CA training; Home Owners Insurance

Topic of Urgent Interest for Community Ambassadors:
Homeowners Insurance

The homeowners insurance situation in Colorado is becoming dire.

As a CWPP Community Ambassador you will probably get lots of "help me" types of questions. We are planning a Community Ambassador training on insurance issues, but before then, please see the information below. There is a LOT of info here... consume it in small bites and archive it for future reference.

MOST IMPORTANT:

Watch the insurance webinar from United Policyholders.

The webinar is about 50 minutes long, but please also watch the recorded Q&A which follows. Lots of great information there. Feel free to forward this info on to anyone who asks for help, whether they live in our Fire District or not. Fire knows no boundaries!

Link to United Policyholders webinar: https://uphelp.org/events/insuring-your-replacement-restored-home/

Perhaps the best proof we can give a potential insurer is this:

We are implementing our new Community Wildfire Protection Plan (CWPP)

We have Community Ambassadors for the 15 Plan Units within the Coal Creek Canyon Fire Protection District (CCCFPD)
- Those Ambassadors are working with the CCCFPD CWPP Implementation Committee to help residents implement the risk mitigation recommendations in our CWPP.
If we are taking action, each year we will have more concrete evidence of fire mitigation work being done District-wide.
- It is the Implementation Team and Community Ambassadors' job to inform and engage the CCC residents.
- It is up to residents to join us and take action to protect their properties and their communities.

Gossip...what we've heard locally:

Real estate sites like Zillow, Redfin, etc now have a fire risk indicator on all properties.

Find a house for sale on Zillow, scroll down past the mortgage calculator and near the end of the listing you will find the Climate Risks (flood, fire, wind, air, and heat factors.)
Prospective buyers can review this fire risk rating, insurance actuaries and underwriters surely use the source data as well.

Firewise USA site designation

Some insurance companies are giving policies to homeowners in the "high risk" Wildland Urban Interface, IF those communities are within recognised Firewise USA Community sites.

Two Plan Units within CCCFPD the boundary have this Firewise recognition, Blue Mountain and Crescent Park.
Consider applying for your Plan Unit. To qualify, you must:

Form a Firewise USA® board or committee. (Community Ambassadors and a few folks from your neighborhood.)
Obtain a wildfire risk assessment from the CSFS or your local fire department and create an action plan. (The CWPP serves this function.)
Hold a Firewise USA® event once per year. (Community Slash Day work event.)
Invest a minimum of $27.20 per dwelling unit annually in risk reduction activities. (This money can be offset through fundraising or grants.)
Apply for recognition using the Firewise USA® program management portal. The application can be started at any point in this process.

See link for more Firewise USA info:
- https://csfs.colostate.edu/wildfire-mitigation/colorado-firewise-communities/

Farmers and American Family are dropping lots of folks in the zip codes 80401 and 80403.

Allstate is currently picking up many of those policies, with the exception of "high-value" homes ($1 million and over.)

Colorado FAIR Plan

At some point we may have to resort to the newly established Colorado FAIR Plan (High Risk Insurance Pool) See links below.

Link to CO FAIR Plan:
- https://doi.colorado.gov/insurance-products/homeowners/renters-insurance/fair-access-to-insurance-requirements-fair-plan
- The Association established a public website and toll-free phone number (833)-554-5425 providing information about the FAIR Plan.
WHAT TO KNOW ABOUT THE FAIR PLAN:
- The coverage limit is $750,000.
  - Residents with homes valued at more than $750K will need to find co-insurance for coverage of the balance of their home's value.
- Enrollment in this plan should be a LAST RESORT!
  - This is uncharted territory!
  - In other states, government run homeowner insurance programs have been mismanaged, failed or gone broke.