In September 2013, days of heavy rain sent water pouring out of the foothills and through Boulder. Thousands of homes in the city were damaged, and a lot of that damage landed outside the mapped floodplains, in basements and neighborhoods where flood insurance never crossed anyone’s mind.
So, do you need it? Not every home does, but more Boulder homes should at least look at Colorado flood insurance options than actually have it. Here are the myths our team hears most.
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“I’m not in a flood zone.” Boulder sits at the mouth of several canyons with Boulder Creek and a handful of smaller creeks running through town. Flood maps show the highest-risk areas, not the only ones. Water from a flash flood or backed-up stormwater doesn’t check a map first.
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“My homeowners policy covers it.” It doesn’t. Standard homeowners and renters policies exclude flood. Our Boulder home insurance conversations almost always include this point, because it’s the gap people are most shocked by after the fact.
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“I’ll buy it when the forecast looks bad.” Federal flood policies usually come with a 30-day waiting period before coverage kicks in, so by the time the rain is on the radar it’s too late.
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“It’s expensive.” Outside the high-risk zones the price often surprises people in a good way, and private flood carriers sometimes compete on price too. It’s worth a quote before you decide.
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“I rent, so it’s not my problem.” Your landlord’s flood policy, if they have one, covers the building. Your belongings need their own contents coverage, which you can add alongside renters insurance in Boulder.