Hurricane Harvey's Potential Impact on Relocation

Hurricane Harvey is expected to hit the Texas and Louisiana coast beginning late on Friday, August 25, 2017, and it may impact relocation activities in the area. Harvey is anticipated to be a category 3 storm with winds in excess of 100mph, with a damaging storm surge up to 20 feet and flooding rains up to 2 feet in some locations. The impact of this storm is believed to be particularly damaging and dangerous, as it is expected to linger over the coast through the weekend and possibly into early next week.

The storm may have an impact on relocation activities, as follows:

Property Insurance 

• As is common when earthquakes strike or natural disasters are imminent, our property insurance carrier has suspended the issuance of new policies for 545 zip codes in the hurricane zone until further notice. This means that, in order to protect our client’s exposure to this event, NuCompass will not be able to acquire properties from relocating employees until the insurance ban is lifted. 

Home Closings

• This approaching storm can also affect other home closings since buyers who had closings scheduled over the next several days will likely be unable to obtain an insurance policy in preparation for closing. 

Household Goods

• Household Goods moves and other relocation activity will also likely be affected as people evacuate threatened areas and home closings are delayed.

As part of our disaster-management process, we will be monitoring the storm situation and working with suppliers to minimize inconvenience to affected relocating employees. We will also protect our inventory properties, with the ultimate goal of personal safety as a first priority for all parties.

If you have any immediate questions regarding specific issues, please contact us directly.