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Aurora, Colorado Home Insurance Rates

Aurora, CO Home Insurance Rates

Aurora, Colorado Home Insurance Rates
Winter in Aurora, Colorado from https://www.newagere.com/

Known for its outdoor recreation, relaxing atmosphere, cultural food, and artistic exhibits, Aurora, Colorado can really be a great place to buy a home. With its 374,114 residents, it really is a perfect place to start a business or raise a family. However, despite the thriving economy of the city, it’s still facing a lot of theft, break-ins, and weather-related risks. That is why you always have to make sure that you and your home are well-protected by having home insurance. Other than the population increase, Aurora’s demographics on housing have also changed for the better.

  • Owner-occupied housing unit rate – 57.6%
  • Median value of owner-occupied housing units – $231,000
  • Median selected monthly owner costs (with mortgage) – $1,463
  • Median selected monthly owner costs (without a mortgage) – $438

To help you understand the importance of home insurance in Aurora and where to get the best and affordable home insurance premium, we have listed some of the things that you should know: from home insurance rate comparisons, the risks of living in this city, to the most affordable home insurance options that are right for you.

Aurora Home Insurance Comparison

Property risks are always present in every state, whether it be natural disasters or theft, that is why you have to look for the right home insurance for your needs first, before getting a new home in Aurora or if you’re looking for a better home insurance coverage. How’s Aurora measured up compared to the national average? Here’s a breakdown:

  • National average home insurance cost – $1,192 per year
  • National average burglary rate – 4.69 per 1,000 homes
  • National average home value – $188,900

Aurora homeowners pay an average of $147 for their home insurance premium every month and yearly, they are paying $1768, which is higher compared to the national average home insurance cost of $1,192 per year. When it comes to property risks caused by burglaries, Aurora is very close to the national average’ burglary rate of 4.69%. In this city, burglaries occur in 4.63% of 1,000 homes, much higher than Arvada’s burglary rate. This means that break-ins are more frequent in this area so you have to make sure that your home is covered for theft and break-ins. The city’s average home value is $253,400.

Risks in Aurora

The most common claims that Aurora homeowners file is about freezing pipes or plumbing system damages. Winter in this city poses a big risk for property owners since it can cause freezing temperatures that can affect your home’s plumbing system and roadway or property damages. Other than that, winter can also cause damage to your swimming pool, which isn’t covered by home insurance policies. The number of burglaries happening each year in Aurora should be considered as one of the greatest risks also since it’s quite high compared to other cities.

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 that you will be covered from any risks that might happen by choosing the best home insurance company for your needs. Also, make sure to purchase additional coverages for your home insurance policy, especially for risks brought about by the winter season.

Colorado’s Best Home Insurance Companies

State Farm

The largest home insurance provider in Colorado. It doesn’t have a separate hail or wind deductible, which sets them apart from other home insurance companies in Colorado. It can help you save money when making claims; however, the costs will still depend on your situation. The disadvantage is that the company can’t provide a lower deductible for minor losses, such as small fires or theft.

American Family

Its home insurance policy rate for Colorado homeowners is 60% cheaper than USAA and State Farm. Why? Because they will charge more for deductibles. They’re charging deductibles for property loss at $1,000, hail at $1,000, and identity fraud at $250. With added deductibles, your premium might go higher over time, even though the present annual price is cheap.

USAA

Despite the fact that USAA only insures retired and active military personnel and their families, they are still the second-largest home insurance provider in Colorado. Their financial strength is strong, which means they can pay all the claims filed by their customers. They have a 1% deductible for hail and wind, which is about average for home insurance in Colorado. The disadvantage for this company, though, is that they won’t give a lot of details about their home insurance policy up-front and their website doesn’t have a lot of information about their policies either. It’s also a bit expensive compared to Americal Family and State Farm.

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