Your Options When Flood Insurance Isn’t One

4/10/2018 (Permalink)

Flooded Home during a natural disaster in St. George

Flood insurance is a necessity in many parts of the country, but unfortunately, it’s expensive and difficult to get. Because of this, many homeowners go without the much-needed protection. If you do not have flood coverage but were recently the victim of a costly flood, you may qualify for FEMA. There are a lot of misconceptions regarding the federal assistance program; to clear some of them up, this post answers some of the more commonly asked questions regarding the program:

• Who qualifies for the program?
• Does the program pay for all repairs or contract work?
• Do renters qualify?
• What kind of grants are available?

Who Qualifies for the Program?

Federal disaster assistance is available to individuals who live in disaster-designated areas and who sustained serious damage to their homes, vehicles and other property. These individuals typically live in a floodplain but not always. The government usually reserves funds for a small number of specified counties at one time. Check with FEMA.gov to see if St. Michael, is one of them.

Does the Program Cover All Repairs and Contract Work?

The grants given by the program may cover damages and repairs not covered by flood insurance but may not cover all damage. Whether or not a grant will help you restore your home to pre-flood condition really just depends on the extent of damage you’re dealing with.

Do Renters Qualify?

Yes, renters do qualify for FEMA grants. Renters may also qualify for an SBA disaster loan.

What Kind of Grants Are Available?

Several types of grants are available to help homeowners through such a difficult time in their lives. Grants may help to pay for uninsured and underinsured personal property losses and healthcare expenses, emergency home repairs, temporary housing and funeral expenses.

Even if you have flood insurance, it may not be enough. Federal disaster aid is in place to help individuals cover the cost of disaster-related expenses and to get back on their feet. Visit FEMA.gov to learn more.

For more information on St. Michael click here.