Best & Cheapest Homeowners Insurance in Lakewood, CO April, 2024

In Lakewood, Chubb provides the most budget-friendly homeowners insurance rates, with average annual premiums of $1,438.

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Updated: 14 April 2024
Written by
Bob Phillips
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After a thorough examination of homeowners insurance providers in Lakewood, Colorado, we’ve found that Chubb emerges as the most budget-friendly option, offering average annual rates of $1,438. However, it’s essential to recognize that the best insurer for you depends on your specific circumstances.

For instance, if your credit score has suffered, Allstate is the most economical choice, with an average yearly premium of $2,967. Conversely, if you own an older home, State Farm provides competitive rates at $2,239 annually, along with comprehensive coverage.

On the other hand, if you have a newly constructed home, Nationwide offers the most cost-effective solution at $1,250 per year. And for individuals with a history of claims, Allstate again presents affordable coverage at $3,124 annually.

Moreover, if you require coverage for valuable personal property, Chubb once again stands out, offering extensive coverage at a reasonable rate of $1,874 per year.

Our comprehensive analysis at Insuranceopedia aims to help you find the perfect fit for your homeowners insurance needs. By comparing customer ratings, evaluating personal experiences, and presenting comparison charts, we strive to provide you with all the necessary information to make a well-informed decision.

How much is homeowners insurance in Lakewood, CO?

Chubb provides the most budget-friendly option at $1,438 per year.

As shown below, rates in Lakewood exceed the national average. However, they are lower than the average rates for the state of Colorado.

Area Average Annual Rate
National $1,820
Colorado $3,166
Lakewood $2,772

Recognizing that insurance rates aren’t stable and can vary significantly depending on several factors is essential.

For example, your personal driving history is crucial; a record with traffic violations or accidents often leads to higher premiums compared to a clean record. Additionally, the type and model of your vehicle are significant factors, as high-performance or luxury cars typically incur higher insurance costs.

Your location can also impact your rates, with densely populated urban areas typically facing higher premiums due to elevated risks such as theft or accidents. Furthermore, your age and marital status can also influence your car insurance premiums.

Best and Cheapest Homeowners Insurance in Lakewood, CO

Our Methodology

To identify the most cost-effective home insurance rates in Lakewood, we thoroughly examined data from various home insurance review platforms, including those analyzing rates sourced from public filings obtained by Quadrant Information Services. Our assessment combined an average of these rates for this evaluation. However, it's crucial to acknowledge that each company's rates fluctuate regularly and may vary based on your individual circumstances. Additionally, our overall rating incorporates my subjective viewpoint, drawing from fifteen years of experience as a licensed insurance agent and over three decades of purchasing home insurance.

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Quotes Analyzed

24

Brands Reviewed

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Years Of Experience

40+

Research Hours

Cheapest Overall Home Insurance In Lakewood, CO

Chubb stands out as the most economical option for homeowners insurance in Lakewood, CO, with an average annual rate of $1,438.

Company Annual Premium
Chubb $1,438
Allstate $2,437
Nationwide $2,660
State Farm $2,753
Farmers $5,584

The price of your policy is influenced by several factors, including your location, your home’s value, and your claims history. Chubb provides a balanced blend of affordability and comprehensive coverage.

Cheapest home insurance If You Have Poor Credit

If your credit score isn’t excellent, Allstate offers the most cost-effective solution, with an average annual rate of $3,357.

Insurance Company Average Annual Premium
Allstate $3,357
USAA $3,415
Chubb $3,763
State Farm $5,160
Nationwide $5,312

Your credit score can have a significant impact on your insurance rates, as insurers use it to assess risk. Allstate recognizes the importance of providing fair coverage for everyone, regardless of their financial history.

Cheapest Home Insurance If You Have an Older Home

Homeowners with older homes can secure the most budget-friendly rates with State Farm, averaging $2,539 per year.

Insurance Company Average Annual Premium
State Farm $2,539
Allstate $3,012
Shelter $3,273
Farmers $3,834
Nationwide $3,948

Older homes often come with unique risks and maintenance challenges, which can result in higher insurance costs. State Farm offers competitive rates and comprehensive coverage specifically designed to address the needs of older homes.

Cheapest Homeowners Insurance for Newly Constructed Homes

If you’ve recently purchased a newly constructed home, Nationwide provides the most cost-effective option, with an average annual rate of $1,250.

Insurance Company Average Annual Premium
Nationwide $1,250
USAA $1,526
Travelers $1,760
Allstate $1,778
State Farm $2,088

Newly constructed homes often require specialized coverage compared to older properties, and Nationwide stands out in providing affordable policies tailored to address these specific needs.

Cheapest Homeowners Insurance for a History of Claims

For homeowners with a history of claims, Allstate offers an affordable solution, with an average annual rate of $3,124.

