Best homeowners insurance in Denver, CO for 2022

We looked at average costs, coverage availability, and customer satisfaction ratings to find the best homeowners insurance companies in Denver.

Gianetta Palmer

By

Gianetta Palmer

Gianetta Palmer

Freelance contributor

Gianetta Palmer is a freelance writer who lives in the Georgia mountains. Her writing on health and car insurance, has appeared on numerous sites.

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Expert reviewed

This article has been reviewed by a licensed Policygenius expert to ensure that sources, statistics, and claims meet our standard for accurate and unbiased advice.

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By

Britta M. Moss

Britta M. Moss

Property & casualty claim consultant and expert witness

Britta M. Moss, CPCU, SCLA, AIC-M, has over 25 years of insurance industry experience. In her work as a property and casualty claim consultant, she provides consultation and expert witness services in claim handling standards, practices, and norms.  She has been retained by law firms representing plaintiffs and those representing insurer defendants involved in disputes or litigation regarding coverage analysis, investigation, liability determination, damage evaluation, negotiation and settlement.  She is a graduate of The Ohio State University. 

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The uptick in wildfire events in the Denver area have made home insurance more important than ever in the Mile High City. 

The average cost of homeowners insurance in Denver is $3,104 per year or $259 a month. This is around 20% higher than the statewide average of $2,486 per year, and about 38% higher than the national annual average of $1,899. 

Compare home insurance rates in Denver

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However, the cost isn’t the only factor to consider when choosing a home insurance company. Not sure what to look for? Policygenius can help you figure out your coverage needs and compare quotes from multiple top companies in Denver.  

Best homeowners insurance companies in Denver

Of the companies we evaluated, Allstate has the lowest rate, with an average annual policy cost of $2,502 per year — about $500 less than the state average. USAA comes in at a close second with rates of $2,505 per year.

Policygenius analyzed thousands of quotes from the 5 largest Denver insurers to find the average cost of homeowners insurance with each company in 2022. We then looked at 2021 J.D. Power customer satisfaction scores and compared that with the coverage needs of Denver residents to find the best homeowners insurance in Denver.

Company

Average yearly cost

J.D. Power Rating

State Farm

$3,000

835

USAA

$2,505

882

Allstate

$2,502

829

American Family

$2,717

831

Farmers

$4,460

813

State Farm

State Farm logo

There's a reason State Farm is one of the top-rated insurance companies in the U.S. — its customer satisfaction ratings are through the roof, it offers a slew of coverage add-ons for full protection, and makes filing claims through its mobile app a breeze.

Pros

  • Top-tier coverage add-ons, including equipment breakdown, water backup, and service line coverage

  • Get up to $1 million in personal liability coverage

  • Score discounts for bundling, installing security devices, and choosing a high deductible

  • File and track claims online, over the phone, in person, or through its mobile app

  • High customer satisfaction and financial strength ratings

Cons

  • No discounts for first-time homebuyers or going a year without a claim

Why State Farm tops our best list

Like a good neighbor, State Farm is there and that’s probably why State Farm scored so well in customer service and financial ratings in the J.D. Power’s 2021 home insurance study. Get up to a $1 million personal liability insurance policy to help protect your assets and enjoy significant discounts by bundling all of your policies under one roof.

How to get a quote

Online through State Farm

USAA

USAA logo

USAA's robust coverages and high marks for customer service and claims satisfaction make it a solid home insurance option for military members and their families.

Pros

  • Score discounts for zero claims, being a loyal USAA member, opting into e-billing, and more

  • Base policy includes coverages that cost extra with most other companies

  • Offers earthquake coverage — which is hard to come by

  • Get discounted home security systems and a discount on premiums through its partnership with ADT

  • Industry-best customer service and claims satisfaction ratings

Cons

  • Only available to military families

  • Doesn’t offer extended or guaranteed replacement cost dwelling coverage

Why USAA tops our best list

Not everyone can get insurance through USAA —you must be in the military or be related to someone who’s in the armed forces. But those who are lucky enough to be members can score discounts for everything from not filing claims to opting for e-billing. In addition to great savings opportunities, USAA also provides industry-best coverage. Its base policy includes coverages that typically cost extra with other companies.  

How to get a quote

Online through USAA

Allstate

Allstate logo

Allstate's mix of exceptional customer satisfaction ratings, personalized coverage options, and numerous discount opportunities make it one of the most popular homeowners insurance companies on the market.

Pros

  • Several coverage add-ons, including ones for roof surfaces, water backup, green improvements, and mold protection

  • 8+ discounts, including autopay, bundling, zero claims, and new homebuyer

  • Get up to 25% off your premiums when you bundle home and auto insurance

  • File and track claims online or through its mobile app

Cons

  • Lower-than-average claim satisfaction and digital experience ratings from J.D. Power

Why Allstate tops our best list

One of the reasons we love Allstate is that they offer a plethora of discounts, including autopay, bundling, and zero claims to reduce insurance costs for their customers. Allstate’s mix of coverage options and excellent customer service ratings make it one of the most popular destinations for homeowners looking for insurance. 

