Overview

Flood insurance is available for any property, regardless of whether it is located within a floodplain.

There is a 30-day waiting period before the NFIP coverage takes effect. Most standard homeowners' insurance policies do not cover flood damage. Do not wait for flood damage to occur.

The Federal Emergency Management Agency (FEMA) is working to clearly communicate the risk of flooding to individual property owners. The National Flood Insurance Program (NFIP) is a FEMA program that aims to reduce the impact of flooding on private and public structures. It does so by providing affordable insurance to property owners and by encouraging communities to adopt and enforce floodplain management regulations. Overall, the program reduces the socio-economic impact of disasters by promoting purchasing and retaining general risk insurance and, more specifically, flood insurance.

Flood insurance is required by lenders for structures in FEMA mapped 100-year floodplains. In Longmont, this includes St. Vrain Creek, Left Hand Creek, Dry Gulch #1, and Spring Gulch #1.

Flood Insurance Discount up to 25 Percent

Flood insurance is recommended for properties in areas that have the potential for flooding. The City of Longmont participates in the Community Rating System (CRS), a floodplain management effort that is part of the National Flood Insurance Program. Effective May 1, 2019, Longmont's CRS rating increased to Class 5.

A CRS Class 5 rating means:

• A 25 percent discount on flood insurance premiums for properties
• The discount applies to all current flood insurance policy holders and all new policies
• The discount is applied to flood insurance policies by an insurance agent, not by the City
• Contact your insurance agent to ensure the discount is applied to your flood insurance policy

To obtain and maintain a CRS Class 5 rating, the City of Longmont's floodplain management efforts exceed the minimum requirements of the NFIP. These include:

• Public outreach
• Floodplain mapping
• Higher regulatory standards
• Open space preservation
• Drainage system maintenance
• Watershed master planning
• Hazard mitigation planning
• Flood warning and response

FEMA Flood Risk Assessment Letters

FEMA is updating the National Flood Insurance Program’s pricing methodology to communicate flood risk more clearly, so policyholders can make more informed decisions on the purchase of adequate insurance and on mitigation actions to protect against the perils of flooding.

The 21st century rating system, Risk Rating 2.0—Equity in Action, provides actuarially sound rates that are equitable and easy to understand. It transforms a pricing methodology that has not been updated in 50 years by leveraging improved technology and FEMA’s enhanced understanding of flood risk.

The new methodology allows FEMA to equitably distribute premiums across all policyholders based on the value of their home and the unique flood risk of their property. Currently, many policyholders with lower-value homes are paying more than they should and policyholders with higher-value homes are paying less than they should.

The cost to rebuild is key to an equitable distribution of premiums across all policyholders because it is based on the value of their home and the unique flood risk of their property. This has been an industry standard for years.

FEMA is conscious of the far-reaching economic impacts COVID-19 has had on the nation and existing policyholders and is taking a phased approach to rolling out the new rates.

• In Phase I: New policies beginning Oct. 1, 2021 will be subject to the new rating methodology. Also beginning Oct. 1, existing policyholders eligible for renewal will be able to take advantage of immediate decreases in their premiums.
• In Phase II: All remaining policies renewing on or after April 1, 2022 will be subject to the new rating methodology.

For the latest information on Risk Rating 2.0, visit fema.gov.

For More Information

• Is your property at risk for flooding? Input your address on the Longmont Floodplain Inquiry Map to determine if your property is located within a regulatory floodplain.
• The Colorado Hazard Mapping Program (CHAMP) is remapping the 100-year floodplain of creeks affected in 2013, including St. Vrain Creek and Left Hand Creek. Read about the St. Vrain Watershed Risk Mapping Assessment and Planning effort >

• Floodplain map changes such as the ones detailed above can affect flood insurance premiums. Learn more.

• Help with floodplain information is available from Longmont's Floodplain Administrator. Floodplain information requests are responded to within 48 hours and an appointment to discuss in person can always be made.