Stephanie and Sharon Epperson -
CNBC
Hurricane Ian is shaping up to be Florida's costliest since Andrew in 1992. Wind and storm surge damage in the state is estimated at $28 billion to $47 billion, according to a Sept. 29 CoreLogic estimate.
With that level of destruction, homeowners are advised to make any insurance claims quickly.
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“The problem with hurricanes is that hundreds of thousands of people can be affected, so it can take time to get the help you need,” explained certified financial planner Carolyn McClanahan, founder of Life Planning Partners in Jacksonville, Florida, who experienced the storm. hit Ian directly.
Take advantage of emergency resources
Turn to the Federal Emergency Management Agency, the Disaster Assistance Enhancement Program, and the American Red Cross, as well as state and local governments, for emergency help.
You can also find help in your community.
“Catastrophes unite.
People are very good at helping each other,” says McClanahan.
This family lost everything in Fort Myers Beach (a place that will have to be totally rebuilt)
Oct. 3, 202202:29
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"If you have the possibility to help, do it," he added.
"You may be the one who needs help one day," she recalled.
Contact mortgage and other lenders if you may have trouble making loan payments.
Prepare for insurance claims
If you are going to file an insurance claim, take an inventory of the damage before you start cleaning.
Make temporary repairs to prevent further damage, but don't make permanent repairs until you've been approved for reimbursement.
Keep a written record of everyone you talk to about your claim, including the date of the conversation and a summary of what was said.
And keep all the receipts.
Know your flood benefits
Flooding, including from storm surge, is not covered by most standard insurance policies.
Flood coverage requires a separate policy, either from the federal National Flood Insurance Program or from a private insurer.
There is a 30-day waiting period before flood coverage becomes effective.
Members of mediccorps.org search a home in Pine Island, Florida, whose resident is known to have stayed when Hurricane Ian slammed into Florida, but has not been heard from since, on Saturday, Oct. 1, 2022. Gerald Herbert /AP
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Auto flood insurance is an option within the all-risk part of the policy.
know your franchise
Many homeowners in Florida will face a "hurricane deductible," which is different from the standard insurance deductible.
It is usually a percentage of the value of the property.
“If you have a $300,000 home, you could have a $15,000 hurricane deductible before insurance starts paying,” said Bob Rusbuldt, CEO of Independent Insurance Agents and Brokers of America.
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After Hurricane Ian, Rusbuldt predicts it will be difficult for consumers to find homeowners insurance.
Many will now face even higher premiums and deductibles and may have to find a new insurance company if theirs pulls out.
Many Florida homeowners already have insurance through Citizens, Florida's statewide insurer of last resort.
