Recently, President Barack Obama visited the campus of Xavier University to mark the five-year anniversary of Hurricane Katrina, one of the costliest natural disasters to ever befall the United States.
During his speech in New Orleans, one of the areas hardest hit by the hurricane, Obama noted the government has tried to make strides to help avoid the devastating effects such a storm can have on the city and the region. Although he recognized the recovery is ongoing, the president said that officials are getting ready for future threats.
“The largest civil works project in American history is underway to build a fortified levee system. And as I – just as I pledged as a candidate, we’re going to finish this system by next year so that this city is protected against a 100-year storm,” Obama said. “We should not be playing Russian roulette every hurricane season.”
Consumers being ready
While Obama’s comments may come as somewhat of a relief to residents of the Gulf States, consumers may take them as advice to guide their own plans for being ready for a natural disaster. Some people may not realize that standard home insurance policies do not generally cover against certain damages from hurricanes.
In order to make sure they are protected, consumers have been urged by organizations like the Federal Emergency Management Agency and the Insurance Information Institute to make sure they have the proper home insurance coverage. Along with specific policies designed for hurricane damage, people who live in affected areas should check to see they are covered under the Federal Flood Insurance Program.
Businesses too
The III notes that homeowners aren’t the only ones who should prepare themselves. Businesses also need to take steps, including reviewing their business insurance coverage. Some things to consider regarding policies are if they include protection against income losses tied to the suspension of normal commercial activities.
Both businesses and homeowners should also have a disaster plan in place. Doing so can not only make sure that homes and properties are protected, but that people and employees have enough time to escape an area targeted by a hurricane.
According to the National Hurricane Center, Katrina caused an estimated $75 billion in damages along the Gulf Coast. And though the final death toll is in dispute, the NHC has it at about 1,200 people.
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