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Grand Junction Home Insurance

Grand Junction, CO Home Insurance Rates

Grand Junction Home Insurance
Grand Junction by @elijahmacleod/Unsplash

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’s Housing Demographics 

In the 2018’s census, Grand Junction’s population had a 7.4% change and became 63,374. The affordability of living in this city and the adventures that you can experience here are probably two of the reasons why people are opting to move in. Here’s more about the housing demographics in the city.

  • Owner-occupied housing unit rate – 56.4%
  • Median value of owner-occupied housing units – $210,400
  • Median selected monthly owner costs (with a mortgage) – $1,343
  • Median selected monthly owner costs (without a mortgage) – $324

Grand Junction’s Home Insurance Comparison

Here’s a breakdown of how Grand Junction measures 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

Based on the data provided above, Grand Junction homeowners pay an average of $77 for their home insurance premiums every month, which is below the national average of $99 a month. The city’s average home value is $215,570; above the average. Usually, when the average home value of a city is high, home insurance premiums can increase also.  

When it comes to property risks caused by burglaries, Grand Junction is above the national average’ burglary rate of 4.69% as well. In this city, burglaries occur in 5.97% of 1,000 homes, much higher than Aurora, Colorado Springs, and Fort Collins‘ burglary rate. 

This means that break-ins are more frequent in this area so expect some additional charges on your premiums because when the burglary rate is high, insurance premiums increase as well.  

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. 

Most Expensive Home Insurance Premiums

Here are the most expensive premiums in Grand Junction and the corresponding insurers that offer it: 

  • Auto-Owners – $2,377
  • Owners – $1,914
  • Pacific Indemnity – $1,739
  • Federal – $1,739
  • Liberty Mutual -$1,595

Cheapest Home Insurance Premiums

On the other hand, here are the cheapest premiums in Grand Junction and the insurers that offer it:

  • Grange – $262
  • Farmers – $432
  • Alliance – $432
  • Encompass Indemnity – $436
  • American Reliable – $474

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