Glen Weinberg, owner of Fairview Commercial Lending, says his company has seen property insurance premiums climb roughly 30% every year—underscoring the growing burden on property owners across Colorado.
“Our annual increase in property insurance premiums is around 30%,” Weinberg said. “Every time I was dropped, I was able to obtain insurance—albeit at a price and with certain stipulations. The overwhelming majority of property owners can obtain insurance at a price. A state-run insurance carrier is an idea that has already played out in other states and will lead to unintended consequences including higher prices, less insurance options, and ultimately a taxpayer bailout of the state insurance plan.”
Recent analysis shows that Colorado now ranks among the states with the highest home insurance premiums in the country. On average, homeowners are paying around $4,600 per year—an increase of nearly 58% between 2018 and 2023. This surge is driven by a combination of factors, including destructive wildfires, severe weather, and rising property values.
Legal costs are also playing a role. The Economic Policy Institute notes that tort costs—such as legal fees, settlements, and damages from liability claims—are putting additional pressure on insurers. As a result, companies are adjusting premiums to cover these escalating risks.
Research suggests that more frequent and higher-value claims are being driven in part by increased legal action, spurred by aggressive advertising and external funding by trial lawyers. These trends are significantly impacting the cost of insurance in Colorado.
With more than two decades in real estate investment and lending, Weinberg is considered an expert in hard money lending, property finance, and valuation. He continues to manage Fairview Commercial Lending’s operations and contributes regularly to national publications in real estate and finance.
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