Author: Emma Caplan-Fisher

Some Florida homeowners hardest hit by hurricanes Milton and Helene must now also see their homes completely demolished or, if they’re lucky, elevated.

This follows a federal mandate that impacts majorly damaged homes — those impacted by natural disasters. Federal Emergency Management Agency’s (FEMA) 50% rule dictates that if a house is in a flood zone and local building officials deem it to be substantially damaged, straightforward repairs may not be sufficient.

The complex regulation kicks in when the repair costs exceed 50% of the home’s market value (the test for “substantially damaged”), amounting to hundreds of thousands of dollars for the homeowners.

The impact of hurricanes Milton and Helene

Hurricane Milton took at least 24 lives in Florida and caused over $34.3 billion in damages last October, while just days prior, Hurricane Helene’s aftermath killed 34 in the state and caused over $78.7 billion in damages across the U.S.

The west coast barrier islands of Pinellas County were one of the state’s most impacted areas. Redington Shores resident Derek Brunney has lived in his home for over 20 years and has had to contend with it being demolished.

“You start seeing different events you had on the property. Weddings, birthdays, things like that. It just rehashed everything," Brunney told WFLA News Channel 8 On Your Side about the aftermath. "It’s one step forward, two, or three steps back. You get punched in the eye at the same time.”

The trouble for many homeowners like Brunney is that they still must pay for their insurance and utilities. But he — and many other Florida homeowners — still hold out hope for a better future.

“It’s slow,” he said. “It’s daunting. It’s exhausting, but it’s the only way you’re going to move forward right now until you get to the end of it.”

How to budget for the unexpected

When it comes to home repairs and rising insurance costs, you often can’t anticipate when they’ll hit. The key is to be prepared. While this isn’t a simple feat for many, there are some practical things you can start doing today to budget for the future and any rebuilding efforts.

Set aside emergency savings. Aim to save what you can each year for emergency repairs and maintenance. Ideally, your fund will cover three months worth of minimum monthly expenses, but if you’re in a disaster-prone area, you’ll need to prepare for more than the bare minimum because such expenses fall beyond the parameters of regular expenses. To get a sense of what you’d need to put away, you can try using a savings goal calculator, or plain old pencil and paper. While those funds sit tight, invest them independently in something that earns interest yet keeps them separate and accessible, like a high-yield savings account.

Understand your insurance plan and exactly what you are and aren’t covered for. Review your home insurance policy in detail every year, and don’t hesitate to contact your agent to clarify terms. Ask questions. Document answers. Make sure you understand deductibles, exclusions and any limits on claims.

Prepare and save for increased premiums. Track trends in local insurance rates and adjust your budget accordingly. Even if you aren’t in an area of direct impact when it comes to natural disasters like fires and hurricanes, you may be surprised to learn, your premiums may still be going up. Others in “high-catastrophy states” may also need to prepare. Understand why this may be the case, and prepare to shop around for the best rates for the coverage you need, if necessary.

Future-proof your home against natural disasters. Start with small projects like installing storm shutters and sump pumps, reinforcing your roof and replacing lighter materials with more durable alternatives. Then, consider larger upgrades like hurricane resistance or seismic retrofits, and flood barriers. Fireproofing his home made all the difference for this California resident.

Look into state-wide programs to help offset costs. For example, Elevate Florida, the state’s first elevation mitigation program, was designed to "enhance community resilience by mitigating private residences against natural hazards." It provides eligible homeowners with at least 75% of their costs for structure elevation, mitigation reconstruction, acquisition/demolition or wind mitigation. Research and use all the programs and funds available to you.

With these measures, you can rest assured you are being proactive in protecting your home and your future.

This article provides information only and should not be construed as advice. It is provided without warranty of any kind.

The heart of San Francisco’s Chinatown is under siege — not by bulldozers or policy bans, but by something just as destructive: rising tariffs.

The neighbourhood’s small shops are feeling the pinch from U.S. tariffs on China, which are now at 20%. The owners have weathered economic downturns for generations, shifting demographics, and even the pandemic. These businesses operate on small margins, face tight competition, and serve a largely elderly clientele living on fixed incomes.

Edward Lau, who owns a shop selling China-imported herbal products and supplements for pain relief, is among the business owners worried about the impact. Raising prices to offset higher costs could drive customers away, gravely impacting their livelihoods. However, absorbing these increased costs indefinitely isn’t sustainable.

"It’s becoming more expensive so people will start thinking of alternatives or simply won’t use it … They’ll be hit really hard," Lau told CBS News. "The uncertainty makes it really hard to do business."

Although over 90% of North American manufacturers moved at least some of their production out of China between 2018 and 2023, small mom-and-pop businesses like Lau’s will continue to struggle under current conditions.

