Tag Archives: Hurricane Florence

The 2018 Hurricane Season: A Retrospective

Hurricane Michael

The 2018 hurricane season officially ended on November 30. The National Oceanic and Atmospheric Administration’s (NOAA) storm counts for the season were: 15 named storms, including eight hurricanes. Two of these were “major” hurricanes (Category 3, 4 or 5).

To put that into perspective, the average hurricane season has 12 named storms, including six hurricanes, of which three are major. That makes 2018 a little worse than a “normal” year, and well within NOAA’s predictions before the start of the season on June 1.

Fortunately, these numbers are down from the especially destructive 2017 season, which included the so-called “HIM” storms (Harvey, Irma, and Maria). In 2017 there were 17 named storms, including 10 hurricanes, of which six were major.

But that is little comfort to the people affected by the two major hurricanes, Florence and Michael.

Hurricane Florence: Florence reached Category 4 status on September 10, making landfall on September 14 in North Carolina as a Category 1. Because the storm moved very slowly, Florence dumped at least 30 inches of rain in parts of North Carolina, setting a record in the state for rain from a hurricane.

Catastrophe modelers have estimated that insured losses from Hurricane Florence could range from $2.5 billion to $5.0 billion, excluding National Flood Insurance Program losses. Worryingly, it’s been estimated that somewhere between 70 percent and 85 percent of flood losses are uninsured (get flood insurance, everybody).

Hurricane Michael: Michael became a strong Category 4 storm on October 10 and made landfall shortly afterward in the Florida panhandle. The storm registered wind speeds just under Category 5-level speeds, making Michael perhaps the strongest hurricane to ever hit the Florida panhandle.

Catastrophe modelers estimated that insured losses from Hurricane Michael could range from $6 billion to $10 billion.

(The loss numbers for both hurricanes are subject to change, since losses are still being adjusted and paid out.)

In comparison, the Property Claims Services (PCS) unit of ISO estimates that insured losses from Hurricane Harvey will top $14 billion. PCS estimates that insured losses from Hurricane Irma will be more than $20 billion.

At a high level, the 2018 season was bad – but compared to last year, it could also have been a whole lot worse. Not that that’s any comfort to people who lost homes or family members. Hopefully 2019 will be calmer.

For more information on the 2018 season, see the I.I.I.’s Facts + Statistics: Hurricanes page. And again, get flood insurance.

Insurance consortium offers geospatial intelligence

Aircraft carrying sophisticated image sensors are flying over the Carolinas this week to gather high quality photographs of areas impacted by Hurricane Florence.

Image of damage on Emerald Isle NC. This was one of the first areas that GIC flew over earlier this week.

Within 24 hours of capture, the images will be published online to provide State Emergency Operation Centers with high-resolution representations of disaster areas. The images will be 10 to 15 times better than satellite imagery.

The images are captured by the Geospatial Intelligence Center (GIC), a first-of-its-kind consortium  formed by the National Insurance Crime Bureau (NICB), former founders of Microsoft Bing Maps (now Vexcel Imaging), and several insurers.

GIC’s response efforts proved critical in 2017, when it provided unprecedented access to post-disaster aerials over Texas, Florida, Puerto Rico and the U.S. Virgin Islands – covering larger areas than any other response to date.

You Need Flood Insurance

Homes under water after Hurricane Harvey.

We talk a lot about flood insurance at I.I.I. for at least two good reasons:

  • It’s the most common and costly natural disaster in the United States, with billions of economic losses every year. According to the National Flood Insurance Program (NFIP), 90 percent of natural disasters in the U.S. involve flooding.
  • A 2016 I.I.I. survey found that 43 percent of US homeowners incorrectly think that heavy rain flooding is covered under their homeowners insurance – and only 12 percent had flood insurance.

Floods happen. Regularly. Even if you’re not in a flood zone – and even if you’re not usually in the path of a hurricane. If your home gets flooded, it will be a financial and emotional nightmare: FEMA argues that only 1 inch of water can cause $25,000 of damage to your home.

Your homeowners insurance won’t cover floods: If you don’t have flood insurance for your home, you probably aren’t covered under your homeowners or renters policies because flood risks used to be considered uninsurable.

To address this lack of coverage, the National Flood Insurance Program (NFIP) was created back in the 1960s. The NFIP is a federal program that provides flood insurance to participating communities. If your community participates in the program, you can often purchase insurance through a private insurer that handles policies and claims on behalf of the NFIP.

Private insurers have also recently begun offering flood insurance outside of the NFIP, as new modeling techniques have helped them get a better handle on the risks and costs.

Flood insurance will usually cover physical losses to your home caused by floods or flood-related events, like erosion – with some limitations (trees and fences aren’t covered, for example). You can also buy coverage for the contents inside your home, making flood insurance a crucial tool to help you get back on your feet.