How to get a quote

Online through Policygenius and Allstate

American Family

American Family logo

American Family's status as the 7th largest home insurance provider in the U.S. speaks to its popularity and reputation. Our fave perk? Its diminishing deductible program that lets you earn credits for every year you go without filing a claim.

Pros

  • Unique coverage add-ons, like matching siding insurance and hidden water damage coverage

  • Save up to 20% on home insurance and 29% on auto insurance for bundling the policies together

  • Earn a $100 credit toward your deductible for ever year you go without filing a claim

  • File claims online or on its mobile app — with 24/7 claims support

Cons

  • Doesn't offer extended or guaranteed replacement cost coverage

  • Above-average customer complaints according to the NAIC

Why American Family tops our best list

American Family scored an impressive 839 out of 1,000 for customer service in the 2021 J.D. Power home insurance study, and it's not hard to see why. With American Family, you can earn $100 toward your deductible for every year you go without filing a claim.  

How to get a quote

Online through American Family

Farmers

Farmers logo

Farmers is one of the largest and most reputable home insurance providers in the industry, offering special discounts for teachers, nurses, first responders, and non-smokers — plus the option to rebuild your home with green materials after a claim.

Pros

  • Several discounts and unique ways to save, including claim forgiveness and declining deductibles

  • 3 flexible coverage packages with varying levels of protection for most coverage and budget needs

  • Offers extended and guaranteed replacement cost coverage options

  • File claims online, via text, on its mobile app, or by calling its claims center

Cons

  • Rates are typically more expensive

  • Below-average customer satisfaction ratings

  • No repair network to help you find a certified contractor or repair professional after filing a claim

Why Farmers tops our best list

Farmers offer three flexible coverage packages suitable for most budgets and coverage needs, including an add-on that gives you the option to use green materials to rebuild your home after a loss.  

How to get a quote

Online through Farmers

Compare home insurance rates in Denver

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Cheapest homeowners insurance companies by ZIP code in Denver

Looking at average home insurance costs for 15 of the most popular companies in Denver, we found that the cheapest home insurance in the city can be found in the 80222 ZIP code (Goldsmith) with State Auto. The average State Auto rate in this area is $302 per year — significantly less than the city average of $3,104 per year. 

Homeowners in most areas of Denver are likely to have the cheapest rates with State Auto with rates ranging from $302 to $357 per year. 

ZIP code

Company

Average yearly cost

80123

State Auto

$303

80202

State Auto

$345

80203

State Auto

$357

80204

State Auto

$337

80205

State Auto

$343

80206

State Auto

$325

80207

State Auto

$349

80208

State Auto

$356

80209

State Auto

$331

80210

State Auto

$312

80211

State Auto

$325

80212

State Auto

$317

80216

State Auto

$335

80218

State Auto

$351

80219

State Auto

$327

80220

State Auto

$354

80222

State Auto

$302

80223

State Auto

$335

80224

State Auto

$349

80225

State Auto

$316

80230

State Auto

$350

80231

State Auto

$326

80235

State Auto

$307

80236

State Auto

$321

80237

State Auto

$319

80238

State Auto

$336

80239

State Auto

$338

80246

State Auto

$356

80247

State Auto

$351

80249

State Auto

$309

80262

State Auto

$354

80264

State Auto

$357

80265

State Auto

$345

80266

State Auto

$335

80290

State Auto

$345

80293

State Auto

$345

80294

State Auto

$345

80295

State Auto

$345

80299

State Auto

$345

The most affordable areas for homeowners insurance in Denver

With an average home insurance rate of $2,896 per year, the 80225 ZIP code (Lakewood), is the most affordable area for home insurance in Denver. Median home values of $510,000 also make the Lakewood neighborhood one of the most affordable places to live in the city.   

ZIP code

Average yearly cost

80225

$2,896

80235

$2,910

80123

$2,958

80236

$2,973

80212

$3,036

The most expensive areas for homeowners insurance in Denver

With an average home insurance rate of $3,247, the 80218 ZIP code (Cheesman Park) is the most expensive area for home insurance in Denver. Although these ZIP codes are the most expensive in Denver, the rates are comparable to other neighborhoods in the city.

ZIP code

Average yearly cost

80218

$3,247

80239

$3,217

80206

$3,187

80207

$3,180

80249

$3,179

Values logo

Policygenius featured on The Denver Post

"'Colorado rate increases are more than double that of inflation. It is a huge, massive jump,' said Pat Howard, a licensed property and casualty insurance expert at Policygenius in New York City. [...] What should consumers do if they are hit with high premium increases? Howard said it is a good practice to see what competitors are offering at least once a year, even when rates are stable."

You can read the full feature on The Denver Post here.

Shopping for homeowners insurance in Denver

Denver residents shopping for home insurance should ensure they have enough home insurance to protect their homes and lifestyles in the event disaster strikes. You’ll want to find the best coverage at a price that works within your budget.

In this section, we break down the average annual home insurance rates in Denver for different coverage and deductible levels, as well as the cheapest and most expensive home insurance companies for dog and pool owners.

