If you live in the hurricane belt or in a flood zone and you can afford it, you likely have flood insurance. It is part of basic home coverage in the event that a hurricane or severe storm occurs.
As we’ve seen in Houston and Puerto Rico, among other places, hurricanes this year are catastrophic. This 2017 hurricane season contains the highest number of major hurricanes since 2005. The people who’ve lost their homes and belongings won’t be getting all of that back, despite having flood insurance.
With so many families to distribute aid to, FEMA (which runs the National Flood Insurance Program and still in debt from hurricane Katrina), is providing a fraction of the funds homeowners believed they would receive with flood insurance. It is a growing issue, one that will only get worse unless homeowners are aware of what is happening.
From your local insurance agent to adjusters and then FEMA, the process of insurance payouts is far more complicated than most homeowners realize. We’ve created a video to help you understand.
As contractors who travel to flooded towns to clean up the water and restore homes, we are generally paid with money coming from insurance checks. When insurance checks cannot cover the services we provide, homeowners, who’ve just lost everything, have to pay out of pocket, and sadly, many cannot afford it.