Hurricane season has arrived  in Raleigh, NC and the surrounding Triangle areas. Hopefully, we will not have to experience another  Hurricane Irene. Thought it would be appropriate to share a few Post Hurricane Tips  so you will be prepared if we happen to be in the path of another hurricane any time soon.

Post Hurricane Tips

Insurance

The National Association of Mutual Insurance Companies reports that when it comes to the insurance industry, mold is not usually a part of the standard insurance policy and is generally only covered if it’s a direct result of a covered peril such as wind and storm damage, however some older policies may still cover mold.

If you had damages from more than one storm, be aware that you may incur multiple deductible depending on when the damages took place and the interpretation made by your individual adjuster/insurance company.  Some may consider the damage as a continuation of the first storm, while others may require separate claims with a deductible for each.

Docks and seawalls are generally not covered by insurance except in a few cases under a commercial policy or may be considered as a “collision” (when a boat collided with your dock).  While these are not usually covered under most policies, it is worthwhile to check with your insurance agent to see if you have any additional riders/coverage that may qualify.

When you purchase flood insurance, there is a mandatory 30-day wait period for the policy to become effective.

Several local insurance agents predict that condominium association policies may see increases. Be sure to thoroughly review any condo documentation you may receive and stay abreast of any new revisions made to your condo association budget. 

If you are having a difficult time getting an adjuster to your home, you’re not alone!  According to the National Underwriters Company, recent hurricanes have resulted in over one million individual claims that are being handled by approximately 15,000 adjusters throughout the state.

Keep all receipts as a result of any hurricane related expenses for your records!

 

Taxes and Financial Considerations

Once again, keep all receipts for any hurricane-related expenses.

Contact your accountant or financial advisor if you are making an insurance claim or expect to receive any monies from damage/loss to your property.  Insurance proceeds and reimbursements may be considered a taxable profit/gain if they exceed the basis/costs to repair/replace the property according to the IRS.

Some lenders are extending payment periods on loans and credit cards for victims of the hurricanes.  Also, businesses are being offered 0% interest loans thru the end of the year.  Check with your lender to see if you qualify.

The IRS has extended some filing dates for businesses and individuals located in Federal Disaster areas. Go to “Disaster Area Tax Relief” at www.irs.gov for more information on tax relief in Federal Disaster areas.

If you suffered property damage which was not covered by your insurance and your property was located in a declared Federal Disaster Area  you may want to check with your tax professional and see if you qualify to maybe claim the loss on your taxes.  Remember to consult your tax professional for individual advice.

Mold

It’s a word we are hearing a lot lately.  It’s a word that causes misunderstanding and it may become a word that you use in regards to your own home if you don’t take the proper steps to protect you and your family during these “stormy” times.

Although there are many types of mold, the growth of any kind should be considered unacceptable in your home.  Not only can mold (also known as mildew) potentially cause structural damage to your home, it may also create allergic reactions including respiratory problems and skin rashes.  As recommended by the EPA and the National Home Builders Association, the most sensible solution to any type of mold problem is to treat all molds with caution and remove the potential breeding grounds from your home as quickly as possible.  This may become an extensive project for some homeowners depending on the amount of moisture and growing conditions found in the home.

Keep in mind, just because you do not see mold, it doesn’t mean it’s not there.  There are licensed inspectors that can help you isolate problem areas and tell you exactly what needs to be done to solve any problems.

A few helpful hints in combating your potential mold problems:

Find the cause of the dampness or water leaks and stop the source.  Remove all wet porous and fibrous materials within 24-48 hours.  Rule of thumb - if it could not be cleaned and dried within 48 hours, throw it out!

Turn your A/C control to 69-70 degrees to remove as much moisture from the air as possible.  Ideally, indoor humidity should be decreased to 30-60%.  Other ways to decrease moisture in the air include using dehumidifiers, bathroom and kitchen exhaust fans, and increasing ventilation.

Clean mold off of hard surfaces using water and detergent/5% bleach solution then dry completely. 

Wear protective clothing with long sleeves, gloves, goggles and mold-rated masks when cleaning areas that have been wet longer than 48 hours.

Prevent condensation by adding insulation to ceilings, walls and pipes.

Hire only licensed contractors to do any work you have done to your home.

Don’t forget, mold may infest your air conditioning systems and duct work also.  The cleaning of these systems will need to be done only by a licensed contractor.

Sources:

Disaster Contractors Network; Environmental Protection Agency;;; National Association of Mutual Insurance Companies; National Center for Environmental Health; National Association of Home Builders;

Below is a list of a few websites with regard to mold issues that you may find helpful.  They offer unbiased information so that you can determine what course of action needs to be taken to correct any mold problems you may have in your home:

EPA Mold and Moisture Resource Home Page (sponsored by Environmental Protection Agency)

CDC Mold and Health  (sponsored by National Center for Environmental Health)

NAHB Mold Tips (sponsored by National Association of Home Builders)

Repairs

Make sure to hire only licensed and insured contractors.  If an uninsured worker is injured on your property, you could be sued!  If you pull a permit for an unlicensed contractor, you are held responsible for the work, not the contractor, and if an unlicensed contractor does not pay his sub-contractors/suppliers, you will be required to pay them, even though you may have already paid the unlicensed contractor/person. Plumbing, electrical, heating and air conditioning work must be done only by contractors licensed/certified in each specific trade.

Building Permits – Many repairs, including docks, screen enclosures and roof repairs require permitting.  Make sure your contractor is pulling a permit before beginning any work or contact your building officials for further questions. 

Before you dig to repair that fence or landscaping call to locate any public underground utility lines on your property.  Call during business hours Monday through Friday (7am – 6pm EST) at least 2 business days before you need the underground utilities marked.  It is a free public service. 

Although I gathered this information from reputable sources, before taking action, please consult with a professional in the appropriate field for specific answers and individual advice.  If you have any real estate related questions contact Phyllis Wolborsky & The Wolborsky Group at 919-876-2372 or email at phyllis.wolborsky@allentate.com.

View some of Phyllis Wolborsky and The Wolborsky Groups Listings and let us know if we might schedule a showing.

http://www.phyllisdiditagain.com/Properties

 If you are in the market to buy or sale real estate please visit my website at www.PhyllisDidItAgain.com or www.AllenTate.com/PhyllisWolborsky to view all of my featured listing and the listings offered by our MLS service. Call Phyllis Wolborsky at 919-876-2372, Visit Brian Wolborsky at www.Raleighhomeguide.com, or call 919-427-9508, call Mitchell Wolborsky at 919-270-1049, Kevin Wolborsky at 919-608-2000.

Have a great day and it would be our pleasure to assist you with all of your real estate needs.

 

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