How Much Is Flood Insurance in Colorado? Average Flood Insurance Cost and Coverage

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ByMark Fitzpatrick
Edited byKathryn Schroeder
ByMark Fitzpatrick
Edited byKathryn Schroeder

Updated: May 22, 2024

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The flood insurance cost in Colorado is determined by county and individual risk variables, including the design of your house and the frequency of flooding. Typically, floods are not covered by homeowners or renters insurance.

The Federal Emergency Management Agency (FEMA) estimates that just one inch of water can cause damages up to $25,000. Colorado has a 203% increase in properties at risk of a flooding event. Consider getting flood insurance even if your Colorado home is in a low-risk flood zone to protect yourself from the hefty costs of flood-related damage.

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Flooding can occur in high, medium and low-risk flood zones in Colorado, making flood insurance important for everyone.

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Given that flooding is often not covered by homeowners or renters insurance, it's crucial to have a policy for floods brought on by Colorado's frequent, intense rainstorms and other weather events.

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Several coverage options are available when purchasing a flood insurance policy, including coverage for the building only, for the contents only and for both.

Average Cost of Flood Insurance in Colorado

Many areas in Colorado are at risk of flooding, which could explain why the average annual cost of flood insurance is $993. Rates, however, might differ significantly based on your county’s flood rating and specific property risks. Those who live in flood-prone locations (moderate or high-risk) typically have to pay a higher rate for a policy.

Average Cost of Flood Insurance by County in Colorado

Average flood insurance rates in Colorado are more expensive than the national average. That may be due to Colorado having more flood zones with a high risk of flooding than other areas.

Bent County has the absolute cheapest premium at around $451 per year, while Gilpin County has the most expensive at roughly $3,313 annually. The average cost of flood insurance in each Colorado county is shown in the table below.

Colorado Flood Insurance Cost per County
ADAMS COUNTYAverage Cost$1,052
ALAMOSA COUNTYAverage Cost$588
BENT COUNTYAverage Cost$451
BOULDER COUNTYAverage Cost$953
CHAFFEE COUNTYAverage Cost$983

Companies That Offer Flood Insurance in Colorado

The NFIP is where many individuals purchase their flood insurance, but you can also purchase it from a private insurance provider. They often have an excess policy (supplemental coverage for a base policy) in addition to a base policy, which is similar to an NFIP policy.

Colorado residents that feel that the NFIP coverage is inadequate or are not part of an NFIP community should turn to a private company.

Private Flood Insurance Providers in CO and Their Contact Numbers

Neptune Flood


Aon Private Flood


Hiscox - FloodPlus


FloodSimple Insurance Services




Partner insurance companies of the NFIP in Colorado also provide flood insurance to residents. MoneyGeek collected a list of NFIP-affiliated insurance providers along with their corresponding phone numbers for your convenience.

NFIP-Participating Flood Insurance Providers in State and Their Contact Numbers

Allstate Insurance Company

(800) 527-2634

American Family Mutual Ins. Co

(800) 692-6326

American Nat. Prop. & Casualty

(417) 887-4990

American Strategic Ins. Corp.

(866) 274-8765


(800) 423-4403

Auto Owners Insurance Co.

Refer to the Agent locator

Bankers Insurance Group, DBA: First Community Insurance Company

(800) 627-0000

Farmers Insurance Group

(866) 865-2965

How to Purchase Flood Insurance and Its Coverage Requirements

Because there are no requirements, buying flood insurance in Colorado is simple. To get started, contact your insurance agent or the NFIP helpline at 877-336-2627. You can also reach out to a private company that offers flood insurance.

MoneyGeek advises buying your flood insurance coverage as soon as you can because the NFIP has a 30-day waiting period. And private insurance companies in Colorado could impose a waiting period of 10 days or longer. To make certain, consult your insurance agent.

What Does Flood Insurance Cover in Colorado?

Your structure and its contents are covered by a standard flood insurance policy in Colorado. Keep in mind that even one inch of water in your property could result in $25,000 in flood damages.

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It's important to understand that when discussing flood insurance, the term "flood" refers to a natural event rather than flooding brought on by another occurrence that causes water damage, such as a broken pipe or leaking appliance.

