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Homeowners in Colorado Springs, Colorado, pay an average home insurance rate of $1,308. This is comparatively lower than the national average premium of $1,438. Colorado Springs homeowners can make use of discounts offered by home insurance companies to further reduce their home insurance rates. Below are some of the discounts offered to Colorado Springs homeowners.


Home insurance companies calculate home insurance rates based on the age of the home. Home insurance rates increase as the age of the home increases due to their propensity for damage. Newly constructed Colorado Springs homes receive discounts of up to $275 on home insurance rates. Homes that are older than 50 years attract an additional cost of $63 on their insurance rates. In Colorado Springs, the average home insurance rates of homes older than 30 years and 40 years are $1,328 and $1,342, respectively.

Home insurance companies provide special discounts to Colorado Springs homeowners based on their profession. Teachers, federal government employees, active and retired army personnel can avail of special discounts on homeowners insurance. Senior homeowners in Colorado Springs can avail of discounts of up to $183 on homeowners insurance.

Colorado Springs has a notorious property crime rate of 33.50 per 1,000 residents. It is safer than only 8% of the remaining cities in the U.S. Specifically, Colorado Springs has a burglary rate of 5.78 per 1,000 residents, with 2,730 reported incidents. The chance of becoming a victim of property crime in Colorado Springs is 1 in 30. Homes with enhanced security features are less prone to burglaries and damage. Hence, home insurance companies encourage homeowners to install home safety devices by offering discounts as incentives. For instance, Colorado Springs homes with deadbolts and fire extinguishers can avail of discounts of $183 and $105, respectively, on home insurance rates. Additionally, homes with burglar alarms and smoke detectors receive a discount of $118 and $183, respectively, on homeowners insurance.

While most of the factors that determine home insurance rates are not under the control of homeowners, they can, however, benefit by choosing a higher deductible to reduce their home insurance rates. Colorado Springs homeowners opting for a high deductible of $2,500 can avail of a discount of $369 on homeowners insurance. Colorado Springs homeowners pay an average home insurance rate of $999 and $1,101 on a deductible of $2,000 and $1,500.