Best and Cheapest Renters Insurance in Boulder, CO (2024)

The best and cheapest renters insurance company in Boulder, Colorado, is Auto-Owners, with a MoneyGeek score of 92 and an annual premium of $55. Depending on your needs, other providers may be best, like Chubb for service quality, with an annual premium of $137.

MoneyGeek also looked into the best and cheapest renters insurance in Colorado for those who live elsewhere in the state.

The best renters insurance in Boulder, Colorado is Auto-Owners with a MoneyGeek score of 92 out of 100 and an annual premium of $55. The following providers are the top two best renters insurance providers in Boulder for a policy with $20,000 in personal property coverage, $100,000 in personal liability, and a $1,000 deductible.

• Auto-Owners: MoneyGeek score of 92 out of 100 ($55 per year)
• State Farm: MoneyGeek score of 90 out of 100 ($63 per year)

The best provider in the state balances both cost and affordability. Auto-Owners Insurance has perfectly balanced customer satisfaction and affordability with an affordability score of 55 out of 55.

In Boulder, Colorado, Auto-Owners offers the cheapest renters insurance with an annual premium of $55 for $20,000 in personal property coverage. Personal property coverage protects your belongings in case of damage or theft. The following providers are the top two cheapest providers in Boulder for $20,000 in personal property coverage and a $1,000 deductible:

• Auto-Owners: $55 per year
• State Farm: $63 per year

Cheap renters insurance policies often have low personal property coverage limits. Higher personal property coverage limits can lead to higher monthly costs but provide better protection if you have a lot of personal belongings.

In Boulder, Colorado, Auto-Owners offers the cheapest renters insurance for a policy with $20,000 in personal property coverage and a $2,000 deductible, with an annual premium of $53. The following providers are the top two cheapest providers in Boulder for $20,000 in personal property coverage and a $2,000 deductible:

• Auto-Owners: $53 per year
• State Farm: $62 per year

A deductible is the amount you pay out of pocket before your insurance covers the rest, and it can affect your rates. A higher deductible often leads to cheaper premiums, while a lower deductible means higher premiums. It’s important to balance both to ensure you are adequately covered. If you need to file a claim, you will need to pay the deductible amount first, so choose a deductible that you can afford.

In Boulder, Colorado, the best renters insurance company for service quality is Chubb with an annual premium of $137.
Here are the top two best providers in Boulder, Colorado, for a policy with $20,000 in personal property coverage, for those who value great customer service without considering affordability:

• Chubb: MoneyGeek score of 93 out of 100 ($137 per year)
• American Family: MoneyGeek score of 87 out of 100 ($165 per year)

Great customer service is important for renters looking for insurance because it ensures quick and efficient handling of claims. When you make a claim, great customer service means you get the support you need promptly and without hassle. MoneyGeek scores renters insurance providers and their customer satisfaction based on J.D. Power surveys, which assess service quality and satisfaction in renters insurance.

Auto-Owners offers the best renters insurance for those in Boulder, Colorado, needing high personal property coverage, with an annual premium of $116 for a policy with $100,000 in personal property coverage. For $100K in personal property coverage, the following providers are the top two best providers in Boulder:

• Auto-Owners: MoneyGeek score of 92 out of 100 ($116 per year)
• State Farm: MoneyGeek score of 91 out of 100 ($146 per year)

High personal property coverage is designed to protect a significant amount of personal belongings against potential losses. Renters with a substantial amount of personal items often require higher personal property coverage. While higher coverage levels typically come with increased premiums, finding a provider that offers an optimal mix of affordability and exceptional service is important.

In Boulder, USAA is the top-ranked renters insurance provider for those with military backgrounds, boasting an annual premium of $95. The following providers are the top two best providers in Boulder for veterans for a policy with $20,000 in personal property coverage.

• USAA: MoneyGeek score of 100 out of 100 ($95 per year)
• Auto-Owners: MoneyGeek score of 92 out of 100 ($55 per year)

USAA offers a range of products tailored for those with a military background, providing discounts and coverages that suit the military lifestyle. While USAA ranks first in affordability, Auto-Owners Insurance also offers competitive pricing in Boulder. However, USAA's tailored offerings for military members make it a strong contender despite other cheaper options.

The top renters insurance company for Boulder residents with poor credit is Chubb, with an annual premium of $234 for a policy with $20,000 in personal property coverage. The following providers are the top two best providers in Boulder for those with poor credit for the same type of policy:

• Chubb: MoneyGeek score of 94 out of 100 ($234 per year)
• State Farm: MoneyGeek score of 93 out of 100 ($127 per year)

In Boulder, rates for those with poor credit are typically higher because insurers view them as higher-risk due to a history of late or missed payments. However, you can improve your credit over time and look for discounts to help reduce your insurance rates.

The average cost of renters insurance in Boulder, Colorado is $113 annually, which breaks down to $9 monthly. This is slightly cheaper than the Colorado state average of $114 per year and significantly lower than the national average of $145 per year.

These rates are based on a renters insurance policy with $20,000 personal property limits, $100,000 liability limits, and a $1,000 deductible. Renters should remember that the average cost of renters insurance in Boulder may vary greatly depending on the amount of personal property coverage you purchase. Personal property coverage protects your belongings in case of theft, fire, or other covered events. Use the calculator below to see how prices change based on the value of your personal property.

The cost of renters insurance is influenced by multiple factors, including the location of the rental property and the amount of coverage desired. Understanding these variables is key to finding a policy that fits your budget and needs.

• Location: The area where you live can affect your premium due to crime rates and weather-related risks.
• Coverage Amount: Opting for higher coverage limits will increase your insurance costs.
• Deductible: Choosing a higher deductible can lower your monthly premium, but you'll pay more out of pocket in the event of a claim.
• Claims History: Renters with a history of claims may face higher premiums due to a higher perceived risk by insurance companies.
• Credit Score: Insurance companies may factor in your credit history when determining your premium, with better credit records often leading to lower costs.

Renters insurance covers personal belongings, liability, and additional living expenses. It protects against theft, damage, and unforeseen events. Purchasing renters insurance ensures financial security and peace of mind in case of unexpected situations.

• Personal Property Coverage: This covers the cost to repair or replace your belongings if they're damaged or stolen. For instance, a renter in Colorado may receive compensation for a stolen laptop.
• Personal Liability Coverage: This protects you financially if a guest is injured in your rental or you cause property damage. A Colorado renter could use this coverage if a guest slips and falls in their apartment.
• Loss of Use Coverage: Loss of use coverage helps with additional living expenses if your rental is unlivable due to a covered peril. A renter might rely on loss of use coverage to pay for a hotel stay after a fire.

Although renters insurance provides a financial safety net, it doesn't shield against every mishap. For instance, it typically excludes flood damage and your roommate's possessions.

• Natural Disasters: Standard renters insurance often does not cover damage from earthquakes or floods.
• Roommate's Belongings: Personal property coverage does not extend to items owned by a roommate unless they are listed on the policy.
• High-Value Items: Expensive jewelry or electronics may exceed the policy's limit and require additional coverage.
• Business Equipment: Property used for business purposes might not be covered under a standard renters insurance policy.
• Pest Damage: Infestations and damage from pests like bed bugs or rodents are usually not covered.
• Car Theft: While personal property stolen from your car may be covered, the theft of the car itself is not.

The best renters insurance provider in Boulder, Colorado, depends on your unique needs. We answered the frequently asked questions to help you make an informed decision.