Insure and Mitigate Before Disaster Strikes.

AuthorTyrrell, Kim
PositionTRENDS

Storm surges and tidal floods, high winds, heavy rains, even tornadoes. The dangers brought ashore by hurricanes can be devastating--and costly. The damages inflicted by Hurricanes Harvey, Irma and Maria, which hit parts of Texas, Florida and the Caribbean islands in 2017, totaled $265 billion, according to the National Oceanic and Atmospheric Administration.

Still being calculated are the damages caused by Hurricanes Florence and Michael, which struck North Carolina and Florida, respectively, this fall.

To help communities become more resilient, the Federal Emergency Management Agency is working with state emergency management agencies and other partner organizations to communicate a better understanding of weather-related risks and how to prepare for and even prevent their damaging effects. These efforts are key to reducing suffering from disasters.

Insurance. Floods occur in every state. Still, flood insurance policies are often viewed as optional. The lack of policies in the areas hit by Florence and Michael, for example, will affect recovery, FEMA says. That those areas were underinsured is not unusual. On average, only 30 percent of residential structures in the highest risk flood areas are insured.

Insurance is the best resource for recovery, according to FEMA. Even if a presidential disaster declaration is made, federal assistance may be limited, which can be especially burdensome on those with uninsured properties. After Harvey, the average flood insurance claim paid more than SI00,000, while the average disaster grant from FEMA was less than $10,000. Insurance leads to a quicker, more complete recovery.

Mitigation. Mitigation is critical to reducing damages, and proactive land-use planning and improved building codes are two effective mitigation strategies. Only 33 percent of jurisdictions have approved building codes with disaster provisions. Adopting and enforcing strong codes will help ensure that structures are built stronger and safer before, and after, a disaster.

Preparedness and Disaster Grants to States, in Billions of Dollars, FY05-17 Individual Grants $1 Mitigation Grants $11 Preparedness Grants $26 Public Assistance Grants $37 Note: Table made from bar graph. Insurance and mitigation are not just for homes, FEMA says. Disaster aid provides billions...

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