If your home is in a FEMA high-risk flood zone (a Special Flood Hazard Area) and you have a federally backed mortgage, your lender will require flood insurance.
Lenders check the flood zone when you buy or refinance, and they can also require coverage later if a map update moves your home into a high-risk zone. If you’re outside a high-risk zone, flood insurance is usually optional, but it’s still worth considering in Colorado, where flash floods and burn scar flooding often happen outside mapped zones.
You can meet a lender requirement with an NFIP policy or, in many cases, an approved private flood policy. Because NFIP coverage usually has a 30-day wait, start early if you’re closing on a home.
Questions about your own policy? Johnson Insurance Agency in Englewood helps families and businesses across the Denver metro area and Colorado compare coverage from multiple carriers. Call us at 303-768-8130.
Related FAQs
Flood insurance covers direct physical damage caused by flooding to your home's structure and, if you buy it, your belongings. NFIP policies cover up to $250,000 for the building and ...
Flood insurance costs vary widely, from a few hundred dollars a year for many lower-risk homes to several thousand dollars for homes near creeks and rivers. Under FEMA's Risk Rating ...
It's worth considering. Nationally, more than 20% of NFIP flood claims come from properties outside high-risk flood zones. In the Denver metro area, flooding often comes from intense summer thunderstorms ...
