Preparing Your Home
For a Hurricane
by Alexandra Kaptik
From The Wall Street Journal Online
August 31, 2005
While it may be too early to predict the damage costs of Hurricane Katrina, preliminary estimates suggest that insured losses from the storm could be between $9 billion and $26 billion. Hurricane Andrew in 1992, the costliest storm on record, caused $21 billion of insured losses in 2004 dollars. Forecasters are predicting more major storms for hurricane season, which peaks in early-to-mid September and ends Nov. 30.
WHAT TO DO: Insurance coverage for hurricane-related damage to property is rarely straightforward. Make sure you have the appropriate policies, on top of regular homeowners' insurance, that cover both wind and flood damage. Despite your insurance, you may not be covered for mold. Read about ways to protect your home to keep out wind and water, plus see advice on how to retrofit your home. Learn about dealing with hurricane disasters when they strike. The National Hurricane Center can help you prepare for and track storms.
|
Costly Damages
|
|||
| Top 10 hurricanes by insured losses, in 2004 dollars. | |||
| Hurricane | Insured Loss | Year | |
| Andrew | $20.9 billion | 1992 | |
| Charley | 7.5 billion | 2004 | |
| Ivan | 7.1 billion | 2004 | |
| Hugo | 6.4 billion | 1989 | |
| Frances | 4.6 billion | 2004 | |
| Jeanne | 3.7 billion | 2004 | |
| Georges | 3.4 billion | 1998 | |
| Opal | 2.6 billion | 1995 | |
| Floyd | 2.2 billion | 1999 | |
| Iniki | 2.2 billion | 1992 | |
| Source: Insurance Information Institute | |||
Email your comments to rjeditor@dowjones.com.
