Shocking Truth You Didn’t Know About Flood Insurance And Why You Need It

Hey guys, Jason here with 303 Insurance Brokers. Hope you’re doing well today. I’m having an awesome day and share with you another super important insurance tip of the day. I’d want to talk about Flood Insurance.

Flash Floods In Colorado

If you’ve been paying attention to the news here in Colorado at all, you’ve seen that we’ve been having some flash flood issues, primarily throughout the foothills in the mountains of Colorado.

It is something that tends to follow times and periods where we have major wildfires is that with the trees and everything like that. Water comes through it makes the soil a lot more suitable to cause those flash floods, but it does bring up an important aspect of your home insurance.

2 Main Things That Are Excluded In Your Homeowner’s Insurance Policy

That’s what’s excluded from your homeowner’s policy. Two main things are always going to be excluded. 

1. Flood Insurance
2. Earthquake Insurance

One is flooding, any outside groundwater coming into your house is typically going to be excluded. If you live in a designated flood plain, you’re going to have to carry flood insurance through the federal government, through FEMA, through the N F I P Program. 

I could help anybody with that, but that’s normally a pretty small percentage, but anybody else, they typically self-insure that risk.

How Much Is Flood Insurance?

It is something that we can get if you’re not in a flood plain, but if you are worried about that outside groundwater coming in or that flash flood or that flood coming through, even though you’re not in a flood plain, we can normally get an insurance policy put together for you. $400 to $600 a year, maybe a little bit more, maybe a little bit less, depending on how much coverage and your specific location.

How To Protect Your Home From Flood and Earthquakes

But we’re always happy to help with that. As I said, most people choose to self-insure that, but it’s something that there’s coverage for one of the other big exclusions that we can also add coverage for. Does not happen in Colorado a lot but who knows, is earthquake coverage.

So once again, those are two very large excluded coverages from your standard homeowner’s policy. We can insure them separately. You’re going to pay a little bit more. A lot of people choose to self-insure those, which means they’re going to take care of that risk themselves. They’re not going to do that, but I can help you ensure both of those.

If you want to be extra cautious if you want to make sure you’re extra covered, feel free to reach out to me, Jason@my303insurance.com or 3035062755. Have a great day and we’ll talk to you soon.