Hurricane season is bringing more attention to flood protection
The 2014 Atlantic hurricane season has started, and weather forecasters are predicting that this season may be quite active, but the storms emerging during the season may be modest due to the effects of El Nino. There is no certain way to tell whether or not the hurricane season will be free of any powerful storms, as 2012’s Hurricane Sandy was quite unexpected itself. The impact of an unexpected storm can be devastating, which is why there is a growing interest in insurance coverage that is designed to protect against such natural disasters.
Unexpectedly powerful storms have caused serious problems for many homeowners in the US
The insurance industry is well suited to manage the effects of powerful natural disasters, but understanding the type of coverage that is available and exactly what this coverage protects against is sometimes difficult to understand. Notably, most homeowners insurance policies provide coverage for a wide range of natural disasters, with some offering protection against wind damage. Most private insurance companies do not offer flood protection, however, which is not necessarily a well known fact among homeowners in areas that could be exposed to hurricane disasters.
Many homeowners are lacking the insurance coverage needed to protect them from flood damage
Flood protection for properties must typically come from the National Flood Insurance Program, which is managed by FEMA. Victims of Hurricane Sandy found out quickly that they properties were not protected against flood damage, which has become quite a controversial issue for the insurance industry over the past year. In the states that were most affected by Hurricane Sandy, many homeowners are still struggling to recover from the disaster due to the damage caused to their properties by floods.
Homeowners are being encouraged to check their policies and ensure that they have adequate protection
Insurers are encouraging homeowners to ensure that their property insurance is suitable to the risks they face. Those in hurricane prone areas are being encouraged to purchase flood protection from the National Flood Insurance Program in order to avoid the costly issues that are associated with flood damage.