Your Guide to Buying Home Insurance in Colorado for Less


As winter fades away and spring emerges, Coloradans prepare to move. The annual migration for The Centennial State occurs late spring through early summer each year, which means if you’re getting ready to start a new chapter, you’re going to need to make sure you have the right plan in place for buying home insurance coverage for your new home.

Having to buy homeowners insurance in Colorado isn’t mandatory but it is virtually necessary. This is because for most homeowners, restoring or rebuilding a home that has suffered from major damage due to perils is financially impossible. Furthermore, even if you can afford to, it’s still a sizeable financial commitment that is unnecessary.

If you’re moving this year, it’s a great idea to brush up on how to purchase the right home insurance for your new home and save in the process. Our guide to buying home insurance in Colorado will help you get the right coverage at the lowest price. Below, we’ll explore tips and tricks to set you up for success.


Buying Home Insurance for the First Time in Colorado? Here Are the Secrets To Save

As a homeowner in Colorado, it’s important to cut costs when buying home insurance coverage. Your home is both your sanctuary and investment and protecting it should be a priority. However, there are several factors that affect the cost of your policy such as your coverage needs, individual risk factors, and home characteristics. Nevertheless, there are simple steps you can take to reduce your home insurance expenses.

To start, it’s essential to compare rates from different insurance providers since each brand evaluates risks differently. This way, you can choose the best company that fits your specific requirements. You can also bundle your home insurance policy with your auto insurance policy to receive discounts.

Additionally, you can increase your deductible, which lowers your monthly premium. Lastly, installing safety improvements such as hurricane-grade shutters, security systems, or fire alarm systems with sprinklers can reduce your insurance costs and keep your home protected.

Since Colorado has one of the highest home insurance rates in the country, it’s crucial for homeowners to take advantage of these cost-saving measures. By shopping around and taking preventive steps, you can protect your home while getting the best value for your insurance.


First-Time Home Buyer Insurance Coverages To Be Aware Of

When you buy homeowners insurance for the first time, or even for those who need a refresher, it’s important to understand that not everything is covered by your policy. Many weather events are protected by your coverage, but there are several unpredictable weather conditions that residents of The Centennial State face, which aren’t covered.

Colorado experiences extreme weather events, making it crucial for homeowners to have adequate protection against natural disasters. Fortunately, a comprehensive home insurance policy can provide coverage for most weather-related perils. But knowing what isn’t covered is also important, to help best understand your risks.

The best home insurance for first-time buyers in CO is going to operate the same as for any other. You’ll receive the right level of coverage for the lowest price. However, without understanding what isn’t covered, you may be left with inadequate coverage. Below, let’s review weather events you’ll need to be aware of.


Windstorms and Tornadoes

Windstorms are common in Colorado, and while you are unlikely to experience hurricanes, tornadoes are still in play for the Rocky Mountains. In most cases, a standard home insurance policy (HO3 policy) is going to protect you, but you’re still going to want to make sure, as wind damage can cost $11,096 on average due to storm damage.


Hail Storm Damage

Hail damage is the most common claim filed for homeowners in Colorado and often one of the costliest. Roof damage and other related issues can lead to water damage and other forms of damage, further disrupting your life. Fortunately, standard home insurance policies can help mitigate any losses resulting from hail storms and restore your home to its pre-damage state as quickly as possible. But it’s always important to double-check what your specific coverage does when buying home insurance in CO.


Volcanic Eruption

Volcanoes are very low on the list of things to worry about for the majority of Colorado. However, for the city of Dotsero, while the chances are low, they are still a factor. Fortunately, standard coverage for your home will protect your home against such perils, but hopefully, the active volcano will continue its 4,200+ year streak of not erupting.


Buying Home Insurance for the First Time? Additional Coverages Coloradans Should Consider

When buying home insurance in Colorado, there are many perils that are covered, but not everything is included. You’ll want to prepare, however, because such events can still cost you a fortune to repair or rebuild your home.

The good news is that there are additional coverage options available that can help you protect your home and your finances in the process. From supplementing your existing coverage to helping you in unique ways, additional coverages exist. Here are perils you’ll want to keep an eye on that aren’t covered by home insurance coverage:



Colorado continues to see flooding become more and more of an issue for its residents. There are many reasons contributing to this issue, including shifts and increases in population, wildfires harming the natural flow of things, and shifting rain patterns.

Many believe that homeowners insurance will cover them for flooding, but this isn’t so. Flood insurance in Colorado exists to help you protect against this peril and you will need a separate policy to successfully submit a claim.

Even if you don’t live in an area that traditionally is affected by flooding, landscapes change and risks evolve over time. Today, as much as 25% of all flood claims come from areas that are not deemed “high risk” and this can mean several thousands of dollars in damages if you are not prepared.

When working with a licensed insurance agent, you can compare coverage from the government as well as private companies to compare all of your options and identify the best coverage at the lowest cost for you.

