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Recent tornadoes may have cost billions in insured damagesPosted On Wed, March 14, 2012
EQECAT recently made an announcement that the tornadoes which struck the Ohio Valley and the Southeast United States during the end of February may have cost between $1 billion and $2 billion.
From February 28 to March 3, an approximate 150 tornadoes touched down in the aforementioned areas, according to the report. More specifically, the tornadoes on February 28-29 numbered around 150, with one of these funnel clouds severely damaging Harrisburg, Illinois. The town has 9,000 residents and close to 200 homes.
The seven-year average for tornadoes in the United States is 123, the report added. However, in the past year, there have been 272 confirmed tornadoes. In 2012, 49 people have died due to tornadoes.
Those homeowners who are in harm's way when it comes to tornadoes should make sure they understand the difference between home insurance and disaster insurance, as they are not the same. However, home insurance is still important to have. Comparing home insurance quotes may help a person get an affordable and sufficient plan.
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