Flood Insurance Waiting Period Reminder
For sixty days after the Waldo Canyon Fire, the National Flood Insurance Program (NFIP) waived the thirty day wait time for new flood policies. Since September, NFIP is no longer authorized to waive this wait period and have returned to the customary thirty day wait period for all new flood policies.
Even though it hardly seems like spring, afternoon thunder showers can begin any time starting after May 1. Their intensity usually continues to develop throughout the summer and into the early fall. Since the fire, Colorado Springs Together, the City, the County, and the local media have provided continual information to you about the heightened flooding risk that is likely to result from last summer’s wildfire.
If your home is at risk for floods based upon the information previously provided and you wish to obtain flood insurance to minimize the impacts of any covered flood losses, you should contact your insurance agent or company to apply for this coverage as soon as possible. With the 30 day wait period, your coverage will not start until after Memorial Day which, besides the symbolic start of summer, is also into the range of potential intense afternoon rain.
If you are still uncertain whether you should purchase flood insurance, please contact Colorado Springs Together who can direct you to persons who can assist you with more information on your respective locations recognizing that with the new flooding risks it is not always possible to predict where flooding will occur.
Bottom Line: you have a thirty day wait after you purchase your flood policy before coverage will commence. If you are at risk, you should consider making this purchase as soon as possible so you will have protection in place when the rains begin.
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Colorado Springs Together is an independent 501(c)(3) Non-Profit:
Colorado Springs Together is a community-driven volunteer effort, and is an independent 501(c)(3) non-profit organization. The team members are distinguished citizens, business professionals and dedicated public servants in the community, facilitating and coordinating a quick and effective rebuilding process for the neighborhoods devastated on June 26, 2012, by the Waldo Canyon Fire.
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