Flood insurance is a piece of protection that every homeowner should have. With flood insurance, you can quickly move to have your home repaired, even if you don't personally have the funds to do so.
However, limited income or a lack of information can leave a person unprotected. If you experienced water damage and your belongings aren't covered, you still have options. There are steps you can take to restore your home and make the recovery process easier even if you don't have the backing of an insurance company.
People often see Federal Emergency Management Agency (FEMA) representatives after large-scale natural disasters, such as a hurricane, helping people find temporary housing and even food sources. Consequently, some people are under the impression that the reach of FEMA stops with these services.
FEMA is also a source for homeowners in the event of a disaster. For example, if your water damage is the result of storm surge or heavy rains caused by an act of nature, FEMA may offer financial assistance to help you repair your home. However, some qualifications must be met first. A representative will be able to provide you with all the qualifying details.
Even if you don't meet the parameters of FEMA assistance, you might still be able to secure a Small Business Administration loan (SBA). These loans are administered under the backing of the SBA, but you do not have to be a business owner to qualify. You can use the money to make any necessary repairs to your home, including water removal and rebuilding if necessary.
While the loans do come with fewer costs than traditional loans, you will still need to qualify. Both your credit score and your debt-to-income ratio may be reviewed to determine your eligibility.
If you don't have insurance and you are concerned about cost, the best thing you can do is act fast. Water is powerful in that it can move in quickly. Water can also cause a great deal of damage quickly. The longer you wait to begin the flood mitigation and recovery process, the more damage you will face and consequently, the higher the cost of these services.
If mold sets in, the process becomes even harder and lengthier. Once you get the clearance that it's safe to enter your home, you should quickly assess the level of damage and contact a professional recovery team that can assist you with the restoration process.
A home flood is a devasting experience. Yet the experience is one that you and your family can move past. Take a brief moment to collect your thoughts and reach out to a water damage recovery service such as APR Emergency Reconstruction for assistance as soon as possible.