How much is homeowners insurance in Colorado Springs,CO

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In Colorado Springs, homeowners pay an average annual rate of $4,903 (for the coverage level of $300,000 for dwelling, $100,000 for liability protection, and $1,000 deductible), according to Insure.com’s rate analysis. It’s $2,321 more than the national average of $2,582.

Homeowners insurance rates change from one home to another. The home insurance premium in Colorado Springs depends on various factors, such as:

Size of your home
Age of your home
Amount of coverage you need
Location
Your credit score

To ensure you secure the best homeowners insurance policy, compare quotes from multiple insurers, enabling you to find the right coverage that aligns with your specific requirements.

Read this guide to learn how much homeowners insurance costs monthly in Colorado Springs, what home insurance costs for different dwelling coverage, and which companies offer cheap home insurance in Colorado Springs.

Key takeaways

The average cost of homeowners insurance in Colorado Springs is $4,903 per year.
State Farm is the cheapest homeowners insurance company in Colorado Springs with an average annual premium of $3,175.
If you increase your dwelling coverage from $200,000 to $300,000, you will just have to pay $1,244 more a year for home insurance.

How much is homeowners insurance in Colorado Springs per month

Residents of Colorado Springs pay an average of $409 a month for homeowners insurance, as per Insure.com’s rate analysis. It’s $68 more than the state average of $341 and $194 more than the national average for home insurance across the United States.

The cost of your homeowners insurance policy in Colorado Springs may change based on location, property value, and selected coverage options.

How much is homeowners insurance for a $200,000 house in Colorado Springs

In Colorado Springs, CO, homeowners pay an average of $3,659 annually for a $200,000 home. The annual cost of home insurance is influenced by factors such as the risk of natural disasters in your area.

Regions more susceptible to natural disasters, such as floods, hurricanes, or tornadoes, typically face higher rebuilding costs, leading to increased insurance premiums. It is important to understand that standard insurance policies might not cover damages caused by floods or hurricanes. If you live in a flood-prone area, it is advisable to purchase flood insurance.

How much is homeowners insurance for a $300,000 house in Colorado Springs

As per rate analysis by Insure.com, homeowners residing in Colorado Springs typically pay an average of $4,903 annually to insure a home for coverage limits of $300,000 dwelling, $100,000 liability protection with a $1,000 deductible.

Your home insurance rates will be increased by $1,244 if you increase your dwelling coverage from $200,000 to $300,000. It is advisable to buy enough insurance sufficient insurance to cover the entire cost of rebuilding your home. However, the amount of dwelling coverage you need may vary depending on the size of your home, the features in your home, and the cost of living in your area.

How much is homeowners insurance in Colorado Springs by company

Among the carriers analyzed, State Farm is the most affordable homeowners insurance company in Colorado Springs. It’s average annual rate for homeowners in Colorado Springs is $3,175.

Allstate, ranks second and American Family makes it to the third spot with an average annual home insurance rate of $4,010.

Research on the company is essential before selecting a homeowners insurance policy. Insure.com has thoroughly examined all insurance companies operating in Colorado Springs and compiled a list of the most affordable home insurance companies.

Below are details of Colorado Springs home insurance companies and their average annual premiums.

Home insurance company	Annual rate
State Farm	$3,175
Allstate	$3,575
American Family	$4,010
Farmers	$6,202
Nationwide	$6,869
USAA*	$4,426

Methodology

Insure.com, with the help of Quadrant Information Services, gathered data for homeowners insurance rates in Colorado Springs for $300,000 dwelling coverage and $100,000 liability coverage with a $1,000 deductible. The data presented are those with a good credit tier alignment.