Best homeowners insurance in Denver, CO (2024)

We looked at average costs, customer service ratings, and policy options from multiple top insurers to find the best and cheapest home insurance companies in Denver.

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By

Pat HowardManaging Editor & Licensed Home Insurance ExpertPat Howard is a licensed insurance expert and managing editor at Policygenius. Pat has written extensively about the home insurance industry and his insights as a subject matter expert have appeared in several top tier publications, including The New York Times, The Wall Street Journal, CNBC, and Reuters. Pat has a bachelor's degree in journalism from Michigan State University.

Edited by

Jennifer GimbelJennifer GimbelSenior Managing Editor & Home Insurance ExpertJennifer Gimbel is a senior managing editor at Policygenius, where she oversees all of our insurance coverage. Previously, she was the managing editor at Finder.com and a content strategist at Babble.com.
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Reviewed by

Britta M. MossBritta M. MossProperty & casualty claim consultant and expert witnessBritta 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. 

Updated|4 min read

Expert reviewedExpert reviewedThis article has been reviewed by a member of ourFinancial Review Council to ensure all sources, statistics, and claims meet the highest standard for accurate and unbiased advice.Learn more about oureditorial review process.

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The average cost of homeowners insurance in Denver is $3,021 per year for a policy with $300,000 in dwelling coverage, according to our latest insurance pricing analysis. With several insurance carriers no longer offering coverage in high-wildfire risk areas or pulling out of the state altogether, it's gotten both more expensive and difficult to find home insurance in Colorado.

Given the turbulent home insurance market in Colorado in 2023, we put in extra research to ensure our picks for the best home insurance companies in Denver were based on currently available options. This means carriers with even temporarily limited coverage were not considered for this guide.

Compare home insurance rates in Denver

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Compare the best cheap homeowners insurance companies in Denver

Based on our analysis of insurance carriers across Colorado, State Farm, Farmers, American Family, Nationwide, and Allstate are the best homeowners insurance companies in Denver.

To find the best cheap homeowners insurance in Denver, Policygenius reviewed over a dozen of the largest insurance companies in Colorado and chose the five with the highest overall Policygenius rating.

Our ratings are based on each company's financial strength and customer service ratings, the number and quality of available coverage, and average carrier premiums in each of Denver's 39 ZIP codes.

Company

Average monthly cost

Policygenius rating

State Farm

$250

4.8 out of 5

Farmers

$372

4.5 out of 5

American Family

$226

4.5 out of 5

Nationwide

$366

4.5 out of 5

Allstate

$209

4.4 out of 5

Methodology & why you can trust our rates

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.

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2024 Policygenius award winner

State Farm

State Farm logo

Policygenius rating 

Our proprietary rating methodology takes multiple factors into account, including customer satisfaction, cost, financial strength, and policy offerings. See the "methodology" section for more details.

Full orange starFull orange starFull orange starFull orange starHalf orange star

4.8

AM Best rating 

AM Best is a global credit rating agency that scores the financial strength of insurance companies on a scale from A++ (Superior) to D (Poor).

A++

Cost 

Using a mix of internal and external rate data, we grade the cost of each insurance company's premiums on a scale from least expensive ($) to most expensive ($$$$$).

$

$

$

$

$

Bundle home & auto

Offers extended replacement cost

All 50 states

Why we chose itchevron icon

State Farm is the best overall home insurance company in Denver due to its statewide availability, wide range of policy options for homes of all shapes and sizes, high marks for customer service, and its industry-best financial stability ratings.

Pros and conschevron icon

Pros

  • High customer satisfaction and financial strength ratings

  • Top-tier coverage add-ons, including extended replacement cost coverage

  • Offers large discounts when you bundle your home and auto insurance

Cons

  • 20% more complaints filed with the NAIC than other companies of its size

  • No discounts for first-time homebuyers

More detailschevron icon

Why we chose State Farm

As the largest home insurance provider in Colorado, State Farm is best known for its easy-to-reach and dependable customer service. And this goes for all steps of the the customer journey — from shopping and setting up your policy to making changes to your coverage to filing a claim.

What makes this possible is State Farm's extensive network of local agents who understand the weather risks and overall coverage needs of their community. This is an especially important consideration for Denver residents given Colorado's worsening wildfires and the increasingly difficult process of getting approved for home insurance.

