01/15/2025
As wildfires devastate Southern California, countless families & neighborhoods face unimaginable loss. Rebuilding will be a long journey, but there are immediate steps residents can take to start navigating the crisis.
The Blueprint shared actionable advice for those affected & I'm sharing directly from their email. If you know anyone who could benefit, let's come together and please share it with them:
1. Apply for disaster assistance through FEMA â Go to https://lnkd.in/gayQEVCG or download FEMAâs app and apply for individual assistance. Each household gets $770 whether you rent or own. To qualify, you donât need to have lost your home. Instead, you simply need to reside in a disaster zone. Although most of L.A. is considered a disaster zone, you can enter your zip code on the site to double-check.
2. File a claim with your renterâs or homeownerâs insurance â If you experienced any damage or loss, file a claim with your renterâs or homeownerâs insurance company as soon as possible. These are reviewed on a first-come, first-serve basis. If you can safely get back to your home to assess the damage, thatâs great. If not, just give an estimate and change it later. Whatâs imperative is that you file your claim quickly and secure your place in the queue.
3. File a claim with your fire insurance â If you have a separate fire insurance policy, file it immediately. To allay some concerns weâve seen on social media, we want to tell you that the California Insurance Commission https://lnkd.in/gM3MXwsg has âbanned insurance companies from canceling or not renewing policies for homeowners affected by the Palisades and Eaton fires for one yearâ backdated to October 9, 2024.
4. Use an SBA disaster loan if it makes sense in your situation â If you donât know already, the Small Business Administration (https://lnkd.in/gs4mZ4XW) provides low-interest rate disaster assistance/recovery loans. If youâve lost a home, the interest rate is about 2.5% on a home disaster loan, and 4% on a business disaster loan. Once approved, the SBA usually pays out within weeks as opposed to months, as insurance companies do. They pay up to about $500,000 to take care of your expenses. Weâre not mortgage lenders or advisors, so do your due diligence to make sure this option is right for you. If it does work, itâs a great option.
Here is another list of resources they shared in their email: https://lnkd.in/g4RQNMWv
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