Living in Colorful Colorado can be pricey, and tacking on home insurance costs can feel like an avalanche on your wallet. But you have more say than you might think in your home insurance rates and you can easily carve out some savings.
Keep reading because we’ve broken down everything you need to know about home insurance in Colorado, from coverage to costs, savings and more.
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Colorado should be nicknamed the Sunshine State with an average of 300-sunny days per year. But don’t let the sunshine fool you: Colorado can experience unpredictable weather, and that can impact your home insurance.
Colorado is huge (the 8th largest state by land area), which means it experiences a wide range of weather. The state sees strong winds, heavy rainfalls, snow, tornados, hail, flash floods, and more, depending on where you live in the state.
Your home is vulnerable to these extreme weather patterns, which is why home insurance is so important. Keep reading for more info about what your home insurance does (and doesn’t) include.
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It might surprise you to know that home insurance doesn’t just cover anything that happens to your home. Only certain dangers, also known as perils, are covered. In most home insurance policies, these typically include:
The list of coverage is extensive, but not comprehensive. Some of the commonly excluded perils include:
Most policies only name the covered perils, although more generous policies will only name the excluded perils (everything else is automatically covered). Be sure to read your policy to know exactly what is and isn’t covered, so you’re more prepared should something happen.
Colorado is a large state and home insurance costs can vary wildly from county to county. But it helps to know the average cost, so you can better know what to expect.
Here’s the truth: home insurance in Colorado is more expensive than the national average. In Colorado, you can expect to pay $1,616 per year, while the national average is just $1,249. This puts Colorado in the top ten most expensive states for home insurance.
But keep in mind that your home insurance costs could be lower depending on where you live and how new your home is. Find out more info on rate calculations next.
If you’re moving to Colorado as part of your retirement dream, congrats! The Rocky Mountains may be calling, but so are your personal finances. Get our free retirement planning guide here so you can be fully prepared to live out your golden years in the beautiful state of Colorado.
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You can find affordable home insurance in Colorado that meets your needs, and no, you’re not on an altitude trip. It might require a little extra time and research on your end, but great home insurance is within reach.
Saving on home insurance doesn’t just mean peace of mind without draining the wallet; it means you can do more of what you love, whether that’s chasing fresh powder or enjoying a delicious brew at your local craft brewery.
Sound like a pipe dream? Let us prove you wrong. Get access to free quotes fast here.
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Claire Smith Claire is a creative entrepreneur with a variety of marketing and content creation skills, including blog and web copy writing, research, and strategy. She has a Masters in Cultural Studies from Queen's University and is known for thinking laterally about marketing, based on her deep knowledge of people and behavior.
