Best & Cheapest Renters Insurance In Colorado 2025

The average cost of renters insurance in Colorado is approximately $216 per year, or about $18 per month. This makes it an affordable way to protect your personal belongings and liability.

Since 34% of households in Colorado rent, it is important to find protection. That said, prices can fluctuate greatly in Colorado based on where you live, particularly in areas prone to tornadoes and seasonal hail damage, as well as crime rates.

Having had over 15 years of experience as a licensed property and casualty agent, I’ve helped many clients find the right renters insurance to suit their needs and budget. This deep industry knowledge allows me to provide insights that save you time and money while making sure you have the right coverage.

Cheapest Renters Insurance Companies In Colorado

Lemonade and Erie are the cheapest renters insurance companies in Colorado. Lemonade costs an average of $11 per month, while Erie costs around $13.

Best Renters Insurance Companies In Colorado 2025

Chubb is the best renters insurance company in Colorado, with average monthly premiums of $25.

Use the table below to view the best renters insurance companies in Colorado, and their average rates.

How Much Is Renters Insurance In Colorado?

The average cost of renters insurance in Colorado is typically around $18 per month, or about $216 annually. However, the exact cost can vary significantly depending on several factors. These include the location of the rental property, the value of your personal belongings, the coverage limits, and any additional coverage options you may choose.

Average Colorado Renters Insurance Costs – By City

Where you live in Colorado can have a significant impact on the cost of renters insurance.

Here’s a table showing the average cost of renters insurance in 10 major cities in Colorado:

What Factors Affect The Price Of Renters Insurance In Colorado?

Several factors influence the cost of renters insurance in Colorado. Understanding these can help you manage your premium:

• Location: Areas prone to natural disasters including tornados, hail damage, lightning strikes, and winter storms might see higher costs.
• Value of Personal Belongings: The more valuable your possessions, the higher your coverage limits and premiums.
• Deductible: A higher deductible can lower your monthly premium but increase out-of-pocket costs.
• Claim History: A history of claims may increase your rates.
• Rental Property Type: Apartments may cost less to insure than houses.
• Safety Features: Smoke detectors, security systems, and deadbolts may lower premiums. This is especially true if you live in areas of the Denver metro area like Glendale with the highest rates of crime.

Is Renters Insurance Required In Colorado?

No, renters insurance is not legally required in Colorado, but many landlords or property management companies may require tenants to have a policy in place. While the law does not mandate renters insurance, landlords often include this requirement in the lease agreement as a way to protect both the tenant and the property owner.

For tenants, having renters insurance is a wise decision, even if it’s not required by law. According to the Colorado Division of Insurance, it helps safeguard personal property, which may be costly to replace out-of-pocket. Furthermore, renters insurance may provide coverage for temporary living expenses if the rental unit becomes uninhabitable due to a covered event.

While not mandatory, renters insurance can provide peace of mind and financial protection. It’s important to review the lease agreement and check with the landlord to see if it’s a requirement, as failure to comply could result in penalties or lease termination.

Common Renters Insurance Discounts In Colorado

Renters insurance providers in Colorado offer various discounts that can reduce your premiums:

• Bundling Policies: Combining auto and renters insurance with the same company can lead to savings.
• Security Features: Installing security systems or smoke alarms can result in discounts.
• Claim-Free Discounts: If you haven’t filed claims in several years, you may qualify for lower rates.
• Property Age: Newer, well-maintained homes may qualify for discounts.
• Loyalty Discounts: Long-term customers may receive reduced rates over time.

Common Renters Insurance Claims In Colorado

The most common renters insurance claims in Colorado include damage from natural disasters,  particularly hail damage during hail season, lightning strikes, and tornadoes. Within the Denver metro area and cities like Sheridan and Lone Tree, high crime rates including theft and vandalism are among the most reported claims.

Water damage, often caused by burst pipes or appliance malfunctions, is also a common claim. Fire and smoke damage, as well as vandalism, are other typical claims that renters in Colorado may experience.

Does Renters Insurance In Colorado Cover Hail?

