The Colorado Division of Insurance has created this Homeowners Insurance Interactive Premium Comparison Report to provide consumers an opportunity to compare homeowner insurance premiums being offered in Colorado. The data reported was drawn from a survey of premiums and is current as of July 2023.
These premiums are for a coverage period of one year and are based on full replacement cost coverage* for the following policy types and coverage limits:
Homeowners Insurance Policy (HO-3 policy) - The HO-3 policy is designed to cover all aspects of the home, structure and its contents, subject to policy exclusions. Covered aspects as well as limits of liability must be clearly spelled out in the policy to insure proper coverage. This coverage is the most commonly written policy for a homeowner.
HO-3 Policy Limits:Dwelling Replacement Cost: $500,000Contents Replacement Cost: $350,000Personal Liability: $100,000Medical Expense: $1,000Deductible: $1000
Renters Insurance Policy (HO-4 policy) - Commonly referred to as "renters insurance" or "renters coverage", an HO-4 policy covers the insured's personal property but does not cover the property belonging to the owner of the rental unit (i.e. the house or apartment).
HO-4 Policy Limits:Contents Replacement Cost: $40,000Personal Liability: $100,000Medical Expense: $1,000Deductible: $500
Condominium Owners Insurance Policy (HO-6 policy) -Also known as "condominium coverage", an HO-6 policy is designed especially for the owners of condominiums. In most cases, it includes coverage for the part of the building owned by the insured and for the property housed therein of the insured. This policy was designed to span the gap between what the homeowners association might cover in a blanket policy written for an entire condominium complex and what the insured is responsible for protecting. The HO-6 policy generally covers everything from the walls in, including cabinets, appliances, light fixtures, etc.
HO-6 Policy Limits:Contents Replacement Cost: $80,000Personal Liability: $100,000Medical Expense: $1,000Deductible: $500
*With replacement cost coverage, no reduction is made for depreciation and losses are settled for the full cost of repair or replacement, subject to policy limits and the applicable deductible.
The premiums reported were based on the following structure types and assume that each structure is 2000 square feet, 10 years old, with a composite shingle roof, equipped with dead-bolt locks and smoke/fire detectors, within 5 miles of a fire station, and within 1,000 feet of a fire hydrant.
Frame Structure: A dwelling with exterior walls of combustible construction, including walls with metal, stucco or metal lath and plaster on combustible supports.
Masonry Structure: A dwelling with exterior walls of brick, concrete, concrete block, adobe, tile or other non-combustible supports.
To use this report effectively you need to choose the policy and structure type your dwelling is most similar to. Then select the city closest to where you live.
Please keep in mind that rating structures used to generate premiums can vary significantly. Since the rates provided within the survey were quoted using general homeowner policy types and limits they will, in most cases, vary from the premiums actually provided to you. Please contact your insurance agent or the individual insurer to find out your actual cost.
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