Plus, while many competitors don't have the financial strength to pay out claims after several natural disasters in the same year, State Farm isn't one of them. It earns the highest rating possible from A.M. Best for financial strength and stability — only six insurance companies out of nearly 70 we reviewed hold this title.

How do State Farm home insurance rates compare to the Denver average?

The average cost of State Farm home insurance in Denver is $3,000 per year, which is about 1% cheaper than the average annual premium in Denver of $3,021.

How to get a quote

Online through State Farm or by contacting your local State Farm agent.

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2024 Policygenius award winner

Farmers

Farmers Insurance logo

Policygenius rating 

Our proprietary rating methodology takes multiple factors into account, including customer satisfaction, cost, financial strength, and policy offerings. See the "methodology" section for more details.

Full orange starFull orange starFull orange starFull orange starHalf orange star

4.6

AM Best rating 

AM Best is a global credit rating agency that scores the financial strength of insurance companies on a scale from A++ (Superior) to D (Poor).

A

Cost 

Using a mix of internal and external rate data, we grade the cost of each insurance company's premiums on a scale from least expensive ($) to most expensive ($$$$$).

$

$

$

$

$

Offers extended replacement cost

Bundle home & auto

Smart home discounts

Why we chose itchevron icon

In addition to helping you save around 20% by bundling your home and car insurance, Farmers also gives you access to its extensive suite of discounts, policy credits, and incentives for not filing claims that can put even money back in your pocket.

Pros and conschevron icon

Pros

  • Over a dozen available discounts to help lower your bill

  • Optional extended or guaranteed replacement cost coverage to better protect your home

  • Declining deductibles features takes $50 off your deductible each year you’re a Farmers customer

Cons

  • Ranks low with J.D. Power for overall customer satisfaction and digital customer service experience

  • Average annual premium is among the highest in Colorado

More detailschevron icon

Why we chose Farmers

Farmers home insurance stands out against competitors thanks to its 17 available discounts and policy perks. For context, Farmers competitors offer an average of around seven discounts total.

Along with several discount offerings and affordable rates, Farmers also offers the following two key policy perks:

  • Declining deductibles: Earn $50 toward your home deductible each year you have a home insurance policy with Farmers.

  • Claim forgiveness: Once you’ve gone five years without filing a claim, Farmers won’t raise your rate after that if you end up filing one.

Even more, depending on your state of residence, you can save up to 45% on your auto insurance and up to 34% on your home insurance when you bundle policies, according to Farmers.

How do Farmers home insurance rates compare to the Denver average?

The average cost of Farmers home insurance in Denver is $4,460 per year, which is around 48% more expensive than the annual Denver average of $3,021.

How to get a quote

Online through Policygenius or Farmers, or by contacting a local Farmers agent.

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2024 Policygenius award winner

American Family

American Family home insurance

Policygenius rating 

Our proprietary rating methodology takes multiple factors into account, including customer satisfaction, cost, financial strength, and policy offerings. See the "methodology" section for more details.

Full orange starFull orange starFull orange starFull orange starHalf orange star

4.6

AM Best rating 

AM Best is a global credit rating agency that scores the financial strength of insurance companies on a scale from A++ (Superior) to D (Poor).

A

Cost 

Using a mix of internal and external rate data, we grade the cost of each insurance company's premiums on a scale from least expensive ($) to most expensive ($$$$$).

$

$

$

$

$

Offers extended replacement cost

Offers flood insurance

Bundle home & auto

Why we chose itchevron icon

American Family home insurance has industry-best coverage options, high customer service ratings, and several discounts to compliment its already affordable rates, making it a great option in the 19 states where it’s available.

Pros and conschevron icon

Pros

  • Lower than average rates

  • High customer satisfaction and digital shopping satisfaction scores with J.D. Power

  • Several one-of-its-kind coverage endorsements and policy perks

Cons

  • Requires you to work with an agent to purchase a policy

More detailschevron icon

Why we chose American Family

When it comes to home insurance coverage quality and affordability, there are few companies in Denver in the same league as American Family.

Choose from three comprehensive policy tiers with various levels of protection offered through American Family, or customize a policy to suit your specific coverage needs. With up to 15 additional coverage options — including inland flood, equipment breakdown, and service line coverage — there is no shortage of ways to personalize your home insurance with American Family.

And the best part? American Family won't nickel and dime you for all of that coverage. Its rates are among the most affordable in Denver, and it gives you even more ways to save with up to 11 available discounts.

How do American Family home insurance rates compare to the Denver average?

