Homeowners need protection in the form of HO-3 insurance to protect their investment. This type of insurance applies to private land, the house, and the things inside of the house. Some medical payments and liability are also covered by HO-3 insurance. Think of an HO-3 as a type of liability and damage coverage.
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Boulder, Colorado Home Insurance
You should expect the average cost of home insurance in Colorado, in the city of Boulder to reach $1,677.52. Despite it being average, this may be too much for families on a budget. There are plenty of budget-friendly HO-3 premiums to choose from. By doing a bit of research, it is easy to find below-average HO-3 premiums.
For a more budget-friendly homeowners policy, scroll the list below:
List of Companies & Rates for HO-3 Coverage in Boulder, CO
|Horace Mann Property||$1,310.00|
|Colorado Farm Bureau||$1,362.00|
|Twin City Fire||$1,640.00|
|Foremost Grand Rapids, Michigan||$1,972.00|
|Farmers Insurance Exchange||$2,600.00|
Boulder Condo Insurance
Owning a condominium or shared housing requires an HO-6 premium. This type of insurance covers property within your home. It also includes some medical payments and additional liability damages. Having an HO-6 premium is required for most owners of a condominium or shared housing. This protects the owner’s assets and any guests in case of an accident.
In Boulder, CO, the price of an HO-6 premium is $435.59. This is within the normal range for this type of insurance. Some homeowners want a cheaper premium due to fewer assets or a lesser need for an expensive premium. There are plenty of premiums that run cheaper than the HO-6 average.
These are some of the cheaper premiums for condo insurance:
List of Companies & Rates for HO-6 Coverage in Boulder, CO
|Colorado Farm Bureau||$236|
|Farmers Insurance Exchange||$270|
|Twin City Fire||$311|
|Foremost Grand Rapids, Michigan||$477|
|American Bankers Florida||$572|
Boulder Renters Insurance
Renters insurance is an essential part of protecting your property. Despite not owning the landlord’s property, there are still things inside of your rented home that needs to be covered. Without renters insurance, it is possible to lose your possesions to a fire or other major accidents. Be sure that your HO-4 premium covers all of your assets within your rental.
Because most people own a set amount of assets, some renters may not need a high premium. To save money on your HO-4 premium, go for the rate that matches your assets. It does not make sense to have $50,000 worth of coverage for only $5,000 worth of assets. The average price of renters insurance in Boulder is $258.89. However, there are tons of cheaper options for those with fewer assets.
Look into some cheaper renters coverage down below:
List of Companies & Rates for HO-4 Coverage in Boulder, CO
|Farmers Insurance Exchange||$159|
|Colorado Farm Bureau||$183|
|Twin City Fire||$199|
|American Bankers Florida||$300|
|Foremost Grand Rapids, Michigan||$384|
|American Family Home||$417|
Despite the cost of living sitting below average, the price of a condo in Boulder is very high. Detached houses average at over $1 million. This may be too high for potential homeowners on a budget. Homeowners moving to Boulder should be ready to afford sky-high housing, and below-average income may not make homeownership possible.
Source: All of the pricing and statistics were taken from https://www.colorado.gov/dora/division-insurance. We tried to record the information as accurately as possible, but pricing is subject to change over time. Be sure to visit the website for the most up-to-date information.