CORRECTION: An earlier version of this story misstated the nature of additional flood insurance requirements. It is optional in most, but not all, cases. (10:45AM MST, October 28, 2024)

Since Hurricanes Helene and Milton devastated Florida, more than 49,000 insurance claims have been denied, leaving thousands of residents in financial uncertainty as they attempt to rebuild.

According to data from the Florida Office of Insurance Regulation, many companies denied claims related to flood damage, a peril not typically covered under standard homeowners' insurance policies.

Mark Friedlander, corporate communications director for the Insurance Information Institute, explains that many denied claims result from homeowners not having separate flood insurance, which is required for policyholders with Citizens Insurance and those with mortgages in high-risk zones.

"Standard home, condo and renters policies do not include flood damage," Friedlander pointed out. "If you're filing a flood loss with your property insurer, it's going to be denied. Another issue is not meeting the deductible; that's another big category of denials."

For instance, he noted if you have a $10,000 windstorm deductible and your damage is $8,000, there will be no claim payout. He added the threshold has led many homeowners to find themselves without compensation for damages falling just short of deductible limits. He emphasized property owners should consider purchasing separate flood-insurance policies to be fully financially protected.

For residents whose claims were denied, Friedlander advised considering Federal Emergency Management Agency assistance as a partial alternative. He revealed some homeowners intentionally file claims they know will be denied to meet FEMA requirements.

"In order to qualify for FEMA emergency grants, you must prove to FEMA that you did not have insurance coverage for the loss," Friedlander stressed. "The only way to do that is to get a denied claim. You need to show the letter from your insurer to FEMA as part of the application process for the grant."

Florida's high cost of property insurance added another layer of difficulty, with annual premiums averaging $5,527 dollars for a home valued at $300,000. The premium is more than twice the national average, creating a financial strain for many. Despite the recent hurricanes, Friedlander reassured residents Florida's insurance market remains resilient, crediting recent legislative reforms.


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Nearly half of Americans age 50 and older are using credit cards to pay for basic living expenses, according to a new AARP survey, and a Minnesota expert has tips on how to keep that debt from becoming a major problem.

In the same national survey, almost nine in 10 respondents say unexpected expenses have contributed to their credit card debt.

Kevin O'Laughlin, a certified financial advisor at TruMix Advisors in the Twin Cities, said the results aren't surprising, since rising consumer costs take a bite out of savings and Social Security payments can't always keep pace.

He encouraged older adults concerned about their balance going up to do some careful planning.

"I think it comes down to taking a real hard look at where are there opportunities to supplement one purchase for another," he said.

That means, if possible, holding off on non-necessary purchases. Other tips apply to people of any age, including paying more than the minimum monthly amount due on cards. O'Laughlin said you can also call the credit card company and request a lower interest rate or see about transferring your balance to one that has a more desirable rate.

If you're still paying a mortgage, O'Laughlin said seeking a refinancing deal shouldn't be ruled out. As these challenges escalate for seniors, he said, it's a reminder to prioritize the basic needs of this demographic.

"Whether that's through an increase to Social Security checks, or maybe just streamlining the ability to work, part time or in some limited capacity, in retirement to supplement their cash flow needs."

If it all seems overwhelming, he said there are financial planners and programs willing to guide older adults at no charge. O'Laughlin's firm takes on pro bono cases, and he pointed to Lutheran Social Services as another resource. The Minnesota Financial Planning Association also does outreach for these services.

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Pennsylvania residents who need assistance filing their income tax returns can use the free services of the AARP Foundation's Tax-Aide program.

You do not have to be an AARP member or a senior citizen to get help.

Kathleen Hoffer, program coordinator for AARP Pennsylvania, said the full-service tax program assists Pennsylvanians with federal, state and local returns. She added their main focus is to serve individuals with low to moderate incomes.

"We helped nearly 74,000 people in Pennsylvania last year and it resulted in $52 million in refunds for those folks," Hoffer reported. "We're doing as best we can, but we could do better especially if we had more volunteers."

Hoffer emphasized the volunteers are trained and IRS-certified to ensure they are up-to-date on the latest changes to the tax code. The nationwide program is available through mid-April. Volunteers have helped 1.7 million people secure nearly $1.3 billion in total refunds.

Hoffer noted individuals in rural, underserved areas may struggle with tax preparation access and adds they are working to assist them through virtual appointments. She explained the program offers several options such as in-person and drop-off services for taxpayers to get assistance.

"We also have assisted tax preparation," Hoffer pointed out. "We have where they can come in and bring their tax documents. They basically work on their tax return themselves. But then we have a counselor who can advise them or answer questions. As they are doing their own returns."

Hoffer emphasized their biggest challenge is recruiting more volunteers. With additional help, they can serve a greater number of people. She added volunteers are needed for administrative tasks, greeting clients, communications and technology support.

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Activists who believe Tesla CEO Elon Musk is overstepping his role in the Trump administration will protest today at a Tesla dealership in New Mexico's Sandoval County. Similar protests have taken place in Albuquerque and at Tesla dealerships nationwide.

Musk, the world's richest person, leads the so-called Department of Government Efficiency, tasked with saving money by firing federal employees and dismantling agencies.

Terry Eisenbart with Sandoval County Indivisible said many who have lost their jobs live in New Mexico.

"It is time to stand up and fight back with whatever is at our disposal," Eisenbart contended. "Peaceful protests are a huge way to gain the traction of the people that want to express themselves but don't even know where to begin."

Despite his previous vilification of electric vehicles, President Donald Trump went to bat for Musk's beleaguered car company on Tuesday. He showcased five Tesla vehicles in front of the White House and announced he had purchased one for $80,000. Musk donated $270 million to Trump's 2024 election campaign.

Eisenbart is especially concerned federal services she believes Americans want and need are being eliminated. She cited the closure of the Consumer Federal Protection Bureau on Feb. 8, which, Russell Vought, director of the Office of Management and Budget, called a "woke" and "weaponized" agency. Eisenbart stressed the closure hits close to home.

"The Consumer Financial Protection Bureau, when they shut it down the other day -- my sister has personally benefited by that -- and it made the whole difference in her life, by the actions that organization took on her behalf," Eisenbart explained.

Sen. Elizabeth Warren, D-Mass., was instrumental in establishing the independent agency after the financial crisis of 2007 and 2008. DOGE claims total government savings of at least $105 billion so far but news agencies have not been able to verify the savings.


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