Colorado’s Front Range is known as “Hail Alley” for a reason; the hail season runs from April until August causing billions of dollars in damage so far.

That said, most standard rental insurance policies in Colorado will cover hail damage to personal items inside your rental property, furniture, or electronics. Hail is typically listed as a named peril under your policy.

Does Renters Insurance In Colorado Cover Tornadoes?

On average, Colorado experiences 53 tornadoes each year, 95% of which occur along the east side of I-25 due to atmospheric conditions. Weld County is considered the “Tornado Capital” of the United States because of these frequent tornadoes.

So if you rent in these areas, it is essential to have coverage.

Thankfully, renters insurance generally covers tornado damage in Colorado. Tornadoes are typically considered wind-related incidents, and most renters insurance policies include coverage for damage caused by windstorms. If a tornado damages personal property or the rental unit itself, renters insurance will typically cover repair or replacement costs.

However, it’s important to review your policy to ensure that the specific coverage for wind and tornado damage is included. Additional coverage may be needed for high-value items, depending on the policy.

Does Renters Insurance In Colorado Cover Flooding?

Renters insurance in Colorado does not cover flooding caused by heavy rains, storm surges, or rising water. Flooding is considered a separate peril, and standard renters policies exclude this type of damage. To protect against flooding, renters in Colorado must purchase separate flood insurance through the National Flood Insurance Program (NFIP) or private insurers.

Flood insurance will cover damage to personal property and the structure of the rental unit caused by rising water, ensuring comprehensive coverage in flood-prone areas.

Does Renters Insurance In Colorado Cover Lightning Damage?

According to the National Weather Service, Colorado experiences an average of 500,000 lightning strikes that hit the ground each year. This means having protection against lightning-related damage is essential.

That said, yes, renters insurance in Colorado typically covers lightning strikes. Lightning is considered a covered peril so your renters insurance can help with the cost of repairs or replacements in the event that your house is hit by lightning. This can extend to things like damaged electronics which were damaged through a power surge caused by lightning or similar fire-related damage.

Does Renters Insurance In Colorado Cover Wind Damage?

Yes, renters insurance in Colorado generally covers wind damage caused by events such as windstorms, tornadoes, and hail. Wind-related damage to personal belongings, such as furniture, electronics, and clothing, is usually covered under a standard renters policy.

However, damage caused by hurricanes may require additional windstorm coverage or a rider, as hurricanes are considered a separate risk. It’s important to review your policy to confirm that wind damage is included and to consider additional coverage if necessary for extreme weather events.

What Does Renters Insurance Cover In Colorado?

Renters insurance provides essential protection for your belongings and liability, offering financial security in the event of unexpected incidents. Understanding what is covered under a renters insurance policy helps you make informed decisions about your coverage needs. Below, we break down the key components of renters insurance coverage.

Personal Property Coverage

Renters insurance typically covers personal belongings, such as furniture, clothing, electronics, and appliances, in the event of theft, fire, vandalism, or other covered disasters. It helps you replace or repair your possessions up to the policy’s coverage limit.

Liability Coverage

Liability protection is an essential part of renters insurance. It covers legal expenses and medical costs if someone is injured while on your property. For example, if a guest slips and falls in your home, liability coverage can help pay for their medical bills and any legal fees if you are sued.

Severe Weather Coverage

If you live in Hail Alley, or the tornado capital of the United States (Weld County), or anywhere else in the state that experiences severe weather in the form of hail damage from hail season, winter storm damage, tornadoes, and lightning strikes, you can get coverage through a standard renters insurance policy in Colorado.

Additional Living Expenses

If your rental becomes uninhabitable due to a covered incident, such as a fire or storm, renters insurance can cover additional living expenses. This includes the cost of temporary housing, meals, and other expenses while your home is being repaired or replaced.

Medical Payments To Others

This coverage provides small, no-fault medical payments if someone is injured on your property, regardless of who is at fault. It helps cover minor medical expenses without the need for a lawsuit or liability claim.

Loss Of Use Coverage

If you cannot use your rental due to a covered event, loss of use coverage can help with extra costs such as hotel stays and transportation.

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