Save Money on Colorado Flood Insurance

Understand your options for Colorado Flood Insurance – Explained by real flood experts – the Flood Nerds

Better Flood Insurance is the best shopper for you.

I’m Robert Murphy, the Head Flood Nerd at the Colorado-based Better Flood Insurance Agency.  We Flood Nerds love our Colorado home and we love to shop for flood insurance and save people money. If you’re tired of rising premiums or just need cheap flood insurance fast, let the Colorado Flood Nerds find you the best coverage and price.

Colorado Homeowner’s Insurance Does NOT Cover Flooding

The average Colorado homeowner’s policy is written through Farmers, State Farm, Allstate, or Progressive. These policies protect your home from fire, wind, and theft. But they don’t cover damage from flooding.

Go ahead, ask your Colorado homeowner’s insurance agent to add a flood endorsement to your policy and watch them laugh. But it’s not funny.

In Colorado you get flood coverage by purchasing a separate flood insurance policy. Problem is, most homeowner’s insurance agents don’t understand Colorado flood insurance. They’ll just plop you into the National Flood Insurance Program (NFIP). It’s the easiest route for them, but usually the most expensive for you. Flood Nerds are Colorado Flood Insurance Experts. We always find you the best coverage and rate and the search is free.

Get a Free Quote for Colorado Flood Insurance from a Flood Nerd

Do You Really Need Colorado Flood Insurance?

Colorado is either flat or covered by mountains and there’s no ocean in sight. Do you really need flood insurance in Colorado? It doesn’t flood in Colorado, right?

Heck No!

The 2013 Colorado floods resulted in estimated damage of over $2 billion. That’s not chump change. Too many people think if they aren’t in a high-risk flood zone they don’t need coverage. And they find out they’re wrong the hard way.


“The weather man is always right – said no one, ever.”


Boy isn’t that the truth. Especially in Colorado. Colorado gets all the precip types: rain, sleet, snow. And then it all melts. The creeks and rivers rise. Sometimes they rise too much. Flooding!

Even if you are in a low-risk area you aren’t in a no-risk area. That’s because 20% of all flooding events in the US every year happen in low-risk areas.

Did you think about buying flood insurance when you bought your house but said “I must not need it because the lender didn’t require it”. Maybe the real estate agent told you flood insurance wasn’t necessary or you think you are flood-proof.

Ever see a big storm coming and think about the risk of flooding? Maybe you didn’t flood this time, but what about the next?

Just because you are in a low-risk area doesn’t mean you have no risk of flooding.

The feds have been collecting flood data for the last 50 years. This data shows that recent major storms resulted in flooding in low-risk areas. And 90% of people with homes that were flooded didn’t have flood insurance.

 Don’t buy the “low-risk” lie – buy flood insurance!

Cover My Ass-ets with Flood Insurance Now!

What Happens If You Have a Flood But Not Flood Insurance?

This one is easy! When your home is damaged by a flood and you don’t have flood insurance you are stuck paying for the damage.

Flooding is one of the most expensive causes of damage to repair. It can cost $40,000 to $90,000 to fix the house. That’s not including the contents.

 Maybe you are betting the government will step in and help.

 Ha!

 That’s another lie.


“The nine most terrifying words in the English language are:
I’m from the Government, and I’m here to help.”

Ronald Regan, former California Governor and President of the US

For you to get that government “assistance” in Colorado, this is what must happen:

√  The Governor of Colorado must request a federal declaration of disaster.
√  The President must declare the area a disaster area to make federal assistance available.
√  You must apply for that assistance.
√  Assistance will be in the form of a loan you MUST pay back.
√  That glorious assistance will be about $5,000.


Seriously.

You’ll land a loan of about $5,000 to cover the average $40,000 to $90,000 of damage.

Now you understand why so many properties are abandoned or foreclosed after having flood damage? 

Flooding is the number two natural disaster in Colorado, just after wildfire ~ If you don’t have flood insurance you face financial ruin.

So it is better to have Colorado flood insurance rather than bet on a government bailout.

Don’t gamble away your financial future. Get a flood insurance quote today.

Flood Maps in Colorado

Many Colorado flood zone maps are more than 40 years old.  Since then, areas have been developed and more pavement and buildings mean less ground to absorb water. Out of date maps are a real problem. The NFIP and all federally backed lenders rely on flood zone maps to assess risk, set premiums, and determine who is required to purchase flood insurance.

