Sep 05 2008
Gustav’s Aftermath
Five days after Hurricane Gustav made landfall the estimated damages are up to 10 billion dollars. This is a lot lower than originally expected because as the hurricane moved over land it fortunately went from a category 4 to a category 1 storm. Many people were worried that this storm was going to be as bad as Hurricane Katrina which did 41 billion dollars in damages. Unfortunately, this is only good news comparatively as insurance rates for coastal cities will continue to rise due to Hurricane season just starting.
People from effected areas will have to be evacuated as storms get stronger and will continue to have to determine what kind of damage has effected their homes. When Katrina was over and residents returned to their homes the debate became whether wind, flood or rain damage was to be paid by the insurance companies. Home-owner’s insurance covers the wind and rain damage, while the flood damage is paid by flood-insurance policies. To learn more on the rising insurance rates and what they mean to you visit USA Today’s site. So, to all the residents of coastal cities this hurricane season: Good Luck! You are going to need it.