Researchers from Kiplinger, which deals in financial advice and business forecasting, looked at property-damage costs over the last decade. Alabama again came in No. 7 nationally with $8.1 billion in claims.
Texas, Florida and Louisiana also rank high on the Kiplinger list, as they do in the Bankrate.com rating. Mississippi is the only Gulf Coast state not listed by Bankrate, but thanks to Hurricane Katrina, the Magnolia State ranked No. 4 on the Kiplinger list with $14.9 million in property damage.
Businesses reviewing these reports will surely consider closely any plans to relocate in disaster-prone states. All states can do to ease their fears is make sure affordable and fair insurance coverage is available and that emergency plans are ready to be put in motion.
Although these reports focus on disaster-prone states, the other states must keep in mind that we are all in this together. Episodes like Sen. Tom Coburn, R-Okla., criticizing disaster relief and then backpedaling when a tornado hit his state are an embarrassment to reasonable Americans. We are part of a federal union, and as Coburn finally admitted, “there are certain things we can’t do that we need the federal government to do.”
Disaster-prone states are well aware of that.