Key Takeaways
- Chubb is the cheapest insurance company in Denver, with customers paying an average annual premium of $1,805.
- Denver’s average home insurance rate is $3,406 a year — much higher than the statewide average of $2,934 a year.
- For most customers, State Farm is the next-cheapest provider.
In this article
Average home insurance rates in Denver
On average, Denver homeowners pay $3,406 a year for insurance. Paid monthly, that’s $284.
That’s 16% higher than the statewide average of $2,934 a year, or $245 a month.
Several factors determine the cost of your home insurance policy, including the age, construction style and location of your home. The cost to rebuild your home in the event of a disaster also plays a role, as does your insurance claim history.
Your home insurance deductible amount affects your premium as well. The chart below shows the average amount Denver homeowners pay, depending on their deductible.
| Deductible | Annual premium |
|---|---|
| $500 | $3,673 |
| $1,000 | $3,406 |
| $1,500 | $3,256 |
| $2,000 | $3,102 |
| Average rates are based on non-binding estimates provided by Quadrant Information Services. Your rates may vary. | |
Your rate will also change based on the amount of dwelling coverage you need. As you might expect, a higher dwelling coverage amount typically results in a higher rate.
| Dwelling coverage amount | Annual premium |
|---|---|
| $200,000 | $2,777 |
| $275,000 | $3,406 |
| $350,000 | $3,993 |
| $425,000 | $4,640 |
| $500,000 | $5,269 |
| Average rates are based on non-binding estimates provided by Quadrant Information Services. Your rates may vary. | |
To get your best rate for the coverage you need, compare home insurance quotes from a number of companies.
Cheapest home insurance companies in Denver
Chubb leads the way in terms of cheap insurance companies in Denver. The company charges an average of $1,805 — over $1,600 cheaper than the citywide mean.
USAA has the second-lowest rates, although those policies are reserved for military members and their families. For most customers, State Farm is the next-best choice.
| Insurance company | Annual premium |
|---|---|
| Chubb | $1,805 |
| State Farm | $2,315 |
| American Family | $3,882 |
| Allstate | $4,249 |
| Country Mutual | $4,253 |
| Farmers | $4,335 |
| Travelers | $4,353 |
| USAA | $2,055* |
| Average rates are based on non-binding estimates provided by Quadrant Information Services. Your rates may vary. *Only available to current/former military and their families. | |
See how much you could save by switching home insurance companies
Denver's best home insurance companies
We found Chubb and American Family to be the best home insurance options available in Denver. Here’s why:
Best rates: Chubb
Chubb has by far the cheapest home insurance rates of any provider in Denver, charging an average $1,805 a year. The company also offers a variety of discounts, including:
- Savings for purchasing other Chubb insurance policies
- Savings for installing smoke detectors, burglar alarms and other safety features
- Savings for having a new home or living in a gated community
What’s more, Chubb is also a citywide leader in customer satisfaction, earning the best score on the NAIC Complaint Index.
Best customer service: American Family
American Family leads the way among Denver home insurance companies for customer satisfaction. This is largely because the company tops all Denver providers on J.D. Power’s satisfaction score index, scoring 23 points higher than average.
The provider’s rates are also an appeal. For most customers, American Family is Denver’s third-cheapest insurer, charging $3,882 a year, on average. That’s significantly more than Chubb, but it’s cheaper than at least four other top companies.
Customer service ratings for Denver home insurance companies
American Family is Denver’s best-rated company on the J.D. Power satisfaction score index, earning a rating of 842. Meanwhile, Chubb tops the list of NAIC Complaint Index ratings, which measure a company’s average number of customer complaints.
J.D. Power’s customer satisfaction scores are based on customer surveys that rate home insurers on interaction, policy offerings, price, billing process, policy information and claims. Higher scores are better than lower ones.
| Insurance company | Overall satisfaction score |
|---|---|
| American Family | 842 |
| Country Mutual | 830 |
| State Farm | 829 |
| Allstate | 815 |
| Chubb | 809 |
| Travelers | 794 |
| Farmers | 792 |
| USAA* | 884* |
| Source: J.D. Power 2022 U.S. Home Insurance Study. *Brand is not rank eligible because it does not meet study award criteria. | |
The NAIC Complaint Index compares insurance companies by confirmed complaints. A company with a 2.0 Complaint Index rating has twice as many confirmed complaints as expected for its size. A 0.5 rating reflects half as many as expected.
| Insurance company | Overall satisfaction score |
|---|---|
| Chubb | 0.04 |
| Country Mutual | 0.07 |
| American Family | 0.13 |
| Travelers | 0.17 |
| USAA | 0.31 |
| Allstate | 0.33 |
| State Farm | 0.35 |
| Farmers | 0.39 |
| Source: National Association of Insurance Commissioners (2022 data) | |
Home insurance risks in Denver
Denver is susceptible to a wide range of weather events that could cause serious damage to your home. Among them: floods, thunderstorms and winter storms.
Thankfully, most insurance policies cover damage from thunderstorms and winter storms — including damage from hail, freezing and high winds. However, standard home insurance usually doesn’t cover flooding.
If you think you’re in an area where water damage is possible, you can purchase flood insurance through the National Flood Insurance Program (NFIP) or from a number of major providers.
Frequently asked questions
The average cost of home insurance in Denver costs $3,406 a year, which breaks down to $284 a month.
Chubb is the cheapest insurance company in Denver, charging $1,805 a year. State Farm and American Family are second and third, respectively.
Colorado does not require home insurance, but most lenders do. If you have a mortgage, you’ll likely need homeowners coverage.
Methodology
We collected quotes from every ZIP code in Denver, Colorado, for a standard HO-3 homeowners insurance policy 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)
Home insurance by city
- Denver
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