USAA has the lowest rate for home insurance in Denver, Colorado, with an average rate of $151 a month. However, USAA only provides insurance for currently serving and veteran military personnel. For civilian homeowners, the cheapest homeowners insurance premium comes from State Farm at $180 a month.
Denver's average rate is higher than the Colorado average. This makes finding the best coverage at the cheapest cost a priority. We will help you compare cost and policy offerings from multiple home insurance providers.
In this article
What are the cheapest home insurance companies in Denver?
While USAA has the cheapest rate, the majority of Denver homeowners who are not in the military get the most affordable insurance with State Farm at $180 a month. Great Northern is next at $203 a month.
| Company | Monthly rate |
|---|---|
| USAA | $151 |
| State Farm | $180 |
| Great Northern | $203 |
| American Family | $243 |
| Travelers | $305 |
| Country Mutual | $337 |
| Allstate | $342 |
| Farmers | $360 |
| Nationwide | $387 |
| Average rates are based on non-binding estimates provided by Quadrant Information Services. Your rates may vary. | |
How much is home insurance in Denver?
The average cost of homeowners insurance in Denver is $279 a month. This is 18% higher than the average Colorado rate of $236 a month, and 91% higher than the national average premium of $146 a month.
| Region | Monthly rate |
|---|---|
| Denver | $279 |
| Colorado | $236 |
| U.S. | $146 |
| Average rates are based on non-binding estimates provided by Quadrant Information Services. Your rates may vary. | |
Various factors go into the calculation of your home insurance quote that will affect your final rate. These include:
- Your ZIP code
- The age of the house
- Construction materials used
- Your insurance history
The covered items in a standard home insurance policy vary little from provider to provider, yet you can see that prices for a policy can be very different. The reason for this is that home insurance companies use different risk values for the factors involved in your quote.
For example, one home insurer might think the ZIP code your home is in bears a higher risk than another insurer does. This, combined with the high average cost of home insurance in Denver, make comparing quotes from several providers a high priority.
Get your best home insurance premium in Denver
Your policy deductible also plays a part in your final home insurance quote. The higher your deductible, the lower your rate. If you have a newer home, consider raising your deductible. This can save you a fair amount of money over time.
The best home insurance companies in Denver
We found USAA and State Farm to be the best home insurance providers currently operating in Denver. Here's why:
USAA: Best for military personnel
USAA has the cheapest rates for home insurance in Denver, with an average rate of $151 a month, 85% cheaper than Denver's average rate of $279. USAA is often considered "the best of the best" of insurance companies. In J.D. Power's 2022 U.S. Home Insurance Study, USAA received a score of 884 out of 1,000, the best of any home insurer in the study. USAA isn't officially ranked in the study due its limited market, otherwise it'd be at the very top of the study.
USAA only provides insurance products for currently serving and veteran military personnel, as well as their families. Colorado is home to the 10th-largest population of serving military in the country. If you count yourself among them, USAA is strongly recommended for your home insurance needs.
State Farm: Most popular provider
State Farm's has an average homeowners insurance rate of $180 a month in Denver, 55% lower than the Denver average rate. If you're not an active duty military member or a veteran, State Farm has the cheapest rates available.
State Farm also has 8.78% of the homeowners insurance market share, according to the NAIC's Property and Casualty Insurance Industry 2021 Market Share Report, making it the most popular underwriter of home insurance policies.
State Farm is consistently popular nationwide, due in part to its track record for excellent insurance claims resolution and satisfaction. J.D. Power gave State Farm an above-average ranking of 876 out of 1,000 in its 2022 U.S. Property Claims Satisfaction Study, the highest ranking among Denver insurers.
Methodology
We collected quotes from every ZIP code in Denver from the following home insurance companies:
- Allstate
- American Family
- Country Mutual
- Farmers
- Great Northern
- Nationwide
- State Farm
- Travelers
- USAA
Average rates for a standard HO-3 homeowners insurance policy were calculated using the following coverages:
- $275,000 dwelling (unless otherwise noted)
- $27,500 other structures
- $137,500 personal property
- $55,000 loss of use
- $100,000 liability
- $5,000 medical payments
- $1,000 deductible (unless otherwise noted)
Car insurance by city
- Denver
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