There may be exceptions to the usual 30-day waiting period.
DENVER – The Colorado Division of Insurance (DOI) is letting people in and around the Alexander Mountain Fire area know that not only is flood insurance something that homeowners should seriously consider right now, but that it may be possible for exceptions to be made to the usual 30-day waiting period for new flood insurance policies to go into effect.
In the aftermath of wildfires like the Alexander Mountain Fire, there is a greater threat of flooding because of the damage to the terrain as the fire has removed vegetation that would normally absorb rainfall and runoff. However, basic homeowners insurance does not include protection from flood damage, so flood insurance will have to be purchased to provide coverage for homeowners.
According to FEMA and the National Flood Insurance Program (NFIP), exceptions to the 30-day waiting period may be made provided that people buy flood insurance within 60 days after the wildfire, and the following conditions are met.
- The insured property is privately-owned, meaning that it is property not owned by a federal, state, local, territorial, or tribal government.
- Post-wildfire conditions on federal lands caused or worsened the flooding.
- The policyholder purchased the new, additional, or increased coverage either:
- before the fire containment date, or
- during the 60-calendar-day period following the fire containment date
Information on Flood Insurance
Contact your insurance agent about buying flood insurance. If you do not have an agent or your agent does not sell flood insurance, contact the NFIP at 800-427-4661 or go to floodsmart.gov to get the name of an agent in your area.
More information on flood insurance from FEMA and the NFIP can be found on FEMA’s “Flood Insurance” website, as well as the NFIP’s floodsmart.gov website.
Know that personnel from Larimer County Engineering will be present to provide guidance on NFIP at the Alexander Mountain Fire Disaster Assistance Center (DAC) occurring Friday, August 9 – Sunday, August 11, at the Ranch Event Complex, 5280 Arena Circle, South Hall, Loveland. More information about recovery and the Disaster Assistance Center can be found at Larimer County’s Alexander Mountain Fire Recovery website.
About the Division of Insurance:
The Colorado Division of Insurance (DOI), part of the Department of Regulatory Agencies (DORA), regulates the insurance industry and assists consumers and other stakeholders with insurance issues. Visit doi.colorado.gov for more information or call 303-894-7499 / toll free 800-930-3745.
About DORA:
DORA is dedicated to preserving the integrity of the marketplace and is committed to promoting a fair and competitive business environment in Colorado. Consumer protection is our mission. Visit dora.colorado.gov for more information or call 303-894-7855 / toll free 800-886-7675.
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