Basic Flood Insurance Facts
Flood insurance is available regardless of whether or not the building is in a Special Flood Hazard Area (SFHA).
Areas outside of SFHA may be eligible for low-cost preferred risk policy (PRP).
- Standard homeowners’ insurance policies do not cover flood losses.
- Property owners can insure building only or building and contents. Renters can insure just their contents, even if owner does not insure the structure.
- There is a 30-day waiting period for flood insurance policies to go into effect; don’t wait until rainy season to get a policy.
- Flood insurance has limited coverage in basements; talk to your insurance agent about policy details, including exclusions/restrictions.
The City of Aurora participates in the National Flood Insurance Program (NFIP) Community Rating System (CRS) program which rewards our stormwater and floodplain management efforts by offering flood insurance discounts to certain policyholders. CRS discounts are available to policyholders located in a SFHA. Preferred Risk Policies (PRP) do not receive a CRS discount because these are already low cost policies.
Local insurance agents can sell a separate insurance policy under rules and rates set up by the Federal Insurance Administration. Any insurance agent can sell a National Flood Insurance Policy (NFIP), and all agents must charge the same rates. Ask your agent to call 800.427.3880 for more NFIP information. Premiums are set on a national basis and will not increase because you file a damage claim. There is a 30-day waiting period for flood insurance.
Additional flood insurance information, as well as details about evaluating and mitigating your risk from floods, is FloodSmart.gov. This program was created by the Federal Emergency Management Agency (FEMA).