The Cost of Natural Disasters

best insurance in Louisiana

The Cost of Natural Disasters

The flood waters from Hurricane Irma and Hurricane Harvey have receded. The damage left behind is estimated to exceed $150 billion, on par with the cost of Hurricane Katrina. When any natural disaster strikes, public and private actors step up to cover costs. Also, payouts from state and federal aid programs and insurers cover the cost of rebuilding. To protect you and your family from future disasters, get the best insurance in Louisiana!

The federal government’s flood insurance program, which is a part of FEMA, is usually the only form of flood insurance available to homeowners since flooding is not covered under standard home insurance policies. This program has made more than $204 million flood insurance payments so far, and they anticipate to reach $11 billion for Hurricane Harvey alone.

Private homeowner insurance policies kick in when it comes to a storm’s wind damage. Irma’s winds were the culprit to most of the destruction in Florida, so a lot of the damage was covered by people’s private policies.

If people do not have insurance or if an individual policy doesn’t cover any or all of the damage, then the federal government steps in with grants and loans. FEMA assists those who have lost their homes as part of a declared disaster and provides temporary relief to displaced individuals and families. FEMA has received roughly 734,500 applications for assistance and has distributed $276 million so far for Hurricane Harvey and $21 million for victims of Hurricane Irma.

This sounds like a large amount of money and leaves many people wondering how this will affect the economy. Thus far, the economy will be fine, but that doesn’t mean that individuals won’t lose money. Typically, people decide not to file for small claims that are less valuable than their insurance deductibles which can still add up to thousands of dollars.

With all of the examples set in 2017 of Mother Nature’s destruction, it is so important to consider to purchase insurance plans that have your best interest in mind. AWS cares about our community and the businesses that help the Gulf Coast thrive. With hurricanes as a constant threat to the Gulf, we know how important it is to have the best insurance in Louisiana. Our esteemed insurance experts are here to help find a plan that works for you and your family by understanding every small detail of coverage that you require.

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Melinda Martin

Account Executive

Melinda began her insurance career in 1985 with Alexander & Alexander where she received her Property & Casualty and Life & Health license. Since then she has worked at various agencies in the New Orleans area and in California as a senior account manager for Employee Benefit Plans.  While in California, she was also the Membership Director for the Burbank Chamber of Commerce. Melinda joined the AWS team in July of 2015.

Michael A. Seeling

Vice President

Graduated from the University of Louisiana at Lafayette with a B.A. in Insurance Risk Management and is a graduate of Archbishop Rummel High School in New Orleans. He joined AWS in October of 2008 and has been awarded the Patient Protection and Affordable Care Act Certification (PPACA). Additionally, he is working towards his Certified Insurance Counselor (CIC), Registered Health Underwriter (RHU), and Registered Employee Benefits Consultant (REBC) designations. He is also a member of the National Association of Health Underwriters (NAHU), National Association of Insurance Financial Advisors (NAIFA), and is an active member of the Fore!Kids foundation.