The Best Cheap Renters Insurance in Colorado (2025)
Lemonade has the cheapest renters insurance quotes in Colorado, at $12 per month.
Compare cheap renters insurance options in Colorado
Best Cheap Renters Insurance in Colorado
To help you find the best renters insurance in Colorado, ValuePenguin editors rated companies based on price, coverage availability and customer service. To find the cheapest rates in CO, our editors collected 200 quotes from eight of the largest renters insurance companies in Colorado.
Cheapest renters insurance in Colorado
Lemonade offers the cheapest renters insurance quotes in Colorado.
A policy from Lemonade costs around $12 per month, which is half the state average.
State Farm also has affordable renters insurance in Colorado, at an average of $13 per month. In addition, State Farm has far fewer customer complaints than Lemonade, making it a better choice for most people.
Compare cheap renters insurance options in Colorado
The average cost of renters insurance in Colorado is $24 per month , or $288 per year.
Renters in Colorado pay $1 per month more for insurance than the national average of $23 per month.
Cheap renters insurance quotes in Colorado
Company | Monthly cost | ||
|---|---|---|---|
| Lemonade | $12 | |
| State Farm | $13 | |
| Farmers | $18 | |
| Progressive | $20 | |
| Assurant | $22 | |
Best CO renters insurance overall: State Farm
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Cost$13/moThis analysis used renters insurance quotes for 25 ZIP codes across Colorado. Full methodology.
Best renters insurance in Colorado for cheap rates: Lemonade
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Cost$12/moThis analysis used renters insurance quotes for 25 ZIP codes across Colorado. Full methodology.
Best customer service for Colorado renters: Amica
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Cost$35/moThis analysis used renters insurance quotes for 25 ZIP codes across Colorado. Full methodology.
Colorado renters insurance rates by city
Denver, Colorado's largest city, has the most expensive renters insurance rates compared to other large Colorado cities.
Renters insurance in Denver costs around $27 per month, which is $3 per month more than the state average.
Castle Rock and Lakewood have the cheapest rates in the state, at $22 per month, on average. Lakewood is a Denver suburb, while Castle Rock is a town between Denver and Colorado Springs.
Average cost of Colorado renters insurance by city
City | Monthly rate | % from average |
|---|---|---|
| Arvada | $23 | -2% |
| Aurora | $23 | -1% |
| Boulder | $23 | -3% |
| Brighton | $24 | 1% |
| Broomfield | $23 | -4% |
How to find the cheapest renters insurance in Colorado
To find the cheapest renters insurance in Colorado, start by figuring out how much coverage you need. Then, compare quotes from multiple companies to find the best rates for you.
Figure out how much coverage you need. The amount of coverage you choose has a major impact on the amount you'll pay for renters insurance. It's important that you have enough coverage to protect you in an emergency. But you also don't want to overpay for coverage you don't need.
Shop around for quotes from multiple companies. In Colorado, there's a $23 per month difference between the cheapest and most expensive renters insurance companies. Choosing the cheapest option could save you $276 per year.
Aside from your coverage levels, insurance companies consider your age, marital status, location and other factors. They may also factor in your insurance history and whether you've made claims in the past. So, the most affordable company for your friends, family or neighbors may not be the cheapest choice for you.
What renters insurance coverage do I need in Colorado?
Colorado renters need protection against numerous natural disasters, including floods, tornadoes, extreme snowstorms and wildfires.
Fortunately, renters insurance typically protects against damage caused by wildfires, wind, tornadoes and heavy snowfall.
However, if you live in an area with a high risk of damage, some companies may not offer coverage for one or all of these types of damage.
It's important to check your policy to make sure you're covered for the most common types of damage in your area. If you're missing an important coverage, like fire protection, you can typically buy a separate policy from an independent agent.
Renters insurance doesn't protect against weather-related flooding, like rising lakewater or snowmelt.
You need to buy a separate flood insurance policy to protect your stuff against flood damage.
Colorado renters insurance trends
Renters insurance prices have gone up 23.0% in Colorado over the last six years.
Renters insurance prices, on average, have steadily increased from 2020 to 2022, but jumped up 14.3% between 2023 and 2024.
Among the major CO insurers, the biggest increases have been at Travelers (56.8%), Chubb (45.5%) and American Family Insurance (39.7%).
Renters insurance rate change data was compiled using RateWatch from S&P Global, which uses information from the National Association of Insurance Commissioners (NAIC).
Frequently asked questions
What is the average cost of renters insurance in Colorado?
Renters in Colorado pay $24 per month, on average. That's $1 per month more than the average cost nationally.
Who has the cheapest renters insurance in Colorado?
Lemonade has the cheapest renters insurance in Colorado. A policy costs $12 per month, or $144 per year, on average.
How much is renters insurance in Colorado Springs?
Renters in Colorado Springs pay an average of $24 per month for insurance. That's the same as the Colorado state average. In comparison, Denver renters insurance costs an average of $25 per month.
Is renters insurance required in Colorado?
There's no state law in Colorado requiring you to buy renters insurance. However, your landlord or property management company can require you to have coverage as a part of your lease agreement.
Methodology
To find the cheapest renters insurance in Colorado, ValuePenguin gathered 200 quotes from addresses in 25 of the state's largest cities. Rates are for a 30-year-old woman living alone with no prior renters insurance claims.
Quotes include the following limits:
- Personal property: $30,000
- Personal liability: $100,000
- Medical payments: $1,000
- Loss of use coverage: $9,000
- Deductible: $500
Customer service ratings are 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.
About the Author
Senior Writer
Lindsay Bishop is a Senior Writer at ValuePenguin, where she educates readers about home, auto, renters, flood and motorcycle insurance.
Lindsay began her career in the insurance and financial industry in 2010. She was a licensed auto, home, life and health insurance agent and held Series 6 and 63 financial licenses.
After a hiatus from the financial sector, Lindsay returned to the industry as a content writer for ValuePenguin in 2021. She enjoys having the opportunity to help readers make smart decisions about their insurance so they can be prepared for anything life throws their way.
When Lindsay isn't writing about insurance, you can find her spending time with family, enjoying the outdoors on Sunday long runs or riding her Peloton.
How insurance helped Lindsay
As a homeowner for 15 years located in South Carolina, Lindsay has plenty of experience navigating the coastal insurance market and managing the claims process. That includes successfully negotiating a full roof replacement claim.
Expertise
- Home insurance
- Car insurance
- Flood insurance
- Renters insurance
- Motorcycle insurance
Referenced by
- CNBC
- Yahoo Finance
- Miami Herald
Education
- BS/BA Economics, University of Nevada Las Vegas
Editorial Note: The content of this article is based on the author’s opinions and recommendations alone. It has not been previewed, commissioned or otherwise endorsed by any of our network partners.
