Just last week, Storm Debby made landfall, leaving a trail of destruction across several states on the U.S. East Coast. Initially a powerful hurricane, Debby weakened to a tropical storm as it moved inland but still left its impact across the coast. The storm unleashed torrential rains and fierce winds and even spawned tornadoes, causing widespread damage, flooding, and power outages from Florida to New York. The storm's impact highlights the critical importance of proactive risk mitigation for residential and commercial properties.
Severe Flooding and Widespread Power Outages
Heavy rainfall was dumped as tropical storm Debby moved northward, leading to significant flooding, especially in areas like Florida, New York, and Pennsylvania. The storm surge overwhelmed coastal areas, flooding streets, homes, and businesses. In Sarasota, over 2,300 residents were left without power as the storm knocked out electrical infrastructure. Thousands of residents across Pennsylvania were also left without power, many still waiting for repair. Roads became impassable due to rising waters, leaving many stranded or needing rescue. The damage was not limited to these areas; the storm left damage up the coast and continued to cause havoc, with Georgia and South Carolina also experiencing severe flooding and tornadoes.
The East Coast is no stranger to tropical storms, but it can be challenging to predict each storm's impact. For many, severe winds and rain are at their peak, while others ignite dangerous flash flooding, power loss, and property damage. Preparing for the worst-case scenario can put your home and business in a better position to avoid extensive damage or loss.
Estimating the Losses: The Economic Impact of Debby
The total economic impact of tropical storm Debby is still being assessed, but early estimates suggest that the losses could run to billions of dollars. The flooding alone has caused extensive damage to residential and commercial properties, with water levels rising several feet in some areas. The storm’s strong winds and tornadoes exacerbated the damage, tearing roofs off buildings, toppling trees, and downing power lines. Insurance claims are expected to surge, particularly for flood damage, which is not typically covered under standard homeowners' insurance policies.
Why Hurricanes Cause Severe Flooding
Hurricanes are notorious for causing severe flooding due to a combination of factors. Firstly, the storm surge, an abnormal rise in sea level caused by the storm's winds, can overwhelm coastal areas, often leading to catastrophic flooding. Secondly, hurricanes can dump immense amounts of rain over a short period, overwhelming rivers, lakes, and drainage systems.
New York, for example, is highly susceptible to flooding. Its coastal geography and outdated infrastructure aren’t well-equipped for severe storms. As climate change has progressed, the sewer system, subway system, and general commercial infrastructure have been experiencing much more damaging effects from floods.
The Risk of Flooding to Property
Flooding poses a significant risk to property, as it can lead to structural damage, mold growth, and the destruction of personal belongings. Even a few inches of water can cause thousands of dollars in damage. In coastal areas, the risk is heightened due to the possibility of storm surges. Properties in flood-prone zones are particularly vulnerable, and homeowners may face overwhelming repair costs without adequate insurance.
In addition to the property itself, flooding can cause long-lasting business interruption. From the property itself to the equipment within the dwelling, temporary losses can cause significant financial damage to businesses that need to pause operations while flood damage is under repair. During severe storms, like tropical storm Debby, many properties may need flood damage repair, furthering the length of time remedy as labor is in high demand. For those using insurance for repair, claim settlement can also be prolonged in cases of high filings.
Flood Insurance: A Critical but Often Overlooked Protection
Homeowners' lack of flood insurance coverage is one of the most critical issues arising after a storm like Debby. Standard homeowners' insurance policies typically do not cover flood damage. This exclusion leaves many homeowners unprotected in the aftermath of a storm. Flooding is not a covered peril, meaning none of your standard property or home insurance will apply to damage caused by a flood. This applies to property damage, personal property, equipment, and interruption. To safeguard against flood-related losses, homeowners need to purchase a separate flood insurance policy, typically available through the National Flood Insurance Program (NFIP) or private insurers.
How to Obtain Flood Insurance
Acquiring flood insurance is a straightforward process, but acting before a storm is essential, as there is often a 30-day waiting period before the coverage takes effect. Homeowners can obtain flood insurance through their insurance agent or the NFIP. It’s essential to assess your flood risk and ensure adequate coverage, especially if you live in a flood-prone area. Even those not in a flood zone should assess their risk as climate change has widened the geography of those at risk of flooding. Coverage limits vary, so reviewing your policy to understand what is and isn’t covered is crucial.
Protect Your Home and Business from Storm Damage with ECBM Insurance
ECBM is a family-run, privately owned insurance company based in Pennsylvania with over 50 years of experience serving our clients. Our agents provide high-quality insurance solutions for a fair price. As climate change continues to alter risks, it's more important than ever to ensure your home, business, and assets are protected. Whether you need a consultation on your current insurance program or want to purchase a new policy, ECBM can help. Contact us for more information on our services.
