While the last few hurricane seasons have been relatively quiet, weather forecasting professionals have indicated that the trend is not expected to continue. AccuWeather has predicted that the 2024 Atlantic hurricane season will be fiercer than last year, with 20 to 25 named storms predicted. This is partly due to the expected return of La Niña conditions to the Pacific Ocean, which will reduce the amount of vertical wind shear in the Atlantic Ocean, leading to prime hurricane conditions.
For this reason, meteorologists are warning Americans that now is the time to prepare before the storms begin.
The Atlantic hurricane season began on the first of June. Still, weather professionals from AccuWeather have expressed concern for months, warning that the 2024 season could go into the record books.
“The 2024 Atlantic hurricane season is forecast to feature well above the historical average number of tropical storms, hurricanes, major hurricanes, and direct U.S. impacts,” said AccuWeather Lead Hurricane Forecaster Alex DaSilva.
A Concern for Property Owners
There’s no question that hurricanes are expensive for everyone: homeowners, insurance companies, states, cities, and the federal government.
According to the National Oceanic and Atmospheric Administration’s Office for Coastal Management, tropical cyclones (or hurricanes) have caused the most damage of all weather events in the United States since 1980: over $1.3 trillion total, with an average cost of $22.8 billion per event. Hurricanes are also responsible for the highest number of deaths: 6,890 since 1980. (Hurricane Katrina was the costliest hurricane on record, causing $65 billion in insured losses in 2005, and one of the deadliest, resulting in the loss of 1,390 lives.)
According to a report published by CoreLogic, approximately 32.7 million homes in the United States are at risk of moderate to severe hurricane damage ahead of the active hurricane season, which translates to a combined reconstruction cost of $10.8 trillion.
“Insurance remains one of the most important tools for a resilient society, given the role it plays in recovery. Being able to quantify risk helps insurance companies make informed risk decisions, which is critical in the evolving hurricane landscape,” said Maiclaire Bolton Smith, CoreLogic’s vice president, hazard and risk management. “With the potential for an active hurricane season on the horizon, insurers and homeowners should do everything they can to prepare and mitigate as much risk as possible.”
Preparing for Hurricane Events
It’s important that homeowners properly evaluate the risk of a major hurricane in advance and prepare accordingly, and this means properly evaluating property insurance coverage.
Homeowners’ insurance covers damage to your home and other buildings on your property, including detached garages. Homeowners should also consider the additional coverage a homeowners’ policy can provide, such as personal liability and more.
Numerous factors go into creating homeowners’ insurance policies, including the cost of the property being covered, deductible amounts, various discounts, and more. If it has been a long time since you’ve evaluated your property against the potential for storm damage, it should be a priority to do so before the wind starts to blow.
Consult With a Knowledgeable Insurance Agent in Connecticut
Property owners in Connecticut need to have a reliable insurance agent on their side. To be sure that your home insurance is ready for the increased risk of storm damage this year, review your coverage in advance. In Connecticut, Petruzelo Insurance offers business, personal, and auto policies that fit your needs and protect you in the event of hurricane- or storm-related damage. Call us at 866-479-3327 or visit our website for more information.