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Colorado Home Insurance

Colorado's natural beauty makes it a great place to call home. Homeowners insurance plays a role in protecting your investment, offering financial security and peace of mind. With the right coverage, you can fully enjoy your home and the surrounding landscape, knowing you’re safeguarded against potential risks.

Is home insurance required in Colorado?

Colorado law doesn’t legally require homeowners to have insurance on their property, but if you finance your home through a mortgage, your lender will likely require you to have homeowners insurance. Even if you own your home outright without a mortgage, it’s still highly advisable to be insured. Home insurance is not a one-size-fits-all product. It should be tailored to your specific situation and needs.

Typical homeowners insurance coverages in Colorado

  • Coverage A – Dwelling:

    Coverage for your home and attached structures for damage caused by events such as fire, lightning, wind or hail.

  • Coverage B – Other structures:

    This covers damage to other structures on the property that are set apart from the dwelling, such as a fence, shed or detached garage.

  • Coverage C – Personal property:

    Coverage for your belongings, such as furniture, clothing and electronics, if they’re damaged by a peril listed in your policy.

  • Coverage D – Loss of use:

    This covers your temporary living expenses when a covered loss makes your home unfit to live in.

  • Coverage E – Personal liability:

    This covers damage or injury to another person or their property that you’re responsible for causing. It also covers legal assistance for claims made against you.

  • Coverage F – Medical payments to others:

    This coverage can pay for medical bills for people who are accidentally hurt on your property, not including members of your household.

Remember, each of these coverages is subject to a policy limit, deductible and exclusions, which are specified within your policy. 

Your homeowners insurance won’t cover flood damages, so it helps to ensure you’re properly covered if there’s a flood. Flood insurance policies are available and are written through the federally backed National Flood Insurance Program. It’s common for mortgage companies to require flood insurance if your home is within or near a floodplain. Regardless, a flood can occur anywhere, and it’s a good idea to buy this additional coverage.

Additional coverages in Colorado

You may find that the general coverages afforded in a basic homeowners policy don’t cover certain losses or types of property. Amica offers home insurance options in the form of policy endorsements that can fill in some of those gaps in coverage. Adding endorsements to your Colorado homeowners insurance policy can provide valuable additional coverage tailored to your specific needs. Here are a few endorsements you might consider:

  • Special computer coverage:

    Additional protection beyond what’s included in your policy for devices against direct physical loss, like accidental damage or theft. Devices covered under special computer coverage include:

    • Desktops
    • Laptops
    • Smartphones
    • Gaming devices
    • Smart TVs

  • Identity fraud expenses:

    Identity theft is a growing concern, and this endorsement can help cover expenses associated with restoring your identity, such as legal fees, lost wages and other related costs.

  • Water backup and sump overflow:

    Unexpected and accidental water damage, like from an appliance or burst pipes, is covered by most homeowners insurance policies. But, at the same time, they also exclude coverage for backed-up sewers and drains. This endorsement provides coverage for water that backs up through drains and sump pumps.

  • Scheduled personal property:

    If you have high-value items such as jewelry, fine arts or collectibles, a basic homeowners policy may not provide sufficient coverage. With this endorsement, you can insure specific items to make sure they’re adequately covered against loss or damage.

  • Earthquakes:

    A standard Colorado policy excludes damage caused by earth movement, including earthquakes. This endorsement would extend coverage to damage caused by an earthquake.

Understanding rate factors for Colorado home insurance

The location of your home is a factor that impacts your home insurance premiums. Different areas may face varying risks and exposures that will impact your policy premium, such as your proximity to hail and wildfire-prone areas. 

Your Colorado insurance policy should be as unique as your residence, tailored to your specific needs and circumstances. That’s why we emphasize the importance of selecting the right coverage. By customizing your policy to suit your coverage needs, you not only ensure adequate protection for your home but also gain some control over your rates.

Explore Colorado homeowners insurance discounts for more savings

There are several ways Colorado homeowners can save money on home insurance without compromising the quality of their coverage.1 We offer home insurance discounts for:

  • Alarm systems: Receive a discount when you insure a home with burglar alarms, sprinkler systems or fire alarms.
  • Automatic detection devices: Insure a home in Colorado with a temperature monitoring or water leak detection system installed and receive a discount.
  • New or remodeled homes: Receive a credit when you insure a new or remodeled home.
  • Claim-free: Receive a discount when you’ve had no claims in the past three years.

If these don’t apply to you, we also offer discounts for:

  • AutoPay: Receive a discount when you opt to pay your premium using automatic deductions.
  • E-discount: Receive a discount when you sign up to receive policy information and bills electronically.
  • Paid in full: Save money when you pay the entire balance of your Colorado policy premium up front.

One of the best ways to conveniently manage all of your insurance needs and save money at the same time is to bundle your insurance coverages for home and auto with the same insurance company. In fact, Colorado homeowners who bundle auto and home insurance with Amica could save up to 20% with a multiline discount.1

Facts and figures about Colorado

Common claims in Colorado:

  • Roof damage: Hailstorms and high winds can result in property damage, including roof damage and falling trees. Homeowners insurance usually covers roof damage caused by hail, wind or fallen trees, although coverage may be subject to certain exclusions or limitations.
  • Wildfires: The combination of rising temperatures and dry conditions makes Colorado particularly susceptible to wildfires, which can result in the loss of homes and personal belongings. These damages are generally covered by homeowners insurance, but limits or exclusions may apply.

Colorado homeowners may want to consider purchasing supplemental coverage for specific risks, such as flood insurance for properties located in flood-prone areas.

Fun facts about Colorado:

  • The city of Leadville has the highest elevation in the U.S., reaching over 10,000 feet. 2
  • World Heritage site Mesa Verde National Park is the location of the 700-year-old Ancestral Pueblo community.2 
  • Katharine Lee Bates was inspired to write “America the Beautiful” by a visit to Pikes Peak in 1893.2

How to get home insurance in Colorado

We’re here to guide you through the process of personalizing your homeowners insurance in Colorado. Here’s how to secure your policy in three easy steps:

  1. Assess your coverage needs:

    An Amica representative can provide personalized guidance and help you navigate your options to find the right coverage for your needs. 

  2. Discover potential discounts:

    A representative can also assist you in exploring potential discounts or cost-saving measures available to Colorado homeowners based on your unique circumstances.

  3. Get a quote:

    Amica offers convenient options for getting a quote. You can either get a home insurance quote online or call 800-242-6422 today to speak with a representative.

With Amica, you can rest easy knowing that your home is safeguarded against the unexpected, allowing you to focus on what matters most – enjoying life in beautiful Colorado.

Get a home insurance quote

or call 833-513-3881

1 Discounts not available in all states and may vary.
2 Colorado Travel Facts
 

Your Policy, Policy Declarations or Amended Declarations in effect on the date of loss is the primary source of reference for your coverage, coverage limits and deductible amounts.

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