CHALLENGES AND BEST PRACTICES
Austin Perez, a senior policy advisor for the National Association of REALTORS®, emphasizes the importance of homeowners actively mitigating risks to make their homes insurable and to reduce insurance rates.
He notes that federal disaster aid
programs offer limited assistance for basic needs immediately after a natural
disaster.
“FEMA aid is not intended to make
homeowners whole and is not a substitute for insurance,” Perez explains, citing
examples where FEMA provided an average of $4,000 in disaster assistance,
leaving households to rely on Small Business Administration loans with
interest.
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