Celeb realtor Ryan Serhant says Florida’s $34B insurance crisis is ‘one of the greatest’ we'll see — says only 2%-4% of homeowners have flood insurance. How to get help if you’re not covered

Options for the uninsured

If FEMA declares a disaster in your region, you’re eligible for individual disaster assistance.

There are currently 30 counties in Florida in which FEMA has declared a disaster.

“FEMA grants a maximum of $33,000 a household for repairs,” home repair service Advanta Clean advises.

“You can use the money to rent a place to live if your home is unlivable, repair damage if uninsured, replace belongings and pay other related expenses including funerals and medical help.”

Outside of FEMA, you can get a loan to cover your personal property from the U.S. Small Business Administration (SBA), even if you’re not a business owner.

Homeowners are eligible for up to $500,000 to buy a new home or repair their primary residence, while renters and homeowners can borrow a maximum of $100,000 to replace their personal property.

You can’t get a loan to fix or replace a secondary home or vacation property, but rental properties are eligible under the organization’s business physical disaster loan program.

The first payments on the SBA loans are due one year after they’re granted, no interest accrues in the first year, and the interest rate won’t go above 4%.

There’s a 30-day waiting period from when you buy insurance to when the coverage from the policy begins.

So if you’re already experiencing flooding, it’s too late to buy insurance.

Stop overpaying for home insurance

Home insurance is an essential expense – one that can often be pricey. You can lower your monthly recurring expenses by finding a more economical alternative for home insurance.

Officialhomeinsurance can help you do just that. Their online marketplace of vetted home insurance providers allows you to quickly shop around for rates from the country’s top insurance companies, and ensure you’re paying the lowest price possible for your home insurance.

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Applying to FEMA relief with insurance

Some homeowners will need to submit an insurance claim before they can become eligible for FEMA disaster relief.

Some flood insurance policies may not cover the full extent of the damage to your property or personal possessions, in which case you may need to submit claim information to FEMA.

Additionally, submitting a regular home insurance policy that doesn’t cover flooding is enough to make you qualify for disaster assistance, as long as you’re in a disaster zone.

If you’re uninsured, carry your furniture to the highest point in your house and put drain pans under the legs of the furniture you can’t move, advises Advanta Insurance.

That will protect your furniture if you just get a couple inches of water.

A flood mitigation and restoration company can help make repairs when you’re ready to return to your residence.