The average annual cost of American Family home insurance in Denver is $2,717 per year, which is about about 10% cheaper than the Denver average of $3,021 per year. 

How to get a quote

Online with American Family or by contacting a local agent

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2024 Policygenius award winner

Nationwide

Nationwide logo

Policygenius rating 

Our proprietary rating methodology takes multiple factors into account, including customer satisfaction, cost, financial strength, and policy offerings. See the "methodology" section for more details.

Full orange starFull orange starFull orange starFull orange starHalf orange star

4.6

AM Best rating 

AM Best is a global credit rating agency that scores the financial strength of insurance companies on a scale from A++ (Superior) to D (Poor).

A+

Cost 

Using a mix of internal and external rate data, we grade the cost of each insurance company's premiums on a scale from least expensive ($) to most expensive ($$$$$).

$

$

$

$

$

Bundle home & auto

Mobile app

New homebuyer discount

Offers extended replacement cost

Why we chose itchevron icon

Nationwide offers an impressive selection of home insurance coverages for both standard and high-net worth Colorado homes, offering extended and guaranteed home replacement coverages and broad "all-risks" coverage for your home and personal belongings.

Pros and conschevron icon

Pros

  • Up to 14 additional coverage options, such as guaranteed and extended replacement cost, all-risk protection, and better roof replacement coverage

  • Among the highest-ranked companies for claims satisfaction with J.D. Power

  • A+ credit rating with AM Best

Cons

  • Customer satisfaction and digital shopping experience ratings are below the segment average with J.D. Power

  • Average annual premium is higher than average

More detailschevron icon

Why we chose Nationwide

Nationwide is best known for its robust home and personal property coverage add-ons — something Denver homeowners should consider given the recent uptick in wildfires throughout the state.

Nationwide customers in Denver can choose from extended or guaranteed replacement cost coverages to increase their home's structural protection and ensure they have enough dwelling coverage to rebuild after a major wildfire. If your home is damaged or destroyed by a covered event, Nationwide's signature "better roof replacement" coverage will replace your roof with stronger materials than what you had before.

Keep in mind that both of these additional coverages don't come standard with Nationwide — you need to pay extra for them — and with Nationwide's already somewhat high premiums in Denver, the thought of paying for even more coverage may give some homeowners pause. But if you're looking for the best in comprehensive wildfire protection and claims satisfaction, Nationwide seems like a no-brainer.

How do Nationwide home insurance rates compare to the Denver average?

The average cost of Nationwide home insurance in Denver is $4,393 per year, which is around 45% more expensive than the annual Denver average of $3,021.

How to get a quote

Online through Policygenius or Nationwide

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2024 Policygenius award winner

Allstate

Allstate logo

Policygenius rating 

Our proprietary rating methodology takes multiple factors into account, including customer satisfaction, cost, financial strength, and policy offerings. See the "methodology" section for more details.

Full orange starFull orange starFull orange starFull orange starHalf orange star

4.5

AM Best rating 

AM Best is a global credit rating agency that scores the financial strength of insurance companies on a scale from A++ (Superior) to D (Poor).

A+

Cost 

Using a mix of internal and external rate data, we grade the cost of each insurance company's premiums on a scale from least expensive ($) to most expensive ($$$$$).

$

$

$

$

$

Bundle home & auto

Smart home discounts

Why we chose itchevron icon

Whether you’re looking for basic or comprehensive home insurance coverage, Allstate is a standout option. Airbnb hosts may find a suitor in Allstate thanks HostAdvantage — its affordable short-term rental coverage that can be easily added to any policy.

Pros and conschevron icon

Pros

  • Offers HostAdvantage — an excellent short-term rental coverage add-on that can be seamlessly added to any policy

  • Extensive list of discounts and policy features to lower your bill and out-of-pocket costs

  • A+ credit rating with A.M. Best

Cons

  • Beginning to pull back coverage in high-risk areas

  • Customer experience scores with J.D. Power are below the segment average

More detailschevron icon

Why we chose Allstate

If you rent out your property through a short-term rental service like Airbnb and a guest destroys or steals your property, Allstate’s HostAdvantage will pay up to $10,000 per rental host period to replace or repair your property.

And the best part? This coverage can be seamlessly added onto your policy for just a small additional fee. Only around a third of the nearly 70 home insurance companies we reviewed offer any type of home-sharing coverage, making Allstate a great option for Airbnb hosts who also need home insurance of their own.

