Brace Yourselves for Another Heavy Hurricane Season

Number of the Day: The most relevant or interesting figure in personal finance

60%

That’s the chance that the Atlantic hurricane season, now officially underway, will have above-normal activity, government forecasters predict. 

While the National Oceanic and Atmospheric Association isn’t expecting a record-breaking season like last year—when there were 30 storms strong enough to be named—it is saying 13 to 20 named storms are likely, including six to 10 that could become hurricanes with winds of 74 mph or more. (Of last year’s 30, 13 were full-fledged hurricanes, and 12 made landfall in the contiguous U.S., breaking the previous record of nine, set in 1916.) An average hurricane season produces 14 named storms, of which seven become hurricanes.

Losses from weather-related events have surged with a population shift from expensive cities to more affordable and hurricane-prone coastal areas, according to a new report from real estate data firm CoreLogic. More than 31 million single-family houses face at least moderate risk of damage from hurricane winds, including 7.49 million that are at risk of storm surge damage because of direct or indirect coastal exposure, CoreLogic estimated Tuesday.

Note

The Atlantic hurricane season is June 1 to Nov. 30. If you’re in an area vulnerable to hurricanes, it pays to know what kind of damage insurance covers—and what kind it doesn’t.