Coastal New England to Feel Impact of Hurricane Lee’s Wind, Rain

For immediate release
New York Press Office: Michael Barry, 917-923-8245, michaelb@iii.org

NEW YORK, Sept. 15, 2023 —Homeowners, renters, businesses, and vehicle owners in coastal New England should know what’s covered under standard insurance policies as Hurricane Lee nears, according to the Insurance Information Institute (Triple-I). 

Tropical storm conditions are expected to begin this afternoon in Maine and Massachusetts, the National Hurricane Center forecasts.  Residents of these two states should monitor media reports today of Lee’s path and consult their insurance professional if they have any questions about their policies.

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. Flood policies are underwritten through FEMA’s National Flood Insurance Program (NFIP) and private insurers. Storm surge is generally defined as rising waters moving inland from the shoreline.

Property damage to businesses caused by windstorms is typically covered under a Business Owners Policy (BOP) or through a Commercial Multiple Peril (CMP) policy.
Vehicles damaged by either flood or debris, such as falling trees, during windstorms are covered under the optional comprehensive portion of an auto insurance policy. Nearly 80 percent of U.S. drivers have purchased comprehensive coverage.  

RELATED LINKS:   

Video: 
Update on Hurricane Lee from Dr. Phil Klotzbach, a Triple-I non-resident scholar

Facts & Statistics: 
Homeowners and Renters Insurance 

Article: 
Understanding the Claims Payment Process 

Infographic:
Hurricane Deductibles

Website:
Triple-I’s Resilience Accelerator