You probably think that if you live in Denver or other areas of Colorado, you are safe from the threat of flooding. After all, Denver gets very little rainfall annually and is 5,280 feet above sea level. Yet over 2000 people in Denver live on a flood plain, and the area has been hit with damaging floods in the past.
The truth is that Denver residents have a greater chance of losing their homes to a flood than to a fire. The Colorado Water Conservation Board states that over the span of a 30-year mortgage, there’s a 26 percent chance that a home will flood but only a 1 percent chance it will burn.
As a Denver homeowner, it’s critical to know your flood risk to determine whether to purchase the necessary insurance to cover damages should a flood occur. FEMA recommends that all property owners carry flood insurance, regardless of their risk.
To that end FEMA offers a free flood map service to let you know whether or not you’re located in a flood zone and what level of insurance protection you need. The site has a tutorial on how to find your location on the map and then how to drill down to your particular flood risk. There are also links to various insurance agents as well as real estate/flood determination agents.
Our homes are susceptible to so many things beyond our control, but knowing the risks means we can take the proper steps to be covered in the event of a disaster. Checking out the FEMA site is a good first step.
Let the professionals at the Bandy Team help you buy or sell a Denver home, contact us for a no-obligation consultation. If you’re thinking about buying a home in Denver, we can show you some terrific properties in Denver, including homes in Denver Highlands and real estate in Washington Park (also known as Wash Park). You may also be interested in horse property in Franktown or homes in Parker, including a wide variety of homes in Canterberry and real estate in Stonegate.