The road to recovery Your guide to recovering from a natural disaster
Natural disasters can happen anywhere at any time, and the results can be devastating. The uncertainty and delays many victims experience in the aftermath of a crisis can create enormous challenges. To support our clients in these difficult times, UBS has engaged APTIM, a firm specializing in disaster recovery, to share strategies, tips and guidance to help you understand how best to navigate the recovery process. At UBS, we ve always had an unwavering commitment to our clients. There s never been a better time than now to demonstrate our support for the people and causes that make a positive impact in the communities where we live and work. Table of Contents 03 Federal disaster assistance 04 Property-loss claims 04 Flooding 05 Wildfires 05 Rebuilding and contractor selection 06 Tax relief 06 Mortgages 06 Online Access 06 Charity This material is provided solely for the convenience of clients of UBS and/or authorized users only and for their informational purposes only. It has not been prepared with regard to the specific objectives, financial situation or particular needs of any specific person. UBS has entered into an agreement with a third-party service provider, APTIM Environmental & Infrastructure Inc. ( APTIM ), to prepare and deliver the contents and information in this material (collectively, the Content ). UBS has relied on APTIM s expertise and knowledge on the issues and matters discussed in this material and has not verified the accuracy, completeness or reliability of the Content. No sponsorship, endorsement or affiliation is suggested or implied between UBS or APTIM by this engagement, and neither APTIM nor any of its representatives are acting as representatives of, or in any capacity for, UBS. All Content should be construed as statements of opinion and not statements of fact or recommendations to take any particular action, and should not construe the Content as legal, tax, accounting, regulatory, or other specialist or technical advice or services or investment advice or a personal recommendation. Prior to making any decisions, clients should seek individualized advice from his or her personal financial, legal, tax and other professional advisors that takes into account all the particular facts and requirements of his or her circumstances, resources and objectives.
Federal disaster assistance Critical needs assistance: When individuals register with FEMA, they should let FEMA know if they have critical or emergency needs and that they are requesting financial help to cover those needs and expenses. For example, FEMA could offer a one-time payment of $500 per household as financial assistance for critical needs. Emergency lodging: If you are a disaster survivor and are in need of emergency lodging, FEMA offers Transitional Sheltering Assistance (TSA) for a limited period of time. For more information about participating hotels or motels, you can refer to FEMA s TSA website at femaevachotels.com. FEMA Individuals and Households Program (IHP) Assistance: The IHP Assistance program provides financial assistance and direct services to eligible individuals and households who have uninsured or underinsured necessary expenses and serious needs in two (2) main categories: Housing Assistance and Other Needs Assistance (ONA) (such as childcare, medical and dental expenses). For information on the IHP Assistance program and eligibility requirements, please refer to FEMA s Individuals and Households Program Fact Sheet at fema.gov/media-library-data/1502371943459-711a1767 1708a7ded53f0b22315f2597/FACTSHEETIndividualsandHouseholdIHP.pdf. Qualifying for FEMA assistance: There are certain conditions to be met in order to qualify or be eligible for FEMA assistance. To find out about the types of assistance offered by FEMA and its eligibility requirements, please refer to the Individuals and Households Program Unified Guidance at fema.gov/ media-library-data/1483567080828-1201b6eebf9fbbd7c8a070fddb308971/femaihpug_ CoverEdit_December2016.pdf. Duplication of benefits: It is important to provide accurate insurance information to avoid a duplication of FEMA assistance. Note that by law, FEMA cannot give assistance for losses addressed by insurance coverage or other sources. Deadlines: Sign up for FEMA bulletins to avoid missing registration deadlines at fema.gov/fema-bulletin. Disaster unemployment assistance: People who have lost their jobs or had their work hours substantially reduced because of a disaster and are not eligible for regular state unemployment benefits can try to see if they are eligible for Disaster Unemployment Assistance, which provides temporary unemployment benefits. This program also covers people who are self-employed or do not have enough work history to get regular state benefits. For more information, visit disasterassistance.gov/ disaster-assistance/forms-of-assistance/4466/0/d05. U.S. Small Business Administration (SBA) disaster assistance loans: The SBA is a government agency that offers low-interest, long-term loans for losses not fully covered by insurance or other means. There are two programs offered by the SBA: Business Disaster Loans up to $2 million and Home and Property Disaster Loans up to $200,000. Get more information on both SBA programs at disasterloan.sba.gov/ela. 3
