Homeowners insurance in Denver is significantly higher than the national average for comparable properties. It’s important for people planning to buy a home to research rates before choosing a policy. They can find the features they need and several quotes from independent agents representing homeowners insurance companies in Denver, CO.
Urban Factors
Denver homeowners insurance premiums are generally expensive for several reasons. Some zip codes in the metropolitan area have relatively high rates of burglary and vandalism. Other zip codes are characterized by home prices that are much higher than the national average for similar properties. In densely populated cities, construction costs typically are greater than is the case in suburbs and small towns. That increases the replacement cost for a destroyed home.
Wildfire Risk
Historically, Denver was viewed as relatively protected from severe weather incidents and natural disasters. That’s changed, though, particularly in regard to wildfires. Insurance underwriters must adjust premiums with the increased risk of wildfires in certain suburbs. For instance, a wildfire between Boulder’s and Denver’s suburbs in December 2021 destroyed nearly 1,000 homes. Agents representing homeowners insurance companies in Denver, CO search for the best premium rates for consumers.
Blizzards
Underwriters also must consider the possibility of the occasional blizzard hitting this city. Significant damage can occur when large amounts of falling snow are driven by strong winds. Roofs might cave in due to the snow’s weight, and trees can fall on roofs.
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