Do you have flood insurance? Find out if your home is at risk

DENVER – Homeowners in Colorado are facing rising flood insurance premiums and in some cases, an increased risk of flooding.

Boulder resident Sally Shankman’s backyard is her sanctuary. But in 2013, flood waters ravaged Boulder County, including her backyard.
             
“It came straight over the irrigation ditch, all the way down Seventh,” she said.

The water has receded, but her flood insurance premiums have been increasing.

“It was noticeable, oh yeah, oh yeah,” Shankman said.

Most homeowner policies don’t cover flood damage. In addition, the federal government is the sole provider of flood insurance, meaning there’s no competition for your business.

Insurance experts point out flood insurance is getting more expensive in part because people just aren’t buying it.

“I think that everyone agrees, we are seeing an increase in severe weather, we’re seeing a big increase in flooding, but people still aren’t getting the assurance they need to protect themselves from flooding,” said Carole Walker, Executive Director of the Rocky Mountain Insurance Information Association.

As insurance rates rise, Walker notes the flood zones across our state our changing and there’s a chance your family’s home could now be in a flood plain.

Right now, the current flood maps are being reviewed, meaning your property could be at a higher or even lower risk.

To find out the risk of your property, you can easily enter your address in the FEMA locator here.

As for Sally, she’s staying put, knowing there’s a risk living so close to the water.

“It’s the sacrifice, but love this house and yard so much, we wouldn’t want to trade it.”