7/12/2013 - Storm surge threatens more than 4 million homes
As hurricane season goes into full swing, a new report indicates the extent to which residences are vulnerable to storm damage, potentially resulting in substantial homeowners insurance losses.
According to property information analytics firm CoreLogic, more than 4 million homes are within range of storm-surge risk zones, totaling north of $1 trillion worth in property exposure. In addition, more than half of that total is concentrated in 10 major metropolitan statistical areas.
Howard Botts, vice president and director of development for CoreLogic Spatial Solutions, noted that after Superstorm Sandy last fall, homeowners are paying special attention to just how susceptible they are to being affected by storm surge.
"Sandy was a harsh reminder of the potential destruction associated with storm-surge flooding, and of just how many communities are vulnerable to that risk, in areas typically assumed to be relatively safe from hurricanes along the northeastern Atlantic shoreline," said Botts.
There are a variety of ways in which homeowners can prepare themselves and their residences for the potential of a hurricane. The Federal Emergency Management agency provides tips and tricks to perform before, during and after a storm passes through.