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Hurricanes are one of nature’s most destructive weather occurrences. They start as smaller storms and most rage harmlessly in the ocean. Occasionally, though, they grow into powerful storm systems with intense winds and heavy rain.
These storms often run their course without hitting land or populated areas. But sometimes they cause billions of dollars in damage to homes, offices, and landscapes. They can disrupt your life, your business and general commerce across wide areas.
It’s a hurricane when winds go above 74 miles per hour. The most violent winds and heavy rains occur just outside the “eye” of the storm. These storms often produce destructive tornadoes. The slower they move, the more likely they are to cause flooding.
Even Category-One storms, like Hurricane Floyd, have caused billions of dollars in damage. Hurricane Katrina was one of the most costly hurricanes in history, flooding New Orleans, destroying homes and businesses, and claiming many lives. And if you lived in neighboring states, you know the damage didn’t stop there.
Then of course, there was Hurricane Irene this past weekend …
By early Tuesday, at least 46 deaths had been attributed to the storm, stretching from North Carolina to Vermont. The rising death toll puts Irene among the 30 deadliest hurricanes in U.S. history. And the economic damage could hit $12 billion or more.
Hurricane season runs from June 1 through November. Even if you’re not in areas most noted for hurricanes, don’t think you’re immune. As we found this weekend, many devastating storms have hit the United States at various points along the east coast and pushed inland. And cities all around the Gulf of Mexico have gotten hit with major storms on a fairly regular basis.
While it’s true, hurricanes are one of the natural disasters that seem to give us fair warning — usually we hear about them at least a week before they arrive — the last thing you want to do is be complacent. Perhaps the coming storm won’t land on your doorstep. But what if it does?
You’ll be smart to make preparations well in advance of any disaster — even mere tropical storms can be devastating. What should you do to ensure the safety of your home, office and family before an emergency is at hand?
There are numerous guides to help you with the basics, such as stockpiling food and water and having a plan in case you have to evacuate. The more you prepare, the better your chances of staying safe and safeguarding your property during an emergency.
But being prepared also means asking yourself …
Will My Insurer Be
There When It’s Over?
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| Imagine how it would feel to have survived a disaster, such as a hurricane or flood, only to discover your insurance company couldn’t pay your claim. |
If you own a home or even if you’re a renter, your property and casualty insurer should be front and center in your financial plan.
Your home is probably the biggest investment you’ll make. And the contents in your home, whether you own or rent, also reflect a substantial investment. Not to mention the value of personal items such as clothes, family heirlooms and the cool electronics you’ve invested in.
If you want to make sure you’ll be covered when you need it, check the financial stability of your property and casualty insurer. At WeissRatings.com, you can search for your insurer’s financial strength rating. And make smart decisions by selecting an insurer that’s financially stable. They can’t keep your home out of danger, but they’re more likely to step up when you need them most.
An insurance company that is financially capable of sending a representative quickly and paying your claims quickly will help you get back on your feet, reclaim your life, your home and your belongings without adding more stress to the situation.
What if your insurance company is hit with multiple claims because damages reach beyond just your home and local community? Could you end up with an insurer that’s unable to pay your claim? Could they delay paying your claim and make your life miserable while you wait and wait for money to pay for materials and contractors to repair damage?
It could happen.
So don’t let it happen to you! Make sure your insurer is on the Weiss list of strongest homeowner insurers. And think very seriously about changing insurance carriers if yours is on the Weiss weakest list.
Why wait to find out your insurer can’t help you when you need it. It’s best to be proactive. Make sure you know your insurer is financially stable. Check Weiss Ratings to keep the insurance aspects of your financial plan on track. Just register, it’s free!
Best wishes and stay safe!
Weiss Ratings
{ 2 comments }
Hi
There is a fairly good chance that many in your country don’t know what is going to happen. The Fed has been trying to recapitalize your banks to help them survive. Your banks don’t give a damn about the public and will suck the life blood out of your system to survive. They have a solvency crisis that they are not being honest about and your dollar is being debased. Your unworkable Wall street government in company with the Fed are pouring cash into the deepest of deep black holes until there is really nothing left. No one wants to do what has to be done and recognize the losses and break up the banks. This is only a start but the weaker your government becomes and the fewer the options the harder the fall will be. The bond market will suffer defaults and the derivatives market for some will be catastrophic. Look at your own research and ask yourselves if you see a different outcome I would love to have your thoughts. Howard Dimond. September 2011
You mention Insurance companies and banks. How about the “Clearing Agent” etc. that holds my stock and money? For example, my account is held by J.P.Morgan Clearing Corp. which is a subsidiary of J.P. Morgan Securities LLC. How solvent are they? I get nothing when I check the name on Watchdog. Isn’t this critical?