Need for Storm Preparation Is One of Hurricane Ian's Legacies
ST. JOHNS, Fla., Sept. 27, 2023 /PRNewswire/ -- With Hurricane Ian's first anniversary approaching, and about two months remaining in the 2023 Atlantic hurricane season, residents and businesses along the Atlantic and Gulf coasts should remain vigilant, according to the Insurance Information Institute (Triple-I).
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"Take steps to make sure you're insured, and to make sure that you're protected," stated Sean Kevelighan, CEO, Triple-I. "How can you predict and prevent catastrophic loss for yourself? That's what we at Triple-I encourage consumers to think about."
Predict & Prevent, an initiative of The Institutes, which includes the Triple-I as one of its affiliates, explores new ways to prepare for some of the biggest risk challenges facing society today by working to better predict and prevent losses before they occur. The 2023 Atlantic hurricane season concludes on Nov. 30.
Hurricane Ian made landfall on Florida's southwest Gulf Coast as a Category 4 major hurricane on Sept. 28, 2022, causing a significant loss of life. Ian, which made a second landfall in South Carolina as a Category 1 hurricane on Sept. 30, 2022, is the second-costliest hurricane in U.S. history, as measured by insured loss payouts by auto, home, and business insurers.
"The Atlantic is extremely warm now, basically record warm temperatures there," stated Phil Klotzbach, Ph.D., a research scientist in the Department of Atmospheric Science at Colorado State University (CSU) and a Triple-I non-resident scholar. "The warmer Atlantic provides fuel for developing hurricanes."
Pete Moraga, Triple-I's Spanish language communications consultant, pointed to the importance of creating a home inventory. Nearly all homeowners and renters insurers make it easy for their policyholders to create one so insurance claims are processed even more quickly in the event of a loss.
Standard homeowners and renters insurance policies cover property damage caused by windstorms, such as hurricanes. Property damage to a home, a renter's possessions, or a business – resulting from either a flood or storm surge – is covered under a flood insurance policy, which is typically separate from a property insurance policy for a home, rental unit, or a business. Property damage to businesses caused by windstorms is typically covered under a Business Owners Policy (BOP) or through a Commercial Multi-Perill (CMP) policy.
Vehicles damaged by either flood or debris, such as falling trees, during hurricanes and other windstorms are covered under the optional comprehensive portion of an auto insurance policy.
SOURCE Insurance Information Institute
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