How Property Owners Can Prepare Financially for a Tornado

first_img Share Save Sign up for DS News Daily Governmental Measures Target Expanded Access to Affordable Housing 2 days ago in Daily Dose, Featured, Government, Market Studies, News Related Articles How Property Owners Can Prepare Financially for a Tornado Data Provider Black Knight to Acquire Top of Mind 2 days ago Home / Daily Dose / How Property Owners Can Prepare Financially for a Tornado Christina Hughes Babb is a reporter for DS News and MReport. A graduate of Southern Methodist University, she has been a reporter, editor, and publisher in the Dallas area for more than 15 years. During her 10 years at Advocate Media and Dallas Magazine, she published thousands of articles covering local politics, real estate, development, crime, the arts, entertainment, and human interest, among other topics. She has won two national Mayborn School of Journalism Ten Spurs awards for nonfiction, and has penned pieces for Texas Monthly, Salon.com, Dallas Observer, Edible, and the Dallas Morning News, among others. The Best Markets For Residential Property Investors 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago  Print This Post Demand Propels Home Prices Upward 2 days ago 2021-04-02 Christina Hughes Babbcenter_img Servicers Navigate the Post-Pandemic World 2 days ago The Best Markets For Residential Property Investors 2 days ago Previous: Examining FHFA’s Commitment to Diversity Next: CFPB Instructs Servicers to Prepare for Forbearance Expirations The Week Ahead: Nearing the Forbearance Exit 2 days ago April 2, 2021 792 Views About Author: Christina Hughes Babb Servicers Navigate the Post-Pandemic World 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Demand Propels Home Prices Upward 2 days ago A staggering number of tornadoes in America over the past decade has resulted in billions of dollars in property damage, which could be especially nerve-wracking for certain homeowners during the spring, since April, May, and June typically see the most tornado activity countrywide.The government outfit created to respond to natural disasters and aid victims, The Federal Emergency Management Agency (FEMA), has allotted $359,768,106 for tornado-related recovery during this time span, shows a report from LendingTree’s Value Penguin. That goes toward the approximately $14.1 billion damage overall to property and crops caused by 5,710 tornadoes hitting every state except Alaska, including Washington, D.C. In each of Alabama, Texas, Mississippi, and Illinois, twisters wreaking more than $1 billion in damages.But the frequency of hits did not necessarily dictate the distribution of funds.FEMA’s records show that just two states received nearly 50% of the agency’s disaster relief funds during this period, with unlikely Massachusetts leading the way, according to the report.The big takeaway for homeowners is this: Value Penguin data journalist Andrew Hurst says that “while the federal government’s efforts to repair tornado damage pose a multibillion-dollar financial commitment, data from insurers don’t indicate that affected property owners will face huge premium increases if a storm destroys their homes.”In the 13 states that are most prone to tornadoes, homeowners generally don’t face punitive increases to their premiums after a catastrophic loss. Insurance rates increased by an average of 8% following a total loss, according to the report.In other words, rate information shows an average per-year increase of only $180 in the states most likely to experience the greatest number of tornadoes.He adds that, based on the findings, FEMA Funding is not an adequate system to rely upon in case of a natural disaster.”If you are preparing for the upcoming Tornado season, double-check your home insurance coverage—and make sure your insurance will allow you to recover completely after a storm,” Hurst advises.”While most homeowners can be assured that their rates won’t rise precipitously after a tornado, if not adequately insured, [homeowners] may face hundreds of thousands of dollars of damage [they] may need to pay out of pocket.”To view his full report, visit: valuepenguin.com/damage-caused-by-tornadoes. Subscribelast_img read more

Met Eireann warn of more gale force winds in Northwest tonight

first_img Facebook Met Eireann is warning of further gale force winds in parts of the country tonight.Gusts of between 100 and 120 kilometres per hour are forecast in exposed areas of Connacht and west Ulster.Meanwhile Eircom says its currently dealing with over 5,000 faults – with Mayo, Galway, Sligo and Donegal the worst affected areas.The ESB says power has been restored to all households – but there may be some outages for a time today while repair work is completed.John Eagleton from Met Eireann says the conditions tonight will not be as severe as earlier this week:[podcast]http://www.highlandradio.com/wp-content/uploads/2012/01/14eagl1.mp3[/podcast] Google+ News Pinterest Pinterest Twitter WhatsApp Further drop in people receiving PUP in Donegal WhatsApp Twitter RELATED ARTICLESMORE FROM AUTHORcenter_img Met Eireann warn of more gale force winds in Northwest tonight Man arrested on suspicion of drugs and criminal property offences in Derry Previous articleHearing of Donegal Priest’s indecent assault charges adjournedNext articleDeputy Pringle says majority against Household Tax, as only 2,400 register to pay News Highland By News Highland – January 4, 2012 75 positive cases of Covid confirmed in North 365 additional cases of Covid-19 in Republic Main Evening News, Sport and Obituaries Tuesday May 25th Facebook Google+ Gardai continue to investigate Kilmacrennan firelast_img read more