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.
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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.

Most people know that a homeowners or renter’s insurance policy is crucial when it comes to protecting your home from a fire or other disaster. However, if you want to safeguard your valuables from the unexpected, Jon Jepsen at SentryWest Insurance of Salt Lake City says there’s another important document you may be overlooking: a home inventory.

If disaster strikes and your home and belongings are destroyed, a home inventory makes the insurance claims process a lot simpler, and it helps you get your possessions replaced quicker. While creating this inventory may be a time-consuming task, it doesn’t have to be completely daunting. Check out the following simple tips for compiling your home inventory:

• Details, details, details. A home inventory includes a comprehensive list of all your belongings, along with receipts, photos, and descriptions.
• Divide and conquer. Instead of making one long list of your items, break it down by room and/or type of item, such as clothing, heirlooms, electronics, and jewelry. This will make the home inventory less overwhelming and decrease the chances that you’ll overlook something.
• Know what your stuff is worth. If you have antiques, family heirlooms, or other valuables that don’t have receipts, you may want to have them appraised in order to determine their value.
• Look behind closed doors. When taking your inventory, make sure you don’t overlook items that are stored in the closet, drawers, attic, or garage. Bicycles, holiday decorations, and sports equipment may be out of sight, but their cost adds up. Make sure you include everything – even if it’s in storage – on your list.
• Add it up. Once you have a full document of all your belongings, along with their values, add up all the items in your home and their total cost.
• Keep it safe. Store your complete home inventory with your insurance policy in a safe, easily accessible place, such as a fireproof box, safe deposit box, or other secure location.
• Take stock annually. Remember to review and update your inventory each year, or whenever you make a significant purchase, to ensure your new items are documented.

If you’re looking for a useful tool to help with your home inventory, keep an eye out for the new Trusted Choice mobile app, which includes a handy home inventory tool.  Available in the Android Marketplace and iTunes App Store in February 2012.  For help obtaining coverage for your posessions, contact Jon Jepsen at SentryWest Insurance in Salt Lake City, a Trusted Choice independent insurance agent.

Winter is fast approaching and it’s time to think about steps you can take to prevent a burst pipe. Did you know that an average claim for a burst pipe is $35,000? And that doesn’t take into account all of the variable costs of your time and resources.

When water freezes, it expands. That’s why a can of soda explodes if it’s put into a freezer to chill quickly and forgotten. It’s the same for water in a pipe. If it expands enough, the pipe will burst, causing water to escape and resulting in serious damage. An eighth-inch (three millimeter) crack in a pipe can spew up to 250 gallons of water a day. By taking a few simple precautions, you can save yourself the mess, money and aggravation that frozen pipes cause.

Before the Cold Hits

• Insulate pipes in crawl spaces and attic. These exposed pipes are most susceptible to freezing. Remember – the more insulation you use, the better protected your pipes will be.
• Seal leaks that allow cold air inside near where pipes are located. Look for air leaks around electrical wiring, dryer vents and pipes. Use caulk or insulation to keep the cold out and the heat in. With severe cold, even a tiny opening can let in enough cold air to cause a pipe to freeze.
• Disconnect garden hoses and, if practical, use an indoor valve to shut off and drain water from pipes leading to outside faucets. This reduces the chance of freezing in the short span of pipe just inside the structure.

When the Temperature Drops
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• A trickle of hot and cold water might be all it takes to keep your pipes from freezing. Let warm water drip overnight, preferably from a faucet on an outside wall.
• Open cabinet doors to allow heat to get to un-insulated pipes under sinks and appliances near exterior walls.

Before you Go Away (do you shut down a program location and/or your operations?)

• Set the thermostat in the property to no lower than 55°F (12°C).
• Shut off and drain the water system. Leave a faucet open on the outside of the structure. (Be aware that if you have a fire protection sprinkler system in the structure, it will be deactivated when you shut off the water.)

If Your Pipes Freeze

Don’t take chances. If you turn on your faucets and nothing comes out, leave the faucets turned on and call a plumber. If you detect that your water pipes have frozen and burst, turn off the water at the main shut-off valve in the structure; leave the water faucets turned on. [Never try to thaw a pipe with a torch or other open flame.]
If you would like to make sure you are adequately insured for damage resulting from frozen pipes, please contact Jon Jepsen of SentryWest Insurance.

Courtesy: Alliance of Nonprofits for Insurance