Tuesday, May 27, 2014

Why This Summer Could Be Hot Hot Hot!


Summer 2014 is now emerging as an El Niño summer. The climate prediction center has placed the East Coast, Southeast, and West in an area of very hot weather. How hot would it get? Temperatures heading into an El Niño summer would mean 50% more 90+ degree days in places like Boston, Providence, New York City, Philadelphia, Baltimore, and Washington. High humidity will accompany the heat, with at least 25 days exceeding 100 degrees with the afternoon heat index.

This would also mean bad news for West Coast's wildfire season and a continuation of the current drought in California. Relief for CA wouldn't come until December-February, with Southern CA, Southwest, and Southern Rockies getting more relief in the winter vs. Northern California. 

The pre-El Niño months of May and early June should definitely see a sign of warmer-than-normal temps in the East and Southeast and West, and the core of summer will bring once we get into the core of summer we'll see an El Niño roaster for the East Coast and South. The confidence is trending up with the forecast, and the latest IPC computer modeling shows a 66% chance of an El Niño this winter.

Models can overplay the warming of the oceans due to climate change and the predicted El Niño could be masked like the one in 2012; however, the law of averages shows it's time for the seven year El Niño itch.

Called a Kelvin Wave, an expanding pool of water now 4-6c above normal on the upper surface water of the Pacific Ocean which gets bigger and bigger. Some experts say it's may rival the Kelvin Wave of 1997-98 - the biggest El Niño of all-time. Why is this wave important? As the surface waters start to warm, the pool of water pushes East against the normal West flow of the Pacific. The true indicator of whether we end up with a weak or moderate El Nino will be how far this huge, warm pool of water travels over the Pacific Ocean the next 2-12 months. If the entire pool of toasty water moves Eastward to the West Coast of Mexico and South America, you set the stage for a potential Pineapple Express. Throw in a moisture-laden jet stream from Hawaii and strong El Nino, and the entire southern half of the United States is wet this winter. On the contrary, if the pool of water stays parked in the Central Pacific you get a weak to moderate El Nino. 

If you have summer plans for the beach, or plan on visiting the local lake to cool off, you'll be glad you made that reservation. The areas of the U.S. to see the biggest increase in the heat this summer will be: California, Nevada, Arizona, Utah, Oregon, Texas, Oklahoma, Missouri, Georgia, Virginia, Maryland, Delaware, DC, New Jersey, New York, and Pennsylvania.

Friday, May 23, 2014

Insurance Spring Cleaning - Tip #4 Schedule an annual insurance “checkup”


One of the best strategies to help you better manage your premiums is to have regular consultations with your insurance agent. Make sure to have periodic “checkups” to reevaluate your situation.

Not only will this help you in the long run, but it will also build rapport with your agent and have your best interests protected.

Thursday, May 22, 2014

Insurance Spring Cleaning - Tip #3 Document your personal property, especially valuables


 
You can be best protected if you have access to a comprehensive view of your tangible assets, including fine art, jewelry, wine and other valuables.  Take an inventory of your high-value items and move forward to best protect yourself against potential losses. Moving eligible items to a valuables coverage policy can reduce costs and strengthen protection, but you first need to inform your agent what needs to be protected. By documenting your high-value items, clients and insurers can have a more productive dialogue about coverage.

 
 
 
 
 
 
 
 
 
 
  
 

Wednesday, May 21, 2014

Insurance Spring Cleaning - Tip #2 Make sure you aren’t overpaying to be underinsured


A recent survey by ACE Private Risk Services found that wealthy families often over-pay for insurance coverage, a trend that has worsened since 2010. 

Families can manage, or even reduce, their premiums by being proactive. Take control of your coverage by taking the following steps:

·         Increase you homeowners’ deductibles

·         Install preventative measures such as burglar alarms and water leak detection systems to earn safety credits

·         Bundle policies with one carrier

·         Move artwork and other collectibles from home contents to valuables coverage

Call us 24/7: 516-767-9600