Denver home insurance costs by coverage amounts

Dwelling coverage is that section of your home insurance policy that pays to rebuild your home from the ground up after a covered loss. 

Denver homes with a dwelling coverage limit of $500,000 pay an average of $4,546 each year for home insurance.

Dwelling coverage amount

Average yearly cost

$100,000

$1,484

$200,000

$2,231

$300,000

$3,104

$400,000

$3,830

$500,000

$4,546

Personal liability coverage is the section of your insurance policy that pays the medical or legal bills if someone is injured on your property and you’re found legally responsible. 

As the table below reflects, additional liability coverage doesn’t necessarily mean higher average home insurance rates in Denver. While adding more liability coverage to your individual policy will likely make your rates go up, the increase is often minimal.

Liability coverage amount

Average yearly cost

$100,000

$3,113

$200,000

$3,065

$300,000

$3,104

$400,000

$2,567

$500,000

$3,182

Denver home insurance costs by deductible amount

A higher deductible amount means lower insurance premiums, but it also means you’ll have to pay more out of pocket on each claim after a covered loss.

As noted in the table below, Denver residents can save around $300 on home insurance by choosing a $2,000 deductible over the $500 option.

Deductible amount

Average yearly cost

$500

$3,345

$1,000

$3,104

$2,000

$3,014

Home insurance discounts in Denver

While you won’t get a huge discount if your house has some of the following features like smoke alarms and security systems, the extra peace of mind knowing your home is protected is well worth the installation costs. 

Here is the average annual rate and average discount percentage for homes in Denver with deadbolt locks, smoke alarms, or security systems.

Discount

Average yearly cost

Dead bolt

$3,103

Smoke alarm

$3,100

Burglar alarm

$3,036

Home insurance companies in Denver for dog owners

Your dog is an important part of the family, but if your dog is considered a dangerous breed, you might be paying more for your home insurance. Some insurance companies charge higher rates for certain breeds and some may even deny you coverage altogether if you have one of these breeds.

With an average rate of $2,502 per year, Allstate has the cheapest home insurance rates in Denver for a home with a dangerous dog breed, while Farmers’ average yearly premium is almost $4,460, making it the highest rate of those companies in our analysis.

Company

Average yearly cost

Allstate

$2,502

USAA

$2,505

American Family

$2,727

State Farm

$3,000

Farmers

$4,460

Home insurance companies in Denver for poor credit

A low credit score is often an indicator to insurance companies that you may file an insurance claim more than someone with a better score. As such, a bad credit score could lead to higher interest rates on your credit cards and higher home and auto insurance rates. 

With an average rate of $3,022 per year, Allstate has the cheapest home insurance rates in Denver for a homeowner with poor credit, while Farmers’ average yearly premium of $7,070 is the highest. 

Company

Average yearly cost

Allstate

$3,022

USAA

$3,413

American Family

$4,481

State Farm

$5,159

Farmers

$7,070

Home insurance companies in Denver for pool owners

Owning a swimming pool is a luxury many wish they could afford, but owning a pool is also lots of work. Additionally, some insurance companies consider swimming pools a liability risk and will often charge homeowners higher insurance rates.

With an average rate of $2,502 per year, Allstate has the cheapest home insurance rates for Denver homes that have a swimming pool, while Farmers has the highest rates at $4,460 per year.

Company

Average yearly cost

Allstate

$2,502

USAA

$2,505

American Family

$2,724

State Farm

$3,000

Farmers

$4,460

How to buy homeowners insurance in Denver

Weather can be unpredictable in the Mile High City, so to ensure your house is fully protected, you’ll want to make sure you have enough home insurance. Check out the list below and find out how easy it is to find great protection that fits within your budget.

  1. Reach out to a licensed Policygenius agent. Our team of experts can help you get quotes from top companies at no cost or obligation to you. We can help you ascertain your coverage needs and what makes sense for your situation.

  2. Ask if you should purchase additional flood, tornado, or wildfire coverage. If you live in a wooded area or one that has seen flooding in the last several years, you might want to add additional dwelling coverage or flood insurance to protect your home against wildfires and excessive rains.

  3. Figure out how much you can pay for your deductible. A higher deductible means you’ll pay less up front for insurance, but you’ll pay more out of pocket on a covered claim. A Policygenius agent can help you pick out a deductible that works the best for you.

  4. Compare quotes from a Policygenius agent. Once you’ve decided which policy options work best for you, a Policygenius agent will send over quotes from top companies for your review.

  5. Sign it, and pay your first bill.Policygenius will do all of the paperwork for you, so all you need to do is sign on the dotted line and pay your first premium. We’ll even cancel your old policy if it hasn't expired yet.

Compare home insurance rates in Denver

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Frequently asked questions

What is the average home insurance cost in Denver?

The average home insurance rate in Denver is $259 a month. Although higher than the national average, Denver homeowners enjoy rates comparable with other states in the region.

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.

Methodology

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.

Author

Freelance contributor

Gianetta Palmer

Freelance contributor

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Gianetta Palmer is a freelance writer who lives in the Georgia mountains. Her writing on health and car insurance, has appeared on numerous sites.

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