The Yukon government has unveiled the 2024-25 Disaster Financial Assistance program aimed at helping Yukoners recover financially from a natural disaster.

Yukoners may receive financial assistance for eligible damage costs to principal residences, personal possessions, farms or small businesses.

This is up to a maximum of $250,000 for homeowners or the property’s assessment value, whichever is less; and up to $500,000 for farmers and small business owners for eligible damage costs.

The program is a commitment in the Our Clean Future strategy, containing three funding streams for households, small businesses and farms.

The support will be used for repairing disaster-damaged primary residences and providing financial support for businesses and agricultural landowners with disaster-related property damage or loss.

Funding conditions align with the federal Disaster Financial Assistance Arrangements program, which supports provinces and territories with recovery costs from large disaster events.

“The Disaster Financial Assistance program will help Yukoners quickly and effectively receive needed financial supports should they need financial help to recover from a natural disaster,” the government said in a statement Wednesday.

“As the climate changes and our population grows, our emergency preparations need to include how we help those impacted by a disaster,” added Community Services Minister Richard Mostyn.

“The Disaster Financial Assistance Program offers reassurance to Yukoners by ensuring swift aid during times of need, and by defining expectations regarding available supports.”

The government will determine whether to activate a Yukon Disaster Financial Assistance program after a disaster.

Not all disaster events will be eligible. Generally, eligible events will have damages that are widespread, affect a large area or number of residents and are mostly uninsurable.