‘Billion-Dollar Natural Disasters’ Happening At Alarming Rates In New York State
The "frequency of natural disasters is on the rise, especially in New York."
On Tuesday, a Quote Wizard spokesperson reached out to Hudson Valley Post to let us know their research proves natural disasters are happening at alarming rates across New York State.
Natural Disasters Increased By 162 Percent In New York State
Over the past 20 years, billion-dollar natural disasters have increased by 162 percent in New York State, according to Quote Wizard.
"The frequency of natural disasters is on the rise, especially in New York. Our team of analysts found that billion-dollar natural disasters have increased by 162% in New York over the last 20 years," a Quote Wizard spokesperson told Hudson Valley Post in an email. "Our report includes information on the most common natural disasters by state and the highest frequency of disaster events.
Over the past 40 years, between 1982 and 2022 there have been 77 natural disasters in New York State, Quote Wizard reports.
"Homeowners insurance covers some natural disasters, but you need to purchase separate policies if you want to be covered for floods and earthquakes," Quote Wizard states.
Officials estimate these disaster events have cost New York between $50-100 billion since 1982.
New York State had 21 natural disasters between 1983 and 2002. There were 55 disaster events between 2003 and 2022, Quote Wizard reports.
"There is no single insurance policy called natural disaster insurance, but home insurance policies can cover several types of natural disasters. The natural disasters covered by your home insurance depend on the type of policy you have. The most common homeowners insurance policy is called an HO-3, which includes protection from fires, hail, volcanic eruptions and some damage from tornadoes and hurricanes," Quote Wizard said.