How to prepare before the storm: Insurance expert weighs in after Ida

WASHINGTON — Hurricane season is in full swing and the damage is already adding up.

AccuWeather estimates Hurricane Ida’s economic impact could top $95 billion.

Whether you live in hurricane territory or not, insurance experts say more people need to have flood insurance.

Currently, only about 12 percent of people have this coverage nationwide.

The Insurance Information Institute recommends more people get flood insurance even if they don’t live in hurricane territory.

Typically, its only available through the federal government but now more private insurance companies are offering flood insurance too.

Insurance experts say look for your declarations page before the storm.

It’s a one-page summary of what kind of coverage you have and your deducible.

While many of us are on a budget, insurance experts say any insurance coverage is better no than coverage at all.

“We say every dollar that’s spent making yourself more resilient saves seven dollars if you encounter a catastrophe,” said Sean Kevelighan, CEO of the Insurance Information Institute. “We have more than $900 billion set aside in what we call a policy holder surplus, so we’re prepared as we’re seeing these losses increase.”

Insurance experts also recommend taking a video of the things in your home so you have an inventory list.