Thankfully, other than a few hundred flights cancelled at Miami International, Fort Lauderdale and other local airports, South Florida seems to have dodged the bullet of major damages from Isaac.
Unfortunately, according to Reuters, the death toll from the storm in Haiti and the Dominican Republic has risen to 20 people.
Financial Damage May Still Lay Ahead
However, our collective pockets may still face some financial hardship from Isaac. Now that the storm is in the warm waters of the Gulf of Mexico, it is expected to become a Category 1 Hurricane and threaten the offshore oil infrastructure and Louisiana refineries, with predictions that it may cause short term shut downs of about of 85 percent of the U.S. offshore oil production capacity and 68 percent of the natural gas output. Moreover, once it hits land, the storm could wreak havoc on low-lying fuel refineries along the Gulf Coast that account for about 40 percent of the U.S. refining capacity. This could cause gas prices to spike just before Labor Day weekend.
Minor Shutdown of Republican Convention
The storm's move westward meant that there shouldn't be any other interruptions at the Republican Party National Convention being held in Tampa. Organizers had decided to officially open the convention on Monday, just to close it soon thereafter and re-open it on Tuesday afternoon due to the possibility of storm surge flooding the Convention Center. The city still faces considerable rain (up to 15 inches) between Sunday and Monday evening, but the Convention should not be affected by the threat of water flood due to sea penetrations.
Just Like Katrina, Isaac is Heading to the Gulf Coast
Almost seven years to the day after Katrina slammed into the Gulf Coast, devastating New Orleans, killing more than 1,800 people and causing billions of dollars in damage (costliest natural disaster in United States history), the Gulf Coast once again braces for the impact of another hurricane. Fortunately, at Category 1 (if it gets there) Isaac is not remotely as strong as Katrina, which grew into a Category 5 monster before being downgraded to a Category 3 upon hitting the coast, destroying New Orleans' levee system and flooding about 80 percent of the city for weeks.
Although billions of dollars (an estimated $7.2 billion) have been spent by the Army Corp of Engineers rebuilding New Orleans levee system, a new storm approaching is causing many in the city to become anxious, with long lines forming at gas stations and people stocking up on supplies and securing their homes.
The Lawyers of Greenberg Stone and Urbano Can Help
You should always have an attorney help you review your policy and advise you on what coverage you should have and for how much. If you are about to renew your policy (with the same insurer or a new one), we can help you review it and make sure you are adequately covered and in a position to avoid costly expenses should disaster strike.
With more than 75 years of combined experience, the Miami Dade County Homeowners Insurance Claims Law Offices of Greenberg Stone and Urbano have helped thousands of Homeowners all over Florida review their policies, present their claims and get the compensation owed them by their insurance carrier.
Additionally, please note that if your home has already sustained damages, our team of loss consultants, paralegals, and attorneys will assist you in every aspect of your claim. Our loss consultant will even go to your home to evaluate the damage you sustained at no cost or obligation to you. Visit our website to learn more about our firm and contact us today for a free consultation or to schedule a free inspection by our loss consultant.