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Hurricane Florence's toll on U.S. homes and businesses has now hit 11 figures

Source(s): Cable News Network
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By Michelle Krupa

[...]

Across the three states hardest hit -- North Carolina, South Carolina and Virginia -- the cost to rebuild is staggering. Here's a look at the devastation's price tag:

$45 billion

The top-end estimate of property damage reflects the effects of floodwaters and strong winds on thousands of single-family homes across an enormous disaster zone, according to Moody's Analytics.

[...]

$28.5 billion

That's the maximum estimate of all flood losses across the zone, including from storm surge, rain and rising rivers, an analysis by the firm CoreLogic shows.

Again, North Carolina is thought to have suffered most, with $22 billion in losses, followed by South Carolina with $5.5 billion and about $1 billion in Virginia.

[...]

$18.5 billion

As in Katrina, most homes and businesses devastated by Florence's floodwaters were not insured for damage from rising water. Those homes account for more than two-thirds of the total estimated uninsured flood loss, CoreLogic's estimate shows.

[...]

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Hazards Cyclone, Hurricane and Typhoon Flood
Themes Insurance and risk transfer Economics of DRR
Country and region United States of America

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