Best Colorado Home Insurance for Discounts
- American Family: Best Colorado Home Insurance for New Homebuyers
- Travelers: Best Colorado Home Insurance for Sustainable Homes
- State Farm: Best Colorado Home Insurance for Policy Bundling
Compare the Best Home Insurance Companies in Colorado
| Average Annual Premiums* AM Best rates insurance providers creditworthiness. Ratings are based on the provider’s ability to follow through with a payout when a consumer files a claim. | Reviews.com Score Score is based on company’s customer experience, financial stability, and coverage options. | AM Best Financial Strength AM Best rates insurance providers creditworthiness. Ratings are based on the provider’s ability to follow through with a payout when a consumer files a claim. | J.D. Power Customer Satisfaction** J.D. Power scores are based on surveys for customer satisfaction and product quality. | ||
|---|---|---|---|---|---|
| Pin Auto-Owners | $1,110.28 | 4.8 | A++ | 843 | |
| Pin USAA | $2,615.10 | 3.8 | A++ | 889 | |
| Pin Allstate | $2,672.19 | 3.8 | A+ | 829 | |
| Pin American Family | $2,093.82 | 3.6 | A | 821 | |
| Pin Travelers | $1,773.46 | 3.2 | A++ | 803 | |
| Pin State Farm | $2,372.85 | 2.8 | A++ | 829 |
Information accurate as of June 2021
* Data provided by Coverage.com
**J.D. Power 2020 Home Insurance Satisfaction Study. Based on a 1,000-point scale.
Best for Affordable Coverage
Why we chose it
Why we chose it
Pros
- Lower premiums on average
- Excellent financial strength
- Variety of discounts
Cons
- Must work with agent to buy policy
- No option to get a quote online
Add-on Coverage
- Guaranteed home replacement cost
- Special personal property
- Homeowners Plus package
- Identity theft expense
- Water backup/sump pump
- Ordinance/law
- Equipment breakdown
Discounts Available
- Multi-policy
- Life multi-policy
- Payment history
- Paperless
- Protective devices
- Automatic backup generator
- Pay in full
- Advance quote
- Water shut off system
- Mortgage-free
- Favorable loss
More Auto-Owners Insurance Reviews
Best for Military Members and Families
Why we chose it
Why we chose it
Pros
- Outstanding customer service rating
- Policies tailored to military family needs
- Competitive pricing
- Replacement cost coverage is standard for personal items
Cons
- Only available to current and former military members and their families
- Limited coverage options and discounts
- Few branch locations
Add-on Coverage
- Home sharing
- Earthquake
Discounts Available
- Multi-policy
- Home security system
- Claim-free
More USAA Insurance Reviews
Best for Discounts
why we chose it
Why we chose it
Pros
- Diverse discount opportunities
- Informative website and digital tools
- Good variety of endorsements for customized coverage
Cons
- More expensive premiums than competitors
- High number of NAIC complaints
- Replacement cost coverage isn’t standard
Add-on Coverage
- HostAdvantage insurance
- Flood insurance
- Identity theft restoration
- Water backup
- Scheduled personal property
- Business property
- Sports equipment
- Green improvement reimbursement coverage
- Yard and garden
- Electronic data recovery coverage
- Musical instrument
Discounts Available
- Multi-policy
- Responsible payer
- Claim-free
- Welcome and loyalty
- Homebuyer
- Automatic payments
- Protective device
- Early signing
More Allstate Insurance Reviews
Best for New Homebuyers
why we chose it
Why we chose it
Pros
- Customizable coverage options
- Good customer satisfaction ratings and 24/7 claims center
- Strong financial ratings
- Helpful digital resources for new homebuyers
Cons
- Not available in every state
- Doesn’t have the best financial strength rating
- Only a few add-on coverage available
Add-on Coverage
- Equipment breakdown
- Water backup/sump pump
- Matching siding protection
- Credit theft protection
Discounts Available
- Smart home device
- Multi-policy
- Newer home
- Renovated home
- Loyal customer
- Autopay
- Pay in full
- Paperless billing
- Generational customer
More American Family Insurance Reviews
Best for Sustainable Homes
why we chose it
Why we chose it
Pros
- Slightly lower premiums than competitors
- Specialty coverages and discounts for green homes
- High financial strength rating
Cons
- High financial strength rating
- Not many discounts
- High number of complaints
Add-on Coverage
- Special personal property
- Contents replacement cost
- Additional replacement cost protection
- Jewelry and valuables
- Personal articles floater
- Water backup/sump pump
- Green home
- Identity fraud
Discounts Available
- Multi-policy
- Homebuyer
- Loss-free
- Protective device
- Green home
More Travelers Insurance Reviews
Best for Policy Bundling
why we chose it
State Farm has one of the best policy bundling discounts, with average savings of up to $965. It’s a great option for Colorado homeowners who want to insure their home and car with the same company.
Why we chose it
State Farm has one of the best policy bundling discounts, with average savings of up to $965. It’s a great option for Colorado homeowners who want to insure their home and car with the same company.
