This is How HNWIs Protect their Assets during Natural Disasters

Samuel Oskys13/09/20193min
For those who have been keeping up to date with the latest on Hurricane Dorian, you will know that the Cat 3 storm hit the east coast of the US with 185mph winds and was the cause of at least 20 people dead in the Bahamas.

This is an ongoing situation since this region is prone to hurricanes, storm surges, wind and tornadoes.

It’s obviously a priority to prevent loss of life in dangerous situations like these, but many homeowners worry about the possibility of damage or even total destruction to their assets.

Most insurance companies will cover basic weather-related damages but for HNWIs who own high-value mansions, yachts, supercars and other expensive assets, the financial losses could be great.

HNWIs and the average homeowner that live in hurricane-prone areas, deal with oncoming natural disasters like ‘Dorian’ differently.

In almost every case, homeowners with luxury houses usually go for full insurance coverage with all the added options, in order to protect all their assets.

Other luxury homeowners add hurricane-proof features or build custom homes that are highly resilient in these circumstances.

HNWIs Build or Purchase Homes to withstand Natural Disasters

Florida and Miami are hurricane-prone areas and HNWIs tend to build or purchase properties here, so they make sure their oceanfront home is tough enough to withstand a category 3 or 4 storms.

Hurricane-proof homes are obviously pricier, and when say pricier we mean at least double the cost of a normal home built in the area. The materials used to build such luxury homes usually have double the cost per square foot, compared to ordinary building practices.

Architects of such luxurious properties, install foundational features like impact windows, impact-resistant doors, shutter systems and upgrades to any other openings that expose homes to natural forces like wind and rain or debris that fly around during a high category storm. Features like impact windows can withstand the impact of planks of wood flying towards it at 150mph, but the window package cost is double than the normal cost. According to architects, these features cost double the cost per square foot, in comparison with the ordinary building practices.

Other features may involve:

  • Back-up generators to keep the air conditioning functioning for an additional 10 days in case of a power cut.
  • Water pumps in case of a flooding
  • Glass doors and windows that can withstand wind forces of more than 150mph
  • Flood panels to protect from water damage and flooding
  • Seawalls to prevent waves of 5ft from coming in

Once a custom fortified home is built, there’s not much else to worry about if a storm is coming, other than securing any loose furniture that may be left outside.

Samuel Oskys

Sam Oskys is a British born technology enthusiast, automotive lover, artist, author and editor. His inspiration has been his life experiences; his evolution and adaptation in society and life itself and as a result, translated these emotions into art and words within his work in this duration. Writing about trendy, technology, automotive and lifestyle-related material is what he mainly focuses on and he’s currently one of the authors for High Worth Citizen. Contact Sam at +357-22029786 ext: 6115 or by email at [email protected] for editorial related questions.

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