Because disaster assistance won’t be enough: disaster assistance is often only available if you live in a declared disaster area. And even if you are, the FEMA disaster grant is only about $5,000 per household, a fraction of the average flood insurance claim of $30,000.

Flood insurance pays whether you’re in a declared disaster zone or not.

To learn more about how flood insurance works, see our resources here at I.I.I.:

Hurricane Dos and Don’ts

If you live in the projected path of Hurricane Florence, you should be prepping your home and finalizing your emergency and evacuation plans.  

Heavy rain and wind storm at a beach front condo property.

Here are some Dos and Don’ts to consider for prepping and riding out the storm.  

Don’t: 

  • Don’t go outside during the storm. This is a no-brainer. Even a category 1 hurricane can reach sustained winds of 74 mph. Category 5 winds are over 156 mph. Wind speeds like this can turn even small debris into deadly missiles. And don’t be fooled by the eye of the storm – there will be a period of calm before the hurricane force winds return from the opposite direction.
  • Don’t grill indoors. If your power goes out, don’t be tempted to throw some steaks onto a grill indoors. Charcoal or gas grills can release deadly levels of carbon monoxide.
  • Don’t drink non-bottled or untreated water. Flood waters are often filled with bacteria and other contaminants – including sewage. Don’t drink tap water – and don’t drink any water exposed to flood water, including bottled water. The FDA has tips on how to make your tap water safe to drink.
  • Don’t drink alcohol. I repeat: Don’t drink alcohol during a hurricane. You never know when you will need to evacuate at a moment’s notice or deal with a life-threatening emergency. You’re going to want all your wits about you while the hurricane is raging – lives could depend on it, yours included. That’s why some jurisdictions will ban alcohol sales prior to a hurricane.  

Do: 

  • Do stock up on lots of water. The CDC recommends at least 5 gallons of water per person. You may also want to buy iodine tablets to clean drinking water.  
  • Do make sure you have more to eat than chips and salsa. Or bread, for that matter – you’re going to want to have lots of non-perishables with nutritional value, especially canned foods. A minimum 3 to 5-day supply per person is recommended.
  • Do prepare your house properly. Clear your yard of furniture or anything else that could blow away. Cover your windows and doors using storm shutters or plywood – and stay away from windows and doors during the storm, if you can. Make sure your carbon dioxide detector has enough battery life to prevent CO poisoning. (Check out a longer list for house prep here. I.I.I. also recently gave some advice on preparing your home.)
  • Do be responsible and prepare for the worst. Make sure you have emergency and evacuation plans in place before the storm hits. Communicate these plans to everyone at your house. Find out where the nearest storm shelter is. Keep track of the storm. Have flashlights and extra batteries ready. Buy a first aid kit. Ready.gov has more advice here 

These are not exhaustive lists. Make sure to check governmental information for help on prepping for a hurricane. And be safe out there. Hurricanes are not a joke. 

Hurricane Florence – property losses and insurance implications

Approximately 758,657 homes in North Carolina, South Carolina and Virginia with a reconstruction cost value (RCV) of approximately $170.2 billion are at potential risk of storm surge damage from Hurricane Florence, according to a Corelogic® release.

As we continue to keep a close watch on Hurricane Florence, we’ve put together a list of our content to help understand the insurance implications of storm related property losses.

Hurricane Florence – Home preparedness tips

Hurricane Florence is expected to make landfall along the Southeast or Mid-Atlantic coast as a category 4 storm on September 13.

According to computer model forecasts, Florence will come ashore in Southeast North Carolina, although slight variations could alter the path of the storm that will affect areas of the nation that are far away from the location of its landfall.

A state of emergency has been declared in South Carolina, North Carolina and Virginia in order to mobilize resources to mitigate the effects of the storm. If you are in the path of the storm, plan your evacuation route ahead of time!

Below are just a few steps you can take to protect your home:

  • Cut weak branches and trees that could fall on your house and keep shrubbery trimmed.
  • Hurricane force winds can turn landscaping materials into missiles that can break windows and doors. Much of the property damage associated with hurricanes occurs after the windstorm, when rain enters structures through broken windows, doors, and openings in the roof.
  • If you don’t have storm shutters to protect your windows from breakage, fit plywood panels to your windows, which can be nailed to window frames when a storm approaches.
  • Make sure exterior doors are hurricane-proof and have at least three hinges and a dead bolt lock that is at least one-inch long.
  • Seal outside wall openings such as vents, outdoor electrical outlets, garden hose bibs and locations where cables or pipes go through the wall. Use a high quality urethane-based caulk to prevent water penetration.
  • If you live in a mobile home, make sure you know how to secure it against high winds and be sure to review your mobile home insurance policy.
  • If you have a boat on a trailer, know how to anchor the trailer to the ground or house—and review your boat insurance policy.
  • If you have a swimming pool, lower the water level (additional tips here.)

For more detail on what to do when a hurricane threatens click here.