Arvada is the 7th largest city in Colorado, which is located in Adams and Jefferson counties. It’s serviced by Colorado State Highway 58 and is accessible to the interstate highways. Golden, Lakewood, and Westminster are the communities that surround Arvada. It offers a variety of cultural and artistic options and has over 3,000 acres of trails and parks. If you’re a fan of vintage and rare vehicles, Cussler Museum that’s filled with vintage cars is in Arvada. They also have the Arvada Center for the Arts and Humanities that provides numerous cultural performances and events such as concerts, musicals, contemporary and classical dance performances.
Arvada’s population has changed. From 106,433 in 2010, it has increased by about 12.9% after 8 years. This means that a lot of homeowners have considered moving to Arvada. Here’s more information about Arvada’s demographics on housing from 2013 to 2017:
- Owner-occupied housing unit rate – 73.4%
- Median value of owner-occupied housing units – $312,500
- Median selected monthly owner costs (with mortgage) – $1,683
- Median selected monthly owner costs (without a mortgage) – $463
Table of Contents
- 1 Arvada, Colorado Homeowners Insurance
- 2 List of Companies & Rates for HO-3 Coverage in Arvada, CO
- 3 Arvada Condo Insurance
- 4 List of Companies & Rates for HO-6 Coverage in Arvada, CO
- 5 Arvada Renters Insurance
- 6 Risks in Arvada
- 7 Arvada’s Affordable Options
- 8 Census
Arvada, Colorado Homeowners Insurance
An HO-3 homeowners premium covers replacements in the event of an accident. This type of premium covers every bit of the home, including its construction, physical property, and anything inside of the home. In some cases, medical expenses for home-related accidents are covered as well. Think of an HO-3 as a type of liability and damage coverage.
Expect to pay $1,892.20 for the average HO-3 premium in Arvada, Colorado. This average is on the higher side, but homeowners on a budget can find plenty of cheaper HO-3 premiums. As long as the cheaper homeowners insurance covers the homeowner’s property, it is a good option.
These are some cheaper options for an HO-3 premium:
- American Strategic – $1,722
- Mountain Valley – $1,260
- Pharmacists – $1,218
- United Fire – $916
- Grange Insurance – $885
List of Companies & Rates for HO-3 Coverage in Arvada, CO
|Horace Mann Propert||$1,683|
|Colorado Farm Bureau||$1,915|
|Foremost Grand Rapids, Michigan||$1,972|
|Twin City Fire||$2,158|
|Farmers Insurance Exchange||$3,374|
Arvada Condo Insurance
Expect an HO-6 premium to cover your assets inside of your condominium or shared property. The chance of an accident in shared property is increased. If you own expensive furniture or appliances, use an HO-6 to cover that personal property. This gives you peace of mind in case of a fire or another serious accident in your home.
The average cost of an HO-6 premium in Arvada is $456.09. Also, most premiums come with a deductible. Be sure that the deductible is affordable, or you may be unable to pay to recover your old property. A higher deductible means less on your insurance premium, but it has to be affordable. To avoid losing all of your property, go for a generally cheaper insurance premium.
Browse some of the cheaper-than-average insurance options down below:
List of Companies & Rates for HO-6 Coverage in Arvada, CO
|Colorado Farm Bureau||$236|
|Farmers Insurance Exchange||$351|
|Twin City Fire||$360|
|Foremost Grand Rapids, Michigan||$477|
|American Bankers Florida||$606|
Arvada Renters Insurance
Every renter in Arvada, Colorado should get some type of renters insurance. This type of insurance protects the renter from losing their assets, and it covers some types of medical payments. Having any type of personal property makes an HO-4 policy important. A typical renters insurance policy includes personal liability coverage, property coverage, and medical payments.
The average cost of renters insurance in Arvada reaches around $268.13. This may be too much for lower-income renters. Owning the bare minimum of assets or having fewer guests makes a high HO-4 premium unnecessary. There are a few options for a below-average premium.
Here are a few below-average options for lower-income renters:
- Pacific – $230
- Twin City – $226
- Vigilant – $221
- Homesite – $185
- 360 – $134
|Colorado Farm Bureau||$183|
|Farmers Insurance Exchange||$196|
|Twin City Fire||$226|
|American Bankers Florida||$300|
|Foremost Grand Rapids, Michigan||$384|
|American Family Home||$417|
Risks in Arvada
Colorado’s biggest risks when it comes to homes are hailstorm and wildfire. Although wildfires don’t usually occur in Arvada, it’s always important that you’re ready with anything. Hailstorms can do big damage to your home, especially on your roof, which can lead to homeowners insurance policy cancellation. That’s why you should look for and choose the best home insurance company so your home will be well-protected from any risks.
Colorado’s Number of Natural Disasters
- Number of tornadoes – 52
- Property damage amount – $215,290,000
- Number of disasters – 343
- Each year, 1 out of 15 insured homes files a claim because of natural disasters
Make sure to purchase additional coverage for your home insurance policy, especially for weather-related risks because most of the claims filed by Colorado residents are caused by these risks.
Arvada’s Affordable Options
Here are some of the most affordable home insurance companies in Arvada, together with their pros, cons, and the rate of their homeowner policy premiums.
Privilege Underwriters Reciprocal Exchange (PURE)
PURE is a member-owned company, which means their company’s structure is similar to mutual insurance firms. They have a High-Value Home Insurance package designed for homeowners that have above-average homes in both value and construction. It includes features not usually seen in most standard policies. The average rate of their homeowner policy premium is at $692, which is quite affordable compared to other insurers in Arvada. They don’t offer online claims reporting, which is not ideal for tech-savvy homeowners.
This is the most affordable home insurance premium on the list. Their rate is averaged at $474. Their policies are available to homes that do not meet the standard home insurance company requirements but still meet a specific standard for care and condition. They accept the lower value and older homes, as well as multi-family and single residences. Just like PURE, they don’t provide online quoting. However, their customer service is available 24/7 via phone..
Grange has two home insurance programs: the HomePak Plus, which is a standard home insurance program that includes full replacement cost for the home with 25% additional on top of the calculated cost and the HomePak Premier program that has an even higher level of coverage of up to 150% replacement cost coverage. These policies are perfect for Arvada homeowners that want more extra coverage for an affordable price. Their home insurance premium is average at $799. Online quoting is also not available for Grange; however, they are offering basic online claim form to start the claim filing.
If you’re planning to buy multiple home insurance coverage in just one company and looking for in-person customer support, Travelers can be a great choice for you. They are one of the most well-known insurance companies, not just in Arvada but in the whole United States. They offer home insurance premiums averaging at $1,379 for Arvada homeowners. They are also more modern when it comes to their customer service, online quoting, and other services compared to the insurers in this list.
Pick the most affordable and comprehensive home insurance policy and make sure your home is well-protected from crimes, disasters, and other risks that might damage it.
The population of Arvada, Colorado gradually rises each year. As of 2017, the city had a population of over 118,000. The population is a bit older at around 39 years, and it is a place for higher-earning families. The average family earns a higher amount than the Colorado average, making Arvada a costlier city to live in.
Keep the higher cost of housing and rent in mind before moving to Arvada. The cost of living is high, so securing a job before moving to Arvada is dire. Having a car is also important because around 23% of the population commutes outside of the city for work. Only 2.8% of the population is unemployed, so finding a well-paying job may not be too difficult.
The source of these percentages and prices was taken from the Colorado government site. While we made sure to record accurate information, prices and percentages are always subject to change over time. For the most accurate information, be sure to visit the website before making any big decisions.