If you can read this, you’ve probably
already headed for higher ground and safety. If you haven’t yet, let’s hope you
have an escape route planned. We still don’t know what kind of damage Sandy is
going to bring to the area, of course, but it’s expected to be worse than Irene
last year, and that was plenty bad.
The final tab for Tropical
Storm Irene ended up at more than $15 billion in damage. A lot of that damage
here in New Jersey was from flooding; the National Flood Insurance Program paid
out more than $1.28 billion in flood-related losses.
If there’s any good news in
all of this, it’s that insurance companies are much better positioned this year
to respond to their customers. In 2011, with a spate of tornadoes and the
horrific earthquake in Japan, many insurance companies were stretched to the
limit by the end of October. Whatever the result of Sandy, it shouldn’t be too
hard to get compensated for your losses. Good luck, and be safe.
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