Many homes hit by Colorado flooding are without flood insurance
DENVER, CO — Thousands of Coloradans who didn't buy flood policies for their homes, businesses or farms could be facing staggering costs to clean up or rebuild after last week's deadly and devastating floods, according to ABC News.
Those affected by the floods might be distressed to learn that aid from the government is limited and “focused primarily on getting them temporary help with renting a new place or paying for relatively minor repairs on their homes,” the article stated.
According to the article, those lacking flood insurance to cover bigger, longer-term costs, may have to settle for a low-interest government loan or community-based relief groups for assistance.
"It's really a heartbreaking situation for these people. A lot of people don't have the assets or the savings to repair their house," said Eric Weedin, an insurance agent in Larimer County whose agency has seen a spike in calls from frantic homeowners.
While more than 7,200 homes and businesses were damaged or destroyed in the hardest hit counties of Boulder and Larimer, fewer than 6,000 home and business owners in those two counties had flood insurance, the article noted.
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February 21, 2023