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Home Insurance in Grand Junction, CO: Companies & Premiums

Home Insurance in Grand Junction, CO: Companies & Premiums

Home Insurance in Grand Junction, CO: Companies & Premiums
Source: ActiveRain

Grand Junction is the largest city on the Western Slope in Colorado. It is located in Mesa County and serves as a hub for shipping and transportation between Salt Lake City and Denver. It is home to The Colorado National Monument where you can do outdoor activities such as biking and hiking or you can just sit and appreciate the beauty of stone monoliths and rock canyons on the ground. 

Grand Junction is also home to more than 20 breweries, which is why it’s called Colorado’s Wine Country. Other than that, you can also see Grand Mesa, a flat-top mountain that offers a variety of activities not just for tourists, but for homeowners as well. These activities include fishing and skiing.  Indeed, living in Grand Junction is great and fun.

Cost of living in Grand Junction is more affordable compared to other cities. It is also ranked as one of the best places to live and has earned a spot on some ranking competitions in the United States. However, even with all these awards and great reviews, homes can still be affected by risks, such as vandalism, theft, weather-related risks, and fire. So make sure that you have home insurance that can protect you and your home from natural disasters and other risks.

Using Colorado’s government quote tool, we were able to determine the average home insurance rates in Grand Junction. We calculated that to insure a framed house, it would cost an average of $928 a year for a standard homeowners insurance policy.

Grand Junction Homeowners Insurance

All homeowners may be required by their mortgage lenders to acquire home insurance for their homes. This type of insurance protects their home from any damages or liability. Use an HO-3 policy, which is a type of home insurance, to cover your personal property, land, and actual home from any accidents. If a person were to sue you for damages, an HO-3 would cover those damages and legal fees too.

The cost of an average HO-3 policy in Grand Junction is $1,012.17. This is an especially cheap rate for Colorado residents in general. There are even cheaper options for homeowners who want to save more money. Cutting costs on housing is the first place to start when trying to save money. 

View some of the cheaper rates for homeowners insurance in CO:

  • Teachers Insurance – $1,006
  • American Security – $896
  • Homesite – $709
  • Encompass – $533

List of Companies & Rates for HO-3 Coverage in Grand Junction, CO

CompanyAnnual Premium
Average$1012.17
Grange Insurance$281
American Reliable$430
Alliance$475
360$513
Economy Premier$518
Encompass$533
United Fire$534
Farmers Insurance Exchange$576
Farmers$583
ANPAC$614
AIG$643
American Strategic$643
Mountain Valley$668
Colorado Farm Bureau$697
ANGIC$707
Homesite$709
Allstate$716
IDS$717
Trumbull$778
Horace Mann$792
State Farm$804
Hartford Fire$805
Safeco$825
Twin City Fire$829
Shelter$835
Hartford Accident$838
QBE Insurance$844
Metropolitan Direct$852
National Farmers$879
American Security$896
Horace Mann Property$913
Metropolitan Property$944
Armed Forces$950
Stillwater$956
Praetorian$960
SECURA Supreme$963
American Family$976
Pharmacists Mutual$983
Teachers Insurance$1,006
Acuity$1,090
SECURA$1,094
The Cincinnati$1,107
California Casualty$1,112
CENTRAL$1,179
Esurance$1,240
USAA$1,254
Standard Guaranty$1,346
COUNTRY Mutual$1,348
United Services$1,391
Great Northern$1,401
Electric Insurance$1,404
USAA General$1,405
Liberty$1,424
Garrison$1,432
CSAA$1,438
Vigilant$1,473
LM Insurance$1,500
National Casualty$1,538
Federal$1,550
Pacific$1,550
Foremost Grand Rapids, Michigan$1,589
Amica$1,630
Owners Insurance$1,835
Auto-Owners$2,264

Grand Junction Condo Insurance

Not all homeowners live on private property. HO-6 is another type of home insurance that covers owners of condominiums and shared housing. You are more likely to have an accident while sharing your property with others. Having coverage for the shared property is important because you are not the only one at risk of causing an accident.

Expect to pay $412.71 for an HO-6 premium in Grand Junction. This is on the lower side of the Colorado average. Having a cheaper premium saves condo owners money over the years. If you want to save more on your HO-6 premium, then a cheaper rate is the way to go.

