FEMA dollars available to businesses and residents

Bush's declaration brings hope for recouping losses

SCOTT WYLAND, THE OLYMPIAN

OLYMPIA -- Business owners and residents hammered by Wednesday's earthquake will be able to tap into Federal Emergency Management Agency money now that President Bush has declared sections of Western Washington a disaster area.

But first, they must use whatever insurance coverage they already have so FEMA doesn't funnel duplicate funds to them, an agency representative said Thursday.

Also, a thorough inspection of the area must be done before any FEMA money can be made available, said Dee Norton, an agency spokesman. "There are limits to what FEMA can do."

Earthquake victims must call the agency before they can receive any money, Norton said.

In previous disasters, many people have assumed that agents -- like magic -- would appear at their doors, he said.

Smaller businesses that need money to help them recover can apply for various loans through the U.S. Small Business Administration, Norton said.

FEMA also offers grants, depending on the circumstances and extent of damage, Norton said.

Private earthquake insurance generally has a deductible of 10 percent for structural damage and 10 percent for damaged contents, local insurance agents said.

Earthquake insurance also must be purchased separately from standard policies.

And some insurers also require policyholders to wait 60 to 90 days after an earthquake before buying earthquake insurance.

For more information

People whose dwellings or businesses sustained damage from the earthquake can call (800) 462-9029. A FEMA representative will take information and set up a site inspection.

The Olympian Copyright 2000

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