‘Snowmageddon’

As a second major snow storm in less than a week hits the Northeast, the National Weather Service has issued blizzard warnings that extend into New York City, where it says  10 to 16 inches of snow can be expected. As of 4am EST, winter storm warnings and winter weather advisories were in effect across a region stretching from near Chicago through the Ohio Valley all the way into southern New England. Snowfall totals late Tuesday and into early Wednesday at Baltimore, MD, Washington, DC and Wilmington, DE from this most recent storm have made the winter of 2009-2010 the snowiest on record for these cities, according to the National Weather Service. This severe weather map from Weather Underground (wunderground.com) shows the extent of the winter weather (areas in white)  across the Northeast.

NEsnowmap021010

Winter storms can be costly for insurers. Insurance Information Institute (I.I.I.) research shows that winter storms result in about $1 billion in insured losses annually and are the third largest cause of catastrophe losses, behind hurricanes and tornadoes. Melting snow can inflict significant damage to property. From 1999-2008 winter storms resulted in more than $7 billion in insured losses. Winter storms also account for a large proportion of homeowners claims each year. In 2007, water damage and freezing accounted for approximately 22 percent of all homeowners claims in the country. Check out I.I.I. info on insurance coverage for winter-related damage.

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