Large Atlantic Hurricane Serves as Reminder of the Importance of Home Owner Insurance

The presence of a large hurricane in the Atlantic Ocean has provided an opportunity to remind consumers to keep their home owner insurance policies up to date.

This week, Hurricane Bill has been making its way toward the Eastern Seaboard, remaining far enough away from the mainland to ensure that property damage is likely to be minimal. However, other devastating storms in recent years have illustrated how dangerous hurricanes can be - and it's still early in the current season.

According to the Insurance Information Institute, eight of the 10 most expensive hurricanes in U.S. history have occurred since 2004, inflicting billions of dollars in total damage. For example, Hurricane Katrina caused $45.3 billion in damage to become the costliest storm on record, followed by Hurricane Andrew at $23.8 billion and Hurricane Ike at $12.5 billion.

"Those who take the time to prepare for a disaster such as a hurricane stand the best chance of surviving the storm and getting back to their normal lives as quickly as possible," said Jeanne Salvatore of the Insurance Information Institute.

While the first major hurricane of 2009 is expected to cause little more than heavy surf along the East Coast, the importance of maintaining a good home owner insurance policy cannot be stressed enough.