Home Insurance in Simla, Colorado
With a median home value of $251,400, Simla is 65% lower than the Elbert County median.
The typical home in Simla was built around 1977. Because older housing stock often has aging wiring, roofing or plumbing, it can cost more to insure or rebuild. About 36% of homes were built before 1960, about 29 points above Elbert County's 7%.
The housing stock in Simla is 66% single-family homes, 6% apartments in buildings with 5+ units and 22% mobile or manufactured homes. Mobile and manufactured homes typically need a manufactured-home (HO-7) policy rather than a standard homeowners policy.
About 38% of owner-occupied homes in Simla have a mortgage. Lenders require hazard (homeowners) insurance on any home carrying a mortgage.
The vacancy rate is 10%; vacant or unoccupied homes typically need a different coverage form than an owner-occupied policy. About 45% of occupied homes in Simla are owner-occupied.
In Simla, 72% of homes are primarily heated with propane. Homes heated with propane can carry added fire risk. Fuel-tank leaks and spills are often excluded from standard homeowners policies.
What's the biggest home insurance risk near Simla? FEMA's National Risk Index points to wildfire (Relatively Moderate) in Elbert County and Elbert County had 20 active NFIP flood policies as of September 2026. See the full Elbert County home insurance overview for all FEMA hazard ratings and flood coverage details.
In Colorado, the statewide average premium for a standard HO-3 homeowners policy is $2,492 per year (NAIC, 2023 data).
Key figures
| Median home value | $251,400 |
|---|---|
| Median year built | 1977 |
| Owner-occupied share | 45% |
| Share of owner-occupied homes with a mortgage | 38% |
| Top county hazard | Wildfire (Relatively Moderate) |
| Active NFIP policies in Elbert County | 20 |
| Home insurance premium | $2,492 - statewide average (NAIC, 2023 data) |
Nearby towns
Sources
Data last updated: 2026-09-29
- U.S. Census Bureau Gazetteer Files (2024)
- U.S. Census Bureau, American Community Survey 2020-2024 5-Year Estimates (2024)
- FEMA National Risk Index (December 2025)
- FEMA OpenFEMA NFIP Redacted Policies v3 (2026)
- NAIC Dwelling Fire, Homeowners Owner-Occupied, and Homeowners Tenant and Condominium/Cooperative Unit Owners Insurance: Data for 2023 (published 2026) (2023)