Jon Jepsen - SentryWest Insurance
  • About Jon
  • Products
    • Business Insurance
    • Personal Insurance
    • Nonprofit Insurance
    • Beauty & Bodywork
  • Get a Quote
  • Service
  • Blog
  • Contact
  • FAQ

Insurance Artist Blog

Do I Need Flood Insurance?

7/21/2017

Comments

 
Picture


If you live in a 100-year floodplain and have a mortgage, you don’t have to wonder if you need flood insurance - it’s required as a condition of your loan.
​
If flood insurance is not required as a condition of your mortgage, you’re not obligated to carry it.

However, there are a few things that you should know:


  • Flooding can happen anywhere and anytime.
  • Even a minimal amount of flooding can have disastrous financial consequences. According to the National Flood Insurance Program, one foot of water can cause $27,150 of damage to a 1,000-squarefoot home, and the average flood claim is more than $38,000.
  • If you think a regular home hazard insurance policy covers losses caused by a flood or heavy rains, think again. You need a separate flood insurance policy to cover flood damage caused by a storm, hurricane, heavy rain or ineffective levee.
  • No matter how well you plan for a flood, the costs may be more than you anticipate. If you are not on solid financial footing with money set aside for emergencies, it may be better to get coverage. Flood policies in moderate- to low-risk areas could cost less than your monthly cellphone bill, and could save you a bundle if your home sustains damage.

​For more information about your flood risk and the potential cost of a flood to your home, go to https://www.floodsmart.gov/floodsmart/. Then contact me and we will make sure that your home is protected.
Comments

    Author

    Jon Jepsen, CIC
    ​Insurance Artist

    Categories

    All
    Beauty Salons
    Boats / RVs / Toys
    Business Insurance
    Cyber Liability
    Flood Insurance
    Health Insurance
    Homeowners
    Liability Insurance
    Nonprofit
    Personal Auto Insurance
    Property Insurance
    Renters Insurance
    Special Events
    Umbrella
    Workers Compensation

    RSS Feed


    Subscribe to Jon's Newsletter

Subscribe to Newsletter
Jon Jepsen, CIC - SentryWest Insurance
Jon Jepsen has been in the insurance industry since 1994 working as a broker, agent, and risk manager. As a specialist in property and liability exposures, he has become one of the premier experts on insurance and risk management issues pertaining to nonprofits, technology firms, beauty salons, art galleries, property managers, religious institutions, and the LGBT community.

Location

3860 S 2300 E
Salt Lake City, UT 84109
  • About Jon
  • Products
    • Business Insurance
    • Personal Insurance
    • Nonprofit Insurance
    • Beauty & Bodywork
  • Get a Quote
  • Service
  • Blog
  • Contact
  • FAQ