PERSONAL INSURANCE
Flood Insurance
Flooding can happen far beyond the boundaries of a high-risk flood zone. Legacy can help Colorado homeowners, renters, and property owners explore coverage for damage caused by rising water.
UNDERSTANDING YOUR COVERAGE
Protection Homeowners Insurance May Not Provide
Standard homeowners and renters policies generally do not cover damage caused by flooding. A separate flood policy may provide coverage for your building, belongings, or both, depending on the policy selected.
What Flood Insurance May Cover
Building Structure - The insured building, foundation, walls, staircases, and other structural components.
Essential Home Systems - Electrical, plumbing, heating, air-conditioning, and certain permanently installed equipment.
Appliances - Certain refrigerators, cooking appliances, water heaters, and other covered household equipment.
Personal Property - Furniture, clothing, electronics, and other belongings when contents coverage is included.
Debris Removal - Certain costs associated with removing flood-damaged insured property.
Cleanup and Mitigation - Certain expenses involved in cleaning, protecting, or reducing additional covered flood damage.
WHO NEEDS FLOOD INSURANCE
Flood Risk Isn’t Limited to the Floodplain
A mortgage lender may require flood insurance for property in a designated high-risk area, but properties outside those zones can still experience serious flooding.
Colorado flood risks can include:
Heavy rain and flash flooding
Rapid snowmelt
Overflowing rivers, creeks, and drainage channels
Runoff from hillsides and neighboring properties
Wildfire burn scars
New construction and changing drainage patterns
Stormwater accumulation
Low-lying or poorly drained areas
Flood maps are an important tool, but they cannot predict every storm, drainage failure, or change to the surrounding landscape.
KNOWING THE LIMITS
Flood Policies Have Important Differences
Coverage can vary significantly between policies offered through the National Flood Insurance Program and those available through private insurers. Understanding the limits, exclusions, and waiting period is essential.
Waiting Periods - Coverage may not begin immediately after purchase, so it is important to consider flood insurance before a storm is approaching.
Basements and Below-Grade Areas - Coverage for finished surfaces, belongings, and improvements below ground level may be limited.
Additional Living Expenses - Temporary housing and other loss-of-use expenses may not be included in every flood policy.
Vehicles - Flood damage to cars and other vehicles is generally addressed through comprehensive auto coverage.
Earth Movement - Damage involving landslides, subsidence, or other earth movement may be excluded even when flooding contributes.
Moisture and Mold - Damage that could have been prevented through reasonable action after a flood may not be covered.
GUIDANCE FROM LEGACY
Understand Your Flood Risk
Your location, building characteristics, flood zone, coverage needs, and lender requirements can all affect your options. Tell us a little about the property, and a member of Legacy will contact you to discuss flood insurance.
Coverage descriptions are provided for general informational purposes only. Flood coverage, limits, conditions, exclusions, and waiting periods vary by policy and insurer. The terms of the issued policy control in the event of a claim. Coverage cannot be bound, changed, or canceled through this website or by submitting an online form.