Disaster Zone

Recovery Up and Running in Alaska

Homeowners are going to be in for some surprises.

by Eric Holdeman / December 16, 2018

For the average Sally and Joe, they don't pay that much attention to home insurance. They know they need it in order to get a home loan, but they are likely not very versed in what is covered or not covered. Earthquakes require an additional hazard coverage like flooding. I'm spending around $700 a year for earthquake insurance on a home valued around $400,000, with a 15 percent deductible on any damages. 

Alaska Emergency Management is doing their outreach, post earthquake, with news outlets carrying information on who to contact — see "Was your home damaged in the earthquake? Here's what you need to apply for disaster assistance" that directs them to information on State Individual Disaster Assistance. I could be wrong, but the "State" Individual Disaster Assistance is likely a misnomer, since the funding is very likely Federal/FEMA Individual Assistance. 

This information (off the Internet) dates from 2017, but is a summary of what an individual or family might expect: "People needing immediate cash for food or shelter can get $500 deposited into their bank accounts. The agency will also make grants for home repairs, with a maximum of $33,300, although ... says the average grant is closer to $3,000 to $4,000." The home pictured in the first link above will not get fixed for $33,000.