Tornados…flooding…earthquakes…So far, 2011 has proven to be a nightmare of a year with regards to property damage. In the US, we already have had 53 killer tornados (compared to 24 a year on average), and it’s not even June yet.

Not only have there been so many tornados, the intensity of them have been unusually strong this year. Already, there have been four officially reported EF5 tornados this year, and that number is expected to grow. Even last night in Oklahoma City, there was a report of another EF5 twister but it has not been made official yet.

With all the claims property insurance carriers are paying out, one thing is certain…we can ALL expect to see increasing homeowners insurance, auto insurance, and even commercial insurance premiums. Additionally with the hurricane season coming up, we can expect some homeowners to be dropped or cancelled from their current homeowners insurance company as these carriers will be looking to reduce their loss ratios.

With everything in flux, it will be very confusing for people on how to go about getting a reduction in premium or finding a carrier that will write you a policy. Thus, seek out an insurance broker as opposed to an agent in order to have plenty of insurance carrier and pricing options to choose from.

*Remember* Homeowners insurance and business insurance does NOT cover losses due to flooding caused by tidal waters. Ask your Long Island NY insurance broker about obtaining a flood insurance policy to protect your home or your business against these losses.