Colorado Springs Insurance Resources

A deductible is the amount you are responsible for paying toward a covered loss before your insurance company pays its portion.

Replacement cost coverage generally helps pay to repair or replace damaged property with similar new property, subject to your policy limits and terms.

Actual cash value generally considers depreciation when determining the value of damaged property.

Some policies have a separate deductible for wind or hail losses. It may be a flat dollar amount or a percentage of your dwelling coverage.

Liability insurance can help protect you financially if you are legally responsible for injury or property damage to someone else.

Umbrella insurance provides additional liability protection above certain underlying insurance policies.

Most homeowners policies cover hail as a covered peril, but a separate wind and hail deductible, the age of your roof, and roof settlement terms, such as actual cash value for older roofs, can affect how much a claim pays. Review these details before storm season.

Fire, including wildfire, is generally a covered peril on standard homeowners policies. In higher-risk areas of Colorado, availability and pricing can vary, so it is important to review your dwelling limit and any extended replacement cost options.

Colorado requires liability coverage of at least $25,000 for bodily injury per person, $50,000 for bodily injury per accident, and $15,000 for property damage. These minimums may not be enough to protect your assets, so many drivers choose higher limits.

Colorado insurance companies must offer uninsured and underinsured motorist coverage, and it is included on your policy unless you reject it in writing. This coverage can help protect you if you are hit by a driver with little or no insurance.