The right flood insurance coverage will help complement your homeowners coverage by protecting your home, personal property, and finances in the aftermath of a flood event.


Earth Movement

Don’t expect to find various earth movement perils covered by your home insurance policy. You can gain protection from riders/endorsements, but if you are looking to protect against earthquakes, landslides, and sinkholes, you can’t with a standard homeowners insurance policy alone.

Not every region worries about this peril as much as residents of Coloradan, but landslides in particular, continue to be a threat to homes. They are too unpredictable for companies to include in coverage, yet protection is still worth extra consideration.

The Colorado Geological Survey will map and inventory areas that are at the highest risk of suffering from landslides. Particularly if your home is located within one of these areas, affordable coverage is available and can help you from major financial hurdles down the line.


Sewage Backup

Having your sewer backed up is gross and expensive. It’s not a place where any homeowner wishes to find themselves, especially when it comes to having to fix the issue out of pocket, as it can be quite costly. Your homeowners coverage won’t help you here, but there are riders or endorsements, depending on your insurance carrier, that provide protection from such losses.


Umbrella Coverage

Home insurance policies have limitations, confining your protection. In the event of a liability dispute, should the costs of your claim go beyond the limits of your policy, you will be accountable for paying the remaining expenses from your own pocket.

This can be financially catastrophic, especially if you have a substantial amount of assets to safeguard. Umbrella insurance is an added type of coverage that provides an extra layer of protection for claims that go beyond the boundaries of your home insurance coverage.

It can help secure your assets in case of a costly liability claim, such as a lawsuit due to a car accident or a slip and fall on your property. Umbrella insurance is intended to come into play when your primary insurance policy limits have been depleted, offering additional coverage up to the limits specified in your policy.

The need for umbrella insurance is especially crucial for people with significant assets as they have more to lose in case of a liability claim. Nonetheless, even those with more modest assets can benefit from the extra protection provided by an umbrella policy.

In today’s society, lawsuits are increasingly prevalent, and they can lead to massive legal expenses and damages. Umbrella insurance can help mitigate these risks and provide peace of mind.

When buying home insurance in Colorado, umbrella insurance is an important consideration, but for the best results, you’ll want to collaborate with an insurance expert who can assist you in determining the appropriate coverage limits based on your particular circumstances.

While it may require an additional premium, the protection provided by umbrella insurance is frequently well worth the cost in the event of a catastrophic liability claim.


Review Your Coverage After You Buy Property Insurance in CO

If you’re a seasoned home buyer, you may be used to the process of buying home insurance in Colorado and maintaining your same coverage with the same carrier. But it’s important to review your home insurance policy when moving to a new house.

There are several reasons for this, but primarily, because of the varying rates for each unique home due to the unique features that accompany each property. It’s important to find the insurance provider that offers the lowest rate for your new residence, even if it’s a comparable home in the same neighborhood. Every home is different as are its premiums.

If you’re upgrading or downsizing, it’s important to make sure you have enough insurance to restore your home after a major loss, such as a fire, or to avoid paying too much for coverage you’ll never use.

Additionally, the cost of materials and labor continues to rise, and your policy limits may be out of date without review. Moving provides the perfect opportunity to take a step back, reflect, and find the best coverage option for your new home going forward.

Saving money is the common goal of reviewing your home insurance policy, and taking the time to do so can result in hundreds, if not thousands of dollars, saved. Home insurance policies in CO protect against liability, including property damage caused by a member of your household or injury to a visitor on your property.

However, it’s important to remember that injuries to members of your household are not covered, and health insurance is necessary to protect against such expenses.

While appliances may be covered by your home insurance policy depending on the perils affecting them, general wear and tear is usually not covered. Home warranties and general maintenance can help avoid damage and keep your house in working order for years to come.

Going over your policy with your insurance agent and planning with the right protections in place can help you avoid coverage gaps and misunderstandings. If you’re looking to move, buying home insurance is important, and we’re here to help you save with coverage from top-rated carriers.


How To Save Money Buying Home Insurance in Colorado


As you can see, there are a lot of considerations that go into buying homeowners insurance, but Freedom Insurance Group can help you every step of the way. We work with a variety of top-rated insurance companies that allow us to provide more to our clients. Here’s how:

  • By partnering with multiple carriers, we can compare your coverage needs among more brands and identify the best option for you that saves you money.
  • This includes finding more discounts and bundling opportunities, such as with your auto insurance.
  • Additionally, when it comes to additional coverage options, you’ll receive more options for a more personal approach to your protection.

At the end of the day, our team of licensed agents is here for you. We work to not only compare your coverage but deliver next-level customer service, to ensure that you are saving and protected today and tomorrow. If you’re buying home insurance in Colorado, give us a call, or get a free home insurance quote with our easy-to-use online tool.


Contact Us

Freedom Insurance Group
3861 Long Prairie Rd Ste 110
Flower Mound, TX 75028
Phone: (972) 798-3769


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