Colorado Gov. Jared Polis promises $800 cut in homeowners' insurance

By the numbers: The savings would represent about a 20% decrease from current rates, and move Colorado from the sixth-most expensive state in the nation to No. 13.

How it works: The first step, Polis said, is strengthening homes against severe weather through local wildfire mitigation and a public-option plan.

• A bill moving through the Legislature would make it more affordable for homeowners to get hail-proof roofs and mitigate against wildfires.
• One provision would require insurance companies to provide homeowners with their wildfire risk scores and allow them to appeal inaccuracies.
• In addition, the state would prioritize rebuilding after a fire to reduce claims and premium costs.

The big picture: Home insurance rates in Colorado have increased 100% from 2018 to 2024, the state's insurance department reports.

• Hail risk accounts for 26-54% of premium costs in Colorado, while wildfire risk is about 25%.

The fine print: Polis is term-limited, meaning he won't get the chance to make good on his promise — that will fall to the next governor who takes office in January.