Flooding after a fire: Your increased risk

Be prepared for what comes after a wildfire with flood insurance

Wildfires can dramatically alter terrain and vegetation, but did you know that they cause increased flood risks? Large-scale wildfires leave the land charred, barren, and incapable of it absorb water. This puts residents living in and around bushfire-affected areas at greater risk of flooding until vegetation cover is restored, which can take up to five years or more. We also know that in Colorado, floods can happen anywhere, anytime. Natural disasters such as storms, early thaws, or rising rivers often accompany, but not always. About 25 percent of all flood insurance claims come from outside high-risk areas.

Many homeowners do not realize that Homeowners’ basic insurance does not include flood damage protection, Flood insurance must be purchased as a separate document. The insurance department does not regulate flood insurance. FEMA administers the National Flood Insurance Program (NFIP), a federally subsidized program available to any property owner—homeowners, renters, condominium owners, and associations—whether the property is in a floodplain or not. National flood insurance costs about $1 per day, on average, depending on the location and type of coverage chosen. Usually, there is a waiting period of 30 days after applying and paying the first premium for the insurance to become effective. Coverage options include only the structure of the house or the inclusion of its contents as well.

Just an inch of water in your home can cause up to $25,000 in damage, soil and sediment from bare land. It could cause more. Flood insurance is provided by the National Flood Insurance Program (NFIP) It can help you protect the life you’ve built. The National Flood Insurance Program (NFIP) is sold through private insurance agencies like Bolder Insurance, so there’s no need to shop around for the lowest rate.

FEMA offers flood insurance rate maps (FIRMs) in www.floodsmart.gov. These maps help determine the amount of flood risk and whether flood insurance is required. You can view maps to determine if your property is in a flood prone area. You can also enter your address to get an estimated flood risk profile.

Contact one of our boldest insurance advisors about purchasing flood insurance to get the coverage right for you.

The information in this article is from FEMA and DORA

Disclaimer: Coverage analysis is in general terms and is superseded in all respects by insurance agreements, endorsements, exclusions, and policy terms and conditions. Some coverage described in this section may not be applicable in all states or may have to be modified to comply with applicable state law. Some coverages may have been removed or modified since this article was published. Please check with your local independent insurance agent for details.

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