Many homeowners are unaware that their home insurance doesn’t cover flood damage. Flood insurance is one of the best ways you can protect yourself from flood losses.
Floods happen everywhere. Floods and flash floods happen in all 50 states. Any place can flood under certain conditions. If you live in a Special Flood Hazard Area (SFHA) or high-risk area and have a federally backed mortgage, your mortgage lender requires you to have flood insurance. If you live in a moderate to low-risk area, your flood insurance premium could be as low as $129 per year, including coverage for your personal property contents. You are eligible to purchase flood insurance as long as your community participates in the National Flood Insurance Program (most counties in Western Colorado participate in this program). Because there is a 30-day waiting period on new flood insurance policies, it is important that you act on obtaining coverage before the floodwaters start to rise!
You can purchase building and contents coverage through the National Flood Insurance Program. Contents coverage can include possessions such as furniture, clothing and other valuables, subject to policy limits and exclusions.