Average renters insurance cost in Colorado

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Renters insurance costs in Colorado varies depending on various factors, including the coverage amount, insurance company, and individual circumstances. But, the average renters insurance cost in Colorado is $187 per year or $16 per month for coverage limits of $40,000 for personal property coverage, $300,000 in liability coverage and a $1000 deductible. These are average rates and actual premium costs may differ.

Renters insurance companies in Colorado

USAA offers affordable renters insurance in Colorado at an average annual rate of $145 followed by State Farm and Allstate, based on Insure.com’s analysis.

But it’s smart to get multiple quotes for various renters insurance companies in Colorado because the prices vary a lot among carriers.

Below we have compared the average annual and monthly renters insurance rates of insurance companies across Colorado.

Average cost of renters insurance in Colorado by coverage level

As we discussed above, in Colorado, the average cost of renters insurance is $187 per year, that’s $80 more than the national average. These rates are for the coverage level of $40,000 for personal property coverage, $300,000 in liability coverage and a $1000 deductible.

However, if you lower the personal property coverage from $40,000 to $20,000, you will pay $143 per year for renters insurance in Colorado for $300,000 in liability protection and $1000 deductible.

Find below the average cost of renters insurance in Colorado for personal property coverage of $20,000 and $40,000.

Most affordable ZIP codes for renters insurance in Colorado

How much Colorado renters pay for insurance majorly depends on the ZIP code they live in. 80454 is the most affordable ZIP for renters insurance in Colorado among all the ZIP codes analyzed, at about $174 a year on average.

Rates vary based on the zip code, that’s why comparing quotes is one of the easiest ways to get the best deal on renters insurance in Colorado.

Least affordable ZIP codes for renters insurance in Colorado

Your zip code, among other factors, affects how much you pay for renters insurance in Colorado. 80207 is the least affordable zip code for Colorado renters at an average cost of $213 a year or $18 monthly.

We have analyzed quotes from the major insurance carriers across all the zip codes in Colorado. Below are the average annual renters insurance costs by ZIP code.

Renters insurance rates vary from one city to another. But with Insure.com, finding the right renters insurance policy is easy. Learn more about renters insurance costs for different cities below.

Renters and auto bundle discounts in Colorado

If you’re looking for ways to trim costs on your insurance premiums, consider purchasing renters and auto insurance from the same company.

Bundling policies can help you save an average of 15% per year in Colorado. State Farm offers the cheapest rate on renters and auto insurance bundle, you can save 35% a year on your premiums.

Final thoughts: Average renters insurance in Colorado

Renters insurance is a must-have for renters in Colorado. It protects your belongings in the event of damage from fire, theft, vandalism or any other natural disasters.

To find the best renters insurance at an affordable rate, shop around and compare quotes from multiple insurance companies. Consider factors like coverage options, deductibles, and customer reviews in addition to price.

Methodology

Insure.com commissioned Quadrant Information Services to gather renters insurance rates for all available ZIP codes in Colorado. These rates include a coverage limit of $300,000 for liability coverage, personal property coverage ranging from $20,000 to $40,000, and a $1,000 deductible, with credit tier alignment specified as good/none.

Explore other insurance options in Colorado

Cheapest homeowners insurance in Colorado

Average car insurance cost in Colorado

Non-owner auto insurance in Colorado

Shivani Gite

Contributing Writer

 

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Shivani Gite is a personal finance and insurance writer with a degree in journalism and mass communication. She is passionate about making insurance topics easy to understand for people and helping them make better financial decisions.

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