Home Coverage for Tornadoes and Hurricanes
Your chances of dying in a tornado are extremely low. In fact, the exact number is 59,127 to 1 (according to the National Safety Council's 2002 estimate). However, tornadoes affect a huge swathe of the United States, and a record 1,817 tornadoes were recorded in 2004 alone. In fact, 57 percent of all catastrophe losses since 1953 are the direct result of tornadoes and related events.
Deductibles and premiums for tornado home coverage
For tornado home coverage, deductibles are relatively low (especially when compared to earthquake coverage). Deductibles will vary from 2% for windstorm coverage to 15% in extreme cases. Premium costs are also low; for example, a windstorm policy in South Carolina for a full year will be somewhere in the neighborhood of $500 for $100,000 of coverage.
Tornados, Hurricanes and your state's windstorm coverage pool
If you live in a high-risk state, it's also likely that you can take advantage of your state's windstorm coverage pool. States that offer these pools may include Alabama, Florida, Louisiana, Mississippi, North Carolina, South Carolina, and Texas.
| Event | Location | Date | Number of paid losses | Amount paid ($ millions) | Average paid loss |
|---|---|---|---|---|---|
| Hurricane Katrina | AL, FL, GA, LA, MS, TN | Aug. 2005 | 166,210 | $15,959 | $96,016 |
| Hurricane Ivan | AL, DE, FL, GA, LA, MD, MS, NJ, NY, NC, OH, PA, TN, VA, WV | Sep. 2004 | 27,557 | $1,567 | $56,865 |
| Tropical Storm Allison | FL, LA, MS, NJ, PA, TX | Jun. 2001 | 30,662 | $1,104 | $35,997 |
| Louisiana Flood | LA | May. 1995 | 31,343 | $585 | $18,667 |
| Hurricane Isabel | DE, MD, NJ, NY, NC, PA, VA, WV | Sep. 2003 | 19,844 | $491 | $24,736 |
| Hurricane Floyd | CT, DE, FL, GA, MA, ME, MD, NH, NJ, NY, NC, PA, RI, SC, VA, VT | Sep. 1999 | 20,439 | $462 | $22,617 |
| Hurricane Rita | AL, AR, FL, LA, MS, TN, TX | Sep. 2005 | 9,462 | $461 | $48,691 |
| Hurricane Opal | AL, NC, PR, SC, TN | Oct. 1995 | 10,343 | $406 | $39,208 |
| Hurricane Hugo | GA, NC, PR, SC, VA, U.S. Virgin Islands | Sep. 1989 | 12,843 | $376 | $29,315 |
| Hurricane Wilma | FL | Oct. 2005 | 9,591 | $362 | $37,700 |
If you're looking for hurricane or tornado insurance, then you can request a quote here!
http://www.iii.org/media/facts/statsbyissue/homeowners/
http://www.kcci.com/weather/16509558/detail.html
http://moneycentral.msn.com/content/Insurance/Insureyourhome/P59648.asp