Congress established the National Flood Insurance Program (NFIP) in 1968 to provide flood insurance nationwide. Communities that participate in the NFIP, including unincorporated Boulder County, maintain floodplain maps and regulate development in floodplains. Learn more about the NFIP and its connection to the adoption of the new floodplain maps.
The NFIP aims to reduce future flood damage through floodplain management, and to reduce the impact of flooding on private and public structures by providing flood insurance. Communities that participate in the NFIP must adopt and enforce floodplain management regulations.
Flood insurance is recommended for everyone, especially for properties located in or near mapped floodplains. Flood insurance helps property owners, renters, and businesses recover faster when floodwaters recede. Most homeowners’ insurance does not cover flood damage.
Owners of property within the 100-year floodplain who hold a federally-regulated mortgage are required by law to have flood insurance. Even if not federally required, a lender can require flood insurance. Visit the NFIP website for key points on how flood insurance can help you.
The sooner, the better! There is typically a 30-day waiting period following the purchase of flood insurance. After the waiting period, your house is insured against damages resulting from a flood event, whether or not your house is located in the regulatory floodplain.
If you anticipate your property might be included in the FEMA regulatory 100-year floodplain now or in the future, obtaining flood insurance before the maps change may result in lower premiums. The NFIP offers a Newly Mapped discount for buildings located in the 100-year floodplain following a map update. Premiums then increase gradually—typically 18% per year—until reaching the full risk premium.
To purchase flood insurance, contact your current insurance agent. If your agent doesn’t carry flood insurance, you can request an agent referral by contacting the NFIP at 888-379-9531.
There are several methods to reduce insurance rates. One method is to mitigate risk – this may involve filling in basements, installing flood vents in the crawl space, raising the dwelling above the base flood elevation, or raising heating/cooling systems or other mechanical items. Other methods include increasing the deductible or, in some circumstances, applying for a Letter of Map Change with more precise information that shows your property or house is actually outside the floodplain.
In an effort to clearly communicate flood risk to individual property owners in accordance with requirements set forth in the Homeowner Flood Insurance Affordability Act of 2014 (HFIAA, Section 28), FEMA is reviewing the flood risk determination for every policyholder insured under the National Flood Insurance Program (NFIP) and contacting each policyholder to explain how much flood risk impacts insurance premium rates. If you received this letter, it was because your flood insurance policy was recently renewed. For more information, visit FEMA’s website.
