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- 2 - <br /> <br /> <br /> <br />Colorado currently has 18,333 flood insurance policies in force with a coverage of $ 3.81 billion (as of <br />March 3 , 20 0 8 ). It is also important to be aware that mapped floodplains only represent areas subject to damage <br />from the 100 - year flood . Floods can and do exceed this extent, and therefore property owners outside of the <br />mapped floodplains should consider protecting themselves also. Recent events provided perfect example s of how <br />even properties located outside of mapped 100 - year floodplains can be damaged or destroyed. Flood insurance is a <br />Call your <br />good investment because it is the best means for protecting your largest inve stment from flood loss. <br />insurance agent today . For more information, or to find out if your community participates in the NFIP, <br />contact the National Flood Insurance Program at 1 - 800 - 427 - 4661 for the names of local agents who handle <br />flood insuran ce policies or contact your local insurance agent. You may also contact the Colorado Water <br />Conservation Board at 303 - 866 - 3441 for additional assistance. <br /> <br />Frequently asked questions about flood insurance <br />Can I buy flood insurance in high risk areas? Yes. <br />Y ou can buy flood insurance no matter where you live in <br />your community as long as your community belongs to the National Flood Insurance (NFIP). There are currently <br />23 6 cities, counties, and towns statewide that participate in the NFIP. <br /> <br />Can I buy flood in surance if I live outside of the 100 - year floodplain? Yes. <br />You can buy flood insurance no <br />matter where you live in your community as long as your community belongs to the National Flood Insurance <br />(NFIP). There are currently 23 6 cities, counties, and towns statewide that participate in the NFIP. Flood insurance <br />is still available outside of mapped floodplains, and may be available for lower rates. <br /> <br />Does the 100 - year flood event happen only once every 100 years? No. <br />The 100 - year flood event is a frequently <br />misunderstood term. It indicates an event that has a 1% chance of being equaled or exceeded in any given year. A <br />100 - year flood could happen multiple times in one year, or it might not occur in 1,000 years. The term “100 - year <br />flood” simply refers to th e expected probability of the event occurring based on the best available information. <br /> <br />Is federal disaster assistance available to damaged buildings without flood insurance? Typically not. <br />Every <br />year around the country, many homeowners are dismayed to f ind out that federal disaster assistance falls well short <br />of providing enough relief to cover costs from damages. Federal disaster assistance is only available in the event of <br />a federally - declared disaster and, other than short - term living expenses, gener ally takes the form of low - interest <br />loans, which must be paid back. It should also be noted that while property damages due to flooding have been <br />recorded every year in Colorado, a federal disaster has not been declared since 1999. Flood insurance is the best <br />way to protect your property from floods. <br /> <br />Doesn’t my homeowners insurance cover flooding? No. <br />Unfortunately, many homeowners do not find out until <br />it is too late that their homeowner's policies don't cover flooding. Federal flood insurance protect s your most <br />valuable assets -- your home and belongings. <br /> <br />Is flood insurance only av ailable to homeowners? No. <br />Flood insurance is available to protect homes, <br />condominiums, apartments and non - residential buildings, including commercial structures. See you r insurance <br />agent for limits of coverage for each. <br /> <br />If my property has been flooded previously, can I still buy flood insurance? Yes. <br />It doesn't matter how many <br />times your home, apartment or business has flooded. You are still eligible to purchase flood i nsurance, provided <br />that your community is participating in the NFIP. <br /> <br />Is there any type of coverage for my basement under the NFIP? Yes, but limited. <br />Basement coverage extends <br />to cleanup expenses and items used to service the building, such as elevators, furnaces, hot water heaters, washers <br />and dryers, air conditioners, freezers, utility connections, circuit breaker boxes, pumps, and tanks used in solar <br />The policy does not cover the contents of a finished basement and improvements, such as <br />energy systems. <br /> <br /> <br />finished walls, floors and ceilings. <br />? ? <br />Flood Protection Water Project Planning and Finance Stream and Lake Protection <br />? <br />Water Supply Protection Conservation Planning <br />