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.