U.S. Department of Agriculture Farm Service Agency (FSA) Disaster Assistance Programs: The FSA offers nine (9) programs that provide grants or loans to impacted owners and producers. There are different qualification requirements for each program. For more information, refer to the FSA s Disaster Assistance Fact Sheet at fsa.usda.gov/assets/ USDA-FSA-Public/usdafiles/FactSheets/archived-fact-sheets/fsa_disaster_assistance_ programs_at_a_glance_march2017.pdf. Stay up-to-date: FEMA-specific major disaster declarations and information: Hurricane Harvey Texas: fema.gov/disaster/4332 Hurricane Irma U.S. Virgin Islands: fema.gov/disaster/4335 Hurricane Irma Puerto Rico: fema.gov/disaster/4336 Hurricane Irma Florida: fema.gov/disaster/4337 Hurricane Irma Georgia: fema.gov/disaster/4338 Hurricane Maria Puerto Rico: fema.gov/disaster/4339 California Wildfires fema.gov/disaster/4344 FEMA disaster search fema.gov/disasters Property-loss claims Key steps to take after a large property loss: Take sufficient photographs and videos to record all property damage (however small). Immediately report your loss to your insurance company or insurance agent. Be vigilant about following up until you receive a claim/loss number. Review your insurance policy with your insurance agent. Follow the steps to submit a claim. Create a list of damaged items, itemizing the damages in as much detail as possible. Prepare for a site visit from your Insurance Adjuster. During the visit, walk your Adjuster around your property, pointing out all areas of damage and asking how the policy s terms will be applied. Flooding Important considerations to deal with flooding: You should report your loss immediately to your insurance agent or insurance carrier. If you need assistance in finding your carrier, call 1-800-621-FEMA (3362) or visit disasterassistance.gov. Confirm your available coverage through the National Flood Insurance Program (NFIP) insurance claim process. Once you ve contacted your carrier, an Adjuster should call you within 24 48 hours. When reporting your claim, have on hand your policy declarations page, if available, and the name of your mortgage company(s). Visit fema.gov/flood-claim-appeals-and-guidance to learn more about appealing an NFIP claim. Key information on mold and remediation can found at epa.gov/mold and cdc.gov/mold/cleanup.htm. 4
Wildfires Insurance after wildfire: How is it different? Insurance usually covers wildfires. Standard homeowners policies generally help protect against specific perils or certain causes of loss, such as theft and fire. However, coverage may vary by geographic location and by policy. Insurance adjusters will most likely pay for the cost of cleaning visible smoke and ash. Have qualified experts do the inspection, testing, cleaning and restoration of all damaged property. Use common sense when deciding what property should be cleaned and if it s possible to have it cleaned to its pre-loss condition. Otherwise, make a claim for replacement of the property. Retain a qualified Certified Industrial Hygienist (CIH) to test for evidence of smoke, soot, char and contaminates. Repairs should return a property to a uniform and consistent appearance even if that means replacing undamaged items. Rebuilding and contractor selection Contractor selection and construction project management: Selecting a contractor and overseeing repair work or rebuilding project work can be daunting if you are not familiar with the process. Below are basic steps to get started and important considerations: Decide what your needs are based on the extent of the repair or rebuilding work involved. Review portfolios of project managers and see if they have partnerships with local contractors. Verify credentials via state-run websites or national associations like the American Institute of Architects. Make sure any contractor you consider is licensed, insured and bonded. (Your insurance company may have an approved list of contractors.) Evaluate the general contractor s response time; if their communication is slow in selling the job, it will likely be slow during construction. Meet with the contractor face-to-face to walk them through the site and identify any concerns. Collect multiple bids to compare costs and the scope of work the contractors have identified. Determine which contractor is best suited to meet the project goals you have laid out. Consider: Does the contractor have the capacity to complete your project in your specified timeframe? Consider hiring a forensic expert to assess damages such as structural failures. Forensic information provides objective, scientific analyses that can be helpful in resolving insurance disputes. Secure a good builder as quickly as possible to stay ahead of the demand for construction services. Consider hiring a construction manager. These professionals will represent your interests and provide expert feedback on the quality of work on a job. Report any suspected disaster-related fraud to federal and state authorities. Before entering contract negotiating on a home renovation, download and review the National Association of Home Builders Residential Construction Performance Guidelines to gain a better understanding of how to communicate with your contractor. https://builderbooks.com/media/ flippingbook/pdf/rcpg_4e contractor/r/c/rcpg_4th_ed-contractor_final4.pdf. 5
