PROPERTY AND HOMEOWNERS

Companies with exposure to the sinking of the Deepwater Horizon oil rig in the Gulf of Mexico are insured for losses totaling about $1.4 billion, according to initial reports as reported in CLAIMJOURNAL.COM, an insurance claims Web site.

British Petroleum and its associates already are accepting claims on the damage in hopes of quickly putting this widespread disaster and its costly economic costs behind them. However, as with all huge corporations facing expensive damages for the costs they have caused they will be attempting to settle for pennies on the dollar or deny innocent victims the dollars that are rightfully theirs.

The corporations will have a deep pool of lawyers who are experienced at keeping the payouts for these disasters as low as possible in order to insure that the companies continue to make huge profits. That is why you will need equally experienced and motivated lawyers on your side to make sure you get the full payment of damages you are due.

Filling out a claim form and processing it on your own almost means that you will not receive the full share you are due. Their lawyers are well versed in how to outmaneuver or manipulate the system to their favor. You are not. We list below some of the areas in which damages should be recoverable and we offer you a free consultation to evaluate your case and determine exactly where you fit in being part of the recovery process.

Types of Property Damage

• Real Property Damage: The most obvious. In this case it could be waterfront property or any land or buildings you own that was oiled by the spill. This would include the cost of cleaning your property or property that you lease.
• Personal Property: This would cover costs you incurred for the expenses cost of cleaning or replacing a boat, fishing tackle, equipment, or clothing that was oiled during the spill.
• Personal Injury: Damages for any death or personal injury that you or a loved one suffered as a result of the spill.
• Lost Profits and Earnings: A typical example here would be if you were a fisherman and were unable to fish because of the oil spill. Another relevant example in this oil spill would be if you had a sportsfishing boat business that was shut down.

Documents You Will Need

In order for us to most efficiently and effectively represent you and recoup the full damages you may be due it is vitally important that you provide the best supporting documentation possible so we can use it as evidence to support your case. Here are some of the types of documentation that are most effective in these type cases:

• Proof of ownership of your property such as titles, deeds, loan papers
• Relevant photographs, videos or other images
• Relevant receipts, invoices or bills
• Relevant documents from government agencies, be they local, state or federal
• Any witness information, including affidavits and contact information
• Official property appraisals
• Any other documentation you feel supports your claim

Things Could Get Worse

Even though British Petroleum, its associates and government agencies are racing to get control and eradicate the spill there is another problem looming on the horizon: Hurricanes.

Weather forecasters are becoming increasingly concerned that the hurricane season may start earlier this year and spread even more damage before the current crisis can be resolved.

As was evidenced in the catastrophic case of Hurricane Katrina, these storms usually originate in the Atlantic Ocean or western Caribbean Sea and move westward and then north into the Gulf of Mexico, a path that would lead them directly to this spill.

Such a scenario not only would hamper or halt cleanup operations, it would accelerate the pollution of the shorelines of Texas, Louisiana, Mississippi, Alabama and Florida. The likelihood, according to these experts, is that the safety measures put into effect to control this spill could be damaged or destroyed and the effects of the oil spill could be driven into inland areas, wreaking even more devastation.

Here's one authoritative report from MarketWatch of the Wall Street Journal:

'Extreme' hurricane season forecast

By Alistair Barr, MarketWatch

SAN FRANCISCO (MarketWatch) -- This year's Atlantic hurricane season could be "extreme" with several major storms hitting the U.S., AccuWeather.com meteorologists warned Wednesday.

"This year has the chance to be an extreme season," said Joe Bastardi, chief long-range meteorologist and hurricane forecaster at AccuWeather.com, said in a statement. "It is certainly much more like 2008 than 2009 as far as the overall threat to the United States' East and Gulf coasts."

Last year was calm, but in 2008 Hurricane Ike hit a 500-mile stretch of coastline in Louisiana and Texas, triggering insured losses of roughly $11.5 billion. That made it the third most expensive U.S. hurricane, after Katrina in 2005 and Andrew in 1992.

The 2010 hurricane season could be much more active than 2009, with "above-normal threats" on the U.S. coastline, AccuWeather.com said Wednesday.

Bastardi forecast seven landfalls. Five will be hurricanes and two or three of the hurricanes will be major landfalls for the U.S.

The meteorologist expects 16 to 18 tropical storms in total, 15 of which would be in the western Atlantic or Gulf of Mexico and therefore a threat to land. In a typical season, there are about 11 named storms and two or three hit the coast of the U.S., AccuWeather.com noted.

Bastardi said he's concerned about this season partly because the El Nino climate pattern is rapidly weakening and the ocean is warmer in the Atlantic, which could give storms more energy.

The Atlantic hurricane season officially begins on June 1 and continues through Nov. 30.

Alistair Barr is a reporter for MarketWatch in San Francisco.

SOURCE: marketwatch.com