Bad Colorado flood zone maps leave property owners under or uninsured.

Colorado Flood Insurance rate maps

An outdated flood map that doesn’t reflect recent development puts you at risk for flooding without you knowing it.

Even FEMA admits that the flood maps only partially reflect the real risk.

Flood coverage gives you peace of mind and Colorado flood insurance rates aren’t as bad as you think. Colorado flood insurance averages between $405 – $700 a year.

 No matter what the map says, it’s better to have coverage and not need it than to not have coverage and wish you did.

Shop for My Colorado Flood Insurance Today

Flood Insurance Options in Colorado

Most homeowners, real estate agents, and lenders don’t realize you have many options when it comes to Colorado flood insurance. But the Flood Nerds know all about getting cheap flood insurance in Colorado. We know more than 5 Ways to Save on Flood Insurance.  There are basically two markets for Colorado flood insurance.

National Flood Insurance Program (NFIP)

The NFIP is run by the Federal Emergency Management Administration. This is the government option for flood insurance and many people think it’s the only way to get Colorado flood insurance. That’s because they held a 50-year monopoly on the market and their premiums reflect that dominance. 

Some insurance companies are just re-sellers of the NFIP policy. They sell you an NFIP policy with their insurance company’s logo on it. If you have Nationwide flood insurance, State Farm flood insurance, Progressive flood insurance or a policy by any other re-seller you just have NFIP insurance under a private skin. That’s NOT private flood insurance and it is NOT the way to save money on Colorado flood insurance. Is your current policy through a re-seller? Check out this list of companies that resell the NFIP policy.

Not Private flood Insurance

Private flood insurance market

Lloyds Of London Better Flood InsuranceColorado isn’t stuck with the NFIP. There is a robust private flood insurance market and you can even tap into the Lloyds of London flood insurance syndicate for Colorado flood insurance.  Sometimes you can get real good rates with Lloyds because they spread the risk all over the world and the risk of the entire planet flooding at once is very small. We Flood Nerds like to say, “God said he wouldn’t flood the world again and Lloyds of London takes him at his word”. Now you know what makes a Flood Nerd snort and laugh.

But getting the Colorado flood insurance isn’t a laughing matter. There’s so many options and it’s easy to confuse the private flood insurance market with those NFIP re-sellers. But the Flood Nerds know the ins and outs of private flood insurance. Take the easy way out and just ask a  Flood Nerd to get you a free quote for cheap flood insurance in Colorado.

We shop all the options for your property in your area of Colorado to get you the best premium. We’ll even check out the NFIP to make sure that all the bases are covered.

Get a Free Quote for Colorado Flood Insurance from a Flood Nerd

The Cost of Flood Insurance in Colorado

One major factor in the cost of flood insurance for Colorado is the property location and the company that writes the coverage. Premiums for homes in low-to-moderate risk are lower and premiums in high risk areas are higher.  

Flood Zone X  – Colorado Low-to Moderate Risk Zone

Lenders don’t require flood insurance in this zone. But remember, floods happen in low risk zones, and the map may be old.

For properties in the X Flood Zone we usually suggest the government Preferred Risk Policy (PRP). The government subsidizes a portion of the premium and limits the coverage, so this keeps the rates low. 

The average cost for PRP flood insurance in Colorado with the maximum set limits in low risk flood zone areas is $405 – $700 per year

Flood Zone AE in Colorado

A higher risk flood zone is Flood Zone AE. If your property is in Zone AE, your lender will require you to have flood insurance. 

The cost of flood insurance in Colorado Zone AE really depends on factors that are unique to the structure. 

Flood Insurance Arvada Colorado Savings

As an example, let’s look at a house built on a basement in Arvada.The house either doesn’t have an Elevation Certificate applied or the Elevation Certificate shows that the lowest floor is 4 feet under the BFE for the area.

The policy is for flood coverage at the NFIP maximum of $250,000 for the building only. It doesn’t include contents and the deductible is our recommended amount of $5,000. 

Our example is a house in Arvada but the premiums will be the same as in Boulder, Denver, Wheat Ridge, Lakewood, Golden, Colorado Springs and many other Colorado cities and counties in AE flood zones. 

