The average cost of homeowners insurance in Denver is $3,021 per year for a policy with $300,000 in dwelling coverage, according to our latest insurance pricing analysis. With several insurance carriers no longer offering coverage in high-wildfire risk areas or pulling out of the state altogether, it's gotten both more expensive and difficult to find home insurance in Colorado.
Given the turbulent home insurance market in Colorado in 2023, we put in extra research to ensure our picks for the best home insurance companies in Denver were based on currently available options. This means carriers with even temporarily limited coverage were not considered for this guide.
Compare the best cheap homeowners insurance companies in Denver
Based on our analysis of insurance carriers across Colorado, State Farm, Farmers, American Family, Nationwide, and Allstate are the best homeowners insurance companies in Denver.
To find the best cheap homeowners insurance in Denver, Policygenius reviewed over a dozen of the largest insurance companies in Colorado and chose the five with the highest overall Policygenius rating.
Our ratings are based on each company's financial strength and customer service ratings, the number and quality of available coverage, and average carrier premiums in each of Denver's 39 ZIP codes.
Company | Average monthly cost | Policygenius rating | |
|---|---|---|---|
$250 | 4.8 out of 5 | ||
$372 | 4.5 out of 5 | ||
$226 | 4.5 out of 5 | ||
$366 | 4.5 out of 5 | ||
$209 | 4.4 out of 5 |
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.
2024 Policygenius award winner
State Farm
4.8
Bundle home & auto
Offers extended replacement cost
All 50 states
Why we chose it
State Farm is the best overall home insurance company in Denver due to its statewide availability, wide range of policy options for homes of all shapes and sizes, high marks for customer service, and its industry-best financial stability ratings.
Pros and cons
Pros
High customer satisfaction and financial strength ratings
Top-tier coverage add-ons, including extended replacement cost coverage
Offers large discounts when you bundle your home and auto insurance
Cons
20% more complaints filed with the NAIC than other companies of its size
No discounts for first-time homebuyers
More details
Why we chose State Farm
As the largest home insurance provider in Colorado, State Farm is best known for its easy-to-reach and dependable customer service. And this goes for all steps of the the customer journey — from shopping and setting up your policy to making changes to your coverage to filing a claim.
What makes this possible is State Farm's extensive network of local agents who understand the weather risks and overall coverage needs of their community. This is an especially important consideration for Denver residents given Colorado's worsening wildfires and the increasingly difficult process of getting approved for home insurance.
Plus, while many competitors don't have the financial strength to pay out claims after several natural disasters in the same year, State Farm isn't one of them. It earns the highest rating possible from A.M. Best for financial strength and stability — only six insurance companies out of nearly 70 we reviewed hold this title.
How do State Farm home insurance rates compare to the Denver average?
The average cost of State Farm home insurance in Denver is $3,000 per year, which is about 1% cheaper than the average annual premium in Denver of $3,021.
How to get a quote
Online through State Farm or by contacting your local State Farm agent.
2024 Policygenius award winner
Farmers
4.6
Offers extended replacement cost
Bundle home & auto
Smart home discounts
Why we chose it
In addition to helping you save around 20% by bundling your home and car insurance, Farmers also gives you access to its extensive suite of discounts, policy credits, and incentives for not filing claims that can put even money back in your pocket.
Pros and cons
Pros
Over a dozen available discounts to help lower your bill
Optional extended or guaranteed replacement cost coverage to better protect your home
Declining deductibles features takes $50 off your deductible each year you’re a Farmers customer
Cons
Ranks low with J.D. Power for overall customer satisfaction and digital customer service experience
Average annual premium is among the highest in Colorado
More details
Why we chose Farmers
Farmers home insurance stands out against competitors thanks to its 17 available discounts and policy perks. For context, Farmers competitors offer an average of around seven discounts total.
Along with several discount offerings and affordable rates, Farmers also offers the following two key policy perks:
Declining deductibles: Earn $50 toward your home deductible each year you have a home insurance policy with Farmers.
Claim forgiveness: Once you’ve gone five years without filing a claim, Farmers won’t raise your rate after that if you end up filing one.
Even more, depending on your state of residence, you can save up to 45% on your auto insurance and up to 34% on your home insurance when you bundle policies, according to Farmers.
How do Farmers home insurance rates compare to the Denver average?