Insurance Company Average Annual Premium
Allstate $3,124
Farmers $4,065
Chubb $4,132
Shelter $4,645
Nationwide $6,809

A history of claims can raise concerns for insurers, often leading to higher premiums. However, Allstate believes in providing second chances and offers reasonable rates for individuals with previous claims.

Cheapest Home Insurance for Lots of Personal Property

If you own a significant amount of personal property, Chubb provides the most affordable option, with an average annual rate of $1,874.

Insurance Company Average Annual Premium
Chubb $1,874
Allstate $2,456
Nationwide $2,790
State Farm $3,004
USAA $3,173

As your personal property increases, your coverage needs may also rise, potentially resulting in higher premiums. However, Chubb provides comprehensive coverage at reasonable rates, ensuring adequate protection for all your belongings.

Best Homeowners Insurance Companies in Lakewood, CO

Selecting the appropriate homeowners insurance isn’t merely a necessity; it’s a strategic decision. With a rich history and diverse cultural heritage, Lakewood’s homes mirror the uniqueness of its residents. Therefore, finding an insurance provider offering comprehensive coverage at competitive rates becomes essential.

To simplify your decision-making process, we’ve compiled a list of the top homeowners insurance companies in Lakewood, CO. These companies have been evaluated based on their annual premiums, coverage options, customer satisfaction ratings, and overall reliability. Delve into our comparison chart below to find the perfect fit for your home insurance needs.

Ranking Company Annual Premium
1 Chubb $1,436
2 Allstate $2,437
3 Nationwide $2,660
4 State Farm $2,753
5 Auto Owners $1,015
6 Farmers $5,584
7 USAA $3,042
8 Travelers $2,757

Average Home Insurance Rates by Zip Codes

Homeowners insurance prices in Lakewood, CO can differ significantly depending on the zip code. Below, you’ll find tables displaying rates for various zip codes in Lakewood, along with information on the cheapest and most expensive zip codes in the area for annual home insurance premiums.

ZIP Code Average Insurance Premium (Annual)
80226 $2,590
80214 $2,627
80227 $2,628
80232 $2,589
80228 $2,602
80215 $2,640

Cheapest Zip Codes

ZIP Code Average Insurance Premium (Annual)
80232 $2,589
80228 $2,602
80226 $2,590

Most Expensive Zip Codes

ZIP Code Average Insurance Premium (Annual)
80215 $2,640
80214 $2,627
80227 $2,628

Average Home Insurance Rates in Lakewood, CO by Deductible Amount

The chosen deductible amount for a homeowners insurance policy significantly impacts premium rates in Lakewood, CO. Below is a breakdown of how average home insurance rates vary among insurers for various deductible amounts:

Deductible Amount Average Annual Premium
$500 $3,128
$1,000 $2,872
$2,000 $2,798

Average Home Insurance Rates in Lakewood, CO By Coverage Amount

One critical factor affecting your premium is the dwelling coverage amount. This represents the maximum sum your insurance provider will pay to rebuild or repair your home if it suffers damage or destruction. Let’s review a comparison chart outlining the average annual homeowners insurance premiums for various dwelling coverage amounts.

Dwelling Coverage Amount Average Annual Premium
$200,000 $2,068
$250,000 $2,630
$300,000 $2,876
$350,000 $3,221
$400,000 $3,563

Average Home Insurance Rates in Lakewood, CO by Company

Here’s a comparison table displaying annual premiums from some of the top providers in Lakewood, Colorado:

Company Annual Premium
Chubb $1,436
Allstate $2,437
Nationwide $2,660
State Farm $2,753
Auto Owners $1,015
Farmers $5,584
USAA $3,042
Travelers $2,757

How Much is Homeowners Insurance for Other Cities in Colorado?

Here’s a detailed comparison chart that highlights the cheapest companies and their annual premiums across various cities in Colorado:

City Annual Premium
Bedrock $1,653
Colorado Springs $3,251
Denver $3,124
Georgetown $2,376

Getting Online Homeowners Insurance Quotes in Colorado

With informative platforms like Insuranceopedia, finding the perfect coverage for your specific needs is just a few clicks away. By offering quick online quotes from a variety of top-rated insurers, Insuranceopedia allows you to compare rates effortlessly. Simply input your details, and we’ll take care of the rest, presenting you with a range of options tailored to your requirements.

This approach empowers you to confidently select a policy that provides the best value, balancing cost with comprehensive coverage.

FAQs

Who has the cheapest home insurance in Lakewood, CO?

In Lakewood, Colorado, Chubb offers the most affordable home insurance option, with an annual premium of $1,438.

What is the average cost of home insurance in Lakewood, CO?

On average, homeowners insurance in Lakewood, Colorado, costs around $2,772 annually.

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