Guidebook now available for homeowners who need help selecting insurance company

Homeowners’ insurance rates vary more than renters’ or condominium owners’ premiums, according to findings of a survey conducted by the Colorado Division of Insurance.

Based on the survey’s results, the state insurance division has published a free guidebook that compares premiums among insurance companies across the state.

Called the Homeowners Insurance Premium Comparison, A Survey of Costs for Homeowners, Renters and Condominium Unit Insurance, the book assists consumers in selecting an insurance company.

Due to varying insurance rates, the insurance division suggests consumers talk to several agents before making a purchase, and research options and details of policies.

Unlike automobile insurance, Colorado law does not mandate homeowners’ insurance, but it is generally required by lenders as a condition of a mortgage.

?Annual premiums can vary greatly between companies,? said M. Michael Cook, acting commissioner for the Colorado Division of Insurance. ?The comparison guide gives consumers a starting point in finding the right insurance company, and offers helpful tips everyone can use.?

The homeowners’ insurance premium guide is available at www.dora.state.co.us/insurance or by sending a self-addressed stamped envelope to Homeowners Brochure, Colorado Division of Insurance, 1560 Broadway, Suite 850, Denver, CO 80202.

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