Colorado Flood Insurance: Complete Guide for Homeowners in 2024
Homeowners in Colorado at risk of flooding can purchase flood insurance from the National Flood Insurance Program (NFIP) or a private insurance company.
3+ years experience in insurance and personal finance editing
Katie uses her knowledge and expertise as a licensed property and casualty agent in Massachusetts to help readers understand the complexities of insurance shopping.
Updated December 6, 2024 | Reading time: 4 minutes
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Every county in Colorado — and 267 cities in the state — has flood-prone areas, according to the Colorado Water Conservation Board.[1] If you live in the Centennial State, it might be a good idea to purchase flood insurance because home insurance policies don’t usually cover flooding. If you have a mortgage on your property, your lender may even require flood insurance.
Here’s what you need to know about flood insurance, including how it works, how to purchase it, and what you might pay for a flood policy in Colorado.
Quick Facts
Flooding is the most common natural hazard in Colorado.
A flood insurance policy helps pay for flood-related damages to your plumbing, electrical systems, appliances, and personal items.
Flood insurance won’t reimburse you for temporary living expenses, cars, or detached property, such as decks and patios.
Cost of flood insurance in Colorado
The average cost of flood insurance in Colorado depends on several factors, like the flood risk in your area, the age and style of your home, and your deductible. Flood insurance prices in Colorado vary greatly. Average costs by county range as low as $473 to $6,537 annually for a policy from the National Flood Insurance Program (NFIP).
Residents of Adams, Broomfield, Teller, and Jefferson counties (low-risk areas) pay the lowest rates for flood insurance, while homeowners in Archuleta, Clear Creek, and Grand Ouray (high-risk flood zones) face the most expensive premiums.
Here’s a look at how your location affects flood insurance costs in Colorado.
County
▲▼
Annual Flood Insurance Cost
▲▼
Adams
$486
Alamosa
$537
Arapahoe
$598
Archuleta
$5,072
Boulder
$1,110
Broomfield
$473
Chaffee
$2,479
Clear Creek
$4,398
Conejos
$1,966
Costilla
$822
Delta
$2,328
Denver
$721
Douglas
$534
Eagle
$4,282
El Paso
$763
Elbert
$666
Fremont
$1,548
Garfield
$1,843
Gilipin
$1,884
Grand
$6,537
Gunnison
$3,888
Hinsdale
$4,023
Huerfano
$2,759
Jefferson
$697
La Plata
$2,829
Larimer
$815
Las Animas
$2,300
Lincoln
$1,241
Logan
$936
Mesa
$808
Moffat
$1,512
Montezuma
$4,599
Montrose
$1,423
Morgan
$2,005
Otero
$1,316
Ouray
$5,582
Park
$1,895
Phillips
$1,674
Pitkin
$3,465
Prowers
$1,520
Pueblo
$981
Rio Blanco
$1,012
Rio Grande
$3,544
Routt
$2,660
San Miguel
$1,650
Summit
$1,419
Teller
$648
Weld
$1,142
Do you need flood insurance in Colorado?
Many Colorado residents live in areas susceptible to floods. In fact, 267 Colorado cities — and every single county in the state — have flood-prone areas.
If your home sustains damage from a flood but you don’t have flood insurance coverage, you’ll have to pay for the repair and replacement costs on your own. Unless you have the funds saved, you risk going into debt to cover your losses. Your lender may ask you to buy a flood policy if you have a mortgage on your home.
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How to determine your flood risk
Federal Emergency Management Agency (FEMA) flood zone maps gauge flooding dangers in various parts of the U.S. Known as Flood Insurance Rate Maps (FIRMs), these maps designate high-, moderate-, and low-risk flood zones throughout Colorado communities. The high-risk flood areas are Special Flood Hazard Areas (SFHAs), while the areas marked with a B, C, X, and D have a low to moderate flooding risk.[2]
Standard home insurance doesn’t typically cover floods. But if you invest in flood insurance, you may receive flood coverage for these components of your Colorado home:[4]
Electrical and plumbing systems
Foundation walls and staircases
Portable air conditioners
Permanent cabinets, bookshelves, and paneling
Carpeting
Curtains and blinds
Some appliances like stoves, fridges, washers, and dryers
Fuel tanks
Personal items such as clothing, furniture, and electronics
Valuables like original artwork and furs
What flood insurance doesn’t cover
Flood insurance is comprehensive but excludes these flood-related losses:
Temporary living expenses
Personal property outside of your home, such as fences, decks, patios, pools, hot tubs, and septic systems
Financial losses from business interruptions for business owners
Property items kept in the basement
Cars and other self-propelled vehicles
How to buy flood insurance in Colorado
If you want to purchase flood insurance for extra protection for your home, you can look into coverage from the NFIP. Visit FEMA’s NFIP database to learn whether your county participates in the program.[5] Once you confirm it does, you can search for an NFIP partner insurance company and buy your NFIP policy.
You can also buy flood insurance through a private insurance company with varying coverage amounts. Keep in mind that flood insurance policies have a 30-day waiting period in most cases, so you’ll probably have to wait 30 days before your policy kicks in. Plus, you can’t buy flood insurance immediately before or during a flood.
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Tips for filing a flood insurance claim in Colorado
Follow these steps if a flood damages your property in Colorado and you need to file an insurance claim:
Inform your insurance company
As soon as a flood affects your property, contact your flood insurer or insurance agent to begin the flood claims process. Keep your policy number close by.
Document the damage
Take photos and videos of your damaged property and personal belongings. You may also want to create a list of all the damaged or lost items and state when you bought them, as well as how much they ’re worth.
Fill out a proof of loss statement
An adjuster will work with you to complete a proof of loss form. Typically, this needs to happen within 60 days of the flood.
Wait for a payout
After you and your flood insurance company agree on the damage amount, you’ll collect a payout. If major flooding hits your area and many property owners are filing claims, this might take longer.
Colorado flood insurance FAQs
The following information can help answer your remaining questions about flood insurance for homeowners in Colorado.
What is the average cost of flood insurance in Colorado?
The average cost of an NFIP flood insurance policy in Colorado ranges between $473 and $6,537 annually, depending on the county you live in. But your flood insurance quote and flood insurance premiums depend on your unique situation. You might spend more if you choose private flood insurance instead.
Does Colorado require flood insurance?
No. Colorado state law doesn’t legally require flood insurance. But your mortgage lender might require it if you have a mortgage backed by the federal government and live in a high-risk flood area.
What is the highest amount of flood insurance you can get?
The NFIP has maximum coverage limits for flood insurance. You may secure up to $250,000 for the structure of your home and $100,000 for its contents. Private insurance companies may allow you to buy a flood insurance policy in Colorado with additional coverage.
What does Colorado flood insurance typically cover?
Flood coverage in Colorado may cover a variety of elements in your home, such as its electrical and plumbing system, foundation walls, and staircases. It can also provide protection for carpeting, curtains, blinds, some appliances, personal items, and valuables.
Anna Baluch is a Cleveland-based personal finance and insurance expert. With an MBA from Roosevelt University, she enjoys writing educational content that helps people make smart financial decisions. Her work can be seen across the internet on many publications, including Freedom Debt Relief, Credit Karma, RateGenius, and the Balance. Connect with Anna on LinkedIn.
Anna has been a contributor at Insurify since December 2022.
Edited byKatie PowersAuto and Life Insurance Editor
Katie PowersAuto and Life Insurance Editor
Licensed auto and home insurance agent
3+ years experience in insurance and personal finance editing
Katie uses her knowledge and expertise as a licensed property and casualty agent in Massachusetts to help readers understand the complexities of insurance shopping.
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