News & Press: Consumers

Five Steps to Limit the Financial Damage from a Natural Disaster

Wednesday, January 16, 2019  
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A major earthquake in Alaska. Devastating wildfires in California. It was a busy final few months of 2018 for natural disasters in the United States, punctuating another year of costly losses of life and property, and providing Americans with a billion-dollar reminder of just how important it is to take steps in advance to prepare and protect their assets from the calamitous climate, weather and natural events that are battering the U.S. and other countries with increased regularity.

Globally, the frequency of natural disasters — earthquakes, storms, floods, drought, etc. — has quadrupled since 1970, to more than 400 per year, reports PreventionWeb, an arm of the United Nations Office for Disaster Risk Reduction. And the U.S. is consistently among the hardest-hit countries. For example, the epidemic of wildfires that swept through parts of Southern California last summer and fall are expected to result in total economic losses approaching $400 billion, according to AccuWeather, making it the most expensive natural disaster in U.S. history.

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