The average cost of Farmers home insurance in Denver is $4,460 per year, which is around 48% more expensive than the annual Denver average of $3,021.
How to get a quote
Online through Policygenius or Farmers, or by contacting a local Farmers agent.
2024 Policygenius award winner
American Family
4.6
Offers extended replacement cost
Offers flood insurance
Bundle home & auto
Why we chose it
American Family home insurance has industry-best coverage options, high customer service ratings, and several discounts to compliment its already affordable rates, making it a great option in the 19 states where it’s available.
Pros and cons
Pros
Lower than average rates
High customer satisfaction and digital shopping satisfaction scores with J.D. Power
Several one-of-its-kind coverage endorsements and policy perks
Cons
Requires you to work with an agent to purchase a policy
More details
Why we chose American Family
When it comes to home insurance coverage quality and affordability, there are few companies in Denver in the same league as American Family.
Choose from three comprehensive policy tiers with various levels of protection offered through American Family, or customize a policy to suit your specific coverage needs. With up to 15 additional coverage options — including inland flood, equipment breakdown, and service line coverage — there is no shortage of ways to personalize your home insurance with American Family.
And the best part? American Family won't nickel and dime you for all of that coverage. Its rates are among the most affordable in Denver, and it gives you even more ways to save with up to 11 available discounts.
How do American Family home insurance rates compare to the Denver average?
The average annual cost of American Family home insurance in Denver is $2,717 per year, which is about about 10% cheaper than the Denver average of $3,021 per year.
How to get a quote
Online with American Family or by contacting a local agent
2024 Policygenius award winner
Nationwide
4.6
Bundle home & auto
Mobile app
New homebuyer discount
Offers extended replacement cost
Why we chose it
Nationwide offers an impressive selection of home insurance coverages for both standard and high-net worth Colorado homes, offering extended and guaranteed home replacement coverages and broad "all-risks" coverage for your home and personal belongings.
Pros and cons
Pros
Up to 14 additional coverage options, such as guaranteed and extended replacement cost, all-risk protection, and better roof replacement coverage
Among the highest-ranked companies for claims satisfaction with J.D. Power
A+ credit rating with AM Best
Cons
Customer satisfaction and digital shopping experience ratings are below the segment average with J.D. Power
Average annual premium is higher than average
More details
Why we chose Nationwide
Nationwide is best known for its robust home and personal property coverage add-ons — something Denver homeowners should consider given the recent uptick in wildfires throughout the state.
Nationwide customers in Denver can choose from extended or guaranteed replacement cost coverages to increase their home's structural protection and ensure they have enough dwelling coverage to rebuild after a major wildfire. If your home is damaged or destroyed by a covered event, Nationwide's signature "better roof replacement" coverage will replace your roof with stronger materials than what you had before.
Keep in mind that both of these additional coverages don't come standard with Nationwide — you need to pay extra for them — and with Nationwide's already somewhat high premiums in Denver, the thought of paying for even more coverage may give some homeowners pause. But if you're looking for the best in comprehensive wildfire protection and claims satisfaction, Nationwide seems like a no-brainer.
How do Nationwide home insurance rates compare to the Denver average?
The average cost of Nationwide home insurance in Denver is $4,393 per year, which is around 45% more expensive than the annual Denver average of $3,021.
How to get a quote
Online through Policygenius or Nationwide
2024 Policygenius award winner
Allstate
4.5
Bundle home & auto
Smart home discounts
Why we chose it
Whether you’re looking for basic or comprehensive home insurance coverage, Allstate is a standout option. Airbnb hosts may find a suitor in Allstate thanks HostAdvantage — its affordable short-term rental coverage that can be easily added to any policy.
Pros and cons
Pros
Offers HostAdvantage — an excellent short-term rental coverage add-on that can be seamlessly added to any policy
Extensive list of discounts and policy features to lower your bill and out-of-pocket costs
A+ credit rating with A.M. Best
Cons
Beginning to pull back coverage in high-risk areas
Customer experience scores with J.D. Power are below the segment average
More details
Why we chose Allstate
If you rent out your property through a short-term rental service like Airbnb and a guest destroys or steals your property, Allstate’s HostAdvantage will pay up to $10,000 per rental host period to replace or repair your property.
And the best part? This coverage can be seamlessly added onto your policy for just a small additional fee. Only around a third of the nearly 70 home insurance companies we reviewed offer any type of home-sharing coverage, making Allstate a great option for Airbnb hosts who also need home insurance of their own.
