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Best Cheap Homeowners Insurance in Aurora

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If you are a homeowner living in Aurora, you know the value of a good homeowners insurance policy. The median value of a home in Aurora is $290,000, and that is an investment that is worth protecting. The average cost of home insurance in Aurora in 2021 is $1,896 for a $250,000 dwelling, which is slightly under the Colorado average of $1,659.

We looked at the insurers who are writing the most policies in the region and assessed them on multiple factors, including cost, customer service, financial stability and their range of coverage options. The best cheap home insurance in Aurora is available from a few companies that excelled in all areas.

Best cheap home insurance companies Aurora

Auto-Owners, USAA, American Family, Travelers and Allstate are the companies we chose for our best-of list. They all offer policies at a competitive rate and score well in J.D. Power’s Overall Customer Satisfaction Index Ranking, which is based on interviews with more than 11,000 policyholders. These companies are financially stable and allow you to customize your policy as needed for your own circumstances.

Home insurance company Average annual premium for $250K dwelling coverage J.D. Power score
Auto-Owners $1,135 843/1,000
USAA* $1,486 889/1,000
American Family $1,568 821/1,000
Travelers $1,699 803/1,000
Allstate $1,951 829/1,000

*USAA is not eligible for official ranking with J.D. Power due to eligibility restrictions

Auto-Owners

Auto-Owners places a high emphasis on good customer service, as evidenced by its J.D. Power score of 843, which places it in third place nationally on the list. It also offers the lowest average rate for homeowners insurance in Aurora of the providers Bankrate reviewed.

Despite the company’s name, Auto-Owners is not just for car owners — it writes robust homeowners policies as well as specialty policies for high value homes. It offers 12 possible discounts, including a green discount if you go paperless, a multi-policy discount and a discount if you happen to be mortgage-free.

USAA

USAA has a well-earned reputation for providing excellent customer service and a supportive community experience for policyholders. USAA is not as well-known as some of our other choices, and that might be because it only sells policies to members of the U.S. military, veterans and their families. If you fall into one of those categories, consider making it your first choice for a quote when you’re looking for homeowners insurance. Policies are geared toward the needs of servicemembers, including, for example, coverage for military uniforms.

American Family

AmFam has been writing policies since the 1920s, and although it may not be at the top of any lists, it is comfortably positioned above average for customer service. Its rates are below the Aurora average, and its J.D. Power rank indicates that it places a value on good customer service.

In addition to the basic offerings of any HO-3 policy (the most common type of homeowner policy), American Family has optional coverages for equipment breakdown, sump pump and water backup, credit theft and more. A handful of discounts allow you to save even more on your premium with the company.

Travelers

A basic policy from Travelers offers fairly comprehensive coverage of your home, other structures, your belongings and liability, in addition to providing for your living expenses if you can’t be at home while it’s being repaired. There are eight additional coverage options allowing a high degree of customization, including a green home endorsement so that you can repair your home in an environmentally friendly manner, identity fraud and extended coverage for jewelry or other valuable items.

Allstate

Allstate’s average rate for Aurora residents was the highest of our five, but the company offers a good return on your investment. In addition to the standard coverages of an HO-3 policy, it has options such as identity theft, business property and yard and garden coverage to protect from damage to your landscaping.

“Allstate Extras” provide additional perks, such as a Claim Rateguard, which keeps your premium costs reasonable even if you file claims and Deductible Rewards, which offers $100 off your deductible just for signing up, and an additional $100 off for every year you stay claim-free.

Other Aurora home insurance coverages to consider

If you have a mortgage on your home, your lender probably requires you to carry homeowners insurance. It is not, however, mandated by the state the way that auto insurance is. Few homeowners go without insurance, though, because of the costs of rebuilding after a disaster such as a home fire.

A standard HO-3 policy covers your home up to the limit of your coverage, as well as your belongings and liability. Here are some common customizations, called endorsements, that you can add to your policy if necessary:

  • Flood insurance: Flooding is one of the main gaps in standard coverage, which does not include it. Your insurer may be able to sell you a flood policy, though, from the National Flood Insurance Program, and it is worth considering if you are in a flood zone.
  • Extended property: A basic policy covers your personal belongings — up to a point. If you have expensive jewelry, artwork, electronics or other collections or items, you may be interested in extended coverage that protects them specifically from loss or damage.
  • Identity theft: More and more people are finding themselves the victims of identity theft, and it takes time and money to recuperate from such a theft. This optional coverage will pay for legal fees, lost wages and other costs.

Home insurance discounts in Aurora

To find cheap home insurance in Aurora, you will want to take advantage of any discounts that are available to you. Almost all major insurers have at least a few, and they tend to be fairly easy to earn. Here are some that are common in Colorado:

  • New home: Some insurers offer a discount if you have purchased your home within the past 12 months. You may also earn a discount if your home is a new build.
  • Multi-policy: If you are happy with your homeowners insurance company, consider purchasing your auto insurance from them as well. This will likely save you a few percentage points off your premiums.
  • Protective devices: Smoke detectors, sprinkler systems, security systems and anything else that makes your home safer and more secure is likely to earn you a discount.
  • Gated community: If you live in a gated community or one where there is a security presence, residence cards or a key-lock device to enter, you may earn a discount.

Frequently asked questions

What is the best home insurance company?

Finding the best home insurance company for you involves doing some research into the companies that are writing policies in your area. A good place to start is with our list of the Best Homeowners Insurance Companies of 2021. Ask for quotes from several companies so you can compare costs.

How much does home insurance in Aurora cost?

The average price of home insurance in Aurora is $1,896. Your own costs will be determined by a broad range of factors including your age and credit rating, your home’s age and condition, and the location of your property.

How much home insurance do I need in Aurora?

Your home insurance should protect you financially if a disaster hits your home. It should be enough that you would be able to rebuild a home of approximately the same size if your current dwelling were destroyed or damaged. Your insurance agent can help you determine how much this is.

Methodology

Bankrate utilizes Quadrant Information Services to analyze rates for all ZIP codes and homeriers in all 50 states and Washington, D.C. Quoted rates are based on 40-year-old male and female homeowners with a clean claim history, good credit and the following coverage limits:

  • Coverage A, Dwelling: $250,000
  • Coverage B, Other Structures: $25,000
  • Coverage C, Personal Property: $125,000
  • Coverage D, Loss of Use: $50,000
  • Coverage E, Liability: $300,000
  • Coverage F, Medical Payments: $1,000

The homeowners also have a $1,000 deductible and a separate wind and hail deductible (if required).

These are sample rates and should be used for comparative purposes only. Your quotes may be different.

Rates are determined based on 2020 Quadrant Information Services data.

Source: on 2021-05-14 11:56:15

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