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Modular Homes in New Jersey: Replacing What Sandy Destroyed
Hurricane Sandy struck the Eastern Seaboard in late October 2012, bringing destruction to a wide swath of the United States. New Jersey was hit particularly hard: Hoboken flooded – prompting the evacuation of over 50,000 people; thousands of home and businesses were damaged – many beyond repair, and even the boardwalk lost a 50 foot section which was simply washed away. Now, just over a year after the nation’s second most costly hurricane, New Jersey modular homes in New Jersey are replacing many of the homes that Sandy destroyed.
Nancy Nieratko and her grandchildren lived together in Sayreville, New Jersey when Sandy passed, leaving them with nothing but each other. After more than a year of struggling and living with family, the family is about to go home – this time moving into a modular home that they purchased and placed on the lot where their previous house stood. Saying she is “thrilled to tears,” Nieratko expects to move in on about April 1st.
Nieratko’s decision is one that an increasing number of New Jersey residents are making. Many people who thought they would be able to repair their homes after Sandy are finding that their old residences were just too damaged to repair. Nancy Nieratko actually spent over $6,000 thinking that she could remove over 30 tons of sewage and mud that had inundated her old home. In time, she discovered that she would need to rebuild.
Refusing a buyout offer for her property, Nieratko decided to rebuild her with a modular home. This decision ws not only cost effective, but it was also flexible, allowing her to overcome any obstacles which may have been caused by Sandy, but remained unforeseen in the initial stages of planning.
Like Nancy Nieratko, many residents of New Jersey are finding that building a modular home just makes sense. From those who were affected by Hurricane Sandy, to those who are looking to build a home for other reasons, New Jersey residents are finding that modular homes are safe, flexible, and affordable.
Contact us for more information on our floor plans, and to hear more benefits of going modular.
See below for help from the SBA (Small Business Administration) for Sandy Victims
A link to FEMA’s website which has some helpfull tips on what to do after a hurricane
Before making the decision to repair or rebuild you should consider the implications of both alternatives.
The common concern with customers contacting us for assistance is regarding replacement costs covered which are available to the homeowner and the cost of building new. Many customers are in the unfortunate situation of wanting a clean, fresh start and utilizing today’s flood elevation requirements that are in place. The option becomes, do we repair, raise the existing home or demo and rebuild.
Many customers are surprised when they contact our office for a estimate on rebuilding vs. repairing that it sometimes is less expensive to demo and rebuild. Others are surprised that the cost to demo and rebuild is relatively close to the total “repair” cost.
During our discussion, we often explain the advantages of new construction and have many programs in place to work with many budgets. My advice is before you make the decision to repair, contact Supreme Modular to help you lay out all options. Doing this will enable you to make an informed, wise decision which will benefit you and your family for many years.
A word of caution to homeowners, there have been reports of home repair companies that are eager to start the process of repairing without providing a full estimate of ALL costs required to repair the home. These contractors are presenting the repairs in steps to avoid disclosing the full cost of ALL repairs. I caution all homeowners to
1. Determine all money that you are entitled to receive from your insurance, FEMA, or the SBA. (See below for helpful information)
2. Get estimates for all repair costs, ask the contractor for references and ask for a tentative completion date.
3. If your repair costs are substantial, get a couple quotes for rebuilding. Supreme Modular will be happy to assist you with this.
As we all sit with our family and friends this holiday season, please keep those affected by Hurricane Sandy in your thoughts and prayers. Hurricane Sandy was truly a tragic event and has caused major losses for thousands of families across the North East. I am hearing stories of families that have experienced total loss of homes, materials memories and tragically loss of life. Now displaced, families are to wait out the process as we begin to rebuild. The process of rebuilding will not happen overnight, it will take time for the recovery efforts to make major inroads on the devastation caused by the storm. The best we can do is all work together and remember when we tire, when we fee like giving up, to stop and realize that we are all in this together and that part of what makes our country great is that we do not give up.
If you have been effected by the storm, God bless you during this holiday season. In addition to assisting with the rebuilding process, Supreme Modular is here to help offer guidance and assistance in any way possible. Please do not hesitate to reach out and contact us with questions regardless if you plan on building a new home or not. Supreme Modular is here to support the community that has supported the company for many years.
