Tips for Getting Reimbursements Post-Hurricane

This is a follow-up to several topics I covered months ago regarding hurricane damage, thanks to Helene. Previously, I posted videos on various issues, including FEMA versus the SBA and some related misinformation, if not disinformation. I also shared YouTube videos about my car being a total loss.

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Fortunately, while my house didn’t sustain any hurricane damage, my travel trailer should have been a total loss as well. However, since I’m out a few thousand dollars already with the car, it turned out to be to my financial benefit. Unfortunately, I will take it hit financially the day I trade in the camper.

Hurricane Damage Reimbursements After a Total Loss

However, this blog focuses on a follow-up regarding reimbursements. The issue started when I contacted my insurance company, and they seemed clueless about what I was talking about. The lien holder wasn’t much better. But, here’s the situation: I had made two payments after my car was totaled. Why was I paying for a car I no longer owned, one that was legally totaled, and for which I had no obligation?

• Handling Insurance Claims Especially After a Hurricane. Lessons Learned.

This meant more time contacting the insurance company and the lienholder for my reimbursements. Ultimately, I received my reimbursement, which equaled two months’ worth of car payments, totaling nearly $800.

Here’s how I did it:

1. Contact the Insurance Company: I had to confirm exactly how much they paid out and when they informed the lien holder. There were discrepancies with the payoff figures on the car loan.

2. Contact the Lien Holder: Once the insurance company provided me with the amount they paid the lienholder, I was able to prove to the lienholder owed them two months’ worth of payments.

Make sure to get figures from both the insurance and the car loan lender to compare.

Protect Your Credit Score

It’s critical to stay on top of these matters. Sometimes, people assume the insurance company has resolved everything and stops making payments, only to have late payments end up on their credit report. Removing negative statements from your credit report is no small task, so make sure to keep making payments until everything is confirmed.

• How I Used a Personal Loan to Improve My Credit

I understand how challenging it is financially. At one point, I was making payments on three car loans, which included a car that was no longer mine legally. But eventually, I got reimbursed. It just took time, persistence, and keeping track of everything. Make sure to document when your car was totaled and when your payments were made so that you are reimbursed for those monthly payments.

After sorting all that out and receiving my reimbursement, I used those funds to contribute to my IRA. Always try to max out your annual IRA contributions. Every little bit helps toward your financial goals.

Stay safe! Here’s hoping for no more hurricanes.

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