After hurricanes, the business of rebuilding lives means navigating the insurance claims process

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Florida News

Personal Insurance,Natural Disasters,General News

Now that the threat of Hurricanes Helene and Milton has receded, millions of homeowners and business-owners across Florida and the Southeastern U.S. are faced with traversing the often long and laborious process of using insurance to rebuild their lives.

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Rhoda Moehring, who turns 86 this month, says she doesn’t have a lot of faith that insurance companies will help her salvage the flooded rental homes she owns in the river town of Steinhatchee in Florida’s Big Bend. There are different types of policies that insure against damage. In the initial call, first focus on thoroughly understanding your policy, including coverage limits, deductibles and exclusions, so that you can do a rough calculation of what is covered and what deductibles are at play to decide if you should file a claim, experts said.

“If the house was simultaneously destroyed by flood and, concurrently wind, it’s not covered by private insurance,” Hornstein said. While it’s easy to get frustrated, adjusters are likely stressed too, said Lawrence White, an economics professor at the NYU Stern School of Business.

 

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