The big melt is on across Colorado, increasing the threat of spring flooding, according to the Rocky Mountain Insurance Information Association. It’s also a wake-up call to homeowners and renters that they may not have considered separate flood insurance to repair damage and replace personal belongings, the association reminded.
“It’s estimated that up to 25 percent of flood claims are filed in lower risk areas,” said Carole Walker, RMIIA executive director. “So, all homeowners need to at least consider purchasing additional flood coverage.”
She noted that flooding is the most common natural disaster in the U.S. and during the past 10 years, the average flood claim has amounted to more than $33,000. Flood insurance is funded federally through the National Flood Insurance Program (NFIP) and each resident’s community must participate for consumers to be eligible.
Links to more information on flooding and flood insurance:
http://www.rmiia.org/Catastrophes_and_Statistics/Flood.htm and http://www.floodsmart.gov.
Source: RMIIA
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