Ginevra Posted September 19, 2017 Share Posted September 19, 2017 Friend had serious roof damage due to Irma. Insurance deductable is $10K, which friend cannot afford. FEMA rejected petition for assistance because the friend has home owners insurance. What resources are available to assit? 1 Quote Link to comment Share on other sites More sharing options...
G5052 Posted September 19, 2017 Share Posted September 19, 2017 I saw an article that the Small Business Administration is offering low-interest, long-term loans. If their credit is good, a home equity loan might be a possibility. 2 Quote Link to comment Share on other sites More sharing options...
MotherGoose Posted September 19, 2017 Share Posted September 19, 2017 Not in Florida, but when we had hail damage to the roof, the insurance company wrote us a check. We didn't have to come up with deductible to get the money. Don't know if that's how it works there or if she will get enough to fix the problem. 2 Quote Link to comment Share on other sites More sharing options...
Guest Posted September 19, 2017 Share Posted September 19, 2017 Not in Florida, but when we had hail damage to the roof, the insurance company wrote us a check. We didn't have to come up with deductible to get the money. Don't know if that's how it works there or if she will get enough to fix the problem. Didn't sound like it. 1 Quote Link to comment Share on other sites More sharing options...
ktgrok Posted September 19, 2017 Share Posted September 19, 2017 yes, SBA loan is the best option. I have heard that if she is denied for that she can reapply for FEMA. Also, not blaming your friend, but as a PSA to everyone else, KNOW your hurricane deductible and ask your agent about lowering it if it is more than you can afford. It often doesn't cost that much more per month to get a much lower deductible. 7 Quote Link to comment Share on other sites More sharing options...
Lanny Posted September 19, 2017 Share Posted September 19, 2017 Your friend should also check the Deductibles on her Car Insurance and other Insurance. If she cannot pay the Deductible, she is in trouble, as she is in this case. Probably there is a Federal Law/Regulation that prevented FEMA from granting assistance to her, because she does have Homeowners Insurance? Possibly the Deductible is higher for Hurricane Damage in FL than for other damage, for example Hail Damage or a Fire? However, people in FL should be aware that sometimes Hurricanes move through there. She may need to get a loan from her local bank , to pay for the $10K Deductible? 2 Quote Link to comment Share on other sites More sharing options...
Guest Posted September 19, 2017 Share Posted September 19, 2017 yes, SBA loan is the best option. I have heard that if she is denied for that she can reapply for FEMA. Also, not blaming your friend, but as a PSA to everyone else, KNOW your hurricane deductible and ask your agent about lowering it if it is more than you can afford. It often doesn't cost that much more per month to get a much lower deductible. Yes, I agree. It is important to know what your worst-case scenario looks like. After a devastating hurricane is certainly not a good time to find this out. 1 Quote Link to comment Share on other sites More sharing options...
LarlaB Posted September 19, 2017 Share Posted September 19, 2017 (edited) Sorry never mind. Edited September 19, 2017 by LarlaB 1 Quote Link to comment Share on other sites More sharing options...
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