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Hurricane Katrina's Damage to Recreational Boats Estimated at $650-$750 Million

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Bad Credit Credit Creditres Boat Owners Association of The United States, the nation's leading organization for recreational boaters, estimates that damage to recreational vessels as a result of Hurricane Katrina is between $650 to $750 million. Of that amount only about half, or $300 to $400 million in damage, was covered by insurance.

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Bad Consolidation Credit Debt Katrina's losses far surpass last year's four hurricane total of about $330 million in damages as well as the $500 million in losses attributed to 1992's Hurricane Andrew - which until now was believed to be the single most costly natural catastrophe to effect recreational boating. Hurricane Katrina also destroyed an estimated 75% of the marinas along 150 miles of the Gulf Coast.

Most Destructive Hurricanes Hurricane season is beginning in the Atlantic and Pacific With more and more people living by the ocean, in cities full of millions of people, the damage caused by a single hurricane can now be astronomical. For the United States, the top 5 hurricanes as of the end of 2004 are as follows. All dollar amounts are given in "2003 dollars" i.e. accounting for inflation. The NOAA is the source of these figures.

Bad Company Credit Repair The BoatU.S. Marine Insurance Catastrophe Response Team is working in all three affected states of Alabama, Mississippi and Louisiana. Carroll Robertson, senior vice president of Claims for BoatU.S. Marine Insurance, says that she expects claims activity to subside in Alabama and Mississippi in the next few weeks as boats are located, surveyed and processed for repairs or salvage. "However, there is still a lot of work to do in Louisiana," said Robertson, who adds that the sheer size and severity of destruction in the state, in addition to evacuations and security restrictions, have slowed recovery efforts.

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Bad Card Credit Credit Boat owners insured with BoatU.S. Marine Insurance should call 800-937-1937 to report a loss or damage to their vessel or go to www.BoatUS.com/insurance/claims.htm On the heels of Katrina, Hurricane Rita wreaked havoc on coastal areas of eastern Texas and the Louisiana bayou on Sept. 24, and figures for boat losses attributed to this storm aren't expected for a few more weeks.

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Boat Owners Association of The United States is the nation's leading advocate for recreational boaters providing its 620,000 members with a wide array of consumer services including a group-rate marine insurance program that insures nearly a quarter million boats; the largest fleet of more than 500 towing assistance vessels; discounts on fuel, slips, and repairs at over 825 Cooperating Marinas; boat financing; and a subscription to BoatU.S. Magazine, the most widely read boating publication in the U.S.

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