Insurance policies may have specific exclusions related to natural disasters such as floods, hurricanes, earthquakes, tornadoes, and whirlwinds. These exclusions are included in the policy to limit the insurer’s liability and reduce the risk of financial loss.
Some common exclusions that can be found in insurance policies include:
- Floods: Most property insurance policies exclude coverage for damage caused by floods. To obtain flood coverage, an additional flood insurance policy is required.
- Earthquakes: Earthquakes are another event that may be excluded from property and business insurance policies. As with floods, to obtain earthquake coverage, an additional earthquake insurance policy is required.
- Winds and storms: Insurance policies may also exclude coverage for damage caused by strong winds and storms. It’s important to carefully read the insurance policy to understand what type of wind or storm damage is covered.
- Damage caused by lack of maintenance: Insurance companies may exclude coverage for damage caused by a lack of property maintenance. That is, if the damages are caused by the property owner’s negligence in not performing proper property maintenance, the insurance company will not cover the repair costs.
The most common exclusions in New York City are natural disasters such as floods, hurricanes, earthquakes, tornadoes, and whirlwinds. These events can cause serious damage to property and people, making them an important risk to consider when making important decisions such as buying property or planning an emergency strategy.
Rising sea levels and urbanization: leading causes of flooding in New York City
Regarding flooding, rising sea levels due to climate change are one of the leading causes of its increase in New York City. Melting glaciers and thermal expansion of oceans have caused the sea level to rise by almost a foot in New York City since 1900. In addition, urbanization and the elimination of green and wetland areas have caused impermeable surfaces, such as asphalt and concrete, to cover most of the city, making water flow faster towards sewer systems and rivers, increasing the risk of flooding.
Increase in hurricane frequency and emerging risk of tornadoes and whirlwinds in New York.
As for hurricanes, although New York City is on the east coast of the United States, it is not generally considered a high-risk area for hurricanes. However, in recent years, we have seen an increase in the frequency and intensity of hurricanes in the region, as for example Hurricane Ida caused severe damage in New York City and other states on the east coast of the United States. There were at least 50 storm-related deaths in New York, and record flooding caused by torrential rain reportedly damaged or destroyed thousands of homes and businesses. This increase may be due to factors such as climate change and rising ocean temperatures, which can increase the strength of hurricanes.
Tornadoes and twisters are also rare events in New York City, but still pose a significant risk. The last significant tornado to affect New York City was in September 2010, when an EF1 tornado touched down in the district of Brooklyn and caused damage to buildings, businesses, and vehicles. These events can be caused by thunderstorms and changes in weather conditions, and can cause considerable damage in densely populated urban areas.
It’s important to consider these exclusions when making important decisions about property and emergency strategy planning to ensure the safety and protection of people and property.
If you have any questions or concerns regarding the exclusions in your insurance policy, we are here to help. We understand that exclusions can be confusing, which is why we are committed to helping you clearly understand the terms of your policy and ensuring that you are fully informed about your coverage. Please do not hesitate to contact us for the assistance you need to make informed decisions about your insurance.
