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<br /> <br />," ~'.",' '. .if(, t <br /> <br />. <br /> <br />. <br /> <br />.. <br /> <br />.241 <br /> <br /> <br /> <br />Colorado Water Conservation Board <br />Department of Natural Resources <br />1) 13 Sherman Street, Room 721 <br />Denver, Colorado 80203 <br />Phone: (303)866-3441 <br />fAX: (303) 866.4474 <br />www'GWcb.state.co.u5 <br /> <br />IDRAFTJ <br /> <br />aUIOwens <br />GOVt!t'nor <br />Cll!g E. Wakher <br />!>cecum Direct <br />Rod Kuha,ich <br />News contact: Larry Lang or Mark MatulikcwcB Dlre<lor <br />Daft McAulUfe <br />Oeptl'Y Director <br /> <br />NEWS RELEASE <br /> <br />March 19, 2001 <br />For Immediate Release <br /> <br />(303) 866-3441 <br /> <br />Spring and smnmer flood season will soon revisit the citizens of Colorado, <br />prompting the Colorado Water Conservation Board to issue its annual reminder that <br />individuals and business owners should consider purchasing federal flood insurance, if <br />they have not already done so. For example, according to Larry Lang at the CWCB n <br />Colorado experiences at least one 100-year flood event every year. n <br />Although Colorado's snowpacl< this year is lower than average, property owners <br />should be aware that Il10st flood-related damages are the result of floods caused by <br />sudden thunderstonus and spring snowmelt run-off. Colorado averages $14 million <br />annually in flood damages. Colorado currently has ]4,663 flood insurance policies in <br />force witlt a coverage of$1,993,400,900 (as of March 2001). You can purchase flood <br />insurance at any time. However, there is a 30 day waiting period after you've applied and <br />paid the premium before the policy is effective with the following exceptions: 1) if the <br />initial purchase of flood insurilnce is in connection with the making, increasing, <br />extending or renewing of a loan, there is no waiting period, and 2) if the initial purchase <br />of flood insurance is made during the one year period following the issuance of a revised <br />flood map for a community, there is a one-day waiting period. <br /> <br />First some mytbs about flood insurance. <br />I. You can't buy flood insurance if you are located in a high risk flood area. FALSE <br />2. Homeowners standard insurance policies cover flooding. FALSE <br />3. Flood insurance is available only for homeowners. FALSE <br />4. You can't buy flood insurance if your property has been flooded before. FALSE <br />