The impact of tariffs on small businesses

Tariffs are directly increasing the cost of imported goods — such as merchandise, food items and supplies — that small businesses rely on, both in San Francisco’s Chinatown and across the country.

Beyond higher costs, supply chain disruptions caused by tariffs can make some imports scarce or only available at steep prices.

As a result, owners struggle with strained cash flow and lower profit margins. Without financial reserves or a buffer, many have no choice but to raise prices or adjust their pricing strategies.

The longer these challenges persist, the greater the impact on customers. Many may turn to larger competitors, which benefit from economies of scale and can keep prices down.

How consumers can cope — and help

If rising costs are affecting your go-to products, it can sting. The good news? There are ways to cope with the shift while also supporting small businesses.

• Buy locally sourced alternatives and make direct purchases from small businesses. This eliminates intermediaries, helping to keep costs down.
• Compare prices and hunt for discounts. Taking time to comparison shop, use coupons and plan around sales can make a difference.
• Consider generic brands or bulk purchases when they offer better value.
• Use a cash-back credit card. Many credit cards offer rewards based on spending categories. If you can pay your balance in full each month to avoid interest, you can turn everyday spending into extra savings.
• Consider vintage, refurbished or like-new its. Gently used or vintage goods are often more affordable. Many retailers also sell certified refurbished electronics and furniture at a fraction of the price of new ones. Just check for warranties and authentication where needed.
• Adjust your budget and lifestyle. Small tweaks — like dining out less, finding free or low-cost entertainment or hosting friends at home — can help absorb rising costs on essential purchases.

By making strategic choices, you can ease the financial strain while helping small businesses stay afloat.

This article provides information only and should not be construed as advice. It is provided without warranty of any kind.

In November, just before Thanksgiving, Ben Phillips called Box Appliance, a San Francisco Bay Area appliance repair company he’d used before, to fix a leak in his 22-year-old refrigerator.

But this time around, after several visits and a $4,000 bill, the technician not only upsold him to replace the compressor, but they also didn’t actually fix the leak.

That’s when Phillips noticed there was not one but two Box Appliances online.

"I go, I’ve been taken here," he told ABC 7 News. "I can’t believe I fell for it."

Phillips was later told by a real Box Appliance technician that the refrigerator couldn’t be repaired and, worse, that they wouldn’t have even taken the job. "That would have saved me," Phillips, whose temporary solution became a shower pan and paper towels, had responded.

The appliance scam

Box Appliance is fully aware someone is impersonating them, stealing thousands of dollars from their customers and not fixing their appliances.

"It’s really hard explaining to these customers that they were swindled, basically," Stephanie Chapman, Box Appliance customer service manager, told 7 News.

The scammers buy domains and domain extensions similar to their own, including "box-appliance" or "boxappliances.co," Chapman explained.

Then, according to Box Appliance president Ryan Bergo, they use sponsored ads to rank higher on Google, getting exposure and appointments. While he and his team have tried to have the fake sites removed, Bergo described it as playing whack-a-mole.

"We take one down and another one goes right back up," he told 7 News.

Regardless, the company is warning customers to ensure they’re on the correct website and calling the right phone number. Bergo also says real Box Appliance technicians have vans with Sub-Zero logos on them, whereas the impersonating technicians come in unmarked vehicles.

Victims have filed reports, and the Santa Clara County Sheriff’s Office is one agency investigating the issue — and trying to find those posting the fake sites. They want to hear from anyone in the county who’s been impacted.

"We’re seeing this not only in the Bay Area but across the state," Brooks Jarosz, senior communications officer with the Santa Clara County Sheriff’s Office, told the news channel.

How to protect yourself and avoid financial losses

Although Phillips wasn’t so lucky, there are things you can do to protect yourself and avoid falling victim to similar scams.

• Verify service providers through trusted sources, like the Better Business Bureau. You can also use the Bureau of Household Goods and Services or other similar resources to verify the license of a repair company and confirm their legitimacy.

• Check for official certifications. If a company claims they hold a certification, look it up. Spend time researching the certifying body’s website or calling the organization to verify what their certification means and that the business in question is being honest.

• Check company reviews. There will always be poor reviews and less-than-happy customers, but the red flag to watch for is if the company is consistently low-rated across the board. Be sure to look at reviews not only on their website but also on third-party sites, like Google or Yelp.

• Understand how to report fraud. If you do end up victimized by a scam, visit the Federal Trade Commission’s site, ReportFraud.ftc.gov, to report it and see if you are eligible for available support. You can also check your state’s consumer protection office for additional information and resources.

This article provides information only and should not be construed as advice. It is provided without warranty of any kind.