Colorado Homeowners Pay Some of the Highest Insurance Costs In The Country

"The latest American Community Survey (ACS) data from the U.S. Census Bureau shows that in 2024, Colorado homeowners with a mortgage typically pay $2,000-$2,499 annually for homeowners insurance, while those without a mortgage average $1,500-$1,999. Overall, statewide costs are also in the $2,000-$2,499 range. Colorado has 1,635,345 insured homeowner households in total-1,127,939 with a mortgage and 507,406 without. Among mortgaged owners, 78,682 pay less than $100 annually and 200,063 pay $4,000 or more."

"Colorado homeowners are facing some of the steepest homeowners insurance costs in the Mountain West, with premiums well above the national average. Compared with nearby states, Colorado is clearly on the higher end. Utah homeowners with a mortgage typically spend $1,000-$1,499, while New Mexico's costs fall into the $1,000-$1,499 range as well. Nebraska homeowners report even higher expenses, at $2,000-$2,499 for mortgaged households. Wyoming and Kansas also trend upward, with averages ranging from $1,500-$1,999 to $2,000-$2,499."

Colorado homeowners face high insurance costs driven by climate risks, particularly hail and wildfire exposure. In 2024, homeowners with a mortgage typically pay $2,000–$2,499 annually, while those without a mortgage average $1,500–$1,999; overall statewide costs fall in the $2,000–$2,499 range. The state has 1,635,345 insured homeowner households—1,127,939 with a mortgage and 507,406 without. Among mortgaged owners, 78,682 pay less than $100 annually and 200,063 pay $4,000 or more; among those without a mortgage, 79,206 pay less than $100 and 80,861 pay $4,000 or more. Nearby states report lower typical premiums.

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