Tax relief Mortgages Online Access Charity Consult with your accountant about the tax implications of out-of-pocket costs and deductibles in a loss scenario. The IRS has provided a variety of tax relief options for those affected by recent natural disasters. Find more information at irs.gov/newsroom/tax-relief-in-disaster-situations. If you have questions about your UBS Bank USA mortgage, contact our servicing department Monday through Friday from 8:30 a.m. 8:00 p.m. ET using the following numbers: For mortgage loan numbers beginning with 7, call 1-800-936-0917. For mortgage loan numbers beginning with 003 through 009, call 1-866-843-2512. If your mortgage is not with UBS, please contact your mortgage servicer. For inquiries specifically about UBS Credit Cards, you can call 1-800-762-1000, 24 hours a day, seven days a week. For questions regarding other UBS Bank USA products, please reach out to your Financial Advisor. How Online Services can help: Enrolling in Online Services can be particularly important when dealing with a natural disaster. If you have evacuated the area where you live or there are issues with postal delivery, you can always access your account information via Online Services. If you re not already enrolled, ask your UBS Financial Advisor to sign you up. You can also self-enroll by selecting the Register Now button at ubs.com/onlineservices. The BBB Wise Giving Alliance reports on national charities when they receive questions or concerns from a charity s donors. Reports include evaluations of the charity. give.org The American Institute of Philanthropy is a charity watchdog that helps donors make informed choices. charitywatch.org/home Guidestar gathers data on more than 850,000 IRS-recognized nonprofits. guidestar.org/home.aspx For those impacted by natural disasters, our hearts go out to you, your family, neighbors and colleagues. We hope you find this resource helpful as you continue on the road to recovery. This material is provided solely for the convenience of clients of UBS and/or authorized users only and for their informational purposes only. It has not been prepared with regard to the specific objectives, financial situation or particular needs of any specific person. UBS has entered into an agreement with a third-party service provider, APTIM Environmental & Infrastructure Inc. ( APTIM ), to prepare and deliver the contents and information in this material (collectively, the Content ). UBS has relied on APTIM s expertise and knowledge on the issues and matters discussed in this material and has not verified the accuracy, completeness or reliability of the Content. No sponsorship, endorsement or affiliation is suggested or implied between UBS or APTIM by this engagement, and neither APTIM nor any of its representatives are acting as representatives of, or in any capacity for, UBS. All Content should be construed as, statements of opinion and not statements of fact or recommendations to take any particular action, and should not construe the Content as legal, tax, accounting, regulatory, or other specialist or technical advice or services or investment advice or a personal recommendation. Prior to making any decisions, clients should seek individualized advice from his or her personal financial, legal, tax and other professional advisors that takes into account all the particular facts and requirements of his or her circumstances, resources and objectives. The Content contained herein is subject to change without notice and may differ or be contrary to opinions expressed by UBS as a result of having or using different facts, information, assumptions and/or criteria. Additionally, information relating to U.S. federal and state government policies and/or programs specific to disaster preparedness, response, recovery, mitigation and relief may change over time. UBS is under no obligation to update or keep current the Content contained herein. No representation or warranty, either express or implied, is provided in relation to the fitness for particular purpose, accuracy, completeness or reliability of the Content (except with respect to information concerning UBS), nor is it intended to be a complete statement or summary of the facts and/or information referred to in this material or a guarantee that any of the products or services described herein will be available to any person or entity. Neither UBS nor any of its directors, officers, employees or agents accepts any liability for any loss or damage arising out of the use of all or any part of this material or reliance upon any Content or for the procurement, collection, compilation, analysis, interpretation, communication, publication or delivery of this material and/or the Content. UBS 2017. The key symbol and UBS are among the registered and unregistered trademarks of UBS. All rights reserved. 171027-2981