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What Insurers Have Learned From Recent Hurricanes

In 2017, 16 separate billion-dollar disaster events occurred with a cumulative cost surpassing $300 million. Three of the very costly, disruptive, and dangerous events were hurricanes: Irma, Maria, and Harvey. This prompted insurers to evaluate certain aspects of the insurance industry.

Although the smartest insurers use weather data throughout the year, hurricane season is certainly one of the most crucial times to engage in the practice. Weather data offers various benefits, from validating claims following a billion-dollar disaster to real-time event preparation.

Following the disasters that occurred in 2017, insured parties and insurers have an opportunity to learn and make relevant adjustments in response to catastrophic events in the future. Here’s a list of lessons insurers have learned for current hurricanes.

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Hurricane Insurance

How To Tell If You Need Hurricane Insurance

Hurricanes are enormous storms that develop over water before making their way into land in coastal areas. During the hurricane season, numerous coastal property and homeowners worry about the resulting damage and whether they’re covered by insurance.

The approach of this disaster is a terrible time to discover that your home lacks insufficient insurance coverage. Beware that once a hurricane warning has been issued, insurance firms won’t allow you to obtain additional or new insurance coverage.

Therefore, it’s imperative you meet your insurance needs before hurricane season. If you’re wondering whether you need this product, check out this guide.

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