Repairing a home that’s been destroyed in a hurricane, tornado, flood or fire can take quite a while, displacing homeowners during that time.
Captain founder and CEO Demetrius Gray noted that following storms, like the Katrina and Sandy hurricanes, the average primary recovery period was 14 months. Smaller storms can still take up to five months for financing and repairs to be completed as the homeowner works with their mortgage company, insurance provider and contractor to get the work completed.
Add in that the average homeowner insurance deductible is $1,000 and the fact that the average consumer has only $400 in savings, and you can imagine that homeowners have to find creative solutions to get back to no …