See below for help from the SBA (Small Business Administration) for Sandy Victims
A link to FEMA’s website which has some helpfull tips on what to do after a hurricane
Supreme Modular would like to express our sympathy for hurricane Sandy victims who were displaced or injured by the storm. We are unable to imagine the range of emotions that those affected by the storm are feeling. What we are able to do is pray and offer support. Supreme Modular is here to help rebuild and offer support through the rebuilding process. In addition, Supreme Modular will commit to building five (5) homes at our cost as well as offer deep discounts to hurricane Sandy victims and commit to reduce our prices for those affected as we rebuild together.
SBA Stands Ready to Assist New Jersey Residents
Affected by Hurricane Sandy
WASHINGTON – U.S. Small Business Administration Administrator Karen G. Mills issued the following statement after the announcement of the Presidential disaster declaration for several counties in New Jersey affected by Hurricane Sandy that began on Oct. 26, 2012:
“The U.S. Small Business Administration is strongly committed to providing the people of
New Jersey with the most effective and customer-focused response possible to assist homeowners, renters, and businesses with federal disaster loans. Getting businesses and communities up and running after a disaster is our highest priority at SBA.”
The disaster declaration covers the counties of Atlantic, Cape May, Essex, Hudson, Middlesex, Monmouth, Ocean and Union in New Jersey, which are eligible for both Physical and Economic Injury Disaster Loans from the SBA. Small businesses and most private non-profit organizations in the following adjacent counties are eligible to apply only for SBA Economic Injury Disaster Loans: Bergen, Burlington, Camden, Cumberland, Gloucester, Mercer, Morris, Passaic, Somerset in New Jersey; and New York County in New York.
Disaster loans up to $200,000 are available to homeowners to repair or replace disaster damaged or destroyed real estate. Homeowners and renters are eligible up to $40,000 to repair or replace disaster damaged or destroyed personal property.
Businesses and private non-profit organizations of any size may borrow up to $2 million to repair or replace disaster damaged or destroyed real estate, machinery and equipment, inventory, and other business assets. The SBA may increase a loan up to 20 percent of the total amount of disaster damage to real estate and/or leasehold improvements, as verified by SBA, to make improvements that lessen the risk of property damage by future disasters of the same kind.
For small businesses, small agricultural cooperatives, small businesses engaged in aquaculture and most private non-profit organizations of all sizes, the SBA offers Economic Injury Disaster Loans to help meet working capital needs caused by the disaster. Economic Injury Disaster Loan assistance is available regardless of whether the business suffered any physical property damage.
Interest rates are as low as 1.688 percent for homeowners and renters, 3 percent for non-profit organizations and 4 percent for businesses with terms up to 30 years. Loan amounts and terms are set by the SBA and are based on each applicant’s financial condition.
Applicants may apply online using the Electronic Loan Application (ELA) via SBA’s secure website at https://disasterloan.sba.gov/ela.
To be considered for all forms of disaster assistance, applicants should register online at www.DisasterAssistance.gov or by mobile device at m.fema.gov. If online or mobile access is unavailable, applicants should call the FEMA toll-free Helpline at 800-621-3362. Those who use 711-Relay or Video Relay Services should call 800-621-3362. Additional details on the locations of Disaster Recovery Centers and the loan application process can be obtained by calling the SBA Customer Service Center at 800-659-2955 (800-877-8339 for the deaf and hard-of-hearing) or by sending an e-mail to firstname.lastname@example.org.
The filing deadline to return applications for physical property damage is December 31, 2012. The deadline to return economic injury applications is July 31, 2013.
For more information about the SBA’s Disaster Loan Program, visit our website at www.sba.gov.
Below is some helpfull information about homeowners insurance. Supreme Modular is not a licensed insurer so please disucss your policy and needs with your insurer.
Homeowners insurance used to be called fire insurance. But a homeowner’s policy covers much more than just losses resulting from fires. Homeowners insurance provides financial protection against disasters. A standard policy insures the home itself and the things you keep in it. It is really all about protecting yourself financially if something unexpected happens to your home or possessions. That’s important because chances are your home is likely one of your largest investments.
