We all know that Hurricane insurance in places along the US coasts is getting more expensive and becoming more limited. In fact, I was recently dropped by my carrier and had to find another one even though my home exceeds all building and hurricane codes.
And even if you can find a good carrier:
- The deductibles are huge, often costing 2-15% of your home's value.
- Even after paying all that money, there are items that hurricane insurance typically does not pay for - outdoor items, landscaping, docks, screened in porches, costs of clean up, etc.
- By the time an insurance adjuster shows up at your home or business, which can take a long time depending upon the severity of the storm, processes your claim and sends you a check, you've already had huge out of pocket expenses many which are not covered.
Back in 2004 I hired the best scientists and advisors I could find. Many of these are well known University and National Hurricane Center affiliated meteorologists and scientists. During the last six years all of us worked night and day on this project- we were on a mission - to create an easy to use, intuitive way to hedge against hurricanes.
Our solution is HURLOs - Hurricane Risk Landfall Options.
HURLOS are a way average homeowners can fill in the gap between what is paid by their insurance company and their actual expenses. HURLOS can be used to cover deductibles, and almost anything insurance will not cover, and do so within 72 hours of a hurricane making landfall - and that as you know is incredibly fast.
So what are HURLOS?
Hurlos are simply low cost options you purchase on our easy-to-understand internet based trading map indicating where you think a hurricane might make landfall. You click on a region and place an order. If a hurricane makes landfall where you selected and there is some official damage in that area you'll receive a payment. Our website lets you know exactly the minimum amount you will receive. There is no waiting for an adjuster or haggling over whether damage to your home or business is covered.