The NFIP option in Colorado Flood Zone AE is $2,541.00

Now, let’s look at the Colorado private flood insurance market and compare the options. The coverage and deductible are exactly the same.  

The Colorado Lloyds of London policy would be $849.75

This option is great but they won’t cover a property with a prior flood loss. But they will cover more than the NFIP in the basement and about $2,000 for loss of use. $2,000 for other structures doesn’t increase this coverage. They won’t ask for an Elevation Certificate.

Replacement Cost Value Coverage

Above we compared standard flood insurance at the NFIP maximum. But with private flood insurance, you can insure for the actual cost to replace the home. Let’s look at a policy written for the actual replacement cost. The $250,000 example we are using is probably a little low, but to maintain comparison, we will stick with that amount.

So for $250,000 RCV building coverage, 20% contents coverage, 10% other structures, and 10% loss of use with a $5,000 deductible the annual premium for replacement cost coverage is $1,637.70

I’m Confused! Get me a Flood Nerd Now to Shop Flood Insurance for Zone AE

Average Flood Insurance Costs in Colorado by Area

How much does flood insurance cost in Colorado? If you look at the number of NFIP policies and the combined premium you can see people pay way too much in Colorado for flood insurance.

Statewide, California has 21,035 NFIP policies in force at a total cost of $17,996,733. That’s an average of $855.56

Arvada has 417 flood NFIP Flood policies with $522,770 written premium, making Arvada’s average premium around $1,253. Arvada, the private market could be a better solution for you.

Aurora has about 302 policies with a premium amount of $187,491 written premium. Aurora typically has newer homes built to flood code so if you are paying more than $620 Aurora’s average you’re paying too much.

Boulder leads the state in flood policies with 4,456 and the premium on NFIP’s books is $3,401,225. The average in Boulder is $763. If you are paying more than this it would be a good time to let a Flood Nerd find you a better rate.

Longmont is a neat and growing area, more affordable than Boulder. There are 416 flood policies in this community with a total premium of  $438,324. The average NFIP policy is $1,053 the Flood Nerds can get that down to around $759 so let’s work together. 

Our wonderful Capitol Denver has a beautiful golden dome and 1,286 flood policies through the NFIP for a total of $1,245,194. Your average premium should be around $968. Paying more? Stop and get a free quote from the Flood Nerds here in Colorado.  

The city of Colorado Springs has 1,534 flood policies and El Paso County has 609 policies. Together you pay a combined NFIP premium of $1,647,270. Your average is $783. I see way too many people here overpaying.  Whether through the private market or using the NFIP properly, I know the Flood Nerds can save you money.

This city of Lakewood is where our home office is located. There are 380 NFIP policies that cost $329,271 in premium. The average premium in Lakewood CO is $866.50. Don’t pay more, let the Flood Nerds find you Better Flood Insurance.

Wheatridge has a clear creek and beautiful natural parkways. But 243 of your properties are in the mandatory flood insurance zone. $235,935 is what the government is charging for flood insurance bringing the average cost of flood insurance in Wheatridge to $970. I would be honored to find you a better deal.

La Plata County and Durango have 970 combined policies and pay an average of $711 for Colorado flood insurance. Get a quote for a lower price with a Flood Nerd. 

Golden and Jefferson County Colorado combined have 549 NFIP active policies with an annual premium of $477,137. The average NFIP flood policy is $869. A private flood policy will cost less than this.  

Fort Collins is the nation’s best-mitigated community. Flood mitigation pays because it reduces premiums. Fort Collins has 375 policies that cost $220,182. This makes the average policy in Fort Collins Colorado $587. With the last major Northern Colorado storms that caused flooding, not a single property in the high risk zone flooded. Unfortunately, that water had to go somewhere. So the low and moderate risk zones flooded. Those people in the low-risk zone thought they were safe. Not! A preferred rate flood policy for this area is about $500. Get a preferred rate policy from a Flood Nerd at Better Flood Insurance. 

Larimer County and the City of Loveland were inundated in 2012 by the Big Tompson River. That was considered a “100-year flood” but that area had just flooded 38 years prior. There are 697 flood policies in this area and the average flood insurance policy with the NFIP in Loveland or Larimer County is $1,106. 

