Flood Insurance

You may not be worried about flooding damage since you don’t live near a body of water or the coast. You may even assume your home is already covered against water damage by your home insurance policy. Flooding does happen, no matter where you are located, and you need to be prepared if it does happen. Your homeowner’s insurance doesn’t usually cover any damage caused by flooding and you need to purchase a separate policy. Statistics show that a home is three times more likely to have flood damage than fire damage during a typical 30-year mortgage. It only takes a few inches of water to damage the home and its contents. 

What Does Flood Insurance Cover in Colorado?

A flood insurance policy can give you coverage for both your home itself and your property, including furniture and other items that are damaged by floodwaters. When getting flood insurance, you have different coverage options. You can choose to just protect the structure itself, just your belongings, or both your belongings and the home. There are certain coverage limits available under a standard policy. Coverage can be limited to $250,000 for the home structure and up to $100,000 for contents coverage. If you need more coverage than this, there is the option to purchase an excess flood policy. We may have other options that will afford you more coverage but it all just depends on where your home is located and other underwriting guidelines.  Flood policies can have a 30-day waiting period, so you need to have flood coverage in place before the canal starts to flood!