Bonanza, Colorado, is a small, unincorporated community located in the San Luis Valley, nestled in the southern part of the state near the Sangre de Cristo Mountains. This charming town is known for its scenic beauty and tranquil atmosphere, offering a peaceful retreat for those seeking a rural lifestyle. With a population of just over 100 residents, Bonanza retains a tight-knit community feel, ideal for families, retirees, and nature lovers alike.

The town is situated at an elevation of approximately 8,100 feet, providing stunning views of the surrounding mountains and wide-open landscapes. Bonanza’s primary zip code is 81123, which covers both the town and the surrounding area. While the town lacks distinct neighborhoods, many residents live in spacious properties with ample land, making it an ideal location for those who appreciate privacy and outdoor activities.

Housing options in Bonanza range from rustic cabins and cottages to larger homes, offering a variety of choices for potential residents. The town’s remote, natural setting is a major draw for those who enjoy hiking, wildlife watching, and outdoor recreation. Bonanza’s peaceful atmosphere fosters a community that values tranquility, simplicity, and connection to nature, making it a perfect place for those seeking a slower pace of life in beautiful surroundings.

How Much Does Insurance Cost in Bonanza?

Here are the average insurance costs for popular policies in Bonanza, with typical price ranges for each. Rates may vary based on individual factors, coverage options, and the local environment. Castle Rock Insurance can provide personalized quotes and expert advice tailored to your needs.

• Auto Insurance: Average Cost: $900 – $1,600 per year
Factors influencing premiums: Driving history, vehicle type, coverage levels, and credit score. A clean driving record and safer, newer vehicles typically result in lower rates.

• Home Insurance: Average Cost: $1,200 – $2,500 per year
Factors affecting rates: Home value, location (proximity to natural hazards like wildfires or snow), the home’s age and condition, and the level of coverage selected.

• Renters Insurance: Average Cost: $150 – $350 per year
Variables include property coverage, liability protection, and optional add-ons like coverage for high-value personal items or outdoor equipment. Location and the size of the rental affect pricing.

• Condominium Insurance: Average Cost: $300 – $850 per year
Considerations for premiums: Coverage for personal belongings, liability, and any specific HOA insurance requirements. Coverage for the condo’s exterior may also impact the cost.

• High-Value Home Insurance: Average Cost: $3,000 – $12,000+ per year
Influencing factors: Property value, location (including risks such as wildfires or flooding), security features (alarms, surveillance), and custom coverage for luxury items or unique home features.

For tailored coverage options and competitive rates, Castle Rock Insurance is ready to assist Bonanza residents with customized advice and insurance solutions.

Get an Insurance Quote to Stay Protected in Bonanza

Castle Rock Insurance is the ideal choice for personal and residential insurance in Bonanza. As a local, independent broker, they work with over 20 carriers to provide a wide range of policy options tailored to the needs of residents. Castle Rock Insurance offers discounts for bundling policies, mature drivers, and homes or vehicles equipped with security features. Their personalized approach ensures that each resident receives customized, affordable insurance solutions that meet their unique needs. With expert guidance and a deep understanding of the Bonanza community, Castle Rock Insurance is the trusted partner for protecting your home and lifestyle.