Colorado homeowners premiums are among the highest in the country, mainly because of hail and wildfire. The Front Range sits in “Hail Alley,” and Colorado regularly ranks second only to Texas for hail insurance claims. The December 2021 Marshall Fire destroyed more than 1,000 homes in Boulder County and showed that wildfire can reach suburban neighborhoods. Higher rebuilding costs and the rising cost of reinsurance add to it.
Insurers file their own rates with the Colorado Division of Insurance, and many now use percentage wind and hail deductibles. Homeowners who can’t find coverage in the private market can turn to the Colorado FAIR Plan, the state’s insurer of last resort.
To keep your premium down, ask about discounts for a Class 4 impact-resistant roof, bundle home and auto, understand your wind and hail deductible, create defensible space if you live near open land, and compare carriers at renewal.
Questions about your own policy? Johnson Insurance Agency in Englewood helps families and businesses across the Denver metro area and Colorado compare coverage from multiple carriers. Call us at 303-768-8130.
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