Courtesy of iii.org For those who do not have the right insurance, or who need help beyond their coverage, government programs can sometimes step in to help with post-disaster recovery. Here is a round-up of the most frequently asked questions about the disaster assistance offered by FEMA. Q. How do I apply for FEMA disaster assistance? A. You can apply at www.DisasterAssistance.gov or m.fema.gov, or call the FEMA Helpline at 800-621-3362. If you have a speech disability or hearing impairment and use a TTY, call 800-462-7585 directly. If you use 711 or Video Relay Service (VRS), call 800-621-3362. Q. What happens after I apply for disaster assistance? A. FEMA will mail you a copy of your application and a copy of Help After a Disaster: Applicant's Guide to the Individuals and Households Program that will answer many of your questions. If you do not have insurance: An inspector will contact you after you apply to schedule a time to meet you at your damaged home. If …
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Evaluating Business Interruption Insurance
Courtesy of iii.org Business interruption insurance can be as vital to your survival as a business as fire insurance. Most people would never consider opening a business without buying insurance to cover damage due to fire and windstorms. But too many small businessowners fail to think about how they would manage if a fire or other disaster damaged their business premises so that they were temporarily unusable. Business interruption coverage is not sold separately. It is added to a property insurance policy or included in a package policy. A business that has to close down completely while the premises are being repaired may lose out to competitors. A quick resumption of business after a disaster is essential. Business interruption insurance compensates you for lost income if your company has to vacate the premises due to disaster-related damage that is covered under your property insurance policy, such as a fire. Business interruption insurance covers the revenue you would …
After the Disaster-Beware of Fraud
Courtesy of iii.org Natural disasters (such as a flood, earthquake, hurricane or tornado) sometimes invite another type of disaster: “Storm Chasers” who try to profit from others’ unfortunate circumstances. These profiteers take many forms – from workers posing as qualified contractors to “volunteers” trying to help only themselves to lawyers and public adjusters offering to take over your claim. If you start having second thoughts about anyone who has offered assistance after disaster strikes, here are some tips to get you back on course: Never feel pressured to make a decision. While the need to recover quickly is understandable, do not succumb to a high-pressure sales pitch. If you’ve signed an agreement or contract, remember the Federal Trade Commission has rules protecting consumers that allow you to cancel a contract up until midnight of the third business day after entering into it. This applies to door-to-door sales contracts for more than $25, as well as sale …