Tips on How to Support Maui – President’s Message August 2023

Maui is weighing heavy on our hearts.  The Smart Money ohana sends our love and aloha to all affected by this tragic event.  Although the last few days have been heartbreaking, it has also been awe-inspiring to see locals take swift action by donating their time, belongings, and money to those who are in desperate need.

Please be careful about where you donate, as scammers take advantage of situations like this.  The following links are from reputable websites that list where you can safely donate.

• Honolulu Civil Beat
• Hawaii News Now
• KHON2
• Hawaii Public Radio

If you know someone who lost their home and still has a mortgage, please direct them to the Consumer Financial Protection Bureau website.  This will give them a checklist of what to do if their home is damaged or destroyed.

https://www.consumerfinance.gov/ask-cfpb/what-should-i-do-if-my-house-is-destroyed-in-a-natural-disaster-en-1521/

Here are some other excellent tips given by KHON2.

1. Contact your insurer to get the claims process started. All policyholders should contact their insurer. Insurers can be contacted via their toll-free contact numbers, app, or website.
2. Auto Insurance – If your car was destroyed in the wildfires and you have comprehensive coverage, your company will work with you to file a claim and get you the benefits of your policy.
3. Boat/Marine Insurance – If your boat was damaged or destroyed in the wildfires, contact your boat insurer to file a claim.
4. Business Property Insurance – Businesses with business property coverage should list their inventory that has been destroyed.  If your business has been closed due to wildfires or loss of power, you may have business interruption coverage available under your policy. Talk to your agent or company.
5. Homeowners – Discuss coverage for temporary housing with your insurer. Your insurance may pay for temporary shelter immediately, and if your property is damaged, your coverage will help cover the cost of housing while you rebuild. Homeowners and renters insurance policies generally provide coverage for additional living expenses if a covered loss makes your home uninhabitable. Keep your hotel and meal receipts. If you own and rent out a secondary home that has been affected, talk to your agent or company about the coverage you may have available under a landlord policy. This might include loss of rental income while the home is repaired.
6. Travel Insurance – Tourists on vacation in Maui are being asked to move to another island or return home.  If you purchased travel insurance, contact your insurer for assistance and to ensure you know what documentation you will need to file a claim. Save your receipts for additional expenses you incur.

The silver lining in all of this is the massive outpouring of the locals’ support and love.  Many of us are moving faster than the government and are taking it into our own hands instead of waiting.  This is the Hawaii we all choose to live in.  The Hawaii that emanates love and the Aloha spirit.  Let’s all continue to support Maui and not let this be a short-term effort.

Hug your loved ones and tell them you love them as soon as possible.  Much love and Aloha from the Smart Money ohana.