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NEW YORK, Aug. 25, 2020 – Hurricane Laura is expected to make landfall as a Category 3 hurricane near the border of Louisiana and Texas late Wednesday or early Thursday and then move northward into Oklahoma and Arkansas, where it will still be a strong storm system, according to the Insurance Information Institute (Triple-I).
Property damage to a home, a renter’s possessions, and a business – resulting from a flood – is generally covered under FEMA National Flood Insurance Program (NFIP) policies, if the homeowner, renter or business has purchased one. Several private insurers also offer flood insurance.
Private-passenger vehicles damaged or destroyed by either wind or flooding are covered under the optional comprehensive portion of an auto insurance policy. Nearly 80 percent of U.S. drivers choose to purchase comprehensive coverage.
Through its Resilience Accelerator and the organization’s other educational materials, the Triple-I offers facts, insights, and analysis on each of the state insurance markets in Hurricane Laura’s path.
What Are Hurricane Deductibles?
FEMA’s National Flood Insurance Program (NFIP)