Florence Damage Estimated Up to $30B – NMP
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Florence Damage Estimated Up to $30B

Sep 25, 2018
Hurricane Florence is history, but the property damage left behind is being estimated at between $20 billion and $30 billion, according to data from CoreLogic

Hurricane Florence is history, but the property damage left behind is being estimated at between $20 billion and $30 billion, according to data from CoreLogic.
 
Flood loss for residential and commercial properties in North Carolina, South Carolina and Virginia is estimated between $19 billion and $28.5 billion—this includes storm surge and inland flooding. Wind losses are estimated to be an additional $1 billion to $1.5 billion. This analysis includes residential homes and commercial properties, including contents and business interruption
 
In a separate analysis, CoreLogic is estimated that uninsured flood loss for the region to be between $13 billion and $18.5 billion, while insured flood loss from private insurers is estimated at less than $5 billion, while the insured flood loss covered by the National Flood Insurance Program (NFIP) is estimated to be between $2 billion and $5 billion. A total of 445,000 total residential and commercial NFIP property policies were in place in the three states impacted by the hurricane.
Hurricane Florence is history, but the property damage left behind is being estimated at between $20 billion and $30 billion, according to data from CoreLogic
 
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Phil Hall
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Sep 25, 2018
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