Extreme weather is pushing homeowners insurance premiums higher across the country, and Colorado is one of the hardest-hit states. If your Colorado Springs home insurance renewal jumped again this year, you're not alone. Here's what's driving the increases, what the latest Colorado data shows for El Paso County and what you can do about it.
How much has home insurance gone up in Colorado?
An Insurify analysis reported by The Center Square estimated the average Colorado home insurance cost at $3,996 in 2025, up 33%, with a projected 4% increase to about $4,164 by the end of 2026. That would make Colorado the sixth most expensive state for home insurance, up from about ninth in 2023.
Hail is the No. 1 reason
In February 2026, the Colorado Division of Insurance and the governor's office released an analysis of premiums from 20 home insurers across 11 counties, covering about 80% of the state's homeowners premium. The headline finding: hail, not wildfire, is the biggest driver of rising rates.
Hail makes up roughly 26% to 54% of the average homeowners premium, depending on the county.
Along the Front Range and Eastern Plains, hail accounts for about half of total premiums.
In El Paso County, hail accounts for about 52.5% of the average premium.
Even in Summit County, which rarely sees damaging hail, hail makes up about 36% of premiums because storm costs are spread across all policyholders.
Big storms explain why. A single Denver-area storm with baseball-sized hail in May 2024 caused more than $2 billion in damage in a few hours, according to Colorado Public Radio. Insurify's senior economics analyst also told The Center Square that insurers paid out more in claims than they collected in premiums in 2023.
Wildfire risk adds pressure, too
Wildfire is a smaller slice of the average premium, from about 1% in Denver to nearly 25% in La Plata County, according to the state's data. Its bigger effect is on availability: homes in high-risk areas are more likely to be non-renewed or offered limited coverage. Homeowners in the wildland-urban interface, from the west-side foothills to Black Forest, know this risk well.
6 ways to lower your Colorado Springs home insurance premium
Ask about an impact-resistant or fortified roof. The state calculated that a fortified roof could save El Paso County homeowners about $388 a year on average. If you're replacing your roof anyway, ask us about discounts for Class 4 impact-resistant materials before you sign with a roofer.
Review your wind and hail deductible. A higher deductible can lower your premium, but you need to be comfortable paying it after a storm. Here's how wind and hail deductibles work in Colorado.
Know how your roof is covered. Some policies pay actual cash value on older roofs instead of replacement cost. See replacement cost vs. actual cash value and roof age and home insurance in Colorado.
Reduce wildfire risk. Trimming trees, clearing a non-combustible zone around your home and using fire-resistant materials may not cut your premium much, but they can help you keep coverage available.
Bundle, then compare. Combining home and auto often earns a discount, but compare the total cost. Read our guide to bundling home and auto insurance in Colorado Springs.
Shop your policy every year with an independent agent. Insurers price hail and wildfire risk differently, so comparing several carriers is the fastest way to find the best value.
What Colorado is doing about it
State leaders are paying attention. A 2026 bill, SB26-049, proposed expanding state grants for impact-resistant roofs to individual homeowners and HOAs and allowing a tax deduction for a "catastrophe savings account" to help cover deductibles. Colorado also launched a FAIR Plan in 2025 as an insurer of last resort for homeowners who can't find coverage in the regular market.
Get a second opinion on your home insurance
McCloskey Advisor Group is a local independent agency in Colorado Springs. We compare home insurance in Colorado Springs from multiple companies and explain the trade-offs between price, deductibles and roof coverage in plain English. If you own rental property, we also help with landlord insurance in Colorado.
Think you're paying too much? Request a home insurance quote or call (719) 247-1554.
Sources: Colorado Public Radio (Feb. 11, 2026); Colorado Politics, "Hail drives up to 54% of homeowners' insurance premiums in parts of Colorado" (Feb. 11, 2026); The Center Square, reporting Colorado Division of Insurance and Insurify data (2026). For a national look at weather and premiums, see Quartz, "Why home insurance premiums are rising with extreme weather."