The Best Cheap Renters Insurance in Colorado
Lemonade has the cheapest renters insurance quotes in Colorado — a policy costs $8 per month, on average.
Compare cheap renters insurance options in Colorado
Purchasing a renters insurance policy involves deciding which provider brings a balance of affordable prices, practical coverage and dependable customer service. We compiled rate data for some of the largest renters insurance companies in Colorado to help you select the best provider for your needs.
Finding cheap renters insurance in Colorado
Lemonade offers the cheapest renters insurance quotes in Colorado at $97 per year, or $8 per month. That's $69 per year cheaper than the state average and $39 per year less expensive than the second-cheapest insurer we found, State Farm.
The average cost of renters insurance in Colorado is $14 per month, or $166 per year.
Renters in Colorado pay $4 per month less for insurance than the average national cost, which is $215.
Compare Renters Insurance Quotes from Providers in Colorado
State Farm, Nationwide and Allstate also offer cheaper-than-average renters insurance quotes to Colorado tenants.
Cheapest renters insurance companies in Colorado
Company | Monthly cost | |
|---|---|---|
| Lemonade | $8 |
| State Farm | $11 |
| Nationwide | $13 |
| Allstate | $14 |
| Travelers | $16 |
| Farmers | $17 |
| Amica | $18 |
Renters insurance quotes are influenced by a range of factors, usually based on your personal circumstances. The amount of coverage you choose determines a significant part of your insurance cost.
Aside from your coverage levels, your quotes can be influenced by your age, marital status, location and other factors. Insurance companies also consider your insurance history — whether you've made claims in the past and what kinds of claims you made.
Best renters insurance for most people: Lemonade
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Editor rating
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Average monthly rate
$8 ?
Pros and cons
Colorado renters can find the most affordable rates with Lemonade. A policy costs $8 per month, or $97 per year — 42% cheaper than the state average.
Lemonade renters insurance is a great option for convenience-minded shoppers. Using Lemonade's online quote form, you can request a quote, receive coverage and finalize your payment in under 10 minutes. Its claims process is equally as fast — simple claims are often paid within a few minutes.
Unfortunately, Lemonade receives more complaints than average for its size, according to the National Association of Insurance Commissioners (NAIC).
On the other hand, the company earned the second-best score on J.D. Power's annual customer satisfaction survey. Also, the company's financial strength is well regarded by the credit analysts Demotech — you probably won't have to worry about its ability to pay claims, even in difficult economic times.
Best customer service: State Farm
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Editor rating
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Average monthly rate
$11 ?
Pros and cons
State Farm renters insurance provides the best customer service in Colorado. Its prices are also more affordable than many competitors. At $11 per month, or $136 per year, State Farm is 30% cheaper than the state's average.
Renters in Colorado are generally satisfied with the service they receive from State Farm. The company was awarded the third-highest score on J.D. Power's annual customer satisfaction survey. Additionally, State Farm receives fewer complaints than competitors of a similar size, according to the NAIC.
While State Farm provides the standard coverage options you would expect from a renters insurance policy, it lacks a wide range of coverage add-ons. Renters who choose State Farm can customize their policies with identity restoration coverage or earthquake coverage, but the company doesn't offer personal property replacement coverage or a water backup protection.
Best renters insurance for military personnel: USAA
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Editor rating
Pros and cons
USAA is the best renters insurance in Colorado for those who can purchase a policy — active duty service members, veterans and their families. Only these people can receive quotes and detailed policy information from the company.
The coverage offered by USAA is unmatched. A standard policy from USAA comes with the coverage typical of most renters insurance plans along with several premium protections for free. USAA renters insurance includes replacement cost coverage, flood and earthquake coverage at no additional cost — usually these coverage options can cost hundreds of dollars extra per year.
USAA also provides excellent customer service to renters in Colorado. The company receives fewer complaints than other insurers based on its size, according to the NAIC. Additionally, J.D. Power awarded USAA renters insurance with the best score in the country for customer satisfaction.
Colorado renters insurance rates: City-by-city breakdowns
Renters in Fort Collins and Grand Junction pay the cheapest rates among Colorado's major cities, while people living in Denver pay the most for insurance coverage.
Renters insurance quotes in Colorado don't vary much from city to city. We gathered rates from 25 of the largest cities across the state and found a $33-per-year difference between the most and least expensive locations.
City | Average annual cost | Difference from state average (%) |
|---|---|---|
| Arvada | $166 | -2% |
| Aurora | $177 | 4% |
| Boulder | $169 | -1% |
| Brighton | $164 | -4% |
| Broomfield | $163 | -4% |
Best renters insurance in Colorado
State Farm and Amica are the best-rated widely available renters insurance companies in Colorado.
Renters are generally happy with the service they receive from Amica and State Farm. Both companies receive fewer customer complaints than expected based on their sizes, according to the NAIC. In addition, both earned excellent editor's ratings from ValuePenguin.
Company |
Rating
|
|---|---|
| USAA | |
| State Farm | |
| Amica | |
| Lemonade | |
| Nationwide | |
| Allstate | |
| Farmers | |
| Travelers |
USAA also provides great service for Colorado renters. However, only active-duty service members, veterans and their families can purchase a policy.
Frequently asked questions
How much is renters insurance in Colorado?
Renters in Colorado pay $14 per month, or $166 per year, on average. That's 23% cheaper than the average cost nationally, which is $215 per year.
Who has the cheapest renters insurance in Colorado?
The cheapest renters insurance in Colorado comes from Lemonade, where a policy costs $8 per month, or $97 per year, on average.
How much is renters insurance in Thornton, Colorado?
Renters in Thornton pay $174 per year for insurance, on average. That's 3% more expensive than the statewide average. However, renters living in neighboring Denver pay $190 per year, which is $16 per year more than Thornton residents.
Methodology
To find the cheapest renters insurance in Colorado, we obtained over 150 quotes from addresses in 25 of the state's largest cities. The sample renter is a 25-year-old male living alone without a history of making insurance claims.
Quotes were based on the following limits:
Coverage | Limit |
|---|---|
| Personal property | $30,000 |
| Personal liability | $100,000 |
| Medical payments | $1,000 |
| Loss of use coverage | $9,000 |
| Deductible | $500 |
Customer service ratings were determined based on data from the National Association of Insurance Commissioners (NAIC) complaint index, J.D. Power annual customer satisfaction survey scores and our own ValuePenguin editor's ratings.