Fast & affordable landlord insurance in Colorado
Landlord insurance in Colorado covers rental property damage, liability claims, and income loss. Coverage requirements and pricing vary based on property type, elevation, and location. Get a quote for Colorado landlord insurance designed for your rental property.
We've gotten more than $102 million in property insured in Colorado
What to know about rental properties in Colorado
Colorado is a landlord-friendly state and a strong market for rental property investment. The eviction process generally favors landlords, and rental demand is consistently high across Denver, Colorado Springs, Boulder, Fort Collins, and the mountain communities. The state's population growth over the past decade has fueled a healthy rental market, with both long-term and short-term rental opportunities.
Colorado's rental market demonstrates remarkable resilience, driven by a diverse economic base spanning technology, aerospace, energy, and tourism sectors that collectively support sustained housing demand across multiple price points and property types throughout the state's varied geographic regions.
Where Colorado gets complicated: weather. The state has significant natural disaster risk; hailstorms across the Front Range are among the costliest in the country, and Colorado is a national leader in annual hail damage to property. Wildfires have become an increasing threat in the foothills and mountain areas, and heavy snowstorms can cause ice dams, roof damage, and burst pipes during the winter months.
For landlords, these aren't hypothetical risks — they're annual realities. The Front Range experiences an average of 39 hail days annually. Wildfire risk has doubled since 2000. Winter property damage claims spike 300% during extreme cold snaps.
How landlord insurance works in Colorado
Landlord insurance covers your rental property where a homeowners policy stops. If you're renting out a property in Colorado, whether it's a single-family home in Denver or a vacation rental in the mountains, your homeowners insurance won't cover tenant-related risks.
A Colorado landlord policy through Steadily includes dwelling coverage for structural damage from covered perils like fire, wind, and hail — that last one being particularly important given how frequently Colorado properties sustain hail damage. Liability coverage protects you from claims if a tenant or visitor is injured on the property. Finally, loss of rent coverage ensures your income continues if the property can't be occupied during repairs.
Colorado's unique elevation changes – from 3,317 feet in the eastern plains to over 14,000 feet in mountain communities – create distinct insurance considerations that standard homeowners policies simply cannot address adequately, particularly regarding altitude-specific weather patterns, seasonal occupancy variations in resort areas, and the specialized liability exposures associated with short-term vacation rental operations in high-altitude environments.
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Do you need landlord insurance in Colorado?
The hail risk alone makes the case. A single summer hailstorm in the Denver metro can cause significant roof damage, and some years produce multiple damaging events. Add in wildfire exposure for foothill properties and the freeze-thaw cycle that affects plumbing and foundations, and the argument for coverage is hard to dispute.
Colorado ranks second nationally for hail damage frequency. The 2017 hail season alone generated over $2.3 billion in property damage across the state. Denver International Airport recorded golf ball-sized hail on 14 separate occasions in 2019. Mountain properties face additional exposures from avalanche zones affecting 23 Colorado counties.
Specialized landlord coverage becomes essential when considering Colorado's regulatory environment, which includes local short-term rental ordinances in over 40 municipalities, varying tenant protection laws across different counties, and state-mandated disclosure requirements for properties located within natural hazard zones or former mining areas that create unique liability exposures for property owners.
Average cost of landlord insurance in Colorado
Colorado landlords pay a median of around $1,655 per year, one of the higher figures in the Mountain West. That's not surprising given the mix of severe hail, winter storm risk, and increasing wildfire exposure in parts of the state. Colorado Springs and the Front Range corridor tend to get quoted differently than more rural or higher-elevation properties, and that geographic variation is real.
Liability coverage also factors into Colorado premiums, and landlords here should think carefully about what limits they're carrying relative to the value of their property and rental income. The median is a reasonable reference point, but individual property characteristics will drive your actual number more than any statewide average can predict.
It's worth noting that the exact location of your property will matter quite a bit in determining your premium; Colorado's diverse geography means premiums can vary significantly from the Front Range to the mountains to the Western Slope. Your property type, its age, and condition will also determine where your actual premium lands relative to the median.
To get a quote on your rental property, all you need to do is enter your address and some other quick details below. Quotes are completely free and will be sent to your email within minutes.
DP-1 vs DP-3 comparison for Colorado
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Properties we look after
We make it easy to get landlord insurance for many types of properties
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Coverages
We cover a wide range of risks, or you can choose a limited set of coverages for a lower premium
Riot & civil commotion
Protect your rental property from damage caused by riots or civil commotion. Steadily's landlord insurance includes coverage for these rare but costly events.
Vandalism & burglary
Landlord insurance with vandalism and theft coverage protects your investment when criminal activity damages your property.
Loss of rent
Rent loss insurance replaces your rental income during restoration, protecting your cash flow when tenants can't occupy the property.
Storm and hail
Storm and hail damage is one of the most common and costly issues landlords face. Proper storm damage insurance ensures your investment remains secure when severe weather events occur.
Water
Water damage is one of the most common and costly issues landlords face. Proper water damage insurance ensures your investment remains secure when unexpected water events occur.
Legal liability
Legal liability claims and lawsuits can hit fast and hard — the right landlord liability coverage keeps your finances intact when they do.
Fire
Fire damage ranks among the most costly and devastating events a property owner can face. Having the right fire damage insurance in place means you won't be left covering those losses out of pocket.
FAQs
about landlord insurance in
Colorado
Is landlord insurance required by law in Colorado?
Colorado doesn't mandate landlord insurance through any state statute. Your mortgage lender, however, is a different story — they'll almost certainly require at least dwelling fire coverage as part of the loan terms. For landlords in areas like Colorado Springs or mountain communities, where wildfire and hail risk can be significant, carrying a solid policy is more about financial common sense than legal compliance.
Can a landlord require renters insurance in Colorado?
Yes, Colorado landlords can include a renters insurance requirement in their lease without any legal issue. It's a clause that benefits both parties: the tenant gets personal property and liability protection, and the landlord reduces the likelihood of absorbing costs from tenant-caused incidents. This requirement is becoming standard practice, especially among landlords managing properties in Denver, Colorado Springs, and other high-demand markets.
What does landlord liability coverage include in Colorado?
Liability coverage protects you when a third party — whether it's a tenant, their guest, or even a delivery driver — suffers an injury on your rental property and decides to pursue a claim. It pays for legal defense, medical bills, and any resulting settlement. In Colorado, where outdoor common areas like decks, stairs, and walkways see heavy use in all four seasons, liability claims from slip-and-fall incidents are especially common.
Does landlord insurance cover loss of rental income in Colorado?
Most comprehensive landlord policies include loss of rent coverage, which reimburses you for missed rental income when a covered event — like a fire, major storm, or burst pipe — makes the property uninhabitable. Coverage typically continues until repairs are complete or a set time limit (usually 12 months) is reached. It won't cover lost rent if a tenant simply stops paying, though — that's a separate risk that requires rent guarantee insurance.
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