Pros
- Excellent financial strength rating
- Great discounts and policy bundling opportunities
- Strong reputation in the industry
- Some helpful online tools and resources
Cons
- Very high number of complaints
- Higher average premiums than competitors
- Only a few endorsements available
Add-on Coverage
- Earthquake insurance
- Flood insurance
- Identity theft coverage
- Valuables coverages
Discounts Available
- Multi-policy
- Impact-resistant roof
- Home security system
More State Farm Insurance Reviews
The Cheapest Homeowners Insurance Companies in Colorado
| Largest Companies by Market Share in Colorado | Average Annual Premium |
|---|---|
| State Auto Prop & Cas Ins Co | $664 |
| Owners Ins Co | $814 |
| Grange Ins Assn | $905 |
| Chubb | $1,409 |
| USAA | $1,568 |
| Travelers | $1,613 |
| Garrison Prop & Cas Ins | $1,647 |
| American Family Insurance | $1,745 |
| Allstate | $1,905 |
| Shelter Mut Ins Co | $2,112 |
| State Farm | $2,187 |
| Encompass | $2,383 |
| First Liberty Ins Corp | $3,952 |
| Farmers Insurance | $4,406 |
Cost of Homeowners Insurance by Age of Home
| Age of Home (years) | Sample Annual Premium |
|---|---|
| 5 | $2,074 |
| 20 | $3,002 |
| 35 | $2,931 |
| 50 | $2,907 |
| Average Across Ages | $2,729 |
Top 3 Cheapest Homeowner Insurance Companies in Colorado
- State Auto Property & Casualty Insurance Co.: $664
- Owners Insurance Co.: $814
- Grange Insurance: $905
Top 3 Most Expensive Homeowner Insurance Companies in Colorado
- Farmers Insurance: $4,406
- First Liberty Insurance Corporation: $3,952
- Encompass: $2,383
Common Home Insurance Perils in Colorado
There are a handful of common home insurance perils that homeowners in Colorado should be aware of. Understanding these risks can help you decide what type of coverage you might need, and how much coverage is necessary for your home.
One of the most prevalent Colorado home insurance perils are wildfires, which are becoming more common due to climate change. According to the III, Colorado has the third highest risk of wildfires in the country, only behind California and Texas. An estimated 371,100 properties, or 17% of the homes in the state, could get damaged or destroyed by a wildfire.
Another common peril is flooding, which is often caused by heavy rain and snow melt. The last major flood in Colorado occurred in 2013, when 1,600 homes were destroyed after multiple heavy rain storms. However, Colorado officials say that every county in the state has at least a few areas that are prone to flooding year-round.
Add-on home insurance coverage in Colorado
Standard Colorado home insurance policies are pretty comprehensive. You can check your policy’s declaration page to see exactly what your policy does and does not cover. However, Colorado homeowners can benefit from purchasing certain optional coverages for added protection.
Flood insurance is one of the most important policies to have because standard Colorado home insurance doesn’t cover water damage or flooding. All of the providers we reviewed sell flood insurance through the federally-funded National Flood Insurance Program (NFIP). Along with that, many homeowners can benefit from purchasing replacement cost coverage for their dwelling or personal belongings, which provides a bigger payout after a covered loss.
If you keep jewelry or other valuable items in your home, you should also consider getting valuables coverage or scheduled personal property coverage added to your home insurance in Colorado, which is available from all the providers we reviewed. This endorsement raises your coverage limits for certain items that would otherwise be covered at a very low limit.
For Colorado homeowners who need some extra help deciding how much or what type of coverage to get, check out these resources:
- Rocky Mountain Insurance Information Association: Colorado Wildfire and Insurance Guide
- Colorado Department of Insurance: Home Insurance Premiums Report
- Colorado Department of Insurance: My Homeowners Insurance Doesn’t Cover What?
Colorado Home Insurance FAQ
Methodology
We evaluated Colorado home insurance companies based on availability, customer satisfaction, financial stability, and coverage to determine Reviews.com score and create our best home insurance reviews. To compare home insurance companies with other providers across the board, we calculate each Reviews.com score based on the following:
- Coverage: The more options a home insurance company has for insurance add-ons and coverages, the higher it scores in our methodology.
- Customer Experience: We reviewed the National Association of Insurance Commissioners’ National Complaint Index and compared each homeowners insurance company’s complaint rating.
- Customer Satisfaction: With J.D. Power’s 2020 Home Insurance Satisfaction Study, we assigned a score to each company based on the rating it received.
- Financial Stability: Reviews.com utilized AM Best ratings to assign a score based on each home insurance company’s financial stability.
- Discounts: We reviewed and compared the number of discounts advertised on each home insurance company’s website. The more available discounts, the higher the score in this metric.
About the Authors
Elizabeth Rivelli is an insurance writer for Reviews.com. Over the last year, she has covered insurance providers, best policies, industry trends and more. Elizabeth has been featured in The Simple Dollar, Bankrate and Coverage.com, among others. She holds a bachelor's degree in Communication Studies from Northeastern University in Boston, MA. The Best Term Life Insurance Companies is Elizabeth’s favorite review on Reviews.com.
