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<br />" <br />.,' <br />, <br /> <br />. <br /> <br />News Release <br /> <br />March 8, 2005 <br />For Immediate Release <br /> <br />News contact: Catherine Gonzales <br />Phone: (303) 866-2599 <br /> <br />2005 FLOOD SEASON IS APPROACHING <br /> <br />The State of Colorado experiences 100-year floods each and every year! Spring <br />flood season will soon revisit the citizens of Colorado, prompting the Colorado Water <br />Conservation Board to issue its annual reminder that individuals and business owners <br />should consider be aware of, prepare for, and insure against flood threats, The 2005 <br />snowpack is very high in certain areas of the state, which may increase flood risks related <br />to snowmelt. The March I, 2005 Snotel data provided by the Natural Resources <br />Conservation Service, which estimates snowpacks for the major watersheds of Colorado, <br />lists snowpacks of 153% of average in the San Miguel/San IuanlDoloresl Animas River <br />Basin, 149% of average in the Upper Rio Grande River Basin, and 146% in the Gunnison <br />River Basin, This is in addition to the National Weather Service's forecast for a wet <br />spring, especially in these southern watersheds, It is also important to note that <br />Colorado's worst flood events have historically occurred from spring general rainfall and <br />summer thunderstorms, This year's flood season also poses increased risk to those <br />properties located within and downstream of major wildfires that occurred over the past <br />three drought years, <br /> <br />. <br /> <br />Property owners in the high risk areas should be aware that for areas in the 100- <br />year floodplain, even minor rainstorms could bring streams out of their banks and cause <br />fluod-related ddiuages. Property o\vners' most reliable protection against flood losses is <br />flood insurance coverage, Most homeowner and casualty polices do not cover the peril <br />of flood, Flooding may also occur during very high rain events outside of the identified <br />100-year floodplain, Based on historical information extending over 100 years, Colorado <br />averages $52 million (in 2005 dollars) annually in flood damages. You can purchase <br />flood insurance at any time, However, there is a 30 day waiting period after you've <br />applied and paid the premium before the policy is effective with the following <br />exceptions: I) if the initial purchase of flood insurance is in connection with the making, <br />increasing, extending or renewing of a loan, there is no waiting period, and 2) if the <br />initial purchase of flood insurance is made during the one year period following the <br />issuance of a revised flood map for a community, there is a one-day waiting period. <br /> <br />Colorado currently has 15,377 flood insurance policies in force with a coverage <br />of $2, 73 billion (as of March 1, 2005). It is estimated that Colorado has over 250,000 <br />properties located in floodplains. It is also important to be aware that floodplains <br />only represent areas subject to damage from the lOO-year flood! Floods can and do <br /> <br />. <br />