Be prepared for what comes after a forest fire with flood insurance
Forest fires can dramatically change terrain and vegetation, but did you know that they increase the risk of flooding? Large-scale forest fires make the ground charred, barren and unable to do so absorb water. This means that residents living in and around areas affected by forest fires are at greater risk of flooding until vegetation is restored, which can take up to five years or more. We also know that in Colorado, floods can happen anywhere, anytime. They often accompany natural disasters such as storms, early snowmelt or rising rivers, but not always. About 25 percent of all flood insurance comes from outside high-risk areas.
Many homeowners do not realize that theirs The basic home insurance does not include flood protection, and that flood insurance must be purchased as a separate insurance. The insurance department does not regulate flood insurance. The Federal Emergency Management Agency (FEMA) administers the National Flood Insurance Program (NFIP), a federally subsidized program that is available to all property owners ̵1; homeowners, tenants, tenant owners and associations – whether the property is in floodplain or not. National Flood Insurance costs about $ 1 per day, on average, depending on the location and type of insurance chosen. There is usually a waiting period of 30 days after application and payment of the first premium for the insurance to take effect. The choice of coverage includes only insuring the structure of the house or even including its contents.
Just one inch of water in your home can cause up to $ 25,000 in damage, and soil and sediment from bare ground can cause even more. Flood insurance provided by the National Flood Insurance Program (NFIP) can help you protect the life you have built. The National Flood Insurance Program (NFIP) is sold through private insurance agencies such as Bolder Insurance, so there is no need to look for the lowest price.
The Federal Emergency Management Agency (FEMA) offers flood insurance rate maps (FIRMs) at www.floodsmart.gov. These maps help determine the amount of flood risk and whether flood insurance is required. You can see the 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 Bolder Insurance advisers to purchase flood insurance to get the coverage that is right for you.
The information in this article is taken from FEMA and DORA
Disclaimer: The analysis of the coverage is in general terms and is replaced in all respects by the insurance contracts, recommendations, exceptions, terms and conditions of the insurance. Some of the coverage mentioned in this material may not be applicable in all states or may need to be modified to comply with applicable state laws. Some covers may have been removed or modified since the publication of this material. Contact your local Independent Bolder Insurance Agent for more information.