How do Allstate home insurance rates compare to the Denver average?
The average annual cost of an Allstate home insurance policy in Denver is $2,502, or around 17% cheaper than the Denver average of $3,021 per year.
How to get a quote
Online through Policygenius or Allstate, or by contacting a local Allstate agent.
How much is homeowners insurance in Denver?
The average cost of homeowners insurance in Denver is $3,021 per year, or $252 per month, according to our analysis of quoted premiums in every ZIP code in the city.
This makes home insurance in Denver around 30% more expensive than the Colorado state average of $2,322 per year, and 72% more expensive than the national annual average of $1,754.
Denver home insurance rates by ZIP code
Home insurance rates can vary greatly depending on where in Denver you live, as homes in certain areas may have a higher risk of home-threatening wildfires or property theft compared to others.
To help you find out how much home insurance costs where you live, we calculated average home insurance rates for the 10 most populated ZIP codes in Denver.
ZIP code | Average annual cost | Difference from state average (%) |
|---|---|---|
80219 | $3,051 | 31% |
80239 | $3,217 | 39% |
80210 | $3,044 | 31% |
80220 | $2,979 | 28% |
80249 | $3,179 | 37% |
80211 | $3,100 | 34% |
80231 | $3,045 | 31% |
80204 | $2,913 | 25% |
80205 | $2,957 | 27% |
80247 | $2,938 | 27% |
Cheapest ZIP codes for home insurance in Denver
With an average annual premium of $2,896, the 80225 ZIP code (Lakewood) has the cheapest average home insurance rates in the Denver metropolitan area.
ZIP code | Average annual cost | Difference from state average (%) |
|---|---|---|
80225 | $2,896 | 25% |
80235 | $2,910 | 25% |
80204 | $2,913 | 25% |
80247 | $2,938 | 27% |
80290 | $2,954 | 27% |
80265 | $2,956 | 27% |
80205 | $2,957 | 27% |
80123 | $2,958 | 27% |
80293 | $2,959 | 27% |
80294 | $2,959 | 27% |
Most expensive areas for homeowners insurance in Denver
With an average annual premium of $3,217 per year, the 80239 ZIP code (Commerce City) has the most expensive home insurance rates in Denver.
ZIP code | Average annual cost | Difference from state average (%) |
|---|---|---|
80239 | $3,217 | 39% |
80249 | $3,179 | 37% |
80230 | $3,118 | 34% |
80208 | $3,118 | 34% |
80216 | $3,107 | 34% |
80211 | $3,100 | 34% |
80224 | $3,094 | 33% |
80218 | $3,092 | 33% |
80266 | $3,081 | 33% |
80237 | $3,065 | 32% |
Learn more >> Home insurance rates by ZIP code
Denver home insurance costs by coverage amount
Dwelling coverage is the part of homeowners insurance that pays to rebuild your home if it's damaged or destroyed by a covered peril, like a fire or tornado. Your policy's dwelling coverage limit should equal to the replacement cost of your home, which is the amount it would cost to rebuild it from the ground up.
Home insurance premiums are largely based on how much dwelling coverage you need for your home, with larger houses requiring more of this coverage, and vice versa. Here is the average cost of home insurance in Denver for five different levels of coverage.
Dwelling coverage limit | Average annual cost |
|---|---|
$100,000 | $1,372 |
$200,000 | $2,229 |
$300,000 | $3,021 |
$400,000 | $3,600 |
$500,000 | $4,289 |
Denver home insurance costs by deductible amount
A home insurance deductible is the amount you’re responsible for paying on each claim before insurance helps cover the rest of the damage or loss. If you choose a higher policy deductible, you'll have to cover more of each claim that you file, but you may also pay significantly less in premiums.
Here is the average annual cost of home insurance in Denver for a policy with $300,000 in dwelling coverage and three different deductible amounts.
Deductible | Average annual cost |
|---|---|
$500 | $4,330 |
$1,000 | $2,810 |
$2,000 | $2,514 |
Cheapest homeowners insurance companies in Denver
Based on our analysis, State Auto, Auto-Owners Insurance, Chubb, Allstate, and USAA are the five cheapest home insurance companies in Denver, with average premiums ranging from $336 to $2,505 per year — well below the overall average cost of home insurance in Denver.
