This topic covers the personal coverages that sit alongside the homeowners and auto policies: flood and earthquake, mobile homes, watercraft, personal inland marine floaters, the personal umbrella, and the residual market for property. The national guide explains the forms. This page adds Colorado's rules, chiefly the Colorado FAIR Plan.

The national concepts in brief

• Flood is excluded from homeowners policies. It is insured through the National Flood Insurance Program (created by the National Flood Insurance Act of 1968) or private flood policies.
• Earthquake is also excluded. It can be added by endorsement or bought as a separate policy.
• Personal articles floaters and scheduled property endorsements list valuables individually. They provide broad coverage above the homeowners special limits.
• Watercraft policies cover hull damage and liability beyond the limited boat coverage in a homeowners policy.
• A personal umbrella adds excess liability over auto and homeowners limits.
• Identity theft coverage reimburses the costs of recovering from identity fraud.
• Mobile homes: in Colorado, the definition of homeowner's insurance expressly includes manufactured and mobile homes (C.R.S. 10-4-110.6), so the state's homeowners protections apply to them.

Colorado FAIR Plan

• Purpose: to provide property insurance, including commercial property, when coverage isn't available from admitted insurers (C.R.S. 10-4-1804(2)).
• Why it was created: the legislative declaration points to more frequent natural disasters, including major wildfires such as the 2021 Marshall fire, which put pressure on the property market (10-4-1802(1)). The plan was created by legislation in 2023.
• Membership: every admitted insurer that sells property insurance is a member as a condition of its authority. Members share the plan's expenses, income and losses (10-4-1803(5), 10-4-1804(1)).

Related Colorado rules

• Homeowners: wildfire-area underwriting limits and the 65% contents payment are covered in the homeowners guide.
• Auto: the residual market is the Colorado Automobile Insurance Plan, an assigned-risk plan that every auto insurer must join (10-4-412). It is separate from the FAIR Plan.

Exam traps

• The FAIR Plan writes commercial as well as residential property.
• FAIR Plan membership is mandatory for admitted property insurers, not voluntary.
• Flood is never in the homeowners form. Send flood answers to the NFIP or private flood.