Colorado has so much going for it right now that some people might think its immune to natural disasters, crime, and fires, but you know that this isn’t the case. Bad things happen every day, but the effects of these events on you don’t need to be long-lasting, especially if you have a renters insurance policy affecting you. Whether it’s the winter weather or wildfires you’re worried about, we looked into the cheapest providers in Colorado for you.
Here are the five cheapest renters insurance providers operating in Colorado:
The Five Cheapest Quotes:
Reviewing insurance forces us to consider averages more than specific situations, so please keep in mind that your situation might not match exactly what you see below. However, we are confident that you will find the best possible outcome by working with one of the firms listed below.
The number listed next to each provider is the average annual rate for a standard policy.
1) State Farm: $132
One of the largest providers in the country and a well-known name in insurance, State Farm was found to be the cheapest in Colorado by a wide margin, further helped by the bundles and discounts offered regularly to their new customers. You can expect a relatively above average level of service for a below average price, which is a tough thing to find anywhere. Users will also benefit from some business property coverage and a high level of electronics coverage.
If you’re in an area prone to flooding or water damage, however, you may want to be careful. Their coverage isn’t as robust or available in these areas as other providers. Additionally, some agents have been reported as not up to standard, so you may need to call around a bit.
You can expect the following working with State Farm:
- An easy and customizable onboarding process.
- An extremely stable and reliable service provider.
- Availability practically anywhere in the state (and the country, for that matter).
2) Farmers: $187
The second option, still very cheap by most standards, is Farmers, which can boast not only its low rate for Colorado residents but also a top-notch customer service team. Normally more expensive in many other states, Farmers customers in Colorado can benefit from not only this advantage but a bevy of customization options which may include additional pet damage protection, a higher level of liability coverage, personal article floaters, and more.
There are a few things that may make you wish to avoid Farmers, however. Most notably are a few low coverages for certain items as well as quite a bit of red tape as reported by a sampling of customers. All of this noted, we still think the good outweighs the bad for most people.
You can expect the following working with Farmers:
- Discounts that might be available to professionals such as medical personnel, teachers, and those working toward public safety.
- The option to change your deductible to something you’re more comfortable with, changing your yearly rate as a result.
- An understanding and responsive customer service team.
3) Allstate: $225
A common, well-known, basic, and inexpensive renters insurance option, Allstate is a great choice for those who want a plan and don’t seek to customize it all too much. Commonly considered a secure option, they are also known for operating practically anywhere, making them a great choice for those living in rural apartments.
The tradeoff may come for some when it comes to customer service, which according to most reports could do with a bit of work. Additionally, they don’t generally offer as wide a range of customization options as the other providers on this list.
You can expect the following working with Allstate:
- A very easy to use service that doesn’t attempt to complicate matters for people who wish to either fulfill a requirement or simply get some insurance and then move on.
- Excellent water damage coverage if you feel you will need it.
- Water damage coverage will be a default part of your policy.
4) Liberty Mutual: $236
Liberty Mutual is a great choice for those who want to have a policy that will have no holes or excessive weaknesses but also aren’t necessarily looking to pay a premium price for renters insurance. They’re an even better option for those people in organizations who are partnered with Liberty Mutual due to the discounts offered.
Yet while you may want to partner with them here, their other services don’t always get those top marks, with many customers disparaging their auto coverage.
You can expect the following working with Liberty Mutual:
- Optional coverage options that include electronics, jewelry, high-ticket items, water damage, and identity theft.
- Excellent online services that will get you the information you need quickly.
- A quick claims and claims receipt process.
5) Nationwide: $319
On average a bit more of a premium option than our other selections, Nationwide makes its price worth it through superior service and plenty of options to make your policy robust and all-encompassing. In fact, they have coverage that goes beyond your immediate apartment, if you have concerns and possessions that extend outside of it. Their customization options go down to the item and item category level, just to provide an example of what they can do for you.
Unfortunately, their default coverage for some categories of items could be a bit better, and they are still more expensive than most other providers. You’ll have to decide whether the additional options are worth it.
You can expect the following working with Nationwide:
- Bundles that can lower your rate and discounts for some people and often for those who are willing to install safety devices in their home.
- Free annual assessments in order to determine if you are getting the best possible rate.
- A well-trained and knowledgeable staff.
Colorado is a growing state that has plenty in store for the future, and so should you. Don’t put that future at risk by going without some sort of safety net for yourself. Consider one of the above renters insurance options and look further into what each provider has to offer. It won’t take long, and it can save you a lot of time and pain in the long-term. Be sure to read all the terms and no matter your final decision we wish you the best.