There’s a lot to take into account when shopping for renters insurance, but we’ve compiled a list of the top providers in Colorado. Our insurance experts have analyzed price quotes from Colorado’s largest renters insurance companies to help make your decision easier. Below is the list of cheapest renters insurance companies in Colorado:
- Nationwide
- Allied
- Farmers
- Travelers
- State Farm
Cheapest renters insurance companies in Colorado
Nationwide offers the cheapest renters insurance in Colorado at an average annual rate of $153 or $13 per month. Based on Insure.com’s rate analysis, we have mentioned cheap renters insurance companies in Colorado along with their average annual rates.
| Company | Average annual rate | Average monthly rate |
|---|---|---|
| Nationwide | $153 | $13 |
| Allied | $159 | $13 |
| Farmers | $190 | $16 |
| Travelers | $199 | $17 |
| State Farm | $201 | $17 |
| Allstate | $212 | $18 |
| Fire Ins Exch | $215 | $18 |
| USAA | $240 | $20 |
| Garrison | $250 | $21 |
| American Family | $299 | $25 |
| Safeco | $313 | $26 |
| Liberty | $546 | $45 |
Average cost of renters insurance in Colorado by coverage level
In Colorado, the average cost of renters insurance is $221 per year or $18 per month, that’s $105 less than the national average of $326. These rates are for the coverage level of $20,000 for personal property, $1000 as deductible and $300,000 as liability protection.
Find below average cost of renters insurance in Colorado for coverage levels of- $40,000 and $60,000 with liability protection of $300,000 and $1000 as deductible.
| Coverage level | Avg. annual renters insurance rate | Avg. monthly renters insurance rate |
|---|---|---|
| $20,000 | $221 | $18 |
| $40,000 | $292 | $24 |
| $60,000 | $358 | $30 |
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. Based on our findings, the most affordable zip code for renters insurance in Colorado is 81024. Its average annual rate $252 or $21 per month.
The above mentioned rates are for the coverage limits of $40,000 for personal property, $1000 as deductible, and 100,000 in liability protection. 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.
| ZIP code | Average annual rate | Average monthly rate |
|---|---|---|
| 81024 | $252 | $21 |
| 81020 | $254 | $21 |
| 81027 | $255 | $21 |
| 80501 | $256 | $21 |
| 80026 | $257 | $21 |
| 80503 | $258 | $22 |
| 80454 | $259 | $22 |
| 80027 | $260 | $22 |
| 80304 | $261 | $22 |
| 80301 | $262 | $22 |
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 $338 a year or $28 monthly.
We have analyzed quotes from the major insurance carriers across all the zip codes in Colorado. Below we’ll provide the average annual renters insurance costs by ZIP code, also find out how much renters insurance costs per month.
| ZIP code | Average annual rate | Average monthly rate |
|---|---|---|
| 80207 | $338 | $28 |
| 80203 | $337 | $28 |
| 80205 | $336 | $28 |
| 80204 | $335 | $28 |
| 80218 | $334 | $28 |
| 80202 | $333 | $28 |
| 80210 | $331 | $28 |
| 80211 | $330 | $28 |
| 80216 | $329 | $27 |
| 80206 | $328 | $27 |
Renters and auto bundle discounts in Colorado
If you’re looking for ways to trim costs on your insurance premiums, consider purchasing both renters and auto policies from the same company. Bundling policies can help you save an average of $124 per year in Colorado. State Farm offers the cheapest rate on renters and auto insurance bundle, you can save an average of $74 annually or 5%.
| Company | Average annual rate | Average base annual rate (without bundling) | $ bundle average savings | % bundle average savings |
|---|---|---|---|---|
| State Farm | $1,564 | $1,638 | $74 | 5% |
| Nationwide | $1,849 | $1,928 | $79 | 4% |
| Geico | $2,041 | $2,099 | $58 | 3% |
| Owners | $2,266 | $2,385 | $119 | 5% |
| Allstate | $2,320 | $2,368 | $49 | 2% |
| American Family | $2,446 | $2,597 | $151 | 6% |
| Farmers | $2,656 | $2,854 | $198 | 7% |
| Progressive | $3,098 | $3,365 | $267 | 8% |
