Fort Collins is home to a vibrant nightlife scene, diverse cultural attractions, and great recreational opportunities. It is located 60 miles north of Denver airport and is the fourth most populous city in Colorado. No matter what season, this city is always full of activities to do. From world-class whitewater rafting on Cache La Poudre River to exploring restaurants and local breweries, you will never get bored when you move to Fort Collins.
While the city’s population, tourist attraction, and economy are great, a lot of residents are still in need of more affordable home insurance premiums. There’s a variety of different policy types and each one is written for a certain type of dwelling or house when it comes to home insurance in Colorado. The key to having the best property coverage is having the correct policy type.
Based on Colorado’s government quote tool, we were able to determine the average home insurance premiums in Fort Collins. On average, getting a framed house insured with a standard policy in Fort Collins would cost $1,387 a year. It is below Colorado’s annual average home insurance cost of $1,446, meaning on average Fort Collins offers cheaper premiums compared to other cities in the state.
Fort Collins Housing Demographics
In the latest census in 2018, Fort Collins’ population had a 15.9% increase and became 167,830, which means more people are moving to Fort Collins and the economy is growing over the years. Here’s more about the housing demographics in the city.
- Owner-occupied housing unit rate – 54.4%
- Median value of owner-occupied housing units – $308,800
- Median selected monthly owner costs (with mortgage) – $1,603
- Median selected monthly owner costs (without a mortgage) – $445
Fort Collins’ Home Insurance Comparison
Here’s a breakdown of how Fort Collins has measured up compared to the national average:
- 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
Fort Collins homeowners pay an average of $116 for their home insurance premium every month and they are paying $1,387 yearly, which is above the national average home insurance cost of $1,192 which is $99 per month. The city’s average home value is $338,100; below average.
When it comes to property risks caused by burglaries, Fort Collins is below the national average burglary rate of 4.69% as well. In this city, burglaries only occur in 2.74% of 1,000 homes, much lower than the burglary rate in Denver and Colorado Springs.
This means that break-ins are not really a concern in this area and you will expect lower premiums in Fort Collins compared to other Colorado cities. This is because when the burglary rate is high, insurance premiums increase as well.
To learn more about Colorado average premiums over the last few years and our recommended insurers, read our article here.
Risks in Fort Collins
Flood damage in Fort Collins may not appear dangerous if you come to think of it, but it is one of the riskiest situations to happen to your home. It’s as dangerous as a house fire and contains massive destructive potential. Electrocution hazards that can destroy your appliances, injuries from broken glass or other sharp debris and the formation of molds and microbes that can ruin the structure of your home are some of the dangerous effects of floods. Other weather-related risks in Fort Collins are hailstorm and wildfire.
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, consider purchasing additional coverage for your home insurance policy, especially for damages brought about by Fort Collins’ weather-related risks.
Most Expensive Home Insurance Premiums
Here are the most expensive premiums in Fort Collins and the corresponding insurers that offer it:
- Liberty Mutual – $2,608
- Liberty – $2,477
- Farmers – $2,474
- ANGIC – $2,429
- Metropolitan – $2,298
The most expensive premium in Fort Collins is offered by LM Insurance Corporation. Their premium might be expensive but they offer many additional coverage options such as inflation protection, coverage for valuables, and identity fraud expense coverage. Paying premiums, tracking claims, and viewing policy documents are also convenient to use because of their mobile app.
Cheapest Home Insurance Premium in Fort Collins
On the other hand, here are the cheapest premiums in Fort Collins and the insurers that offer it:
- American Reliable – $474
- Economy Premier Assurance – $494
- Privilege Underwriters Reciprocal Exchange – $521
- 360 – $572
- Grange Insurance Association – $574
The cheapest home insurance premium in Fort Collins is offered by American Reliable. However, their policy is only available to homes that don’t meet the standard insurance companies’ requirements but still meet a certain standard for care and condition. It means that if your home has a lower value or older than what is required, you can apply to American Reliable.
