Most Colorado Flood Victims Lack Flood Insurance

David Soleta and friend John Rice remove destroyed and contaminated walls from Soleta's father in law's home in Longmont, Colo. (AP Photo/Brennan Linsley) David Soleta and friend John Rice remove destroyed and contaminated walls from Soleta's father in law's home in Longmont, Colo. (AP Photo/Brennan Linsley)

With property losses estimated to total nearly $2 billion, the majority of Colorado flood victims face vast financial hardships ahead, according to an article by USA Today.

Only 22,000 homes and businesses in Colorado have flood insurance, according to the Federal Emergency Management Agency. Boulder County, one of the 17 counties hit hard by record-breaking flooding last week, has 4,779 flood insurance policies, FEMA says. That's only a small fraction of the 77,000 detached single-family homes in the county, according to Census data.

"These are rare events so people think, 'It's not going to happen to me,'" says Robert Hunter, director of insurance for the Consumer Federation of America. He estimates that 10 to 25 percent of Colorado homes in high-risk flood areas have coverage.

Read more: Most Coloradans Lack Flood Insurance


Resource Center

View All »

Integrated Content & Communications: A Key Business Issue For Insurers

Insurers are renewing their focus on top line growth, and many are learning that growth...

High Risk Insurance Coverage in the E&S Market

Experts discuss market conditions, trends and projected growth in a rapidly changing niche.

Top E-Signature Security Requirements

This white paper covers the most important security features to look for when evaluating e-signatures...

EPLI Programs Crafted Just For Your Clients

Bring us your restaurant clients, associations and other groups and we’ll help you win more...

Is It Time To Step Up And Own An Agency?

Download this eBook for insight on how to determine if owning an agency is right...

Claims - The Good The Bad And The Ugly

Fraudulent claims cost the industry and the public thousands of dollars in losses. This article...

Leveraging BI for Improved Claims Performance and Results

If claims organizations do not avail themselves of the latest business intelligence (BI) tools, they...

Top 10 Legal Requirements for E-Signatures in Insurance

Want to make sure you’ve covered all your bases when adopting e-signatures? Learn how to...

Get $100 in leads with $0 down!

NetQuote's detailed, real-time leads have boosted sales for thousands of successful local agents across the...

The Growing Role of Excess & Surplus Lines in Today’s...

The excess and surplus market (E&S) provides coverage when standard insurance carriers cannot or will...

Claims Connection eNewsletter

Breaking news on disasters, fraud, legal trends, technology, and CE initiatives for the P&C claim professional – FREE. Sign Up Now!

Claims-Handling Guidelines

Claims Magazine is providing the following free guidelines and regulations in order to help adjusting professionals stay abreast of each state’s unique property and casualty claim-handling requirements.

View our State Guidelines »

Advertisement. Closing in 15 seconds.