Home Equity Line of Credit: An Unexpected Safety Net for Storm Season

Hurricane season in Southwest and Central Florida can be unpredictable and we’ve certainly had our share of storms recently. The sight of snapped off trees and blue tarped roofs has become all too familiar with locals. We can't stop Mother Nature from doing her thing, but we can take a proactive approach to protecting what is typically one's most valuable asset - our home.

Why a HELOC?

At Crews Bank & Trust, we understand the challenges our communities face when storms approach because we live here too. That’s why our no-cost closing Home Equity Line of Credit (HELOC) can be an unexpected but smart financial tool to help you get prepared before the storms begin, to protect your home, and manage unexpected costs should you incur them from a storm.

Don’t wait until hurricane season is upon us; secure your HELOC early and have the peace of mind of knowing that if you need to do storm-proofing before the season starts or if you need to do repairs after, you will have funds available when you need them. With a HELOC, you can tap into the equity in your home and access funds to cover needed preparation or repairs without having to wait for insurance claims to be paid or a loan to be approved.

Before Hurricane Season

Before the hurricane season starts is the perfect time to get your home storm ready. Start prepping in the spring to allow for orders to come in, contractors to fit you into their schedule, and before the mad rush of hurricane prep affects store shelves and inventory levels.

Some common hurricane preparation uses for a HELOC would be:

• Install hurricane shutters or impact-resistance windows
• Replace old garage doors and tracks with wind-rated, impact-protection models
• Purchase backup generators, battery-powered systems and surge protection for electronics and appliances
• Reinforce or replace your roof before better storm resistance
• Remove or trim trees and large shrubbery to reduce storm-related hazards

Not only will you have the peace of mind knowing your home is secured for any storms, but these kinds of home upgrades also add to your home’s value and the interest paid on your HELOC may be tax deductible.

Before and After a Storm

Should a storm hit close to home, there are often unplanned expenses, and it may be weeks before your insurance company is able to pay out on your claim. To tide you over without having to drain your savings, you can use your HELOC to:

• Cover hotel stays, food and fuel if you must evacuate
• Supplement lost income due to time away from work or work closures
• Pay for extended hotel stays or rent if you must leave your home until it’s repaired
• Rent a car if your vehicle is damaged
• Fund water extraction, drying services and mold remediation
• Debris removal and cleanup crews
• Pay insurance deductibles
• Handle repairs that aren’t covered by insurance or are needed immediately
• Hire a contractor for immediate needs while waiting for claim payouts

As your Hometown bank, we at Crews Bank & Trust are able to offer quick decisions and personalized service because we are right here, in your community. You won’t find that kind of responsiveness at a big national bank.

Why choose a HELOC from Crews Bank & Trust?

• No closing costs – Save more from the start
• Smart borrowing for storm protection
• Peace of mind before, during, and after the storm
• Access to funds when you need them most
• Personalized service from local bankers who will know you by name

Don’t wait until a storm is on the horizon.

 Secure your financial safety net before the next storm hits.  Apply today for a Home Equity Line of Credit a with no-cost closing today.

Are you interested in a HELOC but have questions? We are here to help - visit your nearest Crews Bank & Trust location, give us a call or reach out to us online.

We want to help you be prepared for whatever life throws at you.