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7/10/2014 - Inactive hurricane seasons have produced big storms

Just because a hurricane season is predicted to be weak doesn't mean the individual storms won't be powerful.

Though the National Oceanic Atmospheric Administration has predicted a below normal hurricane season this year, all it really takes is one major storm to wreak havoc for businesses and homeowners, turning what was supposed to be an uneventful period into one that won't be soon forgotten. Because of this, it's important to be prepared for all possible outcomes, according to the Insurance Information Institute (III) and the Institute for Business and Home Safety (IBHS).

Robert Hartwig, Ph.D, an economist and president of the III, noted that it's very easy for people to get lured into the belief that they don't need to ready themselves. However, it may come as a surprise that of the 12 costliest hurricanes to hit the U.S., 10 have occurred in the past decade, resulting in some $135 billion in property insurance losses.

"By getting the right type and amount of insurance and taking steps to prevent potential damage to your home or business now, you can save money and heartache down the road," said Hartwig.

Phil Klotzbach, a research scientist at Colorado State University who has predicted a mild hurricane season, added that some of the seasons that saw a relatively limited number of storms in total produced one that was major, including Andrew in 1992, Betsy in 1965, Agnes in 1972 and Bob in 1991.

If you haven't already examined your policy, the III and IBHS encourage you to do so, making sure that you purchase flood insurance, replacement cost coverage for your belongings and to create a home inventory so that the claims process is as swift as possible.

For more information on updating your coverage, speak to a local Selective agent.

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