The spring storms are on their way, and if there’s anything that could be learned from the record breaking natural events that occurred last year, it was that it’s very important to be prepared for their arrival. Though there’s nothing that you can do to stop the storms, there are a few precautions that you can take to give you some peace of mind when the big storm strikes. As a reminder, Spring Severe Weather Awareness Week is running from March 25 to March 30, spreading the word about the…
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Understanding what is – and is not – covered by tornado insurance
The surge of destructive and deadly twisters last week has put the spotlight on tornado insurance once more, as consumers attempt to understand the type of coverage that it will provide, including why many homeowners are still forced to pay repair bills related to tornado damage regardless of their policies. The Insurance Information Institute has said that the majority of insurance policies for homeowners, businesses, and vehicles will include tornadoes as an element of their standard severe weather and wind coverage. Typically speaking, renters’ and homeowners’ insurance will cover the…
Read MoreEqecat weighs in on the recent storm in Midwest and Southern U.S
Last week’s outbreak of devastating tornadoes in the South and Midwest of the U.S. are likely to cost the insurance industry quite a lot of money. Thus far, no insurer has been keen to release estimates regarding the total cost of the disasters, but risk modeling agency Eqecat is willing to hazard a guess. The acclaimed modeling firm says that this year’s storm season is already looking to be 30% more disastrous and costly than the average of previous years. The firm also notes that tornadoes may be one of…
Read MoreCatastrophic tornados trample the South and Midwest, claiming 33 lives
An outbreak of deadly and devastating tornadoes wrought havoc in many Southern and Midwest states over the weekend. The disasters began on Friday last week. The tornadoes struck a major blow to four states: Kentucky, Indiana, Ohio and Alabama. The people in these states had little warning of the storms, which manifested at an alarmingly fast pace. The tornadoes quickly grew in intensity and caused a significant amount of damage to everything in their path. When the winds finally calmed after hours of fury, approximately 33 people were found dead.…
Read MoreStates hardest hit by tornados in the U.S
The tornadoes that struck the South and Midwest American states this week, leaving 13 people dead and injuring many others, have drawn attention to the risk of twisters once again, following closely on the heels of 2011’s record breaking year for those and other severe weather events. Last year was the deadliest storm season in over three quarters of a century, and thunderstorms and tornadoes brought about approximately $25 billion in uninsured losses. Though the data regarding which states were struck most by tornadoes last year has yet to be…
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