Home Insurance in Colorado

Colorado homeowners have seen unprecedented increases in the cost of home insurance over the last few years, with premiums reaching an average of $2,496 annually for those with a $300,000 dwelling coverage policy. Record-breaking wildfires, costly hailstorms across the state, and a rise in home prices and materials costs have driven this inflation.

Record-breaking wildfires and costly hailstorm damage across Colorado, as well as rising home and material costs, have driven inflation in home insurance. The Marshall Fire, for example, tore through the state in December 2021, destroying more than 1000 homes. The Colorado Hail Alley, stretching from April to September, also causes severe damage to homes in the region each year. 

These perils put your property at risk at any time. It is important to be prepared with a comprehensive home insurance policy, regardless of whether your home is in an urban area or a mountainous region.

Despite the high premiums that come with living in the state, homeowners can still find affordable coverage for their homes. 3R Insurance Agency has made it our sole mission to help Coloradans protect their homes and businesses against unforeseen disasters at the most competitive rates.

We work with some of the top-rated insurers in the state to create customized policies that fit each customer’s unique needs.

Our process to achieving this includes:

1. Assessing your home’s exact value and coverage needs.
2. Comparing rates from a range of top-rated insurers in the area.
3. Helping you understand your coverage options.
4. Making sure you get the most value for your premium dollar.
5. Negotiating the best deals on your behalf.
6. Ensuring you have all the necessary additional coverage for a comprehensive protection plan.
7. Reviewing and updating your plan regularly.
8. Educating you on the changing home insurance regulations in Colorado.
9. Providing proactive advice on protecting your home and valuables.
10. Following up to make sure you’re satisfied with the services we provide. We also help with claims processing and other related services.

By the time we are done, you should have a policy that meets your coverage needs and offers the best protection at a reasonable price.

While you could purchase a policy directly from an insurer, you may be held hostage to their policy limits and prices.

We are an independent Colorado homeowner's insurance agency, meaning that we are able to spot the best deals and policies that work for you from a range of top insurers. We cut the fluff and bring you the most affordable premiums and coverage that match your home's exact value.

Here are 5 reasons why working with an independent Colorado homeowners insurance agency is beneficial:

• We are partners with the best carriers in the state – We are not constrained to one insurance provider, which means we can help you compare and choose from a range of top-rated carriers.
• We understand the specific needs of Colorado homeowners – Our in-depth knowledge of the state's insurance regulations can help you find an affordable plan that meets all your home's needs.
• We have a strong presence in the industry – Our 30+ years of experience in the insurance industry mean that we have access to reliable sources for advice and information about Colorado's home insurance market.
• We always provide personalized service – We take the time to understand your unique circumstances so that we can tailor a policy that fits your budget and coverage needs.
• We offer a one-stop shop for all your home insurance needs – From comparing rates to customizing policies, we have everything Colorado homeowners need to stay protected.

At 3R Insurance Agency, we take pride in our ability to provide personalized service and advice while tailoring unique policies for our customers.

A new 2022 law gives you more benefits if a wildfire completely destroys your Colorado home. These include:

• At least two years of additional living expenses paid by your insurer, with possible 6-month extensions if you face delays in rebuilding.
• Up to three years to submit your rebuilding invoices and receipts after the initial claim payment.
• Flexibility to use your claim funds to rebuild or buy a home in any location.
• A minimum payout of 65% or more of your personal property's policy limit without having to list all your lost items. You can get a total payout if you provide a detailed inventory.

The law is a step in the right direction for protecting homeowners from natural disasters and helping them get back on their feet.

Colorado belongs to Hail Alley and usually faces its worst hailstorms between April and September. Most homeowners’ insurance plans cover the damage caused by hail. This includes not only damage to the roof and siding but also to broken windows, damaged gutters, and other property destruction.

Hail coverage might be included in some standard policies, but you might also have to purchase it separately. If you live in an area with frequent hailstorms, make sure to look for homeowner’s insurance policies that include this coverage.

Colorado homeowners can also invest in hail-resistant roofing materials to get a discount on their premiums. This reduces the risk of hail damage, and your insurance company may reward you with a reduced premium.

Flooding is a real risk in Colorado, especially along the Front Range. To be fully protected against flooding, you must buy a separate flood insurance policy. Most standard homeowners’ policies do not provide coverage for damage caused by flooding.

However, if you live in an area with a high risk of flooding, your insurance company might offer flood coverage as an add-on to your typical policy. It is important to discuss all the options with your insurance provider before making a decision, as this form of coverage can become expensive.

Homeowners in Colorado can rest assured that their insurance policies will cover losses due to theft or vandalism. Standard policies usually cover the cost to repair or replace any stolen items or damage caused by vandalism.



Depending on the specifics of your policy, you might also be eligible to receive reimbursement for additional living expenses if your home is temporarily uninhabitable due to theft or vandalism.

Wildfires, hail and flooding are Colorado's most common home insurance risks. But other potential risks could affect your property, such as mudslides, earthquakes and sinkholes. Many of these are covered under typical policies, but you should always check with your insurer to be sure.



In addition, there are some coverage options that you may want to consider if you live in an area with higher risks of natural disasters. These include higher limits on personal property, additional living expenses and replacement cost coverage.

Homeowners' insurance policies are made up of several different components. These include:

Property Insurance

As mentioned above, Colorado is prone to many natural disasters that can damage your home and property. Property insurance protects the physical structure of your home, including the roof, walls, foundation and any attached structures, such as a garage. It may also cover personal items inside your home, but you must purchase separate coverage for these items.

Liability Insurance

Liability insurance is a key component of your home insurance policy. It protects you from any damage or injury that you may cause to others while on your property. This includes medical expenses and legal fees if someone sues you for damages. It also covers any damage caused by your pets.

Most insurers offer coverage limits of at least $300,000, but you can purchase higher limits to provide additional protection.

Personal Property Coverage

Personal property coverage provides protection for belongings inside your home, such as furniture and electronics. It also covers additional living expenses if you need to stay somewhere else while your home is being repaired. Coverage limits vary by insurer, so it’s important to compare policies to make sure you’re getting the right amount of coverage.

Additional Coverage

You may also want to consider additional coverage options, such as valuable items insurance and identity theft protection. Valuable items insurance covers high-value items like jewelry, artwork, and collectibles. Identity theft protection reimburses you for any expenses incurred from identity theft or fraud.

Once you’ve chosen the right home insurance policy for your needs, there are a few things you can do to lower your premiums. First and foremost, make sure you maintain regular maintenance on your home. This reduces the chances of needing to file a claim and could help you get discounts from your insurer.

You may also want to consider raising your deductible. This will lower your premiums but also means you’ll be responsible for paying more out of pocket in the event of a claim.

You can also: 

• Get discounts for bundling your policies (home, auto, etc.), 
• Install home security systems and smoke alarms to reduce the risk of theft or fire damage,
• Take advantage of new technology such as smart thermostats or water leak detectors.

Finally, shop around and compare policies from different insurers. Prices can vary significantly between companies, so it pays to do your research before committing to any one policy.

OThe team at 3R Insurance Agency is here to help you find the right Colorado homeowners insurance policy for your needs. We’ll take the time to understand your unique situation and provide you with free quotes from multiple insurers. This way, you can compare policies and ensure you’re getting the best coverage at the most competitive price.

Contact us today to get started! We look forward to helping you find the right policy.