Most Homeowners Insurance Does Not Cover Flood Damage

11/30/2020 (Permalink)

Some Flooding Insurance Will Cover, Some Flooding It Won't; How Do You Know?

Did you know that most homeowners insurance does not cover flood damage?  Fema.gov is a very helpful resource that reminds us: “Flood insurance is a separate policy that can cover buildings, the contents in a building, or both, so it is important to protect your most important financial assets — your home, your business, your possessions.”

Rules for insurance do vary from state to state, however, flood insurance is the exception.  

Some policies will cover water damage if the damage comes from:

• Sudden & accidental damage from plumbing, heating systems, or air conditioning
• Sewer or drain backup

We at SERVPRO of Greater Boulder would like to share how to get flood insurance in Boulder County:

• Check whether your community participates in the National Flood Insurance Program (NFIP). Something especially important to consider if you have a home or business that was just affected by the Colorado wildfires.  The loosened soil makes your property more vulnerable to flash flooding and mudslides.  
• Find an insurance agent in the city of Boulder or surrounding cities in the county.  The NFIP sets the rates, but doesn’t actually sell the insurance; you’ll have to go through an agent to do that.