#6 Cannot Find An Insurer

#6 What can I do if no company will insure my home?

As of 2025, Coloradans who have been denied insurance by 3 or more insurers are eligible to apply for insurance through the FAIR plan. However, this is considered a policy of last resort because the coverage limits are low (capped at $750,000, which includes both the structure and its contents), and the premiums are high.  The FAIR plan is only appropriate if you can’t find any insurance.

More Details: More than two-thirds of states have created Fair Access to Insurance Requirements (FAIR) Plans to function as insurers of last resort. The Colorado legislature established a FAIR plan through legislation passed in 2023. It is now available to residents of the state.

FAIR plan insurance in Colorado provides coverage only for fire and lightning, with the option to add extended protection for wind, hail, and certain other perils. The combined payout limit for replacement cost, including both the structure and its contents, is set at $750,000. Given the high premiums and limited coverage, you may need to supplement the FAIR plan with additional policies from traditional insurers to address gaps. To purchase a FAIR plan policy, you must work with a licensed insurance agent or broker who is registered with the state for this purpose. Before considering the FAIR plan, make sure your broker has exhausted all available options—both admitted and non-admitted insurers—to secure coverage for your home. For many high-risk properties, the FAIR plan may be the only viable solution, but it's important to understand its restrictions and seek supplementary insurance as needed. For further details, consult the FAIR PLAN FAQ on their website https://www.coloradofairplan.com/faq-1.

In Colorado, the FAIR plan covers only fire and lightning, with an option to purchase extended coverage for wind, hail and some other things.  It has a combined payout limit for actual replacement cost capped at $750,000 for everything -- structures and contents. The premiums are high and the coverage is limited, and may need to be supplemented with other insurance policies. However, for high-risk properties, it may be your only choice. See FAIR PLAN FAQ on their website.

FAIR plan insurance must be purchased through licensed insurance agents or brokers registered with the state to write FAIR plan policies. You may be able to buy supplemental insurance from traditional companies to augment the coverage offered by the FAIR Plan.

Before considering the FAIR Plan, be sure your insurance broker has contacted all possible insurance companies, both admitted and non-admitted.