The answer is no. Typical homeowner’s and commercial structure insurance policies do not cover flood damages.
A separate Standard Flood Insurance Policy is required to cover damages caused by surface water during a flood event. Buildings located within a 100-year flood plain are required to have flood insurance if they are financed with a federally backed mortgage or home equity loan. Flood policies can be issued for most structures and their contents, including site built, modular and manufactured single family homes, condominiums and commercial structures.
Programs in Cañon City
Cañon City participates in the National Flood Insurance Program’s (NFIP) Community Rating System (CRS) program. Because of this, citizens are eligible to purchase Standard Flood Insurance at a reduced rate. The average premium for a Standard Flood Insurance Policy in Cañon City varies. A 30-day waiting period is mandatory for new flood insurance policies. Your local insurance agent can provide information on specific rates and coverage.
It is important to know that you do not have to be located within the 100-year flood zone to qualify for a flood policy. Flood zones are always changing due to natural events and upstream development. It is recommended that if there is a potential for flooding in your area, you should take advantage of a Standard Flood Insurance Policy.