Lessons Learned about Flood Insurance in Utah

Recent flooding due to runoff from record snowpacks reminds us that Utahns often underestimate the likelihood and potential impact of flooding on their homes and families. With our increasingly unpredictable weather, now is the time for Utahns to rethink their need for flood insurance, and the M8 Insurance team serving Salt Lake City, UT, stands ready to serve your needs.

Lessons Learned and Takeaways in Utah

Utah has the second lowest flood insurance rate among homeowners in the fifty states. However, recent events show that many underestimate the risk of flooding in their area, and national studies show that flood risk is more widespread than is often communicated.

Following this spring’s flooding, Governor Cox and Utah’s Insurance Commissioner Jonathan Pike urged Utahns in flood-risk areas to consider acquiring flood insurance and to do so now due to the 30-day waiting period before flood insurance takes effect.

Fortunately, Utahns in communities participating in FEMA’s National Flood Insurance Program have access to lower-cost flood insurance because the national program spreads the risk nationally. Still, those in communities that do not participate in the program can buy insurance through the private market.

A second lesson is that disputes about flood claims commonly concern the extent of damage relative to pre-existing conditions. This situation reinforces the value of regularly documenting your belongings and home conditions using a smartphone or similar device to avoid potential disputes and ensure you receive full and fair treatment for flood, fire, or other claims.

Working with M8 Insurance

M8 Insurance proudly serves Salt Lake City, UT, homeowners for all their insurance needs and will work with you to create an insurance plan that protects your home and family against unforeseen events. Call us or stop by today to discuss your insurance options.