How do Allstate home insurance rates compare to the Denver average?

The average annual cost of an Allstate home insurance policy in Denver is $2,502, or around 17% cheaper than the Denver average of $3,021 per year.

How to get a quote

Online through Policygenius or Allstate, or by contacting a local Allstate agent.

Compare home insurance rates in Denver

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How much is homeowners insurance in Denver?

The average cost of homeowners insurance in Denver is $3,021 per year, or $252 per month, according to our analysis of quoted premiums in every ZIP code in the city.

This makes home insurance in Denver around 30% more expensive than the Colorado state average of $2,322 per year, and 72% more expensive than the national annual average of $1,754.

Denver home insurance rates by ZIP code

Home insurance rates can vary greatly depending on where in Denver you live, as homes in certain areas may have a higher risk of home-threatening wildfires or property theft compared to others.

To help you find out how much home insurance costs where you live, we calculated average home insurance rates for the 10 most populated ZIP codes in Denver.

ZIP code

Average annual cost

Difference from state average (%)

80219

$3,051

31%

80239

$3,217

39%

80210

$3,044

31%

80220

$2,979

28%

80249

$3,179

37%

80211

$3,100

34%

80231

$3,045

31%

80204

$2,913

25%

80205

$2,957

27%

80247

$2,938

27%

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Cheapest ZIP codes for home insurance in Denver

With an average annual premium of $2,896, the 80225 ZIP code (Lakewood) has the cheapest average home insurance rates in the Denver metropolitan area.

ZIP code

Average annual cost

Difference from state average (%)

80225

$2,896

25%

80235

$2,910

25%

80204

$2,913

25%

80247

$2,938

27%

80290

$2,954

27%

80265

$2,956

27%

80205

$2,957

27%

80123

$2,958

27%

80293

$2,959

27%

80294

$2,959

27%

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Most expensive areas for homeowners insurance in Denver

With an average annual premium of $3,217 per year, the 80239 ZIP code (Commerce City) has the most expensive home insurance rates in Denver.

ZIP code

Average annual cost

Difference from state average (%)

80239

$3,217

39%

80249

$3,179

37%

80230

$3,118

34%

80208

$3,118

34%

80216

$3,107

34%

80211

$3,100

34%

80224

$3,094

33%

80218

$3,092

33%

80266

$3,081

33%

80237

$3,065

32%

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Learn more >> Home insurance rates by ZIP code

Denver home insurance costs by coverage amount

Dwelling coverage is the part of homeowners insurance that pays to rebuild your home if it's damaged or destroyed by a covered peril, like a fire or tornado. Your policy's dwelling coverage limit should equal to the replacement cost of your home, which is the amount it would cost to rebuild it from the ground up.

Home insurance premiums are largely based on how much dwelling coverage you need for your home, with larger houses requiring more of this coverage, and vice versa. Here is the average cost of home insurance in Denver for five different levels of coverage.

Dwelling coverage limit

Average annual cost

$100,000

$1,372

$200,000

$2,229

$300,000

$3,021

$400,000

$3,600

$500,000

$4,289

Denver home insurance costs by deductible amount

home insurance deductible is the amount you’re responsible for paying on each claim before insurance helps cover the rest of the damage or loss. If you choose a higher policy deductible, you'll have to cover more of each claim that you file, but you may also pay significantly less in premiums.

Here is the average annual cost of home insurance in Denver for a policy with $300,000 in dwelling coverage and three different deductible amounts.

Deductible

Average annual cost

$500

$4,330

$1,000

$2,810

$2,000

$2,514

Cheapest homeowners insurance companies in Denver

Based on our analysis, State Auto, Auto-Owners Insurance, Chubb, Allstate, and USAA are the five cheapest home insurance companies in Denver, with average premiums ranging from $336 to $2,505 per year — well below the overall average cost of home insurance in Denver.

American Family, Colorado Farm Bureau, and Shelter Insurance are also among the most affordable home insurance options for Denver homeowners in 2023, as detailed below.

Company

Average annual cost

State Auto

$336

Auto-Owners Insurance

$1,330

Chubb

$2,244

Allstate

$2,502

USAA

$2,505

American Family

$2,717

Farm Bureau Insurance

$2,857

Shelter Insurance

$2,956

State Farm

$3,000

California Casualty

$3,351

Foremost

$3,663

Nationwide

$4,393

Farmers

$4,460

Country Financial

$4,985

Acuity

$5,060

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Cheapest home insurance in Denver if you have poor credit

Having poor credit not only makes it more difficult to finance a new home or car, but it can also make insurance for that home or car significantly more expensive. In some cases, you may be turned down by insurance companies if your credit score is too low.

