Three facts about flood insurance every homeowner in Littleton, CO should know
Did you know that flooding has been categorized as the no.1 natural disaster in the US? Floods are chaotic and have no boundaries, affecting every state, including Littleton, CO. They destroy homes, displace families, and devastate communities. Experts at Front Range Insurance Services advise residents to buy flood insurance even if their home is not marked as a high-risk flood area. It’s also essential to understand how flood insurance works and learn some facts to help protect your home. Here are three main facts you should know:
#Fact1: Homeowners insurance doesn’t cover floods
Home insurance covers water damage but not flood water damage. Damage caused by broken tap or frozen pipes can be covered under home insurance. Homeowners have to purchase flood insurance separately. Depending on where you live, your mortgage lender may also require you to have flood insurance.
#Fact2: Everyone lives in a flood zone
Floods are destructive—an inch of water is enough to cause property damage worth millions. That’s why every home or property owner in Littleton, CO needs to buy enough flood insurance. People who live in high-risk flood areas will pay more for flood insurance compared to people living in moderate and low-risk flood areas. However, there are specific measures every homeowner can take to prevent floods, like installing flood sensors, brick covers, and floorboards to keep floodwater out of your home.
#Fact3: Flood insurance has a 30-day waiting period
If you wait till floods hit your home to buy flood insurance, you will lose more than you thought you were saving. Flood insurance has a 30-day waiting period where a policyholder cannot file a claim until the 30 days are complete. If flooding occurred during the waiting period, you cannot file a claim.
Need help buying flood insurance? Our dedicated insurance professionals at Front Range Insurance Services are here to help you find a policy that takes care of all your needs. Call us for a chat today!