It is important to know that homeowners insurance is meant to cover unexpected damage, not routine maintenance. Ask your agent to talk about what is covered and be sure to read your policy so you know exactly what’s included and what is not. Because everyone’s needs are not the same, it is best to consult your agent to help assess your needs and find the insurance policy that is right for you. Homeowners insurance is a package policy. This means that it covers both damage to your property and your liability or legal responsibility for any injuries and property damage you or members of your family cause to other people. This includes damage caused by household pets. Damage caused by most disasters is covered but there are exceptions. The most significant are damage caused by floods, landslides, earthquakes and poor maintenance. You must buy two separate policies for flood and earthquake coverage. Maintenance-related problems are the homeowners’ responsibility.
A standard homeowners insurance policy includes four essential types of coverage.
1. Coverage for the structure of your home. (your residence and detached structures)
This part of your policy pays to repair or rebuild your home if it is damaged or destroyed by fire, hurricane, hail, lightning or other disaster listed in your policy. It will not pay for damage caused by a flood, earthquake or routine wear and tear. When purchasing coverage for the structure of your home, it is important to buy enough to rebuild your home. Most standard policies also cover structures that are detached from your home such as a garage, tool shed or gazebo. Generally, these structures are covered for about 10% of the amount of insurance you have on the structure of your home. If you need more coverage, talk to your insurance agent about purchasing more insurance. 2. Coverage for your personal belongings.
Your furniture, clothes, sports equipment and other personal items are covered if they are stolen or destroyed by fire, hurricane or other insured disaster. Most companies provide coverage for 50% to 70% of the amount of insurance you have on the structure of your home. So if you have $100,000 worth of insurance on the structure of your home, you would have between $50,000 to $70,000 worth of coverage for your belongings. The best way to determine if this is enough coverage is to conduct a home inventory. This part of your policy includes off-premises coverage. This means that your belongings are covered anywhere in the world, unless you have decided against off-premises coverage. Some companies limit the amount to 10% of the amount of insurance you have for your possessions. You have up to $500 of coverage for unauthorized use of your credit cards. Although there is coverage for the contents in your home, this coverage is limited for certain valuables, including jewelry, art, and computer equipment. As a rule of thumb, if you have a collection or an individual item worth at least $500, you should consider additional coverage options by buying a personal property endorsement or “floater”. A “floater” is attached to your homeowner’s policy and provides the additional coverage you need. The higher the value of the items you’d like to insure, the more the added-on coverage will cost.
Expensive items like jewelry, furs and silverware are covered, but there are usually dollar limits if they are stolen. Generally, you are covered for between $1,000 to $2,000 for all of your jewelry and furs. To insure these items to their full value, purchase a special personal property endorsement or floater and insure the item for it’s appraised value. Coverage includes “accidental disappearance,” meaning coverage if you simply lose that item. And there is no deductible. Trees, plants and shrubs are also covered under standard homeowners insurance. Generally you are covered for 5% of the insurance on the house—up to about $500 per item. Perils covered are theft, fire, lightning, explosion, vandalism, riot and even falling aircraft. They are not covered for damage by wind or disease. 3. Liability Protection
Liability covers you against lawsuits for bodily injury or property damage that you or family members cause to other people. It also pays for damage caused by your pets. So, if your son, daughter or dog accidentally ruins your neighbor’s expensive rug, you are covered. However, if they destroy your rug, you are not covered. The liability portion of your policy pays for both the cost of defending you in court and any court awards—up to the limit of your policy. You are also covered not just in your home, but anywhere in the world. Liability limits generally start at about $100,000. However, experts recommend that you purchase at least $300,000 worth of protection. Some people feel more comfortable with even more coverage. You can purchase an umbrella or excess liability policy which provides broader coverage, including claims against you for libel and slander, as well as higher liability limits. Generally, umbrella policies cost between $200 to $350 for $1 million of additional liability protection. Your policy also provides no-fault medical coverage. In the event a friend or neighbor is injured in your home, he or she can simply submit medical bills to your insurance company. This way, expenses are paid without a liability claim being filed against you. You can generally get $1,000 to $5,000 worth of this coverage. It does not, however, pay the medical bills for your family or your pet.
