If you rent a home or apartment, then it is important that you have the right renters insurance to protect your personal property and its contents. Renters insurance covers damage caused by smoke or fire, vandalism, theft, a windstorm, and other disasters.
Renters insurance costs an average of $173 a year for Colorado residents. It's $78 less than the national average ($251). However, rates vary based on the zip code, property you want to insure, coverage you choose, among other factors.
If you are in search of the best renters insurance in Colorado, then this guide is for you. We have compared major insurance carriers and their average annual premiums for Colorado residents. Read on to know more about the insurance companies that have the best renters insurance policies, insurers that provide cheap renters insurance costs, and the least and most expensive zip codes for renters insurance in Colorado.
Key takeaways
- Standard renters insurance policy costs an average of $14 per month Colorado.
- With $160 per year, 80454 is the least expensive ZIP code in Colorado.
- In Colorado, USAA offers the cheapest renters insurance at $131 annually.
- USAA is the best renters insurance company based on the Insurance.com research, with a J.D.Power score of 886 out of 1,000.
- Best renters insurance companies in Colorado
- Compare best renters insurance companies in Colorado
- How much is renters insurance in Colorado
- 10 Most expensive zip codes in Colorado for renters insurance
- 10 Least expensive zip codes in Colorado for renters insurance
- Cheap renters insurance in Colorado by carrier
- Methodology
Best renters insurance companies in Colorado
When it comes to choosing the best renters insurance company in Colorado, you want to make sure that you are comparing apples to apples. Our experts at Insurance.com have compared quotes, coverage options and J.D Power score from all the major insurers in Colorado. Below is the list of best renters insurance companies in Colorado:
| Company | Average rating(out of 5) |
|---|---|
| USAA | 5 |
| State Farm | 3.5 |
| Allstate | 3.5 |
| Farmers Insurance | 3 |
Compare best renters insurance companies in Colorado
USAA is one of the best renters insurance companies in Colorado with the highest J.D. Power score (886), its average insurance rate is $131 a year. If you don't qualify for renters insurance coverage from USAA, you can consider buying a policy from State Farm. It has earned 836 scores out of 1000 from J.D Power.
You may want to take a look at what each plan offers, and which providers offer excellent customer service. The most important thing is to compare quotes from all the options available before making a final decision.
Find below the list of best renters insurance providers and their average annual insurance rates.
| Company | J.D. Power Score | Average Annual Premium | AM Best Ratings |
|---|---|---|---|
| Allstate | 837 | $169 | A+ |
| Farmers Insurance | 831 | $180 | A |
| State Farm | 836 | $165 | A++ |
| USAA | 886 | $131 | A++ |
How much is renters insurance in Colorado
The average annual premium for renters insurance in Colorado is $173 or $14 a month. However, this amount may vary by location and the amount of coverage you choose.
Based on an analysis by Insurance.com, the recommended coverage level for renters insurance is $40,000 for personal property, with a $1,000 deductible and $100,000 of liability protection.
| Average Annual Premium | Average Monthly Premium |
|---|---|
| $173 | $14 |
10 Most expensive zip codes in Colorado for renters insurance
If you are a renter in Colorado, it's important to know that your renters insurance premium may vary depending on the zip code you live in. The most expensive zip code for renters insurance in Colorado is 80207, its average rate is $199 annually.
Here are the 10 most expensive zip codes in Colorado for renters insurance-
| ZIP code | Average Annual Rate |
|---|---|
| 80207 | $199 |
| 80208 | $196 |
| 80238 | $195 |
| 80205 | $195 |
| 80246 | $193 |
| 80239 | $193 |
| 80204 | $192 |
| 80203 | $192 |
| 80210 | $192 |
| 80237 | $191 |
10 Least expensive zip codes in Colorado for renters insurance
Insurance companies take into account several factors including your zip code when deciding premiums for your standard renters insurance policy. The least expensive zip code for renters insurance in Colorado is 80454, its average annual rate is $160.
We have gathered price quotes from major insurance companies across all the zip codes and prepared a list of the 10 least expensive zip codes in Colorado for renters insurance.
| ZIP code | Average Annual Rate |
|---|---|
| 80454 | $160 |
| 80453 | $161 |
| 80457 | $161 |
| 80433 | $162 |
| 80425 | $162 |
| 80470 | $162 |
| 80533 | $162 |
| 80026 | $163 |
| 80510 | $163 |
| 80513 | $163 |
Cheap renters insurance in Colorado by carrier
One of the best ways to save money on renters insurance is to get quotes from several different companies to find out who offers the cheapest Colorado renters insurance. Among the carriers surveyed, USAA is the cheapest renters insurance company in Colorado, its average annual premium is $131.
Find below the list of best cheap renters insurance companies in Colorado and their average annual premium.
| Company Name | Average Annual Premium |
|---|---|
| USAA | $131 |
| State Farm | $165 |
| Allstate | $169 |
| Farmers | $180 |
| Chubb Ltd | $215 |
| American Family | $298 |
Methodology
Insurance.com compared renters insurance rates in 2022 provided by Quadrant Data Solutions for $40,000 personal property coverage with a $1000 deductible and $100,000 liability coverage for all available ZIP codes. ZIP codes were ranked based on the average rates for personal property coverage of $40,000, liability coverage of $100,000, and a $1,000 deductible and included good credit ratings. Content was updated in 2023.