Look at some cheaper options to save money on your HO-6:

  • Safeco – $413
  • Hartford – $292
  • Colorado Farm Bureau – $239
  • Mountain Valley – $218

List of Companies & Rates for HO-6 Coverage in Grand Junction, CO

CompanyAnnual Premium
Average$412.71
SECURA Supreme$98
SECURA$131
Economy Premier$161
360$173
ANPAC$202
Mountain Valley$218
State Farm$218
Grange Insurance$219
Metropolitan Direct$220
Metropolitan Property$222
ANGIC$228
United Fire$228
Encompass$237
Colorado Farm Bureau$239
Allstate$252
California Casualty$273
Trumbull$275
Farmers Insurance Exchange$281
Hartford Fire$281
Acuity$291
Hartford Accident$292
Twin City Fire$292
National Farmers$293
Horace Mann$305
Foremost Grand Rapids, Michigan$310
Shelter$318
American Strategic$328
Farmers$338
CENTRAL$345
Electric Insurance$381
American Family$405
Safeco$413
COUNTRY Mutual$419
Great Northern$430
Armed Forces$449
Vigilant$451
National Casualty$457
Auto-Owners$459
Owners Insurance$459
Federal$470
Pacific$470
Teachers Insurance$474
USAA General$478
Amica$553
Liberty$626
CSAA$637
Stillwater$649
LM Insurance$660
Homesite$672
AIG$680
The Cincinnati$680
American Bankers Florida$686
USAA$712
United Services$736
Praetorian$749
Garrison$761
IDS$776
Pharmacists Mutual$877

Grand Junction Renters Insurance

Having renters insurance is just as important as having homeowners insurance. Without renters insurance, your assets within the rental property are not covered. If there is a fire, then you could lose everything within the property without the proper insurance. An HO-4 is required by most landlords, and going without it is incredibly risky.

The average cost of renters insurance in Grand Junction is $250.31. For Grand Junction’s cheaper HO-3 and HO-6, their renters insurance is lacking those discounted rates. There are plenty of options for saving money on an HO-4, however. Browsing cheaper premiums is a good way to start.

Take a look at cheaper rental coverages in Grand Junction:

List of Companies & Rates for HO-4 Coverage in Grand Junction, CO

CompanyAnnual Premium
Average$250.31
Economy Premier$86
360$115
ANPAC$127
SECURA Supreme$139
ANGIC$143
State Farm$146
California Casualty$150
National Farmers$150
Mountain Valley$155
Alliance$159
Praetorian$162
Allstate$166
Farmers Insurance Exchange$166
Stillwater$166
SECURA$173
IDS$179
Trumbull$179
Hartford Fire$182
Acuity$184
Colorado Farm Bureau$187
Metropolitan Direct$187
Hartford Accident$188
Twin City Fire$188
Grange Insurance$189
Farmers$197
American Family$208
American Strategic$209
Homesite$210
Markel American$216
CENTRAL$225
Aspen American$228
Auto-Owners$238
Owners Insurance$238
American Modern$239
Metropolitan Property$246
Safeco$253
Century-National$254
Great Northern$254
Shelter$254
Foremost Grand Rapids, Michigan$255
United Fire$255
Electric Insurance$263
Vigilant$264
Amica$272
CSAA$272
Federal$276
Pacific$276
Horace Mann$278
First American$281
Teachers Insurance$281
COUNTRY Mutual$293
National Casualty$299
American Bankers Florida$300
Encompass$306
USAA General$319
Garrison$333
USAA$333
United Services$360
American Family Home$417
Pharmacists Mutual$444
Liberty$479
LM Insurance$504
The Cincinnati$630
AIG$695
Grand Junction Home Insurance
Grand Junction by @elijahmacleod/Unsplash

Risks in Grand Junction

The most dangerous threats homeowners face in Grand Junction, specifically on the Western Slope are floods and wildfires. Most floods in the city come from the Colorado River when the spring gets runoff from the mountains. 

As mentioned above, the burglary rate is also high in Grand Junction, which means property theft happens frequently. That’s why home and property protection is important. Make sure to put additional coverage on your insurance policy so that when a thief damages your doors and windows or steal your electronics and jewelry, it will all be fully covered. 

Colorado’s Number of Natural Disasters

  • Number of tornadoes – 52
  • Property damage amount – $215,290,000
  • Number of disasters – 343
  • Most common disasters in the state – Flood, fire
  • 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 flood and wildfire in Grand Junction. 

Census

Grand Junction is a medium-sized city with a population of 62,475. It is 100% urban, and the average age of its residents is 34 years old. People in Grand Junction typically earn less, but the cost of living index is below the national average at 93.7. Owning or renting is below the Colorado average as well, so it may be a good place to have a starter home. Keep in mind that 19 percent of the population lives in poverty.

Potential residents should also keep in mind that the area is high in crime. It has been on a steady rise since the year 2010, but it fluctuates with the years. Keep your area of living in mind before moving to Grand Junction.

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.

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