My Home Has Flooded but I Don't Have Flood Insurance! Now What?

5/26/2022 (Permalink)

This home had a lot of flooding after a recent storm. SERVPRO of Park Ridge was quick to start helping, and get all of the water out of the home.

My House Flooded, And I Don't Have Flood Insurance! Now What?

Many people aren't aware that standard homeowner's insurance policies typically don't cover floods. If floodwaters infiltrate your home in Park Ridge, IL, but you don't have flood insurance, you'll likely wonder if you'll have to pay for the restoration yourself. The good news is that all hope is not lost. There's a good chance you'll qualify for some type of financial assistance if you take the following steps.

1. Apply for an SBA Disaster Loan

The Small Business Administration provides low-cost loans, not only to businesses but also to individuals (owning a business is not a requirement). This assistance only applies to damage to your primary residence and only damage that your homeowner's insurance doesn't cover. These SBA disaster loans are the most common type of federal disaster assistance.

2. Check Into Local, County and State Government Services

In addition to federal aid, local, county and state government emergency management departments offer various types of help. They can often help you decipher your flood insurance coverage and apply for federal aid.

3. Reach Out to Nonprofit Organizations

The American Red Cross, United Way and other similar nonprofit organizations are constantly preparing for disasters to be ready to help at a moment's notice. They offer everything from food, shelter and clothing to flood damage restoration information, counseling and financial assistance.

4. Receive Assistance From FEMA

To receive a Federal Emergency Management Agency grant, the president of the United States must first declare the affected location a major disaster area. The county in which you reside must also be included in this area for the victims to receive assistance.

Whether your property is located on a flood plain or not, you always need to make sure you're prepared for storm damage. Fortunately, even if you don't have flood insurance, various types of assistance are available to help return your life to normal.