As you are all too aware, the 2006 hurricane season is rapidly approaching, which is always a concern for potential property loss. Every hurricane season has brought hurricanes to the Florida and the coastal areas, many causing major damage to properties. During the 2004 hurricane season, Florida experienced an unprecedented four major hurricanes in a row. The 2005 hurricane season was just as active, if not more! Hurricane Katrina will go down in history as one of the most disasterous hurricanes to date. Experts are divided in their opinions on how active the 2006 hurricane season will be, but remember, it only takes one hurricane to damage or destroy your property.

In addition to damage due to hurricane force winds, an even more potential danger is from storm surge. Many times property managers and/or owners are not aware of the damage which can be done to the foundation of the buildings due to this storm surge. This damage, which occurred throughout the Florida coastal areas, was dramatically demonstrated in the panhandle of Florida in 2004. In 2005 it was demonstrated once again with Katrina in South Florida and Louisiana, with miles of destruction left in the wake of the storm surge. Much of the time the damage is very apparent. However, there have been properties which have appeared to have weathered the hurricane with minimum loss, only to discover that the foundations of the buildings have been damaged to the extent that the structures have had to be torn down and rebuilt. Therefore, it is necessary that all flood coverage be brought up to current insurable values as well.

Owners, managers and agents need to determine if their property is insured to the proper value before the hurricane season starts. Once a tropical storm or hurricane appears, it is too late to add additional coverage. A third party insurance appraisal provides an unbiased opinion of the reproduction cost new of each structure, which allows owners to insure their property to the correct value.

Remember - Any type of property is at risk! If you have not had an insurance appraisal performed on your property, or do not have a recent update, now is the time to prepare.

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