There are many misconceptions about flood insurance and what it covers. While many homeowners understand that the National Flood Insurance Program (NFIP) handles this coverage in most areas, you may wonder where to get it. If you want to know more about flood insurance in Greeley, CO, turn to the helpful team at Maanen Insurance Group. We’ve compiled the three most common myths about flood insurance in the Rocky Mountain state to get you started. 

Myth #1: You Can Only Get Flood Insurance if You Live in a Floodplain

If you live in a floodplain, your mortgage lender will probably require you to purchase flood insurance. Fortunately, Greeley is a member of the National Flood Insurance Program (NFIP), meaning anyone living here can seek coverage through the organization. Keep in mind that it takes up to 30 days for coverage to kick in.

Myth #2: Homeowners Insurance Covers Flood Damage

In most cases, homeowners insurance won’t cover flood damage. Instead, you need a flood insurance policy that you can purchase separately. Speak with your agent to find the right coverage for your home or business. Because of a potential coverage delay, purchasing flood insurance as soon as you buy your home is a good idea.

Myth #3: If Your Property Has Previously Flooded, You Can’t Get Insurance

You can protect your business, apartment, or home against future flood damage, even if it has previously been damaged. Greeley, CO, and other member communities offer residents access to the National Flood Insurance Program (NFIP), so they don’t have to stress about potential damage from natural flooding or other events. 

You can’t always rely on FEMA to reimburse you, even if the government declares a national emergency. Contact the agents at Maanen Insurance Group to learn more about flood insurance coverage in Greeley, CO.