With an average annual premium of $1,023, State Auto has the cheapest home insurance rates in Denver for a homeowner with poor credit, while Auto-Owners' average of $15,281 per year is the most expensive. 

Company

Average annual cost

State Auto

$1,023

Allstate

$3,022

Farm Bureau Insurance

$3,354

USAA

$3,413

Shelter Insurance

$3,574

Chubb

$3,759

American Family

$4,481

California Casualty

$5,149

State Farm

$5,159

Nationwide

$5,311

Foremost

$5,537

Acuity

$6,521

Country Financial

$7,022

Farmers

$7,070

Auto-Owners Insurance

$15,281

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Cheapest home insurance in Denver if you have an older home

Some home insurance providers may charge higher rates than others to insure older homes, as they consider these properties to be at higher risk for weather damage and internal plumbing or electrical issues.

Looking at average quotes for a 50-year-old home, State Auto is the cheapest home insurance option for Denver homeowners with an older home, while Country Financial is the priciest.

Company

Average annual cost

State Auto

$598

Auto-Owners Insurance

$1,327

USAA

$1,959

Chubb

$2,244

Allstate

$2,490

Farm Bureau Insurance

$2,938

State Farm

$3,000

Shelter Insurance

$3,074

American Family

$3,137

Foremost

$3,318

California Casualty

$3,372

Farmers

$3,766

Nationwide

$3,920

Acuity

$4,862

Country Financial

$5,268

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Cheapest homeowners insurance in Denver if you have a history of claims

A policyholder's claims history is one of the main factors insurers consider when determining home insurance premiums on a specific property.

Typically, if you file one or multiple claims within a five year span, insurers may consider you to be prone to future claims and could charge you higher rates as a result.

According to our analysis of company premiums for a Denver homeowner with three claims within a five-year period, State Auto has the cheapest home insurance, while Foremost is the most expensive.

Company

Average annual cost

State Auto

$1,265

Auto-Owners Insurance

$1,441

Farm Bureau Insurance

$2,857

USAA

$2,863

State Farm

$3,000

Allstate

$3,787

Farmers

$4,044

Chubb

$4,257

Shelter Insurance

$4,599

American Family

$5,149

California Casualty

$5,808

Nationwide

$6,777

Country Financial

$7,876

Acuity

$9,354

Foremost

$9,866

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How to get homeowners insurance quotes in Denver

Now that you're familiar with the best and most affordable insurance options available in Denver, it's time to start shopping for homeowners insurance. Here are some things you should keep in mind as you compare home insurance quotes in Denver, CO.

5 steps to buying homeowners insurance in Denver, CO

  1. Shop with an independent insurance marketplace like Policygenius. Our team of licensed insurance experts are at the ready to help you figure out how much coverage you need and what company offers it at the best price — all for free with no impact to your credit score.

  2. Ask about the Colorado FAIR Plan. With parts of Denver at high risk for wildfire damage, some residents may have difficulty finding coverage. If you're not able to find home or fire insurance, ask about the Colorado FAIR Plan, which is a type of last-resort insurance coverage for homeowners struggling to secure a policy.

  3. Compare quotes. Once you’ve identified your coverage needs, a Policygenius agent will send over quotes from top companies so you can review your options.

  4. Figure out how high of a deductible you can afford. A higher deductible means you’ll pay a lower home insurance premium, but it also means you'll have pay more out of pocket on each claim.

  5. Choose your policy, sign it, and pay your first premium. Once you choose a policy, all you need to do is sign on the dotted line and pay your first premium. We’ll cancel your old policy on your behalf 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 $252 a month. This is both higher than the state and national average, as Denver residents pay about 30% and 72% more for insurance coverage, respectively.

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.

Author

Pat Howard is a licensed insurance expert and managing editor at Policygenius. Pat has written extensively about the home insurance industry and his insights as a subject matter expert have appeared in several top tier publications, including The New York Times, The Wall Street Journal, CNBC, and Reuters. Pat has a bachelor's degree in journalism from Michigan State University.

Editor

Jennifer Gimbel is a senior managing editor at Policygenius, where she oversees all of our insurance coverage. Previously, she was the managing editor at Finder.com and a content strategist at Babble.com.

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