It’s been almost a year since Central Park saw one of the most damaging hailstorms to ever hit our community. Due to this storm (as well as other storms and wildfires throughout the state) we are seeing very high home insurance renewal premiums. We are also seeing some companies leave the area altogether.
While it may seem like insurance is just going to keep getting more expensive there are several strategies that can potentially save you on your property insurance.
1. Shop Around & Compare Quotes
Rates vary significantly between insurers in Colorado. Don’t just renew—get quotes from at least 2-3 companies every year. Using a broker can help save you time and energy as they can access multiple companies to compare for you. They will also know different carrier “appetites” and be able look at companies that are the right fit for your needs and budget.
2. Harden Your Home Against Wildfires
Since wildfire risk is driving up rates in many parts of Colorado (especially near the foothills and forests), take advantage of “defensible space” guidelines:
- Clear 30 feet of vegetation around your home.
- Use fire-resistant materials for roofing and siding.
- Install ember-resistant vents and covered gutters.
Some insurers offer discounts for Wildfire Mitigation Certification or participation in programs like Firewise USA®.
3. Bundle Policies
Most carriers offer up to 25% discounts when you bundle your home and auto insurance together. If you have other insurable assets (like an RV or umbrella policy), including them can boost savings.
4. Upgrade Impact Resistance
Hail is a huge risk in Colorado. If you’re replacing your roof, go for a Class 4 impact-resistant roof—it can score you significant premium reductions with many insurers.
Also, if you recently had a new roof installed make sure to inform your insurance company. Some companies do not automatically update the roof year and you may be missing a significant reduction in your premium.
5. Install Protective Devices
Insurers love preventive tech. These installations can earn discounts:
- Smoke & carbon monoxide detectors
- Security systems (with monitoring)
- Smart leak detectors (water shutoff valves)
- Storm shutters or reinforced windows
6. Raise Your Deductible
If you can afford to pay more out of pocket in case of a claim, increasing your deductible (e.g., from $1,000 to $2,500) can noticeably reduce your annual premium.
7. Review Coverage—Avoid Under- or Over-Insuring
Make sure you’re not insuring for more than the rebuild cost of your home (not the real estate market value). Also:
- Check if you’re duplicating coverage (e.g., if your HOA already covers exterior walls).
- Drop unnecessary riders you don’t use.
8. Ask About Loyalty or Claims-Free Discounts
If you’ve been with your provider for years and/or haven’t filed any claims recently, call them directly and ask for a review—you might be eligible for reductions they haven’t automatically applied.
