WEEK OF SEPTEMBER 26, 2024
VOLUME 23 | ISSUE 30
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Guardians of safety and well-being Home insurance Heroes Gala honors first responders who help address community’s mental health crisis
in state among most expensive BY TAMARA CHUANG THE COLORADO SUN
Weekly during the event. “To include the vital partnerships.” Located at the exclusive Signature Aviation private jet hangar at Centennial Airport, the event included the opportunity for attendees to get an up-close look at the variety of vehicles, aircraft and tools used to assist the community during emergencies.
This may come as no surprise to homeowners, but the cost of Colorado’s homeowners insurance is the eighth highest in the nation, according to Bankrate, a financial services company that tracks all sorts of monthly bills. At an average of $266 per month or nearly $3,200 a year, premiums are higher here than in states such as California ($121) and New York (144), as well as neighbors Arizona ($172), Utah ($104), New Mexico ($169) and Wyoming ($131). Blame extreme weather, hail damage and wildfires for our lofty rank, said Shannon Martin, Bankrate’s insurance analyst and a licensed insurance agent. But diving a little deeper, Martin also cited how policies are structured by states, the rising cost of homes, and something called “social inflation,” a term used by the insurance industry to describe the impact beyond regular economic inflation. “That’s the increase in lawsuits and the amount of payouts from the lawsuits,” Martin said. “Public opinion has changed on who’s really liable for these actions and how much money you should get in a lawsuit. … It’s impacting how policies are rated and how much they cost.” A 2023 analysis by the Colorado Division of Insurance found payouts have increased in recent years causing insurers in Colorado to lose money on the premiums collected. And premiums for the average homeowner increased 51.7% between January 2019 and October 2022. The
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Cpl. Grant Collins of the Lone Tree Police Department and Mental Health Clinician Sophia Lind of the Douglas County Community PHOTO BY HALEY LENA Response Team were awarded with the Law Enforcement Hero of the Year award. BY HALEY LENA HLENA@COLORADOCOMMUNITYMEDIA.COM
After a year that involved dangerous fires, numerous thefts, drug busts and the loss of life, first responders across Douglas County were recognized for their actions at the second annual Douglas County Community Foundation Heroes Gala. The event, which drew hundreds
of attendees, took place on Sept. 13. From law enforcement, fire rescue, members of the armed forces and military veterans, the event honored local heroes, including those involved with nonprofit organizations that have a hand in aiding the community. “Tonight we honor all of those heroes who serve our community,” said Douglas County Sheriff Darren
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