Homeowners with no flood insurance face staggering repair costs
Home in Weld County surrounded by flood water.
(Photo courtesy: AIRTRACKER7)
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Last Updated: 82 days ago
Thousands of Coloradans who don't have flood insurance could face staggering costs to rebuild after last week's devastating floods.
They may also be dismayed 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.
Flood insurance must be purchased separately from regular homeowner's insurance, which doesn't cover flooding.
For residents who lack flood insurance to cover bigger, longer-term costs, their only option might be a low-interest government loan or community-based relief groups.
More than 7,200 homes and businesses were damaged or destroyed by flooding in Larimer and Boulder counties, the hardest-hit areas of Colorado. But the Federal Emergency Management Agency says fewer than 6,000 people in those two counties had flood insurance.
It is still not known how many of the insured homes and businesses suffered flood damage.
Larimer County insurance agent Eric Weedin called it heartbreaking.
Copyright 2013 Scripps Media, Inc. The Associated Press contributed to this report. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.