Price Per Square Foot to Insure in Colorado

[Michael Winchell]

I am in foothills West of Denver specifically Clear Creek County and have been working on some insurance quotes after getting a cancellation for increased fire risk.  I had been insuring at $350-$400 a square foot value the last year or two.  $400 for the premium properties $350 for closer to average finishes.    These are multifamily properties with multiple kitchen and laundries.   As I call for quotes some of these agents are acting like I'm delusional at those square foot values.  I heard rumors of the insured people from the Marshall Fire a few years ago were under insured at around $250 a square foot and can't rebuild.  I don't build new homes with builders, but I believe construction costs are high and time frames long based on my remodel experience.  In 2022 - did a 1500 square foot house down to stud remodel with attic finish addition was about $250k and I probably put in 1000+ hours of labor free.