Australia Storm BookAfter The Storm - 11
Flood Insurance and Credit for Disaster Victims
GeneralLoss due to flooding is not covered under most homeowner's insurance policies. Some people are fortunate enough to live in a community participating in the National Flood Insurance Program, in which case they can be protected against hurricane property damage. For flood damaged hurricane victims without insurance coverage, there may be loans and financial assistance programs available. Contact the Disaster Field Office set up in your community.
TipsThe Red Cross grants assistance, depending on the availability of funds, for immediate building repairs and living expenses when no other immediate assistance is available.
Merchants and dealers may extend credit for feed, equipment, and rehabilitation of buildings and land.
Small Business Administrations may offer medium- and long-term loans for rehabilitation on non-farm homes and small businesses. Interest rates are moderate.
Commercial and Federal land banks may offer loans with moderately low interest rates for home repairs, improvements, land equipment, and livestock.
Insurance companies may offer long-term loans at relatively high interest rates for home repair, improvements, land equipment, and livestock.
Part Of Page 12 |