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Homeowners Insurance Quick Links

Did You Know?

Colorado is in the
top 10 states with catastrophe-related homeowners insurance claims.

Cost of Homeowners Insurance

Rates vary according to how likely it is a claim will be filed and how much it will likely cost. For example, a homeowner living in a wildfire-prone area would pay a higher insurance rate than a homeowner living in a low risk area.

How your insurance rates are set also depends in part on which state you live in, because rates are regulated on a state-by-state basis. The insurer has to follow the regulations of the state you live in. For more information on insurance rating and regulation, click here.

The National Association of Insurance Commissioners (NAIC) released in December 2023 the latest reportDwelling Fire, Homeowners Owner-Occupied, and Homeowners Tenant and Condominium/Cooperative Unit Owner’s Insurance Report: Data for 2021

Data from this report shows Colorado is ranked as the sixth highest for average premium for the HO-3 policy form (as of 2021). 

Top states:

  1. $2437 – Florida
  2. $2259 – Louisiana 
  3. $2155 – Oklahoma 
  4. $2146 – Texas 
  5. $1900 – Rhode Island
  6. $1802 – Colorado 

Over a 10-year period, the average change in homeowners premium in Colorado was +73.6%, the second highest increase of all states, behind Wyoming. However, when compared to the NAIC’s report on profitability, this increase in premium has been adequate to return insurers to underwriting profitability, and this is prior to the full impact of recent spikes in inflation and the cost of capital (i.e., reinsurance).

Click on your state below to contact your state insurance department.

Colorado | New Mexico | Utah | Wyoming

Cost of Homeowners Insurance by State

The following chart is based on the latest data from the NAIC on 2021 premiums.

State 2021 Average Premium 2021 Rank
Alabama $1,610 12
Alaska $1,067 35
Arizona $917 46
Arkansas $1,611 11
California $1,403 20
Colorado $1,802 6
Connecticut $1,651 10
Delaware $988 44
D.C. $1,272 25
Florida $2,437 1
Georgia $1,466 16
Hawaii $1,299 24
Idaho $884 47
Illinois $1,223 31
Indiana $1,058 36
Iowa $1,043 37
Kansas $1,491 14
Kentucky $1,232 29
Louisiana $2,259 2
Maine $996 42
Maryland $1,238 28
Massachusetts $1,712 8
Michigan $993 43
Minnesota $1,607 13
Mississippi $1,766 7
Missouri $1,340 22
Montana $1,471 15
Nebraska $1,684 9
Nevada $863 48
New Hampshire $1,090 34
New Jersey $1,309 23
New Mexico $1,229 30
New York $1,455 17
North Carolina $1,192 33
North Dakota $1,256 27
Ohio $920 45
Oklahoma $2,155 3
Oregon $793 50
Pennsylvania $1,014 40
Rhode Island $1,900 5
South Carolina $1,432 18
South Dakota $1,270 26
Tennessee $1,368 21
Texas $2,146 4
Utah $8311 49
Vermont $1,025 38
Virginia $1,199 32
Washington $1,001 41
West Virginia $1,016 39
Wisconsin $780 51
Wyoming $1,432 19
United States $1,411 N/A

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