Colorado Sees Third-Highest Homeowners Premium Increase In America

Craig Plazure and his wife, Morgan, describe themselves as two of the ‘lucky ones’ who were able to buy a home in Colorado in August 2021. But after settling down and having two children, the family is wondering how long they’ll be able to stay in Colorado because of their rising homeowners insurance premiums.

The Plazures moved into a 130-year-old home in central Denver’s Whittier neighborhood because of its access to City Park, the Madison Recreation Center and the walkable area.

Their homeowners insurance policy carried an annual price tag of around $1,800, but after a summer of extreme weather, the family received a letter from the bank saying their premium was going up by more than 20%.

Like many households in Colorado, the increased forced them to look for areas where they can cut costs as inflation continues to increase the prices of necessities like food, energy and child care.

‘People are being squeezed in every way,’ Plazure said. ‘And I think this is just another example.’