Homeowners Insurance 2
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Gov. Polis unveils plan aimed at cutting Colorado home insurance costs by up to $800 a year
Gov. Jared Polis and Division of Insurance Commissioner Mike Conway unveiled a “roadmap” on Thursday that they say will save the average Coloradan $800 a year on homeowner’s insurance. Colorado has some of the highest homeowners’ insurance rates in the country, according to the National Association of Realtors. While premiums nationwide increased by about 58%…
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Colorado Democrats eye new fee on home insurance companies
Colorado Democrats are reviving a proposal to levy a new fee on home insurance companies, with the aim of distributing grants to fund “resilient” roofing. Introduced by Sen. Kyle Mullica, D-Thornton, Senate Bill 155 creates a government “enterprise,” which would collect a 0.5% fee of the total premium collected by an insurer on what’s called…
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Hail drives up to 54% of homeowners’ insurance premiums in parts of Colorado
Hail is the largest cost driver of homeowners’ insurance spikes in many parts of the state, according to data collected by the Colorado Division of Insurance. The department requested data from 20 homeowners’ insurance carriers to calculate average premiums and the percentage of those premiums attributable to hail and wildfire risks. “We know that homeowners’…