State Auto is the cheapest home insurance company in Colorado, with rates as low as $309 per year — $1,400 cheaper than the national average of $1,724 annually.
Cheapest homeowners insurance companies in Colorado
Based on our analysis, State Auto, Auto-Owners Insurance, and Chubb are the three cheapest home insurance companies in Colorado, with average statewide premiums ranging from $309 to $1,895 per year.
Farm Bureau Insurance and Shelter Insurance are also among the most affordable home insurance carrier options for Colorado residents in 2024, as detailed in the table below.
Company | Average annual cost |
|---|---|
$309 | |
$1,260 | |
$1,895 | |
$1,901 | |
$2,101 | |
$2,176 | |
$2,286 | |
$2,338 | |
$2,457 | |
$2,687 | |
California Casualty | $2,851 |
$3,048 | |
$3,223 | |
$3,453 | |
$3,510 |
Methodology & why you can trust our rates
Policygenius has analyzed home insurance rates provided by Quadrant Information Services in March 2022 for ZIP codes in all 50 states plus Washington, D.C., for a 40-year-old female homeowner with no claim history, good credit, a $1,000 deductible, and the following coverage limits:
Dwelling: $300,000
Other structures: $30,000
Personal property: $150,000
Loss of use: $60,000
Liability: $300,000
Medical: $1,000
All rates based on the above coverage limits except where otherwise noted.
Some carriers may be represented by affiliates or subsidiaries. Rates provided are a sample of costs. Your actual quotes may differ.
Learn more >> Best home insurance companies in Colorado in 2024
Cheapest home insurance rates with a history of claims
Having a history of claims is one of the most likely reasons why your rates would be expensive. With multiple claims on your record, insurers will consider you more likely to file future claims than a homeowner with a spotless claims history.
Homeowners with three claims within a five-year period will likely find State Auto to be their cheapest option, while Acuity is the most expensive, according to our analysis.
Company | Average annual cost |
|---|---|
State Auto | $1,132 |
Auto-Owners Insurance | $1,352 |
Farm Bureau Insurance | $1,901 |
USAA | $2,698 |
State Farm | $2,828 |
Shelter Insurance | $3,246 |
Farmers | $3,575 |
Chubb | $3,579 |
Allstate | $4,179 |
American Family | $4,197 |
California Casualty | $4,941 |
Nationwide | $5,080 |
Country Financial | $6,214 |
Foremost | $6,298 |
Acuity | $6,854 |
Cheapest home insurance rates if you have poor credit
Insurance companies take your credit score into consideration when determining your home insurance premium.
Insurers consider customers with poor credit to be more likely to file claims for small losses or damages rather than cover the costs themselves out of pocket, so they'll often charge more in premiums as a hedge against the higher risk of claim payouts.
State Auto is the most affordable if you have a low credit score, while Auto-Owners Insurance is the priciest, according to our analysis.
Company | Average annual cost |
|---|---|
State Auto | $932 |
Farm Bureau Insurance | $2,232 |
Shelter Insurance | $2,539 |
USAA | $3,157 |
Chubb | $3,162 |
Allstate | $3,322 |
Foremost | $3,545 |
American Family | $3,686 |
Nationwide | $3,960 |
California Casualty | $4,405 |
Acuity | $4,864 |
State Farm | $4,864 |
Country Financial | $5,568 |
Farmers | $6,196 |
Auto-Owners Insurance | $14,337 |
Cheapest home insurance rates if you have an older home
Insurance carriers consider older homes to have a higher risk of damage or loss compared to newer homes since they're constructed with older or obsolete materials that are more difficult to replace. Additionally, certain structural components in older homes, like the roof or plumbing systems, may not be up to code.
Looking at average quotes for a 50-year-old home, State Auto is the cheapest home insurance option for Colorado homeowners, while Country Financial is the most expensive.
Company | Average annual cost |
|---|---|
State Auto | $551 |
Auto-Owners Insurance | $1,258 |
USAA | $1,863 |
Chubb | $1,895 |
Farm Bureau Insurance | $1,955 |
Foremost | $2,116 |
Shelter Insurance | $2,172 |
American Family | $2,493 |
Allstate | $2,658 |
State Farm | $2,828 |
California Casualty | $2,867 |
Nationwide | $2,907 |
Farmers | $3,230 |
Acuity | $3,595 |
Country Financial | $4,156 |
Common home insurance discounts in Colorado
Many insurance companies offer discounts for bundling home and auto insurance, paying your premium up front, not filing claims, and more. These are just some of the discounts that can add up to big savings on your policy:
Bundling discount
Claims-free discount
Affiliation discount
Protective devices discount
New construction discount
Learn more >> 13 homeowners insurance discounts
How to lower the cost of home insurance in Colorado
There are many things that can help you save on the cost of home insurance in Colorado, including taking advantage of available discounts, maintaining a good credit score, and raising your deductible. Another way to lower your homeowners insurance rates is by shopping around for home insurance in Colorado.
Why are home insurance rates in Colorado going up?
With many insurance companies in Colorado pulling back from high-risk areas due to record wildfire losses in last year's Marshall Fire and overall inflation concerns, home insurance is getting both more expensive and scarce in certain parts of the state.
In fact, Colorado homeowners pay an average of $2,322 per year for a home insurance policy with $300,000 in dwelling coverage, according to our latest pricing analysis.
In response to these surging home insurance costs, Colorado's insurance commissioner has suggested that the state adopt its own version of a FAIR Plan, which is a type of last-resort home insurance policy for those who can't find coverage.
Others have suggested passing legislation that would legally require Colorado insurers to offer coverages that prevent underinsurance in the wake of a natural disaster, like guaranteed replacement cost or inflation guard coverage.
Learn more >> Our complete guide to home insurance in Colorado
