Different types of home insurance premiums depend on the nature of the home. Many homeowners with their own land and personal property need a homeowners insurance policy called an HO-3. An HO-3 premium covers private property and the structure of their home. It also covers the furniture and appliances on the inside. In many cases, an HO-3 also covers medical payments.
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Durango, Colorado Homeowners Insurance
Expect home insurance in Colorado in the city of Durango to cost an average of $1,097.27. This average is on the lower end for private insurance. However, lower-income families may need an even cheaper HO-3 premium. There are plenty of options cheaper than the average, and it is one of the best ways to save money as a homeowner.
Take a look at some cheaper coverage options for your home down below:
List of Companies & Rates for HO-3 Coverage in Durango, CO
|Farmers Insurance Exchange||$658|
|Horace Mann Property||$913|
|Twin City Fire||$925|
|Colorado Farm Bureau||$952|
|Foremost Grand Rapids, Michigan||$1,589|
Durango Condo Insurance
Not all homeowners live on private property. Many homeowners share property or a condominium with other homeowners. In this case, HO-3 insurance is not the way to go. The homeowner would have to get an HO-6 policy instead. An HO-6 policy covers shared property in the event of a property-wide accident. Because accidents are more likely in shared housing, HO-6 insurance is absolutely necessary.
Condo insurance in Durango reaches an average of $423.28. This type of rate is expected for a typical HO-6 premium. There are more budget-friendly options for low-income families, however. Plenty of companies charge below-average rates for an HO-6 premium.
Take a look at some cheaper rates for condo insurance here:
- Hartford – $317
- Grange Insurance – $243
- ANPAC – $202
- Economy Premier – $200
List of Companies & Rates for HO-6 Coverage in Durango, CO
|Colorado Farm Bureau||$239|
|Farmers Insurance Exchange||$293|
|Foremost Grand Rapids, Michigan||$310|
|Twin City Fire||$317|
|American Bankers Florida||$686|
Durango Renters Insurance
Even if they do not own the property, renters still need insurance. This keeps their property inside of the rented home safe from any serious accidents. It is still possible to lose everything you have, even if you rent. The point of renters insurance is to keep your personal assets accounted for.
A renter living in Durango should expect to pay an average of $275.09 for an HO-4 policy. This average is a bit higher than normal, but there are quite a few cheaper options. If you are on a budget or just need to save money, then a cheaper company with a lower premium is the way to go.
Here are some more budget-friendly options for those in need of a renters policy:
- Owners Insurance – $238
- American Strategic – $203
- Colorado Farm Bureau – $187
- ANGIC – $143
List of Companies & Rates for HO-4 Coverage in Durango, CO
|Farmers Insurance Exchange||$155|
|Colorado Farm Bureau||$187|
|Twin City Fire||$203|
|Foremost Grand Rapids, Michigan||$255|
|American Bankers Florida||$300|
|American Family Home||$417|
Durango is a smaller city with some rural areas. If you are still set on saving money, then rural areas are typically cheaper than urban areas. Because it is a smaller city, it may be a more comfortable area for people who prefer less dense populations.
Despite being so small, Durango is a rapidly growing city. Since 2000, the city has grown 33 percent in population. As it grows in popularity, Durango may end up being an innovative part of Colorado’s growing cities.
Source: All of these numbers were taken from the Colorado Government Insurance Department’s official site. Like most averages, expect these numbers to change over time. They were written as accurately possible at the time of recording.