Relief may finally be on the horizon for homeowners as colorado to lower home insurance premium becomes the focus of a sweeping new plan aimed at tackling soaring costs across the state.

Gov. Jared Polis on Thursday introduced a detailed report titled Colorado's Roadmap to Reduce Homeowner's Insurance Premiums, outlining a strategy designed to bring financial breathing room to residents burdened by rising rates.

$800 Savings Targeted for Homeowners

Speaking at a press conference, Polis expressed strong confidence in the plan’s impact.

He said that, combined with past and current legislation, the roadmap could reduce out-of-pocket insurance costs by as much as $800 per household by the end of next year.

Standing alongside Insurance Commissioner Mike Conway, the governor pointed to a troubling trend: insurance premiums in Colorado have doubled over the past six years, climbing by nearly 100%.

Building Stronger Homes to Cut Costs

At the heart of the plan is a push to make homes more resilient—turning vulnerability into strength much like reinforcing a structure before a storm hits.

Key proposals include updated wildfire building codes to ensure newly constructed homes are fire-resistant, along with legislation aimed at expanding access to hail-resistant roofing.

“Hail risk is significant and the biggest driver of premiums, even in areas that don’t see frequent storms,” Polis said.

Colorado ranks second nationwide for hail-related insurance claims, which account for roughly two-thirds of total premiums.

Funding Hail-Resistant Roofs

A proposal led by state Rep. Kyle Brown would introduce a 0.5% fee on insurers to fund a $30 million grant program. The goal: help homeowners afford hail-fortified roofs.

Brown acknowledged that such roofs often come with higher upfront costs but argued that financial support would remove barriers for residents seeking long-term protection.

Under the proposal, insurers—who have expressed support—would not be allowed to pass the fee on to customers.

Incentives for Mitigation Efforts

Conway emphasized that homeowners who invest in protection measures should see real financial benefits.

Starting in July, insurers will be required to provide wildfire risk scores that factor in mitigation efforts, ensuring that homeowners receive fair pricing based on improvements they make.

“We need to encourage people to do more mitigation,” Conway said, “but they also need to see a return on that investment.”

Tax-Free Savings for Future Protection

Another legislative effort, backed by state Sens. Marc Snyder and Lisa Frizell, would allow homeowners to set aside up to $50,000 annually in tax-exempt savings accounts.

These funds could be used for mitigation upgrades, hail-resistant roofs, or covering insurance deductibles—offering a financial safety net against future risks.

Aiming for Lower National Ranking

Currently ranked as the sixth most expensive state for homeowners insurance, Colorado could see a significant shift.

Polis said the combined measures could push the state down to 13th place by next year, easing pressure on households across the region.

“We want homeowners insurance to be less expensive, not more,” he said. “And that’s exactly what we’re going to deliver.”