Home Insurance in Colorado Springs, Colorado: Key Considerations
Colorado Springs is known for its beautiful landscapes and outdoor activities. However, wildfire risks and harsh winters make home insurance a necessity for homeowners in the area.
National vs. Colorado Springs Home Insurance Costs
The national average cost for home insurance is $1,400 per year, while Colorado Springs homeowners pay about $1,800 per year, primarily due to wildfire risks and winter storms.
Home Insurance Rates by Home Age in Colorado Springs
Home Age
Average Annual Premium
0-10 years
$1,700
10-20 years
$1,750
20-30 years
$1,800
30+ years
$1,900
Impact of Home Age on Insurance Rates in Colorado Springs
Newer homes tend to have lower premiums due to modern safety features, while older homes carry higher premiums due to outdated electrical and plumbing systems that increase risk.
Home Insurance Rates by Credit Tier in Colorado Springs
Here’s a breakdown of how credit scores influence home insurance costs:
Excellent Credit (750+): $1,700/year
Good Credit (700-749): $1,800/year
Fair Credit (650-699): $1,900/year
Poor Credit (Below 650): $2,100/year
Cheapest Home Insurance Providers in Colorado Springs
Here are some of the most affordable home insurance companies in Colorado Springs:
State Farm: $1,750/year
Allstate: $1,780/year
Liberty Mutual: $1,760/year
USAA: $1,720/year
Farmers Insurance: $1,790/year
Home Insurance Rates by Deductible in Colorado Springs
$500 Deductible: $1,900/year
$1,000 Deductible: $1,800/year
$2,000 Deductible: $1,700/year
$5,000 Deductible: $1,600/year
Types of Homeowners Insurance in Colorado Springs
HO-3 (Special Form): Covers your home and belongings from a wide range of risks.
HO-5 (Comprehensive Form): Offers more extensive protection, particularly for personal property.
HO-6 (Condo Insurance): Covers condo owners’ belongings and parts of the interior.
HO-8 (Older Home Insurance): Tailored for historic homes, covering them at actual cash value rather than replacement cost.
Comparing Colorado Springs to Other Colorado Cities
Denver: Homeowners in Denver pay around $1,900/year, making it more expensive than Colorado Springs. Learn more about Denver home insurance here.
Aurora: Aurora homeowners enjoy lower premiums, with an average cost of $1,750/year.
