Governor Polis Announces Roadmap to Reduce Homeowners Insurance; Saving Colorado Homeowners Money

DENVER - Today, Governor Polis announced the Roadmap to Reduce Homeowners Insurance, a comprehensive strategy in partnership with the Division of Insurance (DOI) to help address high homeowner's insurance rates, and find statewide solutions to reducing the cost of homeowner's insurance. Nationally, homeowner's insurance rates have risen by an average of 58% between 2018 and 2024, and 100% in Colorado during the same timeframe.

"Colorado is focused on expanding housing options Coloradans can afford, and homeowner's insurance is a big cost for so many in our state. There is more we must do to lower the cost of homeowner's insurance, and this roadmap outlines our plan to reduce insurance costs, making our communities safer and more resilient in the face of unpredictable weather conditions and natural disasters. Our goal with this plan is to reduce the average homeowners insurance cost by $800 on average," said Governor Polis.

"Homeowners insurance affordability and availability remain top priorities at the Division of Insurance. I'm proud to partner with Governor Polis on the strategies in this Roadmap to bring costs down for Coloradans. With what is looking like a bad fire season ahead, it is even more important for consumers to understand how insurance companies establish their individual wildfire risk scores and the discounts available to them for mitigating their homes. With HB-1182 becoming effective in July, that transparency will be law. Hail season is also quickly approaching, and hail is a huge driver of increasing homeowners insurance premiums. This is why I'm urging support for SB-155 this legislative session, which would establish a grant program for Coloradans to fortify their roofs against hail. Taking these steps can have a tangible impact for Colorado Consumers," said Colorado Insurance Commissioner Michael Conway.

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New analysis from the Division of Insurance shows that while wildfire premiums are targeted at high-risk areas, the risk of hail damage is shared by homeowners across the entire state. Between 26-54% of Coloradans' premiums are from hail risk and 1 - 25% are from wildfire risk. Recent data collected by the Colorado Division of Insurance, showed that along the Front Range and into the Eastern Plains, hail accounts for approximately 50% of the premium homeowners pay, while wildfire has a much smaller impact. This year, proposed legislation is working to ensure that Colorado has a well equipped workforce for installing fortified roof systems to help more Coloradans be prepared for unpredictable weather events. The legislation also ensures that contractors receiving grant funds agree to repair, rather than replace roofs when appropriate and do not waive homeowner's insurance deductibles.

The objective of the roadmap is to address the issue of high homeowner's insurance head on and to save Coloradans money by lowering Colorado's average homeowner's insurance costs from 6th most expensive state to 13th by December 31, 2027. The roadmap outlines three distinct pillars to meet this objective.

Pillar 1: Strengthening Homes Against Severe Weather

• Ensuring coverage options for high risk homes: FAIR Plan helps Coloradans connect with insurance when private insurance is unavailable
• Helping Colorado Communities adopt wildfire resiliency building codes: The Division of Fire Prevention and Control (DFPC) is supporting local jurisdictions to adopt the Wildfire Resiliency Code, ensuring that new homes are hardened against wildfires.
• Investing in smarter firefighter technology: The Division of Fire Prevention and Control were recently awarded funding via the Commerce, Justice, Science, and Related Agencies Appropriations Act for Fiscal Year 2026 to bolster work in improved imagery and expanded satellite data to detect weather events faster to protect communities.

Pillar 2: Recognize Wildfire and Hail Mitigation in Insurance Rates

• Transparent wildfire risk models and mitigation incentives: In 2025, Governor Polis signed HB25-1182 Risk Model Use in Property Insurance Policies which gives homeowners the right to receive their wildfire risk scores from their insurers and to appeal inaccurate scores.
• Accounting for statewide wildfire mitigation efforts: Colorado is pursuing statewide fire mitigation efforts, and examining if insurance carriers risk models account for state fire mitigation strategies.
• Improving insurers' awareness of mitigation efforts: Exploring opportunities to participate in a multistate wildfire mitigation data sharing initiative, helping to improve data sharing about wildfire mitigation across states. Colorado can help insurance carriers better assess Coloradans' mitigation efforts so that homeowners receive the appropriate premium

Pillar 3: Help Communities Rebuild Faster

• Providing emergency support to local governments: The Department of Local Affairs has emergency funds to support local governments in disaster recovery.
• Applying lessons learned from the Marshall Fire: After three years, two-thirds of the homes destroyed in the Marshall Fire have been rebuilt, that is well above the national average of 25% within five years.
• Housing recovery plans: Integrating cost and risk reduction strategies: The State is working to construct more resilient housing and strategies to reduce rebuilding costs.

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