4. Additional Living Expenses
This pays the additional costs of living away from home if you can’t live there due to damage from a fire, storm or other insured disaster. It covers hotel bills, restaurant meals and other living expenses incurred while your home is being rebuilt. Coverage for additional living expenses differs from company to company. Many policies provide coverage for about 20% of the insurance on your house. You can increase this coverage, however, for an additional premium. Some companies sell a policy that provides an unlimited amount of loss-of-use coverage, but for a limited amount of time. If you rent out part of your house, this coverage also reimburses you for the rent that you would have collected from your tenant if your home had not been destroyed. *Except for dwelling and structures, a Renter’s Policy has very similar benefits and starts as low as $120 per year!
There are two types of coverage for your possessions: Actual Cash Value and Replacement Cost Coverage.
To insure your home appropriately, you want to make sure that you have enough coverage to rebuild your home in case it gets completely destroyed. That means the limit on your policy should be equal to the cost to replace your home. The replacement value is calculated on a “cost per square foot” basis: take the square footage of your house and multiply it by the average square foot building rate in your area. Your insurance agent will be able to help you calculate the replacement value.
There’s something you should know: Flood losses are not covered by your homeowners insurance policy.
Floodwaters have the power to damage not only your home and sense of security, but also your financial future. How can you protect your most important investment in case of flooding?
Option 1: Hope that you’ll receive Federal disaster relief if a flood hits. Many people wrongly believe that the U.S. government will take care of all their financial needs if they suffer damage due to flooding. The truth is that Federal disaster assistance is only available if the President formally declares a disaster. Even if you do get disaster assistance, it’s often a loan you have to repay, with interest, in addition to your mortgage loan that you still owe on the damaged property.
Most importantly, you must consider the fact that if your home is flooded and disaster assistance isn’t offered, you’ll have to shoulder the massive damage costs alone. The bottom line is that if you’re looking for secure protection from financial loss due to flood damage, Federal disaster assistance is not the answer.
Option 2: Buy flood insurance and stay protected no matter what. When disaster strikes, flood insurance policyholder claims are paid even if a disaster is not Federally declared. Flood insurance means you’ll be reimbursed for all your covered losses. And unlike Federal aid, it never has to be repaid.
In general, a policy does not take effect until 30 days after you purchase flood insurance. So, if the weather forecast announces a flood alert for your area and you go to purchase coverage, it’s already too late. You will not be insured if you buy a policy a few days before a flood.
Flood insurance, you may think, is first and foremost meant for people who live near rivers or creeks, or on the coast. (And, oddly enough, those who live in these areas often believe that they don’t qualify for flood insurance because of the high risk factor.)
Neither is true.
Floods are the most common and costly natural disaster. And contrary to common belief, flooding is not restricted to hurricane-prone areas or large bodies of water, in fact, about 25%of all flood-related claims come from low to moderate risk areas.
A “flood” is defined as a general and temporary condition of partial or complete inundation of normally dry land areas from:
Floods can happen in the desert, during snowmelt, in developed areas or anywhere the ground is hard and does not absorb excess water. Erosion or inadequate drainage can also lead to floods or mudslides.
Flooding damages the foundation, structure, walls, floors and furniture of your home and none of this damage is covered by your homeowner’s policy! Federal disaster assistance, which is really a low-interest loan, is only available if the flooded area is declared a natural disaster, and most floods aren’t.
Flood insurance can protect you. It will cover direct physical losses and damage to the building itself, and is intended to get you back on your feet, and into your house, as soon as possible. It covers losses due to flood, flood-related erosion, excessive waters accompanied by a severe storm flash flood, abnormal tidal surge, tsunamis, and mudflows due to flooding.
Flood insurance is available for virtually everyone: homeowners, renters, houses, manufactured homes, condos, apartments, and commercial buildings, even in a floodplain. The only caveats are:
Don’t wait until it starts raining to buy flood insurance! There is a 30 day waiting period between your application and the effective date of your coverage.