Renters insurance in Colorado: Cost, best companies and how to save

What is the average cost of renters insurance in Colorado?

The average cost of renters insurance in Colorado is $175 per year. Rates vary depending on factors like your location, the amount of coverage you choose, your deductible, and your claims history.

"The number one thing that's most important is to get good liability. A renter's policy will default to $100,000 liability," Josiah Hatch, an insurance pro with Bender Hatch Insurance in Boston, said. "It costs next to nothing to go from $100,000 to $500,000. I want to say it's probably 10 bucks a year. It's really cheap to get a lot of extra coverage. I always recommend getting the most liability you can because that's, at its core, what insurance is all about: the worst-case scenario."

Average annual premium	$175
Average monthly premium	$15

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Best renters insurance company in Colorado: Chubb Ltd

Chubb Ltd ranks as the best renters insurance company in Colorado, earning a top score among the carriers we surveyed. Its average rate is $180 per year.

Farmers and State Farm are also among the top insurance companies for renters insurance in Colorado.

Renters insurance rates vary significantly among providers, so you should compare options before choosing. You should also select a company with a good reputation to ensure it will be there if you have a claim.

To help you find the best renters insurance in Colorado, we evaluated average rates, NAIC complaints ratio, and AM Best financial ratings. We calculated the total Insurance.com score out of five using these factors.

Here are the best renters insurance companies in Colorado.

Company	Average annual premium	AM Best	NAIC	Insurance.com rating
Chubb Ltd	$180	A++	0.18	5
Farmers	$180	A	0.54	4.26
State Farm	$167	A++	0.95	3.87
Allstate	$171	A+	0.9	3.84
American Family	$297	A	0.37	3.42

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Cheapest renters insurance in Colorado

State Farm is the cheapest renters insurance company in Colorado, with an average annual premium of $167, based on our analysis.

Since renters insurance rates vary significantly from one provider to another, comparing quotes is the best way to find affordable coverage that fits your needs.

Below is the list of the cheapest renters insurance companies in Colorado and their average annual premiums.

Company name	Average annual premium
State Farm	$167
Allstate	$171
Chubb Ltd	$180
Farmers	$180
American Family	$297
USAA	$145

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Renters insurance calculator

Average renters insurance rates in Colorado

Most & least expensive ZIP codes for renters insurance in Colorado

Most expensive
Least expensive

ZIP code	City	Highest rate
80207	Denver	$200
80205	Denver	$198
80208	Denver	$197
80203	Denver	$197

ZIP code	City	Lowest rate
80433	Conifer	$163
80457	Kittredge	$163
80425	Buffalo Creek	$164
80453	Idledale	$164

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Colorado renters insurance: The least and most expensive ZIP codes

Where you live in Colorado directly affects the cost of your renters insurance. The most expensive ZIP code in Colorado is 80207, where the average annual premium is $200. This is $25 more than higher than the average rate.

In contrast, the least expensive ZIP code for renters insurance is 80433, offering coverage at $163 a year.

The table below shows the most and least expensive ZIP codes in Colorado for renters insurance.

Best home insurance companies in Texas

Most expensive ZIP code
Least expensive ZIP code

ZIP code	Average annual rate
80207	$200
80205	$198
80208	$197
80299	$196
80246	$195
80239	$194
80236	$190
80219	$189
81003	$188
81069	$187

ZIP code	Average annual rate
80457	$163
80433	$163
80454	$164
80501	$166
80403	$167
80206	$184
80222	$185
80220	$188
81025	$189
81006	$190

Renters insurance cost in Colorado by city

In Colorado, renters insurance rates vary across cities due to factors such as weather risks, crime rates, and other factors. To get the best deal in your city, Compare quotes from several insurers before selecting a policy, so they weigh each factor differently.

City	Annual insurance premium
Arvada	$169
Aurora	$177
Colorado Springs	$175
Denver	$185
Fort Collins	$170
Greeley	$177
Pueblo	$182

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How to save on renters insurance in Colorado

There are several easy ways to lower the cost of renters insurance in Colorado without losing necessary coverage:

Bundle your policies. Many insurance companies offer a discount if you buy renters and auto insurance together.
Increase your deductible. Choosing a higher deductible will lower your monthly or yearly premium; just ensure you can afford it.
Ask about discounts. Most providers offer savings for things like smoke alarms, security systems, or being claims-free.
Compare quotes. Prices can vary widely between companies, so getting quotes from multiple insurers can help you find the best deal.
Pay annually. Some insurers offer a small discount if you pay once a year instead of monthly.

Methodology

Insurance.com compared renters insurance rates provided by Quadrant Information Services for $40,000 personal property coverage with a $1,000 deductible and $100,000 liability coverage for all available ZIP codes based on a renter with good credit. To rank the best insurance companies, we gathered AM Best financial stability ratings, where an A++ is the best possible score, and National Association of Insurance Commissioners (NAIC) complaint ratios, which compare the number of complaints a company receives to the anticipated complaint volume based on market share. These factors were used along with rates to find the best companies overall.

FAQ: Colorado renters insurance

Do I need renters insurance in Colorado?

Renters insurance isn't required by law, but your landlord may require you to purchase a policy as part of your lease agreement.

How much renters insurance do I need in Colorado?

You don't need any renters insurance by law, but when buying a policy you should ensure you have enough personal property coverage to cover all of your personal property at replacement cost.