Everyone Lives in a Flood Zone 

Protect What Matters

No Elevation Certificate Required

FEMA and Private Flood Insurance Markets

Everyone Lives in a Flood Zone 

Protect What Matters

No Elevation Certificate Required

FEMA and Private Flood Insurance Markets

Everyone Lives in a Flood Zone

PROTECT WHAT MATTERS

Protect Yourself With Flood Insurance

Flood insurance is available to homeowners, renters, condo owners/renters, and commercial owners/renters. Costs vary depending on how much insurance is purchased, what it covers and the property's flood risk.

RESIDENTIAL FLOOD INSURANCE

Just a few inches of water from a flood can cause tens of thousands of dollars in damage. From 2010 to 2014 the average residential flood claim amounted to more than $39,000. In 2014, the average flood insurance policy premium was about $700 per year. Flood insurance is the best way to protect yourself from devastating financial loss.

Home Flood Insurance
Longmont Insurance Bassett Insurance Group

HOMEOWNER

As a homeowner, it's important to insure your home and its contents. Depending on your property location, your home is either considered at high-risk or at moderate-to-low risk for a flood. Your insurance premium will vary accordingly.

Flood Insurance

RENTERS FLOOD

If you are a tenant, it is wise to insure your contents. The policy premium is based on several factors, including the flood risk of the building that you occupy.

CONDO/RENTERS FLOOD

If you rent or own your condominium unit, it is a good idea to purchase both building (if you own the unit) and contents coverage. If you are a tenant, contents-only coverage is available. The policy premium is based on several factors, including the flood risk of the building that you occupy.

COMMERCIAL FLOOD INSURANCE

At least 25 percent of businesses that close after events, like a flood, never reopen. From 2010 to 2014, the average commercial flood claim amounted to nearly $89,000. Flood insurance is the best way to protect yourself from devastating financial loss.

Commercial Flood Insurance
Longmont Insurance Bassett Insurance Group

Call Now For Your Free Quotes

303-776-7676

Since standard homeowners insurance doesn't cover flooding, it's important to have protection from the floods associated with hurricanes, tropical storms, heavy rains and other conditions that impact the U.S.

 

In 1968, Congress created the National Flood Insurance Program (NFIP) to help provide a means for property owners to financially protect themselves. The NFIP offers flood insurance to homeowners, renters, and business owners if their community participates in the NFIP. Participating communities agree to adopt and enforce ordinances that meet or exceed FEMA requirements to reduce the risk of flooding. Find out more about the NFIP and how it can help you protect yourself.

 

Learn about The NFIP Partnership.

 

Flood insurance protects two types of insurable property: building and contents. The first covers your building, the latter covers your possessions; neither covers the land they occupy.

 

Building coverage includes:

  • The insured building and its foundation
  • The electrical and plumbing system
  • Central air conditioning equipment, furnaces, and water heaters
  • Refrigerators, cooking stoves, and built-in appliances such as dishwashers
  • Permanently installed carpeting over unfinished flooring

Contents coverage includes:

  • Clothing, furniture, and electronic equipment
  • Curtains
  • Portable and window air conditioners
  • Portable microwaves and dishwashers
  • Carpeting that is not already included in property coverage
  • Clothing washers and dryers

The two most common reimbursement methods for flood claims are : Replacement Cost Value (RCV) and Actual Cash Value (ACV). The RCV is the cost to replace damaged property. It is reimbursable to owners of single-family, primary residences insured to within 80% of the buildings replacement cost.

 

All other buildings and personal property (i.e. contents) are valued at ACV. The ACV is the RCV at the time of loss minus physical depreciation. Personal property is always valued using the ACV.

 

Talk with Bassett Insurance Group today: 303-776-7676 or contact us to identify the best combination of coverage, value and price just for you.

 

 

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