American Family, Colorado Farm Bureau, and Shelter Insurance are also among the most affordable home insurance options for Denver homeowners in 2023, as detailed below.
Company | Average annual cost |
|---|---|
$336 | |
$1,330 | |
$2,244 | |
$2,502 | |
$2,505 | |
$2,717 | |
$2,857 | |
$2,956 | |
$3,000 | |
California Casualty | $3,351 |
$3,663 | |
$4,393 | |
$4,460 | |
$4,985 | |
$5,060 |
Cheapest home insurance in Denver if you have poor credit
Having poor credit not only makes it more difficult to finance a new home or car, but it can also make insurance for that home or car significantly more expensive. In some cases, you may be turned down by insurance companies if your credit score is too low.
With an average annual premium of $1,023, State Auto has the cheapest home insurance rates in Denver for a homeowner with poor credit, while Auto-Owners' average of $15,281 per year is the most expensive.
Company | Average annual cost |
|---|---|
State Auto | $1,023 |
Allstate | $3,022 |
Farm Bureau Insurance | $3,354 |
USAA | $3,413 |
Shelter Insurance | $3,574 |
Chubb | $3,759 |
American Family | $4,481 |
California Casualty | $5,149 |
State Farm | $5,159 |
Nationwide | $5,311 |
Foremost | $5,537 |
Acuity | $6,521 |
Country Financial | $7,022 |
Farmers | $7,070 |
Auto-Owners Insurance | $15,281 |
Cheapest home insurance in Denver if you have an older home
Some home insurance providers may charge higher rates than others to insure older homes, as they consider these properties to be at higher risk for weather damage and internal plumbing or electrical issues.
Looking at average quotes for a 50-year-old home, State Auto is the cheapest home insurance option for Denver homeowners with an older home, while Country Financial is the priciest.
Company | Average annual cost |
|---|---|
State Auto | $598 |
Auto-Owners Insurance | $1,327 |
USAA | $1,959 |
Chubb | $2,244 |
Allstate | $2,490 |
Farm Bureau Insurance | $2,938 |
State Farm | $3,000 |
Shelter Insurance | $3,074 |
American Family | $3,137 |
Foremost | $3,318 |
California Casualty | $3,372 |
Farmers | $3,766 |
Nationwide | $3,920 |
Acuity | $4,862 |
Country Financial | $5,268 |
Cheapest homeowners insurance in Denver if you have a history of claims
A policyholder's claims history is one of the main factors insurers consider when determining home insurance premiums on a specific property.
Typically, if you file one or multiple claims within a five year span, insurers may consider you to be prone to future claims and could charge you higher rates as a result.
According to our analysis of company premiums for a Denver homeowner with three claims within a five-year period, State Auto has the cheapest home insurance, while Foremost is the most expensive.
Company | Average annual cost |
|---|---|
State Auto | $1,265 |
Auto-Owners Insurance | $1,441 |
Farm Bureau Insurance | $2,857 |
USAA | $2,863 |
State Farm | $3,000 |
Allstate | $3,787 |
Farmers | $4,044 |
Chubb | $4,257 |
Shelter Insurance | $4,599 |
American Family | $5,149 |
California Casualty | $5,808 |
Nationwide | $6,777 |
Country Financial | $7,876 |
Acuity | $9,354 |
Foremost | $9,866 |
How to get homeowners insurance quotes in Denver
Now that you're familiar with the best and most affordable insurance options available in Denver, it's time to start shopping for homeowners insurance. Here are some things you should keep in mind as you compare home insurance quotes in Denver, CO.
Frequently asked questions
What is the average home insurance cost in Denver?
The average home insurance rate in Denver is $252 a month. This is both higher than the state and national average, as Denver residents pay about 30% and 72% more for insurance coverage, respectively.
Do I need additional home insurance if I have a pool?
Homeowners should have enough liability coverage to protect their total assets if someone is injured on their property and decides to sue for damages. Insurance companies consider swimming pools to be a liability risk and will often charge customers higher home insurance rates.
Is it mandatory to have homeowners insurance in Colorado?
Home insurance isn’t mandatory in Colorado unless you have a mortgage on your property, but it’s certainly a good idea considering the area is known for wildfire and floods. Since there’s an increased chance of homeowners filing a claim, insurance companies charge higher rates for this added risk.
