Floods can happen anywhere. It’s an unfortunate fact that homeowners overlook this and do not realize they are vulnerable until it’s too late. Did you know that flood damage is not a covered peril on a Denver homeowners insurance policy? Since flooding is the most common and most expensive type of natural disaster across the country, it is essential you understand how to secure coverage.
Flood insurance is an insurance policy that kicks in when your home has been damaged by floodwater. This can include the unusual accumulation or runoff of surface waters, mudflows caused by flooding, and melting ice. Flood insurance is designed to cover direct physical losses and damage to your home and personal property. It helps you get back on your feet as soon as possible after suffering damage caused by flooding.
Flood insurance in Denver is available for homeowners, renters, condos, apartments, and commercial buildings. The building must be located in a community that participates in the National Flood Insurance Program (NFIP) to receive coverage.
Keep in mind that there is typically a 30-day waiting period between your application and the effective date of your coverage. Don’t wait until there’s a rainstorm ahead to purchase coverage.
