Financial Situation Could Be Affected by a
may not be immediately available following a major
disaster. Without proper planning, the financial impact
of an earthquake on you and your family could be
devastating. Although many things are out of your control
after a quake, your ability to recover financially
depends on a number of factors that you can control.
Prepare and follow a financial disaster recovery plan and
you will be more likely to recover successfully. Consider
be fooled! -- Myth number 3
INSURANCE WILL COVER ANY DAMAGE TO MY HOME OR BELONGINGS
CAUSED BY AN EARTHQUAKE."
residential property insurance policies do not cover
damage resulting from earthquakes. A separate earthquake
insurance policy is one way to protect your home and the
investments you have made in personal belongings.
Investigate your options carefully to ensure that your
assets are sufficiently protected see
you have money, food, and
operations may be disrupted, limiting access to cash,
ATMs, or online banking.
drug, and other retail stores where you shop may be
closed or unable to restock shelves.
This store was temporarily closed following the 2001
magnitude 6.8 Nisqually, Washington,
courtesy of The Olympian, Olympia,
bank was damaged in the 2001 magnitude 6.8 Nisqually,
Washington, earthquake, requiring customers to seek
services elsewhere. (photo courtesy of The Olympian,
you be able to recover financially?
are still responsible for your existing debts, such as
mortgage, lease, car, and credit-card payments.
may not have access to important financial
assets are at risk without sufficient earthquake
you have earthquake insurance and experience loss,
begin working with your insurer to file a claim as
quickly as possible.
your insurance cover your losses?
and renter's insurance policies do not cover losses
related to earthquakes.
separate earthquake insurance policy is one way to
help protect your home, in addition to seismic
insurance also helps with additional living expenses
in the days and weeks after earthquakes.
staggering 86% of California homeowners do not yet
have earthquake insurance.
your small business have a recovery plan?
business disaster recovery plan will make your
business better able to survive in a post-disaster
physical assets can be replaced, emotional and social
changes that affect businesses and their customers may
remain long after a disaster.
may not return to their previous revenue levels after
a disaster; however, some businesses such as
construction are likely to be in great demand
following an earthquake.
small businesses in Santa Cruz, California, were heavily
damaged in the 1989 magnitude 6.9 Loma Prieta earthquake,
but both eventually reopened. (USGS
will the Government do for you?
disaster relief programs are designed to help you get
partly back on your feet but not to replace everything
Department of Homeland Security's Federal Emergency
Management Agency (FEMA) is tasked with responding to,
planning for, and mitigating disasters.
the President signs a major disaster declaration, FEMA
cooperates with other agencies, such as the Small
Business Administration (SBA), in providing disaster
primary form of disaster relief is low-interest loans
to eligible individuals, homeowners, and businesses
made available through the SBA to repair or replace
damaged property and personal belongings not covered
maximum SBA personal-property loan is $40,000, and the
maximum SBA real-property loan for primary home repair
disaster grants for emergency home repairs and
temporary rental assistance are only available to
individuals and households who do not qualify for
average FEMA grant is less than $15,000 (the maximum
is $26,200)&emdash;not enough to rebuild a home in the
Farm Service Agency (FSA) offers loans to assist
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