How much is Homeowner’s Insurance in Colorado?

There are dozens and dozens of different kinds of insurance plans out there. Every year, insurance companies are creating new products and services to protect just about everything you could possibly own.

Sure, you could buy an insurance policy to protect your dog, or you could buy a quality insurance plan to protect your biggest investment, which is your home. Your house is where everything you own is. It’s where your family sleeps. Couple lying on grass looking at cloud of home
Mother nature can throw some crazy things your way, and some of her curve balls can damage your home. What would you do if your house was flooded or a tree fell on your house? Do you have the money saved up to replace all of your things and fix your house? Probably not.

Luckily, you don’t have to have a fortune saved up just in case. That’s why a homeowner’s insurance policy is so important.

How Much Does Homeowner’s Insurance Cost?

Think of homeowner’s insurance coverage as a safety net for your home. Hopefully, you’ll never need to use the policy, but it’s there if you need it.

For most people, they were required to buy a homeowner’s insurance policy as a part of the mortgage process. Just about every mortgage company requires the homeowner to get a plan to complete the loan. The company wants to protect their investment as much as possible.

Most areas of Colorado are not high-risk areas for any natural disasters (although you never know what’s going to happen), but there are two specific cities which have higher insurance rates, Sterling and Pueblo. Sterling suffered from the largest tornado in Colorado history in 2000 and Pueblo has higher than average property crime rate.

Both of these are causes for higher homeowner’s insurance rates. If you’re a resident in or around these cities, then you’re going to pay more, but if not, then the rates are going to be much more affordable.

There are a lot of different factors to the insurance company is going to look at when deciding how much they are going to charge you every month for your coverage. The will look at the size of your home, the value of your home, the age, the location, and much more. It’s almost impossible for us to get you an exact idea of how much you’ll pay without knowing your specific situation, but we can give you a rough idea.

Let’s look at some of the averages for cities in Colorado. We are located in Denver, so we are going to look at those houses first. The average homeowner’s insurance in Denver costs a little over $1,400 annual premiums based on the numbers from ValuePenguin.com.

Compared to the average national, it’s a good bit more expensive. The national average for homeowner’s insurance in 2018 is $1,083. But Denver is not the cheapest place to live in Colorado.

The cheapest average homeowner’s insurance plans belong to people living in Grand Junction. If you live in Grand Junction, you can enjoy annual rates as low as $815 every year. This is drastically lower than the national average.

Cheaper Rates

Regardless of which city you live in, there are a couple of ways you can lower your homeowner’s insurance rates. As we mentioned, the insurance company is going to look at dozens of different factors and qualities when they are determining how much to charge you.

If you want to save money, there are a couple of things you can do to your home. One thing is to buy a security alarm or other safety features. The safer your home is, either through smoke detectors or hurricane shutters, the insurance company will view your home as less risky.

If you’re looking for a quick and easy way to lower your premiums, it’s time to raise your deductible. The deductible is the amount you’ll have to pay out of pocket before your insurance coverage kicks in. If your deductible is $500, consider raising it to $1,000. This simple change could trim your premiums by hundreds of dollars every year. As long as you don’t have to make a claim in the first couple of years, it will save you money.

If you’ve had the same homeowner’s insurance plan for several years, it’s time to do some shopping around. That policy may have been the cheapest option when you originally bought it, but there could be some more affordable plans out there.

This is where we come in. Our agents at Longevity Brokers aren’t a normal homeowner’s insurance agent who only works with one company.

We are independent agents, which means we aren’t tied to one company. Instead, we have the ability to present you with a dozen different options from various companies. The best way to get cheaper homeowner’s insurance is to find a company who has cheap coverage.

Instead of digging through all of the options and wading through all of the confusing terms and jargon, let one of our experts do the dirty work for you.

At Longevity Brokers, we specialize in protecting every area of your life. Not only can we help you find an affordable homeowner’s policy, but we can also help protect your car, and much more.
If you have any questions about homeowner’s insurance or any of the other plans we offer, please don’t wait to give us a call. Our agents are standing by and would love to talk to you about any of your insurance needs. You can call us at (720)209-4598 or use our contact page.

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