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Condo insurance isn’t required by law in Colorado, but your mortgage company likely requires it. Condo insurance is a home insurance policy that covers everything inside your condo, while the homeowners association’s insurance covers the outside of your building and common areas.

Depending on your HOA’s rules, your condo insurance may cover not only personal property, but also provides dwelling coverage known as building property coverage, for the interior of the structure. Make sure you know how much condo insurance you need before you buy condo insurance.

To find the best condo insurance in Colorado, we’ve gathered data on the top companies. Below you’ll find a list of the best condo insurance companies in Colorado with average annual rates.

Key takeaways

  • The residents of Colorado pay an average of $760 per year for condo insurance for a coverage level of $60,000 for personal property, $300,000 for liability protection with a $1,000 deductible.
  • Based on the analysis by Insurance.com, State Farm is the top pick for the best condo insurance company in Colorado.
  • Allstate offers the cheapest condo insurance in Colorado at an average of $296 per year.

Best condo insurance companies in Colorado

In Colorado, you have a lot of options when it comes to finding the best condo insurance company. To make your task easier, our insurance experts have analyzed premiums, coverage offerings, J.D Power score and customer satisfaction ratings of major insurers in Colorado. Below are the best condo insurance companies in Colorado based on Insurance.com’s analysis.

CompanyJ.D. Power ScoreAM Best RatingAverage rating (out of 5)
State Farm829A++
4.1
USAA884A++
3.8
Chubb Ltd809A++
3.8
Allstate815A+
3.8
Country Financial830A+
3.6
American Family842A
3.4
Farmers792A
2.9

Average cost of condo insurance in Colorado

The average cost of condo insurance in Colorado is $760 a year or $63 a month with $1,000 as deductible, $60,000 in personal property coverage, and liability coverage of $300,000. Your average annual premium will vary depending on your location, the coverage limits you select, and the deductible amount among other factors.

To find the most affordable policy for your situation, compare quotes from multiple providers based on the coverage you need.

Average Annual PremiumAverage Monthly Premium
$760$63

CONDO INSURANCE CALCULATOR

Average condo insurance rates in COLORADO

$60,000
$1,000
$100,000
80111 - Centennial
Personal Property Coverage $60,000, Deductible $1,000 and Liability $100,000.

AVERAGE RATE: $917

HIGHEST RATE: $2,183 LOWEST RATE: $280

Most & least expensive zip codes for condo insurance in Colorado

Most Expensive

Zip CodeCityHighest Rate
81023Beulah$1,081
81069Rye$1,074
81019Colorado City$1,042
81022Avondale$1,035

Least Expensive

Zip CodeCityLowest Rate
80528Fort Collins$707
80538Loveland$715
80525Fort Collins$722
80526Fort Collins$727

Condo insurance rates by company in Colorado

Rates for condo insurance by company in Colorado vary. It’s important to shop around and compare quotes to find the best price. 

In the table given below, you’ll see condo insurance rates for major companies in Colorado. The cheapest company for condo insurance in Colorado is Allstate. State Farm, and Chubb Ltd, are the second and third cheapest options.

CompanyAverage Annual Rate
Allstate$296
State Farm$402
Chubb Ltd$449
Farmers$464
Country Financial$556
American Family$621
USAA$1,204

Methodology

Insurance.com compared condo insurance rates provided by Quadrant Data Solutions in 2022 for $60,000 of personal property coverage with a $1,000 deductible and $300,000 of liability coverage for all available ZIP codes and with a good credit score. The content was updated in 2023.

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