Steamboat Springs has beautiful aspens in the fall. They also have 290 flood insurance policies and cost a total of $218,658. The average flood insurance policy in Steamboat spring $753. Don’t pay more, get a free quote from a Flood Nerd at (866) 990-7482.

The Town of Telluride is cute, quaint and home to 465 flood policies that cost $307,376 for flood coverage. The average is $661 but too many people pay more. Private flood insurance can reduce your premium so you have more money for that new set of skis. 

The Town of Frisco, Dillon and all of Summit County has 380 NFIP flood paying properties with an average premium of $436. This number is artificially low because many homes don’t have a mortgage. If they did, the lender would require flood coverage. These property owners are gambling and the statistics are not in their favor. 

Arvada, CO
Average Cost of Flood
Insurance $1,253

Aurora, CO
Average Cost of Flood
Insurance $620

Boulder, CO
Average Cost of Flood
Insurance $763

Longmont, CO
Average Cost of Flood
Insurance $1,053

Denver, CO
Average Cost of Flood
Insurance $968

Colorado Springs, CO
Average Cost of Flood
Insurance $783

El Passo County, CO
Average Cost of Flood
Insurance $783

Lakewood, CO
Average Cost of Flood
Insurance $866

Wheat Ridge, CO
Average Cost of Flood
Insurance $970

Durango, CO
Average Cost of Flood
Insurance $711

La Plata County, CO
Average Cost of Flood
Insurance $711

Golden, CO
Average Cost of Flood
Insurance $869

Jefferson County, CO
Average Cost of Flood
Insurance $869

Fort Collins, CO
Average Cost of Flood
Insurance $587

Northern Colorado, CO
Average Cost of Flood
Insurance $1,106

Larimer County, CO
Average Cost of Flood
Insurance $1,106

Loveland, CO
Average Cost of Flood
Insurance $1,106

Steamboat Springs, CO
Average Cost of Flood
Insurance $753

Telluride, CO
Average Cost of Flood
Insurance $661
Frisco, CO
Average Cost of Flood
Insurance $436

Dillion & Summit Valley, CO
Average Cost of Flood Insurance $436

Canyon City, CO
Average Cost of Flood Insurance $1,433
Greeley & Weld County, CO
Average Cost of Flood Insurance $1239
Sterling, CO
Average Cost of Flood Insurance $1,634
Aspen, CO
Average Cost of Flood Insurance $900
Grand Junction & Mesa County
Average Cost of Flood Insurance $821
Estes Park, CO
Average Cost of Flood Insurance $649
 Gunnison, CO
Average Cost of Flood Insurance $886
Winter Park, CO
Average Cost of Flood Insurance $584
Manitou Springs, CO
Average Cost of Flood Insurance $1,829
Vail, CO
Average Cost of Flood Insurance $554
Basalt, CO
Average Cost of Flood Insurance $651
Douglas County, CO
Average Cost of Flood Insurance $463
Littleton, CO
Average Cost of Flood Insurance $1,189
Centennial, CO
Average Cost of Flood Insurance $524
Westminster, CO
Average Cost of Flood Insurance  $600
Broomfield, CO
Average Cost of Flood
Insurance $817
Boulder County, CO
The average cost of flood Insurance $910
Fremont County, CO
Average Cost of Flood Insurance $962
Garfield County, CO
Average Cost of Flood
Insurance 
$713

Made it This Far? Consider This About the NFIP

Wow! You are really interested in the average cost of Colorado flood insurance if you made it to the end of this page! So, here’s a closing thought about FEMA flood insurance.

The NFIP made flood insurance available to more than 20,000 communities in the United States. Awesome!  But, Colorado has a competitive private flood insurance market and when you know what you are doing, you can usually find better premiums than the government rate. 

For decades, the NFIP over-charged 50% of its policyholders and under-charged the other 50% all while racking up $42 billion in taxpayer-funded losses. If you overcharge half and undercharge the other half no one pays the right amount. Are you gambling you are in the undercharged half?

About 30% of NFIP claims payments go to the same 3% of insured repetitive loss structures year after year. This means that the other 97% of flood-exposed policyholders are footing that bill. They could have paid less and still netted larger claims payouts if they had been in the private flood insurance market. 

Don’t risk losing everything if you don’t have flood insurance. Don’t overpay for flood insurance.

Break Free of the NFIP - Get a Free Quote From a Flood Nerd