photo credit: Lauren Murphy
Something to consider, FEMA will not help you restore your vacation property. With the great floods that have devastated the Midwest, many Wisconsin homeowners were distraught when they discovered that FEMA would not help them replace or recover any of the costs associated with their resort homes.
The late spring and summer of 2008 hit the Midwest with torrential downpours which caused flash flooding, levees to break, entire cities to be washed out and homes were destroyed in the hundreds. Unfortunately, for the homeowners, many of these properties were secondary or vacation homes. FEMA’s policy is to provide assistance to those who are desperately in need, and this doesn’t include second homes. In fact, there is a rigorous approval process that all homeowners must go through and no one is guaranteed assistance.
This has angered many property owners, but the big picture is what really must be considered in times of crisis. With at least 12 counties in Wisconsin alone being declared disaster areas, there is much more at stake than vacation homes and the property they held. If you’re interested in protecting your vacation home or property then it’s up to you to take action and make sure your valuables are all as insured as possible. If you’re unsure of what insurance to take out on your property, primary or secondary, consult an insurance expert. As many in the Midwest can attest, a few dollars spent on extra insurance is nothing compared to the devastation a natural disaster can create.