No, homeowners insurance is not required by law in Colorado. However, in order to get a home loan, your mortgage lender will likely require you to obtain a certain amount of insurance coverage.

Every policy is different, but home insurance policies in Colorado typically come with several standard coverages. Dwelling (Coverage A). This coverage helps you pay for damage to your home from a covered event, such as a fire, windstorm, lightning or hail. Other structures (Coverage B). This coverage is intended to help cover structures that aren’t connected to your home, like a fence or shed. Personal property (Coverage C). This coverage helps you repair or replace your personal belongings if they are stolen or damaged. Loss of use, or additional living expense coverage (Coverage D). This coverage can help you pay to stay somewhere else if your home is uninhabitable due to covered damage. Personal liability (Coverage E). This coverage helps pay for accidental property damage or injuries you cause through negligence.

Fire Vandalism and theft Lightning strikes Wind Hail Explosions Falling objects The weight of snow or ice Flooding is not covered. However, special flood insurance through the National Flood Insurance Program (NFIP) may be available.

The average premium for home insurance coverage in Colorado is $1,667 per year1, according to a 2020 report (the most recent data available) by the National Association of Insurance Commissioners (NAIC). However, insurance costs in most states have changed since then. Also, the amount you pay may be different, depending on things like the value and age of your home, how much personal property you want to cover, what deductible you choose and risks specific to your area.

We offer a variety of savings opportunities for eligible home insurance customers in Colorado, including: Welcome Discount Home Buyer Discount Multi-Policy Discount Loyalty Discount Claim Free Discount See more information and additional discounts that may be available in Colorado.

Renters insurance in Colorado can cost as little as $13 a month (or $154 per year) for around $35,0001 in coverage, about the same as the national average, according to 2021 data (the most recent available) from the National Association of Insurance Commissioners (NAIC). Keep in mind that insurance premiums in most states have changed since then. Also, your cost may be different, depending on things like how much personal property you want to cover, what deductible you choose and risks specific to your location.

No state laws require you to have renters insurance in Colorado. However, landlords can require you to have a renters policy as part of a lease agreement. It may help pay for another person’s medical bills or repairs to their property if you’re found legally responsible for their injuries or property damage. Renters liability coverage may also help cover your legal expenses if you’re sued over an incident that occurs in the place you’re renting. Keep in mind that your landlord’s insurance provides coverage for the building itself, but this likely does not include your personal belongings.

Typically, renters insurance policies in Colorado can provide coverage against damage to or loss of personal belongings if caused by events such as: Fire Vandalism and theft Lightning strikes Wind Hail Explosions Falling objects The weight of snow or ice Floods and mudslides — common risks in Colorado — usually aren’t covered under a renters insurance policy.

Even though you’re just getting started, your personal possessions are probably worth more than you realize. Now imagine you have to run out and replace everything at today’s prices. That’s going to be a very expensive shopping trip — unless you have renters insurance to help cover the cost.

Your renters policy helps cover the contents of your apartment for a number of perils — including theft. If someone walks off with your laptop or sound system, your policy can help cover the cost to go out and buy a new one.

The amount of coverage you should consider getting depends on the combined value of all your personal possessions. Make a written inventory of what you brought into the place. Now think of what it would cost to replace everything with new merchandise at current prices.