Flood insurance does not cover swimming pools, decks, money, documents or basement items. A flood insurance policy also does not cover damage to a vehicle because of flooding. To protect your car, purchase comprehensive coverage in your auto policy.

Flood Insurance Building Coverage

One element of a typical flood insurance policy is building coverage. It covers damage to your home's actual structure, such as:

  • Foundation walls
  • Electrical systems
  • Plumbing systems
  • Furnaces, central heating and air conditioning
  • Built-in appliances
  • Permanent carpets
  • Built-in furniture

In Colorado, you can purchase up to $250,000 of building coverage from the NFIP.

Flood Insurance Contents Coverage

Contents coverage is the part of a flood insurance policy that covers the cost of repairing or replacing your personal property. Some of the personal objects that flood insurance often covers are:

  • Clothing
  • Furniture
  • Electronic equipment
  • Washers and dryers
  • Artwork

An NFIP policy can have up to $100,000 of contents coverage.

Factors That Affect Flood Insurance Costs in Colorado

Prior to October 2021, the cost of flood insurance was only based on geography and the flood risk map. You can see the historical flood risk of your Colorado area with FEMA’s interactive map.

El Paso County has seen the most flooding events in Colorado — 106 — since 1996, according to FEMA data. The counties in Colorado that have never experienced a flood are Lake County, Mineral County, Conejos County and Alamosa County. In El Paso County, flood insurance has an annual average cost of $1,004.

In Lake County, Mineral County and Conejos County, even without a history of flooding, average annual costs are more, $1,568, $1,444 and $1,978, respectively. In Alamosa County, residents pay substantially less at around $588 a year.

Risk Rating 2.0

A new risk rating system, Risk Rating 2.0, was implemented by FEMA in October 2021. Along with mapping flood zones, this approach assesses specific property risks, such as the building's foundation, structure, elevation, and replacement and repair costs.

Risk Rating 2.0 offers a premium computation that is more specialized than the previous method. Your flood insurance premium in Colorado, however, is still greatly influenced by where you live. The following is a breakdown of some of the flood insurance cost factors in Colorado.

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    Flood Risk

    Colorado has flood-prone areas, which makes flood insurance premiums more costly for those that live in them. You may also pay more or less than your neighbor, depending on your risk assessment.

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    Coverage Type

    The type of coverage you choose will impact your cost; more comprehensive coverage will result in a higher premium. The county you live in in Colorado will also affect the coverage.

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    Your premium may be less expensive if you choose a high deductible, but you will be responsible for paying it when you file a claim. Typically, a flood insurance deductible is $1,000 to $10,000.

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    Age of Structure

    Your building's age is significant, too. People who reside in older buildings often pay a higher insurance premium.

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    Structure Design

    Your flood insurance cost is affected by the construction materials and structural layout of your home.

Do You Need Flood Insurance in Colorado?

Most renters and homeowners insurance policies do not include flood coverage. But, there are benefits to buying flood insurance. If your home floods and a presidential disaster proclamation has not been issued, providers must still pay the claim. The usual household grant amount from the federal government for disaster relief is $5,000 — the expense of flood damage easily exceeds that limit, and a flood policy pays much more.

Even those who reside in low- or moderate-risk areas should consider buying flood insurance in Colorado since every property is susceptible to flooding. Those who have a government or private lender mortgage and reside in a high-risk flood zone must get flood insurance.

In general, flood insurance provides policyholders with an additional level of security.

Frequently Asked Questions About Colorado Flood Insurance

To help you understand the basics of flood insurance in Colorado, MoneyGeek has provided answers to the most frequently asked questions below.

What is the average cost of flood insurance in Colorado?
Which companies offer flood insurance in Colorado?
What kind of damage does flood insurance cover?
What affects flood insurance rates in Colorado?

About Mark Fitzpatrick

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Mark Fitzpatrick has analyzed the property and casualty insurance market for over five years, conducting original research and creating personalized content for every kind of buyer. Currently, he leads P&C insurance content production at MoneyGeek. Fitzpatrick has been quoted in several insurance-related publications, including CNBC, NBC News and Mashable.

Fitzpatrick earned a master’s degree in economics and international relations from Johns Hopkins University and a bachelor’s degree from Boston College. He is passionate about using his knowledge of economics and insurance to bring transparency around financial topics and help others feel confident in their money moves.